Vývoj DSGE modelů

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Title in English	Evolution of DSGE Models
Authors	SLANICAY Martin
Year of publication	2009
Type	Article in Proceedings
Conference	MEKON 2009
MU Faculty or unit	Faculty of Economics and Administration
Citation
Field	Economy
Keywords	DSGE model; RBC; nominal rigidities; monopolistic competition
Description	The goal of this paper is to show the evolution of DSGE models and motivation, which stands behind this evolution. The earliest DSGE models were RBC models. This paper shows their pitfalls and show that these pitfalls led to the evolution of New Keynesian models. These models enriched previous concept by including some keynesian assumptions, especially monopolistic competition and nominal rigidities. This paper summarizes theoretical foundation of these assumptions, as well as empirical studies, which analyse nominal rigidities.
Related projects:	Research Centre for the Competitiveness of the Czech Economy