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  • 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.
  • 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. (en)
Title
  • Structural Differences and Asymmetric Shocks between the Czech Economy and the Euro Area 12
  • Structural Differences and Asymmetric Shocks between the Czech Economy and the Euro Area 12 (en)
skos:prefLabel
  • Structural Differences and Asymmetric Shocks between the Czech Economy and the Euro Area 12
  • Structural Differences and Asymmetric Shocks between the Czech Economy and the Euro Area 12 (en)
skos:notation
  • RIV/00216224:14560/11:00053221!RIV12-MSM-14560___
http://linked.open...avai/riv/aktivita
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  • P(1M0524), S
http://linked.open...iv/cisloPeriodika
  • 3
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http://linked.open...aciTvurceVysledku
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  • 232744
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  • RIV/00216224:14560/11:00053221
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  • New Keynesian; DSGE model; Bayes factor; Bayesian estimation; structural differences; asymmetric shocks; model comparison (en)
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  • CZ - Česká republika
http://linked.open...ontrolniKodProRIV
  • [BB3952E9E31F]
http://linked.open...i/riv/nazevZdroje
  • Národohospodářský obzor – Review of Economic Perspectives
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  • 11
http://linked.open...iv/tvurceVysledku
  • Slanicay, Martin
issn
  • 1213-2446
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  • 14560
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