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Description
  • The article presents a dynamic stochastic general equilibrium (DSGE) model of a small open economy. It is based on the New Open Economy Macroeconomics (NOEM) concept and derived from microeconomic foundations. Behavior of representative households and firms contains rigidities. Structure of goods is composed of tradables and non-tradables. Monetary policy implementation is represented by a generalized Taylor rule within the inflation targeting regime. Foreign sector is exogenous, however, it is described by structural equations for a closed economy model structure. A Bayesian technique using prior information is employed for an estimation of parameters of a solved model. The estimated model and impulse response functions seem to present a suitable approximation of behavior for the small open Czech economy with inflation targeting regime.
  • The article presents a dynamic stochastic general equilibrium (DSGE) model of a small open economy. It is based on the New Open Economy Macroeconomics (NOEM) concept and derived from microeconomic foundations. Behavior of representative households and firms contains rigidities. Structure of goods is composed of tradables and non-tradables. Monetary policy implementation is represented by a generalized Taylor rule within the inflation targeting regime. Foreign sector is exogenous, however, it is described by structural equations for a closed economy model structure. A Bayesian technique using prior information is employed for an estimation of parameters of a solved model. The estimated model and impulse response functions seem to present a suitable approximation of behavior for the small open Czech economy with inflation targeting regime. (en)
Title
  • An Estimated Model of the Small Open Czech Economy with a Non-tradable Sector
  • An Estimated Model of the Small Open Czech Economy with a Non-tradable Sector (en)
skos:prefLabel
  • An Estimated Model of the Small Open Czech Economy with a Non-tradable Sector
  • An Estimated Model of the Small Open Czech Economy with a Non-tradable Sector (en)
skos:notation
  • RIV/00216224:14560/09:00038078!RIV10-MSM-14560___
http://linked.open...avai/riv/aktivita
http://linked.open...avai/riv/aktivity
  • P(1M0524), S
http://linked.open...iv/cisloPeriodika
  • 26
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
  • 302714
http://linked.open...ai/riv/idVysledku
  • RIV/00216224:14560/09:00038078
http://linked.open...riv/jazykVysledku
http://linked.open.../riv/klicovaSlova
  • DSGE model; small open economy; non-tradable sector; Bayesian estimation (en)
http://linked.open.../riv/klicoveSlovo
http://linked.open...odStatuVydavatele
  • CZ - Česká republika
http://linked.open...ontrolniKodProRIV
  • [5B4CB75CD73C]
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
  • 16
http://linked.open...iv/tvurceVysledku
  • Musil, Karel
issn
  • 1212-074X
number of pages
http://localhost/t...ganizacniJednotka
  • 14560
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