Impact of Asymmetric Shocks and Structural Differences between the Czech Economy and Euro Area 12

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F11%3A00074557" target="_blank" >RIV/00216224:14560/11:00074557 - 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

Impact of Asymmetric Shocks and Structural Differences between the Czech Economy and Euro Area 12

Popis výsledku v původním jazyce

In this paper I present a new approach for analysis of asymmetric shocks and structural differences between two countries, using shock decomposition. An advantage of this method is that it jointly examines the impacts of asymmetric shocks and structuraldifferences. I demonstrate this method using a DSGE model of two economies, presented in Kolasa (2009). Results suggest that impacts of structural shocks are more correlated than it seems from estimated correlations between shocks alone. The largest correlations are between impacts of shocks on inflations and interest rates. I also find that an evolution of variables in the Czech economy is relatively more influenced by shocks in productivity while the evolution of variables in Euro Area 12 is relatively more influenced by investment efficiency shocks. It also seems that the monetary policy of the ECB is relatively more discretionary than the monetary policy of the CNB, nevertheless it seems that the CNB follows the ECB in their discret

Název v anglickém jazyce

Impact of Asymmetric Shocks and Structural Differences between the Czech Economy and Euro Area 12

Popis výsledku anglicky

In this paper I present a new approach for analysis of asymmetric shocks and structural differences between two countries, using shock decomposition. An advantage of this method is that it jointly examines the impacts of asymmetric shocks and structuraldifferences. I demonstrate this method using a DSGE model of two economies, presented in Kolasa (2009). Results suggest that impacts of structural shocks are more correlated than it seems from estimated correlations between shocks alone. The largest correlations are between impacts of shocks on inflations and interest rates. I also find that an evolution of variables in the Czech economy is relatively more influenced by shocks in productivity while the evolution of variables in Euro Area 12 is relatively more influenced by investment efficiency shocks. It also seems that the monetary policy of the ECB is relatively more discretionary than the monetary policy of the CNB, nevertheless it seems that the CNB follows the ECB in their discret

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

2011

Kód důvěrnosti údajů

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

Název statě ve sborníku

Mathematical Methods in Economics 2011

ISBN

9788074310584

ISSN

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e-ISSN

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Počet stran výsledku

6

Strana od-do

635-640

Název nakladatele

University of Economics, Faculty of Informatics and Statistics

Místo vydání

Prague

Místo konání akce

Janska Dolina (SR)

Datum konání akce

1. 1. 2011

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

000309074600105