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  • The goal of this paper is to evaluate whether there exist some structural differences in Czech economy and Euroarea economy, concerning modelling business cycles using DSGE approach. This paper estimates several versions of a small open economy DSGE model with nominal rigidities and these versions differ in assumptions about some structural parameters. These parameters can be assumed as common for both economies or as different in these economies. Structural differences in economies can be seen as significant differences in values of these parameters. Difference is regarded as significant, if data fit of models which allow for different values of these parameters are better than data fit of those models with the common values of these parameters. All models are estimated using Bayesian techniques, particularly Metropolis-Hastings algorithm (using Dynare toolbox for Matlab). The data fit measure is a Bayes factor calculated from marginal likelihood, acquired from Bayesian estimation.
  • The goal of this paper is to evaluate whether there exist some structural differences in Czech economy and Euroarea economy, concerning modelling business cycles using DSGE approach. This paper estimates several versions of a small open economy DSGE model with nominal rigidities and these versions differ in assumptions about some structural parameters. These parameters can be assumed as common for both economies or as different in these economies. Structural differences in economies can be seen as significant differences in values of these parameters. Difference is regarded as significant, if data fit of models which allow for different values of these parameters are better than data fit of those models with the common values of these parameters. All models are estimated using Bayesian techniques, particularly Metropolis-Hastings algorithm (using Dynare toolbox for Matlab). The data fit measure is a Bayes factor calculated from marginal likelihood, acquired from Bayesian estimation. (en)
Title
  • Structural Differences in DSGE Models with Nominal Rigidities
  • Structural Differences in DSGE Models with Nominal Rigidities (en)
skos:prefLabel
  • Structural Differences in DSGE Models with Nominal Rigidities
  • Structural Differences in DSGE Models with Nominal Rigidities (en)
skos:notation
  • RIV/00216224:14560/10:00044751!RIV11-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
  • 290434
http://linked.open...ai/riv/idVysledku
  • RIV/00216224:14560/10:00044751
http://linked.open...riv/jazykVysledku
http://linked.open.../riv/klicovaSlova
  • New Keynesian; DSGE; Bayes factor; Bayesian estimation; structural parameters (en)
http://linked.open.../riv/klicoveSlovo
http://linked.open...ontrolniKodProRIV
  • [34A0D62F9154]
http://linked.open...v/mistoKonaniAkce
  • České Budějovice
http://linked.open...i/riv/mistoVydani
  • České Budějovice
http://linked.open...i/riv/nazevZdroje
  • Mathematical Methods in Economics 2010
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
  • Vašíček, Osvald
  • Slanicay, Martin
http://linked.open...vavai/riv/typAkce
http://linked.open.../riv/zahajeniAkce
number of pages
http://purl.org/ne...btex#hasPublisher
  • University of South Bohemia, Faculty of Economics
https://schema.org/isbn
  • 978-80-7394-218-2
http://localhost/t...ganizacniJednotka
  • 14560
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