Evaluating the Performance of an Estimated DSGE Model for the Czech Economy

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F16%3A00089357" target="_blank" >RIV/00216224:14560/16:00089357 - isvavai.cz</a>
Result on the web
<a href="http://fim2.uhk.cz/hed/images/KOMPLET_16.pdf" target="_blank" >http://fim2.uhk.cz/hed/images/KOMPLET_16.pdf</a>
DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Evaluating the Performance of an Estimated DSGE Model for the Czech Economy
Original language description
This paper investigates the behaviour of the Czech economy using a new Keynesian dynamic stochastic general equilibrium model for a small open economy. The goal is to assess the degree of rigidities in the Czech labour market. To achieve this goal, we estimate a model containing labour market frictions in form of search and matching processes, vacancy creation costs and wage adjustment costs. Furthermore, we evaluate the model’s ability to capture the development of the observed variables in the examined period from 1999Q1 to 2015Q2. We compute conditional forecasts and stochastic simulations, which are then used for moment and correlation comparisons and calculation of the Beveridge curve. Our findings suggest, that there are some frictions in the Czech economy. According to our results, the model performed partially well.
Czech name
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Czech description
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Publication year
2016
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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