Impact of Labour and Growth Shocks in Small Open Economy: DSGE Approach

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F20%3A00116413" target="_blank" >RIV/00216224:14560/20:00116413 - 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 Labour and Growth Shocks in Small Open Economy: DSGE Approach

Popis výsledku v původním jazyce

This paper aims to identify the impacts of the labour market shocksfor economic growth, and the impact of the growth shocks for the labour marketvariables. We use a small open economy dynamic stochastic general equilibrium model with real wage rigidity and involuntary unemployment. The model is estimated by using a Bayesian approach and 16 observed variables from 2001Q1 to2019Q4 for the Czech economy. The main results are as follows: (i) The labour supply shocks contributed to the economic growth and induced disinflationary pressure during 2010–2017 period, but are the barrier of growth from 2018 on-wards; (ii) Productivity and domestic cost shocks are the dominant determinants of real wage growth; (iii) The effect of the domestic demand shock on the unemployment is twice as large as the foreign demand shock.

Název v anglickém jazyce

Impact of Labour and Growth Shocks in Small Open Economy: DSGE Approach

Popis výsledku anglicky

This paper aims to identify the impacts of the labour market shocksfor economic growth, and the impact of the growth shocks for the labour marketvariables. We use a small open economy dynamic stochastic general equilibrium model with real wage rigidity and involuntary unemployment. The model is estimated by using a Bayesian approach and 16 observed variables from 2001Q1 to2019Q4 for the Czech economy. The main results are as follows: (i) The labour supply shocks contributed to the economic growth and induced disinflationary pressure during 2010–2017 period, but are the barrier of growth from 2018 on-wards; (ii) Productivity and domestic cost shocks are the dominant determinants of real wage growth; (iii) The effect of the domestic demand shock on the unemployment is twice as large as the foreign demand shock.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2020

Kód důvěrnosti údajů

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

Název statě ve sborníku

38th International Conferenceon Mathematical Methods in Economics (MME 2020) Conference Proceedings

ISBN

9788075097347

ISSN

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e-ISSN

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Počet stran výsledku

7

Strana od-do

39-45

Název nakladatele

Mendel University Publishing Center

Místo vydání

Brno

Místo konání akce

Brno

Datum konání akce

1. 1. 2020

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

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