Financial Frictions in a Small Open Economy: The Case of Czech Republic

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F20%3A00116453" target="_blank" >RIV/00216224:14560/20:00116453 - 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

Financial Frictions in a Small Open Economy: The Case of Czech Republic

Popis výsledku v původním jazyce

In the period during the Great Recession, it has been clear that financial factors played important role in economic downturn. Hence, abstracting from them in the business cycle modelling is currently no longer a valid simplification. In the submitted paper, we interpret structure and behaviour of a bayesian small open economy DSGE model with financial frictions. Originally, this is a Swedish New Keynesian model estimated and analysed on Czech data. Czech economy has been currently overheating and is subject to turbulent development in terms of key macroeconomic variables. The aim is to contribute in understanding financial frictions in the Czech economy and their impact on business cycle. We provide results of the economy in the period of recession and overheating using impulse responses framework and shock decomposition techniques. Where possible, financial frictions specification is compared to a baseline (frictionless) model.

Název v anglickém jazyce

Financial Frictions in a Small Open Economy: The Case of Czech Republic

Popis výsledku anglicky

In the period during the Great Recession, it has been clear that financial factors played important role in economic downturn. Hence, abstracting from them in the business cycle modelling is currently no longer a valid simplification. In the submitted paper, we interpret structure and behaviour of a bayesian small open economy DSGE model with financial frictions. Originally, this is a Swedish New Keynesian model estimated and analysed on Czech data. Czech economy has been currently overheating and is subject to turbulent development in terms of key macroeconomic variables. The aim is to contribute in understanding financial frictions in the Czech economy and their impact on business cycle. We provide results of the economy in the period of recession and overheating using impulse responses framework and shock decomposition techniques. Where possible, financial frictions specification is compared to a baseline (frictionless) model.

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 Conference on Mathematical Methods in Economics

ISBN

9788075097347

ISSN

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e-ISSN

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Počet stran výsledku

6

Strana od-do

410-415

Název nakladatele

Mendel University in Brno

Místo vydání

Brno

Místo konání akce

Brno

Datum konání akce

1. 1. 2020

Typ akce podle státní příslušnosti

CST - Celostátní akce

Kód UT WoS článku

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