Output gap in the Czech economy: DSGE approach
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F19%3A00109994" target="_blank" >RIV/00216224:14560/19:00109994 - isvavai.cz</a>
Result on the web
<a href="http://nho.econ.muni.cz/19-2019/2-2019/output-gap-czech-economy-dsge-approach" target="_blank" >http://nho.econ.muni.cz/19-2019/2-2019/output-gap-czech-economy-dsge-approach</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.2478/revecp-2019-0008" target="_blank" >10.2478/revecp-2019-0008</a>
Alternative languages
Result language
angličtina
Original language name
Output gap in the Czech economy: DSGE approach
Original language description
This paper presents three measures of the output gap estimated by a dynamic stochastic general equilibrium model of the Czech economy. We argue that the most plausible description of the business cycle provides the output gap defined as a deviation from a flexible price level of output, which is generated solely by permanent growth shocks. Our model shows that 2006-2008 overheating of the economy and the following 2008-2009 slump can be largely attributed to development in a world economy and export and import sectors, while the 2012-2013 recession was caused mainly by a combination of adverse domestic demand and cost shocks.
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
50202 - Applied Economics, Econometrics
Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2019
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Review of Economic Perspectives
ISSN
1213-2446
e-ISSN
1804-1663
Volume of the periodical
19
Issue of the periodical within the volume
2
Country of publishing house
PL - POLAND
Number of pages
20
Pages from-to
137-156
UT code for WoS article
000473304700004
EID of the result in the Scopus database
2-s2.0-85068394906