Citlivost DSGE modelu na změny chování ekonomiky v období krize
| Title in English | DSGE model sensitivity to changes in behavior of the economy during crisis |
|---|---|
| Authors | |
| Year of publication | 2010 |
| Type | Chapter of a book |
| MU Faculty or unit | |
| Citation | |
| Description | The goal of the subchapter is to investigate changes in behavior of an economy represented by a DSGE model during economic crisis. Analytical results of DSGE model sensitivity analysis allow for evaluating two hypotheses (i) the structure of relationships in the economy does not change during crisis, (ii) the behavior of the economy changes during crisis substantially and so do structural parameters that represent the economy. The analysis evaluates, whether the model is capable of detecting changes in structural parameters and the degree, with which it represents the behavior of real economy. Sensitivity analysis will be applied to variant model estimates on real economic data during period before crisis and during period with crisis data. The results show that the second hypothesis is confirmed, i. e. the behavior of the economy changes substantially during crisis and so do structural parameters that represent Czech economy in interaction with Eurozone economy, which leads to changes in behavior of the economy simulated by the model. |
| Related projects: |