DSGE model with government sector and inflation targeting: Structural changes of Czech economy in a period of recession

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F14%3A00082120" target="_blank" >RIV/00216224:14560/14:00082120 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
DSGE model with government sector and inflation targeting: Structural changes of Czech economy in a period of recession
Original language description
In the paper we compare the structure of the Czech economy in two periods: before and during the Great Recession. This small open economy is represented by two variations of a medium scale nonlinear dynamic stochastic model of a general equilibrium withscal and monetary policy. This model framework is based on a Portuguese approach introduced by Almeida (2009). We decided to use this model, because it captures the important features of the Czech economy in a reasonable detail. Since this concept was primarily constructed for the estimation of an economy in a currency union, we had to add a Taylor type monetary policy and a nominal exchange rate into the model. Both model variations are estimated with the use of bayesian techniques with the same priors, in order to analyse structural changes linked to the Great Recession. With the use of the shock decomposition we will analyse the impact of the exogenous shocks on the development of the Czech output.
Czech name
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Czech description
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Publication year
2014
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Proceedings of the 32nd International Conference Mathematical Methods in Economics
ISBN
9788024442099
ISSN
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e-ISSN
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Number of pages
6
Pages from-to
807-812
Publisher name
Palacký University
Place of publication
Olomouc
Event location
Olomouc
Event date
Jan 1, 2014
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
000356417900139

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