Czech and Slovak economy during the Great Recession through the lens of a DSGE model

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F14%3A00078711" target="_blank" >RIV/00216224:14560/14:00078711 - isvavai.cz</a>

Výsledek na webu

<a href="http://eter.nhf.euba.sk/docs/eter-2014-conference-proceedings.pdf" target="_blank" >http://eter.nhf.euba.sk/docs/eter-2014-conference-proceedings.pdf</a>

DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Czech and Slovak economy during the Great Recession through the lens of a DSGE model

Popis výsledku v původním jazyce

In this paper, we compare the changes in the structure and behaviour of the Czech and Slovak economy in a turbulent period of the Great recession and subsequent return to the long-run growth equilibrium. While the structure of both economies is very similar, there are also important differences that became more pronounced during the recession period, when Slovakia entered the euro area. It is our goal to identify the most important changes in behaviour and underlying structure of the two economies and to outline the implications for further development. Both small open economies are represented by nonlinear dynamic stochastic model of a general equilibrium with financial accelerator. In order to capture the Slovak accession to the euro area, deterministic regime switch is implemented in the model of the Slovak economy. The development of the time-varying structural parameters is identified using the second order approximation of a nonlinear DSGE model.

Název v anglickém jazyce

Czech and Slovak economy during the Great Recession through the lens of a DSGE model

Popis výsledku anglicky

In this paper, we compare the changes in the structure and behaviour of the Czech and Slovak economy in a turbulent period of the Great recession and subsequent return to the long-run growth equilibrium. While the structure of both economies is very similar, there are also important differences that became more pronounced during the recession period, when Slovakia entered the euro area. It is our goal to identify the most important changes in behaviour and underlying structure of the two economies and to outline the implications for further development. Both small open economies are represented by nonlinear dynamic stochastic model of a general equilibrium with financial accelerator. In order to capture the Slovak accession to the euro area, deterministic regime switch is implemented in the model of the Slovak economy. The development of the time-varying structural parameters is identified using the second order approximation of a nonlinear DSGE model.

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

Proceedings of the 5th International Scientific Conference Economic Theory & Economic Reality ETER 2014

ISBN

9788022538848

ISSN

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e-ISSN

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Počet stran výsledku

11

Strana od-do

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Název nakladatele

University of Economics

Místo vydání

Bratislava

Místo konání akce

Bratislava

Datum konání akce

1. 1. 2014

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

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