Sectoral Indebtedness and Its Influence on Output of the Czech Economy

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F24%3A43925021" target="_blank" >RIV/62156489:43110/24:43925021 - isvavai.cz</a>

Výsledek na webu

<a href="https://doi.org/10.1108/978-1-83753-840-920241015" target="_blank" >https://doi.org/10.1108/978-1-83753-840-920241015</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1108/978-1-83753-840-920241015" target="_blank" >10.1108/978-1-83753-840-920241015</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Sectoral Indebtedness and Its Influence on Output of the Czech Economy

Popis výsledku v původním jazyce

This chapter examines the impact of sectoral indebtedness on GDP in Czechia, initially a low-indebted small open economy in which debt dynamics are becoming a major concern. The impact of household debt, non-financial corporation debt and public debt is analysed with the use of local projections based on instrumental variable estimations. The results show a more pronounced influence of household debt compared to non-financial corporation and government debt. Initially, increasing household debt stimulates short-run economic activity, but in the medium run, it limits household consumption and negatively affects output. This negative impact gradually turns into a positive effect in the long run. Non-financial corporation debt has a negative short- to medium-run impact but can have a small positive effect in the long run due to the prevalence of tradable industries. Public debt initially has a short-run negative impact, but then gradually becomes positive. Overall, the findings have implications for macroeconomic policies and the importance of monitoring financial stability.

Název v anglickém jazyce

Sectoral Indebtedness and Its Influence on Output of the Czech Economy

Popis výsledku anglicky

This chapter examines the impact of sectoral indebtedness on GDP in Czechia, initially a low-indebted small open economy in which debt dynamics are becoming a major concern. The impact of household debt, non-financial corporation debt and public debt is analysed with the use of local projections based on instrumental variable estimations. The results show a more pronounced influence of household debt compared to non-financial corporation and government debt. Initially, increasing household debt stimulates short-run economic activity, but in the medium run, it limits household consumption and negatively affects output. This negative impact gradually turns into a positive effect in the long run. Non-financial corporation debt has a negative short- to medium-run impact but can have a small positive effect in the long run due to the prevalence of tradable industries. Public debt initially has a short-run negative impact, but then gradually becomes positive. Overall, the findings have implications for macroeconomic policies and the importance of monitoring financial stability.

Druh

C - Kapitola v odborné knize

CEP obor

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OECD FORD obor

50201 - Economic Theory

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2024

Kód důvěrnosti údajů

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

Název knihy nebo sborníku

Modeling Economic Growth in Contemporary Czechia

ISBN

978-1-83753-841-6

Počet stran výsledku

20

Strana od-do

231-250

Počet stran knihy

322

Název nakladatele

Emerald Group Publishing Ltd.

Místo vydání

Bingley

Kód UT WoS kapitoly

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