Analysis of Structural Differences between Czech Economy and Euro Area using Impulse Responses

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F14%3A00076473" target="_blank" >RIV/00216224:14560/14:00076473 - isvavai.cz</a>

Výsledek na webu

<a href="http://mme2014.upol.cz/downloads/MME_2014_Proceedings.pdf" target="_blank" >http://mme2014.upol.cz/downloads/MME_2014_Proceedings.pdf</a>

DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Analysis of Structural Differences between Czech Economy and Euro Area using Impulse Responses

Popis výsledku v původním jazyce

The goal of this paper is to examine structural differences between the Czech economy and the euro area. For this purpose I use New Keynesian DSGE model of two economies which I estimate on the data of the Czech economy and the euro area, using Bayesiantechniques. The applied method is based on comparison of impulse responses and examines differences in behavior of both economies in responses to macroeconomic shocks. Results suggest that in general responses of domestic variables have the same shape asresponses of foreign variables. However, the responses of domestic variables are always larger, more persistent, and more hump-shaped. The main differences are in responses to productivity shocks in tradables and to shocks in government expenditures, while the biggest similarities are in responses to productivity shocks in non-tradables and to shocks in investment efficiency.

Název v anglickém jazyce

Analysis of Structural Differences between Czech Economy and Euro Area using Impulse Responses

Popis výsledku anglicky

The goal of this paper is to examine structural differences between the Czech economy and the euro area. For this purpose I use New Keynesian DSGE model of two economies which I estimate on the data of the Czech economy and the euro area, using Bayesiantechniques. The applied method is based on comparison of impulse responses and examines differences in behavior of both economies in responses to macroeconomic shocks. Results suggest that in general responses of domestic variables have the same shape asresponses of foreign variables. However, the responses of domestic variables are always larger, more persistent, and more hump-shaped. The main differences are in responses to productivity shocks in tradables and to shocks in government expenditures, while the biggest similarities are in responses to productivity shocks in non-tradables and to shocks in investment efficiency.

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

2014

Kód důvěrnosti údajů

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

Název statě ve sborníku

32nd International Conference Mathematical Methods in Eocnomics Conference Proceedings

ISBN

9788024442099

ISSN

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e-ISSN

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Počet stran výsledku

6

Strana od-do

914-919

Název nakladatele

Palacký University

Místo vydání

Olomouc

Místo konání akce

Olomouc

Datum konání akce

1. 1. 2014

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

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