Impact of Labour and Growth Shocks in Small Open Economy: DSGE Approach

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F20%3A00116413" target="_blank" >RIV/00216224:14560/20:00116413 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Impact of Labour and Growth Shocks in Small Open Economy: DSGE Approach
Original language description
This paper aims to identify the impacts of the labour market shocksfor economic growth, and the impact of the growth shocks for the labour marketvariables. We use a small open economy dynamic stochastic general equilibrium model with real wage rigidity and involuntary unemployment. The model is estimated by using a Bayesian approach and 16 observed variables from 2001Q1 to2019Q4 for the Czech economy. The main results are as follows: (i) The labour supply shocks contributed to the economic growth and induced disinflationary pressure during 2010–2017 period, but are the barrier of growth from 2018 on-wards; (ii) Productivity and domestic cost shocks are the dominant determinants of real wage growth; (iii) The effect of the domestic demand shock on the unemployment is twice as large as the foreign demand shock.
Czech name
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Czech description
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Publication year
2020
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
38th International Conferenceon Mathematical Methods in Economics (MME 2020) Conference Proceedings
ISBN
9788075097347
ISSN
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e-ISSN
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Number of pages
7
Pages from-to
39-45
Publisher name
Mendel University Publishing Center
Place of publication
Brno
Event location
Brno
Event date
Jan 1, 2020
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
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