A Small New Keynesian Model of Slovakia

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F09%3A00036719" target="_blank" >RIV/00216224:14560/09:00036719 - isvavai.cz</a>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

A Small New Keynesian Model of Slovakia

Popis výsledku v původním jazyce

This paper deals with a small open economy New Keynesian Dynamic Stochastic General Equilibrium (NK DSGE) model and its ability to describe behaviour of the Slovak economy. The model framework consists of three home subjects: households, firms and a monetary authority. The representative household maximizes its utility function which contains a real rigidity in consumption in a form of a habit formation. The monopolistic competitive firms maximize their net present value of dividends (their profits) with respect to Calvo-type price setting. The sticky price setting of home producers and importers represents nominal rigidities in the model. Monetary policy is conducted according to a Taylor-type rule. The model includes exogenous foreign sector which isrepresented by Euroarea-12. Evaluation of the model for Slovakia is based on an analysis of impulse response functions and an assessment of estimated parameters. We compare consistency of our results with similar studies.

Název v anglickém jazyce

A Small New Keynesian Model of Slovakia

Popis výsledku anglicky

This paper deals with a small open economy New Keynesian Dynamic Stochastic General Equilibrium (NK DSGE) model and its ability to describe behaviour of the Slovak economy. The model framework consists of three home subjects: households, firms and a monetary authority. The representative household maximizes its utility function which contains a real rigidity in consumption in a form of a habit formation. The monopolistic competitive firms maximize their net present value of dividends (their profits) with respect to Calvo-type price setting. The sticky price setting of home producers and importers represents nominal rigidities in the model. Monetary policy is conducted according to a Taylor-type rule. The model includes exogenous foreign sector which isrepresented by Euroarea-12. Evaluation of the model for Slovakia is based on an analysis of impulse response functions and an assessment of estimated parameters. We compare consistency of our results with similar studies.

Druh

D - Stať ve sborníku

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

<a href="/cs/project/1M0524" target="_blank" >1M0524: Centrum výzkumu konkurenční schopnosti české ekonomiky</a><br>

Návaznosti

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)<br>S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2009

Kód důvěrnosti údajů

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

Název statě ve sborníku

Mathematical Methods in Economics 2009

ISBN

978-80-213-1963-9

ISSN

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e-ISSN

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Počet stran výsledku

6

Strana od-do

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Název nakladatele

Czech University of Life Sciences Prague

Místo vydání

Praha

Místo konání akce

Kostelec nad Černými Lesy

Datum konání akce

1. 1. 2009

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

000275146900007