Analysis of interactions between Czech and Slovak economy

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F10%3A00044755" target="_blank" >RIV/00216224:14560/10:00044755 - 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

Analysis of interactions between Czech and Slovak economy

Popis výsledku v původním jazyce

The paper deals with behaviour of Czech and Slovak economy. For this purpose we have developed a two-country model with an exogenous foreign sector following the New Open Economy Macroeconomics (NOEM) paradigm. The main features of the NOEM are nominal rigidities and market imperfections which provide influential role for monetary policy. The model assumes optimizing households and monopolistically competitive firms, monetary policy conducted according to a Taylor rule, complete international financialmarket and competitive labour market. The sticky price setting of producers presents nominal rigidities in the model. The need for exogenous foreign sector is given by the membership of both countries in the EU. This paper presents the results from Bayesian estimation (which is incorporated in Dynare toolbox for Matlab). Specifically, we offer estimated values of structural parameters and impulse response functions. Both are used to assess the influence of one economy to another.

Název v anglickém jazyce

Analysis of interactions between Czech and Slovak economy

Popis výsledku anglicky

The paper deals with behaviour of Czech and Slovak economy. For this purpose we have developed a two-country model with an exogenous foreign sector following the New Open Economy Macroeconomics (NOEM) paradigm. The main features of the NOEM are nominal rigidities and market imperfections which provide influential role for monetary policy. The model assumes optimizing households and monopolistically competitive firms, monetary policy conducted according to a Taylor rule, complete international financialmarket and competitive labour market. The sticky price setting of producers presents nominal rigidities in the model. The need for exogenous foreign sector is given by the membership of both countries in the EU. This paper presents the results from Bayesian estimation (which is incorporated in Dynare toolbox for Matlab). Specifically, we offer estimated values of structural parameters and impulse response functions. Both are used to assess the influence of one economy to another.

Druh

D - Stať ve sborníku

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2010

Kód důvěrnosti údajů

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

Název statě ve sborníku

Mathematical Methods in Economics 2010

ISBN

978-80-7394-218-2

ISSN

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e-ISSN

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Počet stran výsledku

6

Strana od-do

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Název nakladatele

University of South Bohemia, Faculty of Economics

Místo vydání

České Budějovice

Místo konání akce

České Budějovice

Datum konání akce

1. 1. 2010

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

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