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Analysis of Structural Differences and Asymmetry of Shocks Between the Czech Economy and the Euro Area

The result's identifiers

  • Result code in IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F16%3A00089585" target="_blank" >RIV/00216224:14560/16:00089585 - isvavai.cz</a>

  • Result on the web

    <a href="https://www.czso.cz/csu/czso/statistika-statistics-and-economy-journal-no-12016" target="_blank" >https://www.czso.cz/csu/czso/statistika-statistics-and-economy-journal-no-12016</a>

  • DOI - Digital Object Identifier

Alternative languages

  • Result language

    angličtina

  • Original language name

    Analysis of Structural Differences and Asymmetry of Shocks Between the Czech Economy and the Euro Area

  • Original language description

    The goal of this paper is to examine asymmetry of shocks and structural differences between the Czech economy and the euro area. For this purpose I use a New Keynesian DSGE model of two economies. Structural differences are examined using the posterior distributions of structural parameters. Results suggest that prices are more sticky in the Czech economy, especially in the non-tradable sector, while wages are more sticky in the euro area. It seems that the ECB smooths less the interest rate and reacts more to the development in output and inflation than the Czech National Bank. It also seems that labor supply in the Czech economy is more elastic than labor supply in the euro area. Asymmetry of shocks is examined using correlations between smoothed shocks obtained from the estimation.

  • Czech name

  • Czech description

Classification

  • Type

    J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database

  • CEP classification

  • OECD FORD branch

    50200 - Economics and Business

Result continuities

  • Project

  • Continuities

    S - Specificky vyzkum na vysokych skolach

Others

  • Publication year

    2016

  • Confidentiality

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Data specific for result type

  • Name of the periodical

    Statistika: Statistics and Economy Journal

  • ISSN

    0322-788X

  • e-ISSN

    1804-8765

  • Volume of the periodical

    96

  • Issue of the periodical within the volume

    1

  • Country of publishing house

    CZ - CZECH REPUBLIC

  • Number of pages

    16

  • Pages from-to

    34-49

  • UT code for WoS article

    000376558500003

  • EID of the result in the Scopus database

    2-s2.0-84962905982