The relevance of financial frictions in V4 countries from the DSGE perspective

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F15%3A00086861" target="_blank" >RIV/00216224:14560/15:00086861 - isvavai.cz</a>

Výsledek na webu

<a href="http://www.ekf.vsb.cz/cerei/cs/cisla/vol18num3/" target="_blank" >http://www.ekf.vsb.cz/cerei/cs/cisla/vol18num3/</a>

DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

The relevance of financial frictions in V4 countries from the DSGE perspective

Popis výsledku v původním jazyce

In this paper, the importance of the financial frictions in the countries of the Visegrád Group is compared using a set of estimated DSGE models with a financial accelerator. The results of the Bayesian estimation confirm the overall similarity of the V4economies, with some notable differences. The estimates of the financial friction parameters are very similar across the V4 economies, which may be explained by the fact that most commercial banks operating in these economies are subsidiaries of large international groups, which treat the V4 markets in similar ways. According to the historical shock decomposition, the importance of the net worth shock for the development of real output is comparable to that of the domestic productivity shock or the total of foreign shocks. In the case of the inflation rate, the importance of the net worth shock is comparable to the sum of the foreign shocks.

Název v anglickém jazyce

The relevance of financial frictions in V4 countries from the DSGE perspective

Popis výsledku anglicky

In this paper, the importance of the financial frictions in the countries of the Visegrád Group is compared using a set of estimated DSGE models with a financial accelerator. The results of the Bayesian estimation confirm the overall similarity of the V4economies, with some notable differences. The estimates of the financial friction parameters are very similar across the V4 economies, which may be explained by the fact that most commercial banks operating in these economies are subsidiaries of large international groups, which treat the V4 markets in similar ways. According to the historical shock decomposition, the importance of the net worth shock for the development of real output is comparable to that of the domestic productivity shock or the total of foreign shocks. In the case of the inflation rate, the importance of the net worth shock is comparable to the sum of the foreign shocks.

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

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

2015

Kód důvěrnosti údajů

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

Název periodika

Ekonomická revue

ISSN

1212-3951

e-ISSN

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Svazek periodika

18

Číslo periodika v rámci svazku

3

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

8

Strana od-do

111-118

Kód UT WoS článku

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EID výsledku v databázi Scopus

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