Parameter Drifting in a DSGE Model Estimated on Czech Data

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F11%3A00054128" target="_blank" >RIV/00216224:14560/11:00054128 - isvavai.cz</a>
Result on the web
<a href="https://search.proquest.com/docview/920745784?accountid=16531" target="_blank" >https://search.proquest.com/docview/920745784?accountid=16531</a>
DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Parameter Drifting in a DSGE Model Estimated on Czech Data
Original language description
In this article, the authors investigate the possible time-varying structure of DSGE models. They follow the study of Andrle et al. (2009), which argues that models designed for monetary policy analysis and forecasting of an economy that is undergoing structural changes must include exogenous processes (technologies) capturing the specific characteristics of individual sectors. The authors conclude that the presence of structural changes and the convergence process in the data imply drifting of structural parameters in the model without technologies. Incorporating technologies causes the structural parameters to be relatively stable. From the perspective of monetary policy analysis and forecasting, it seems more convenient to assume that the structuralparameters are stable and use sectoral technologies owing to their aggregate form.
Czech name
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Czech description
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Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50201 - Economic Theory

Project
<a href="/en/project/1M0524" target="_blank" >1M0524: Research center on competitiveness of Czech economy</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)<br>S - Specificky vyzkum na vysokych skolach

Publication year
2011
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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