DSGE model with housing sector: application to the Czech economy

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F13%3A00069293" target="_blank" >RIV/00216224:14560/13:00069293 - isvavai.cz</a>
Result on the web
<a href="http://www.econ.muni.cz/~hlousek/papers/housing.pdf" target="_blank" >http://www.econ.muni.cz/~hlousek/papers/housing.pdf</a>
DOI - Digital Object Identifier
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Result language
angličtina
Original language name
DSGE model with housing sector: application to the Czech economy
Original language description
This paper deals with multi-sector DSGE model that is estimated on Czech economy data. The model is taken from Iacoviello and Neri (2010). There are two production sectors: consumption/investment goods sector and housing sector. These sectors contain various types of nominal and real rigidities and also different technological trends. On the demand side, there is financial friction in the form of collateral constraint which affects borrowing capacity and consumer spending. The model is estimated using Bayesian techniques. The parameters are economically interpreted, the model moments are compared to moments from data and dynamical properties of the model are studied using impulse responses and variance and shock decompositions. Results show that monetary policy has more pronounced effect on consumption and output when houses are better collateralizable.
Czech name
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Czech description
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Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2013
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Proceedings of 31th International Conference Mathematical Methods in Economics
ISBN
9788087035764
ISSN
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e-ISSN
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Number of pages
6
Pages from-to
261-266
Publisher name
College of Polytechnics Jihlava
Place of publication
Jihlava
Event location
Jihlava
Event date
Sep 11, 2013
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
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