Investigating structural differences of the Czech economy: Does asymmetry of shocks matter?
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F12%3A00059319" target="_blank" >RIV/00216224:14560/12:00059319 - isvavai.cz</a>
Result on the web
<a href="http://ces.utia.cas.cz/bulletin/index.php/bulletin/article/viewFile/188/173" target="_blank" >http://ces.utia.cas.cz/bulletin/index.php/bulletin/article/viewFile/188/173</a>
DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
Investigating structural differences of the Czech economy: Does asymmetry of shocks matter?
Original language description
The goal of this paper is to evaluate heterogeneity between the Czech Republic and the Euro area, because different behavior of agents or asymmetric shocks cut benefits from the entering monetary union. For this purpose, we introduce a two-country dynamic stochastic general equilibrium model that allows different sources of heterogeneity between countries. We focus on differences in structural parameters and asymmetry of shocks hitting the two economies. Using Bayesian techniques, we estimate various specifications of log-linear models (unrestricted and nested) and then we test different sources of heterogeneity. Our results indicate that the main sources of heterogeneity are price and wage rigidities and the asymmetry of shocks. On the other hand, wehave found strong evidence in favor of homogeneity in parameters describing utility function of households.
Czech name
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Czech description
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Classification
Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
AH - Economics
OECD FORD branch
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Result continuities
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
Others
Publication year
2012
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Bulletin of the Czech Econometric Society
ISSN
1212-074X
e-ISSN
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Volume of the periodical
19
Issue of the periodical within the volume
29
Country of publishing house
CZ - CZECH REPUBLIC
Number of pages
22
Pages from-to
28-49
UT code for WoS article
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EID of the result in the Scopus database
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