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  • In our contribution, we estimate the output gap that is consistent with a fully specified DSGE model. The output gap is defined in this framework as a deviation of actual output from its flexible-price equilibrium level. The flexible-price equilibrium corresponds to the state of the economy with more efficient allocation. These estimates are thus useful indicators for monetary policy. Our output gap illustrates Czech business cycles which are rather different to other estimates (e.g. HP filter). This result may be typical for economies in transition. Moreover, our results for the Czech economy show that the turning points in the gaps are accompanied by government changes.
  • In our contribution, we estimate the output gap that is consistent with a fully specified DSGE model. The output gap is defined in this framework as a deviation of actual output from its flexible-price equilibrium level. The flexible-price equilibrium corresponds to the state of the economy with more efficient allocation. These estimates are thus useful indicators for monetary policy. Our output gap illustrates Czech business cycles which are rather different to other estimates (e.g. HP filter). This result may be typical for economies in transition. Moreover, our results for the Czech economy show that the turning points in the gaps are accompanied by government changes. (en)
Title
  • Estimating output gap in the Czech Republic: DSGE approach
  • Estimating output gap in the Czech Republic: DSGE approach (en)
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  • Estimating output gap in the Czech Republic: DSGE approach
  • Estimating output gap in the Czech Republic: DSGE approach (en)
skos:notation
  • RIV/00216224:14560/09:00036677!RIV10-MSM-14560___
http://linked.open...avai/riv/aktivita
http://linked.open...avai/riv/aktivity
  • P(1M0524), S
http://linked.open...vai/riv/dodaniDat
http://linked.open...aciTvurceVysledku
http://linked.open.../riv/druhVysledku
http://linked.open...iv/duvernostUdaju
http://linked.open...titaPredkladatele
http://linked.open...dnocenehoVysledku
  • 313568
http://linked.open...ai/riv/idVysledku
  • RIV/00216224:14560/09:00036677
http://linked.open...riv/jazykVysledku
http://linked.open.../riv/klicovaSlova
  • Output gap; DSGE models; Bayesian estimation (en)
http://linked.open.../riv/klicoveSlovo
http://linked.open...ontrolniKodProRIV
  • [7F65D7D01F78]
http://linked.open...v/mistoKonaniAkce
  • Kostelec nad Černými Lesy
http://linked.open...i/riv/mistoVydani
  • Praha
http://linked.open...i/riv/nazevZdroje
  • Mathematical Methods in Economics 2009
http://linked.open...in/vavai/riv/obor
http://linked.open...ichTvurcuVysledku
http://linked.open...cetTvurcuVysledku
http://linked.open...vavai/riv/projekt
http://linked.open...UplatneniVysledku
http://linked.open...iv/tvurceVysledku
  • Němec, Daniel
  • Herber, Pavel
http://linked.open...vavai/riv/typAkce
http://linked.open...ain/vavai/riv/wos
  • 000275146900021
http://linked.open.../riv/zahajeniAkce
number of pages
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  • Česká zemědělská univerzita v Praze
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  • 978-80-213-1963-9
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  • 14560
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