Financial Frictions in a Small Open Economy: The Case of Czech Republic

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F20%3A00116453" target="_blank" >RIV/00216224:14560/20:00116453 - 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
Financial Frictions in a Small Open Economy: The Case of Czech Republic
Original language description
In the period during the Great Recession, it has been clear that financial factors played important role in economic downturn. Hence, abstracting from them in the business cycle modelling is currently no longer a valid simplification. In the submitted paper, we interpret structure and behaviour of a bayesian small open economy DSGE model with financial frictions. Originally, this is a Swedish New Keynesian model estimated and analysed on Czech data. Czech economy has been currently overheating and is subject to turbulent development in terms of key macroeconomic variables. The aim is to contribute in understanding financial frictions in the Czech economy and their impact on business cycle. We provide results of the economy in the period of recession and overheating using impulse responses framework and shock decomposition techniques. Where possible, financial frictions specification is compared to a baseline (frictionless) model.
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 Conference on Mathematical Methods in Economics
ISBN
9788075097347
ISSN
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e-ISSN
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Number of pages
6
Pages from-to
410-415
Publisher name
Mendel University in Brno
Place of publication
Brno
Event location
Brno
Event date
Jan 1, 2020
Type of event by nationality
CST - Celostátní akce
UT code for WoS article
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