Financial Stress in the Czech Republic: Measurement and Effects on the Real Economy

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985556%3A_____%2F17%3A00466511" target="_blank" >RIV/67985556:_____/17:00466511 - isvavai.cz</a>
Alternative codes found
RIV/00216208:11230/17:10360467
Result on the web
<a href="http://dx.doi.org/10.18267/j.pep.608" target="_blank" >http://dx.doi.org/10.18267/j.pep.608</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.18267/j.pep.608" target="_blank" >10.18267/j.pep.608</a>

Result language
angličtina
Original language name
Financial Stress in the Czech Republic: Measurement and Effects on the Real Economy
Original language description
We estimate a financial stress index for the Czech Republic and examine its development duringnthe 2002–2014 period. We find a marked increase in financial stress at the beginning of the globalnfinancial crisis with a decrease to nearly pre-crisis levels by the end of our study period. Next,nwe estimate vector autoregression models of the Czech economy and find that financial stressnhas systematic effects on output, prices and interest rates, with the maximum response occurringnapproximately one and a half years after the shock. Specifically, an increase in financial stressnis associated with higher unemployment, lower prices and lower interest rates, indicating itsndetrimental effects on the real economy.
Czech name
—
Czech description
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Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
—
OECD FORD branch
50206 - Finance

Project
<a href="/en/project/GA15-10331S" target="_blank" >GA15-10331S: Dynamic modeling of mortgage porkredtfolio risk</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Publication year
2017
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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