Slovak Economy in a Period of Recession: Nonlinear DSGE Model with Time-varying Parameters

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F15%3A00082435" target="_blank" >RIV/00216224:14560/15:00082435 - isvavai.cz</a>
Result on the web
<a href="http://www.ekonom.sav.sk/sk/casopis/rocnik/1-2015" target="_blank" >http://www.ekonom.sav.sk/sk/casopis/rocnik/1-2015</a>
DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Slovak Economy in a Period of Recession: Nonlinear DSGE Model with Time-varying Parameters
Original language description
In this paper, we study the dramatic changes in the structure and behaviour of the Slovak economy in a period of the accession to the Euro area and the Great Recession and subsequent return to the long-run growth equilibrium. This small and very open economy is represented by nonlinear dynamic stochastic model of a general equilibrium with financial accelerator. The development of time-varying structural parameters is identified using the second order approximation of a nonlinear DSGE model. The model is estimated with the use of nonlinear particle filter. Analogous model was estimated for the economy of the Euro area. It is our goal to identify the most important changes in behaviour and underlying structure of the Slovak economy. In order to distinguish the country specific changes from broader Europe-wide trends we also compare the time-varying estimates of the Slovak economy and the Euro area.
Czech name
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Czech description
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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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Publication year
2015
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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