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
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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
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50200 - Economics and Business
Result continuities
Project
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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