Structural changes in the Czech, Slovak and euro area economies during the Great Recession

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F16%3A00092500" target="_blank" >RIV/00216224:14560/16:00092500 - isvavai.cz</a>

Result on the web

<a href="https://www.degruyter.com/downloadpdf/j/revecp.2016.16.issue-4/revecp-2016-0018/revecp-2016-0018.xml" target="_blank" >https://www.degruyter.com/downloadpdf/j/revecp.2016.16.issue-4/revecp-2016-0018/revecp-2016-0018.xml</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1515/revecp-2016-0018" target="_blank" >10.1515/revecp-2016-0018</a>

Result language

angličtina

Original language name

Structural changes in the Czech, Slovak and euro area economies during the Great Recession

Original language description

The goal of this paper is to identify and compare the most important changes in the structure of the Czech economy, as a small open economy with independent monetary policy, the Slovak economy, as a small open economy that entered monetary union, and the economy of the euro area, which has a common monetary policy, during the turbulent period of the Great Recession, the subsequent anaemic recovery and recent disinflationary period. Structural changes are identified with the help of nonlinear dynamic stochastic models of general equilibrium with time-varying parameters. The model parameters are estimated using Bayesian methods and a nonlinear particle filter. The results confirm the similarity of the Czech and Slovak economies and show that in certain respects the structure of the Czech economy might be closer to that of the euro area than that of Slovakia. The time-varying estimates reveal many similarities between the parameter changes in the Czech economy and those in the euro area.

Czech name

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Czech description

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Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

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OECD FORD branch

50201 - Economic Theory

Project

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Continuities

S - Specificky vyzkum na vysokych skolach

Publication year

2016

Confidentiality

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

Name of the periodical

Review of Economic Perspectives - Národohospodářský obzor

ISSN

1213-2446

e-ISSN

—

Volume of the periodical

16

Issue of the periodical within the volume

4

Country of publishing house

DE - GERMANY

Number of pages

40

Pages from-to

297-336

UT code for WoS article

000406945200002

EID of the result in the Scopus database

2-s2.0-85008199394