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Description
  • This paper deals with estimation of DSGE model of open economy with nominal rigidities and assessing of its data fit. The model is estimated using Bayesian techniques on data of Czech economy. Estimated values of structural parameters are economically interpreted. Assessing of model fit to data is carried out along several dimensions. Firstly, the fitted series are compared with observed series. Secondly, the volatility and the autocorrelations implied by the model are compared with the statistics calculated from the data. And thirdly, estimated unobserved shocks give picture of important events in the Czech economy. Despite few failures, overall fit of the model to the data can be considered as satisfactory.
  • This paper deals with estimation of DSGE model of open economy with nominal rigidities and assessing of its data fit. The model is estimated using Bayesian techniques on data of Czech economy. Estimated values of structural parameters are economically interpreted. Assessing of model fit to data is carried out along several dimensions. Firstly, the fitted series are compared with observed series. Secondly, the volatility and the autocorrelations implied by the model are compared with the statistics calculated from the data. And thirdly, estimated unobserved shocks give picture of important events in the Czech economy. Despite few failures, overall fit of the model to the data can be considered as satisfactory. (en)
Title
  • DSGE model with nominal rigidities: estimation and assessing of fit
  • DSGE model with nominal rigidities: estimation and assessing of fit (en)
skos:prefLabel
  • DSGE model with nominal rigidities: estimation and assessing of fit
  • DSGE model with nominal rigidities: estimation and assessing of fit (en)
skos:notation
  • RIV/00216224:14560/08:00026756!RIV10-MSM-14560___
http://linked.open...avai/riv/aktivita
http://linked.open...avai/riv/aktivity
  • P(1M0524)
http://linked.open...iv/cisloPeriodika
  • 25
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
  • 364465
http://linked.open...ai/riv/idVysledku
  • RIV/00216224:14560/08:00026756
http://linked.open...riv/jazykVysledku
http://linked.open.../riv/klicovaSlova
  • DSGE mode; open economy; nominal rigidities; Bayesian estimation; maximum likelihood; data fit (en)
http://linked.open.../riv/klicoveSlovo
http://linked.open...odStatuVydavatele
  • CZ - Česká republika
http://linked.open...ontrolniKodProRIV
  • [582DC8048310]
http://linked.open...i/riv/nazevZdroje
  • Bulletin of the Czech Econometric Society
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...v/svazekPeriodika
  • 15
http://linked.open...iv/tvurceVysledku
  • Hloušek, Miroslav
issn
  • 1212-074X
number of pages
http://localhost/t...ganizacniJednotka
  • 14560
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