About: Impact of Asymmetric Shocks and Structural Differences between the Czech Economy and Euro Area 12

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rdf:type	skos:Concept http://linked.opendata.cz/ontology/domain/vavai/Vysledek
Description	In this paper I present a new approach for analysis of asymmetric shocks and structural differences between two countries, using shock decomposition. An advantage of this method is that it jointly examines the impacts of asymmetric shocks and structural differences. I demonstrate this method using a DSGE model of two economies, presented in Kolasa (2009). Results suggest that impacts of structural shocks are more correlated than it seems from estimated correlations between shocks alone. The largest correlations are between impacts of shocks on inflations and interest rates. I also find that an evolution of variables in the Czech economy is relatively more influenced by shocks in productivity while the evolution of variables in Euro Area 12 is relatively more influenced by investment efficiency shocks. It also seems that the monetary policy of the ECB is relatively more discretionary than the monetary policy of the CNB, nevertheless it seems that the CNB follows the ECB in their discretionary policy. In this paper I present a new approach for analysis of asymmetric shocks and structural differences between two countries, using shock decomposition. An advantage of this method is that it jointly examines the impacts of asymmetric shocks and structural differences. I demonstrate this method using a DSGE model of two economies, presented in Kolasa (2009). Results suggest that impacts of structural shocks are more correlated than it seems from estimated correlations between shocks alone. The largest correlations are between impacts of shocks on inflations and interest rates. I also find that an evolution of variables in the Czech economy is relatively more influenced by shocks in productivity while the evolution of variables in Euro Area 12 is relatively more influenced by investment efficiency shocks. It also seems that the monetary policy of the ECB is relatively more discretionary than the monetary policy of the CNB, nevertheless it seems that the CNB follows the ECB in their discretionary policy. (en)
Title	Impact of Asymmetric Shocks and Structural Differences between the Czech Economy and Euro Area 12 Impact of Asymmetric Shocks and Structural Differences between the Czech Economy and Euro Area 12 (en)
skos:prefLabel	Impact of Asymmetric Shocks and Structural Differences between the Czech Economy and Euro Area 12 Impact of Asymmetric Shocks and Structural Differences between the Czech Economy and Euro Area 12 (en)
skos:notation	RIV/00216224:14560/11:00074557!RIV15-MSM-14560___
http://linked.open...avai/riv/aktivita	P S
http://linked.open...avai/riv/aktivity	P(1M0524), S
http://linked.open...vai/riv/dodaniDat	2015
http://linked.open...aciTvurceVysledku	Slanicay, Martin
http://linked.open.../riv/druhVysledku	D - Článek ve sborníku
http://linked.open...iv/duvernostUdaju	S - Úplné a pravdivé údaje nepodléhající ochraně podle zvláštních právních předpisů
http://linked.open...titaPredkladatele	Masarykova univerzita / Ekonomicko-správní fakulta
http://linked.open...dnocenehoVysledku	203626
http://linked.open...ai/riv/idVysledku	RIV/00216224:14560/11:00074557
http://linked.open...riv/jazykVysledku	eng - angličtina
http://linked.open.../riv/klicovaSlova	New Keynesian; DSGE model; Bayesian estimation; asymmetric shocks; structural differences; shock decomposition (en)
http://linked.open.../riv/klicoveSlovo	Bayesian estimation DSGE model New Keynesian asymmetric shocks shock decomposition structural differences
http://linked.open...ontrolniKodProRIV	[8F9CE45545DB]
http://linked.open...v/mistoKonaniAkce	Janska Dolina (SR)
http://linked.open...i/riv/mistoVydani	Prague
http://linked.open...i/riv/nazevZdroje	Mathematical Methods in Economics 2011
http://linked.open...in/vavai/riv/obor	AH
http://linked.open...ichTvurcuVysledku	1 (xsd:int)
http://linked.open...cetTvurcuVysledku	1 (xsd:int)
http://linked.open...vavai/riv/projekt	Research center on competitiveness of Czech economy
http://linked.open...UplatneniVysledku	2011
http://linked.open...iv/tvurceVysledku	Slanicay, Martin
http://linked.open...vavai/riv/typAkce	EUR - Evropská
http://linked.open...ain/vavai/riv/wos	000309074600105
http://linked.open.../riv/zahajeniAkce	2011-01-01 (xsd:date)
number of pages	6 (xsd:int)
http://purl.org/ne...btex#hasPublisher	University of Economics, Faculty of Informatics and Statistics
https://schema.org/isbn	9788074310584
http://localhost/t...ganizacniJednotka	14560

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