Structural Differences and Asymmetric Shocks between the Czech Economy and the Euro Area 12

Varování

Publikace nespadá pod Fakultu sportovních studií, ale pod Ekonomicko-správní fakultu. Oficiální stránka publikace je na webu muni.cz.

Autoři	SLANICAY Martin
Rok publikování	2011
Druh	Článek v odborném periodiku
Časopis / Zdroj	Národohospodářský obzor – Review of Economic Perspectives
Fakulta / Pracoviště MU	Ekonomicko-správní fakulta
Citace
Obor	Ekonomie
Klíčová slova	New Keynesian; DSGE model; Bayes factor; Bayesian estimation; structural differences; asymmetric shocks; model comparison
Popis	The goal of this paper is to determine whether there exist asymmetric shocks and structural differences between the Czech economy and the Euro Area 12. A New Keynesian DSGE model of a small open economy is used for this purpose. Asymmetric shocks and structural differences are examined in two ways. Firstly, I examine asymmetry of shocks and sources of structural differences, using model comparison based on the Bayes factor. Secondly, I investigate impact of structural differences and differences in persistence and volatility of structural shocks on the behavior of both economies, using analysis of impulse-response functions.
Související projekty:	Centrum výzkumu konkurenční schopnosti české ekonomiky