About: DSGE model with housing sector: application to the Czech economy

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rdf:type	skos:Concept http://linked.opendata.cz/ontology/domain/vavai/Vysledek
rdfs:seeAlso	http://www.econ.muni.cz/~hlousek/papers/housing.pdf
Description	This paper deals with multi-sector DSGE model that is estimated on Czech economy data. The model is taken from Iacoviello and Neri (2010). There are two production sectors: consumption/investment goods sector and housing sector. These sectors contain various types of nominal and real rigidities and also different technological trends. On the demand side, there is financial friction in the form of collateral constraint which affects borrowing capacity and consumer spending. The model is estimated using Bayesian techniques. The parameters are economically interpreted, the model moments are compared to moments from data and dynamical properties of the model are studied using impulse responses and variance and shock decompositions. Results show that monetary policy has more pronounced effect on consumption and output when houses are better collateralizable. This paper deals with multi-sector DSGE model that is estimated on Czech economy data. The model is taken from Iacoviello and Neri (2010). There are two production sectors: consumption/investment goods sector and housing sector. These sectors contain various types of nominal and real rigidities and also different technological trends. On the demand side, there is financial friction in the form of collateral constraint which affects borrowing capacity and consumer spending. The model is estimated using Bayesian techniques. The parameters are economically interpreted, the model moments are compared to moments from data and dynamical properties of the model are studied using impulse responses and variance and shock decompositions. Results show that monetary policy has more pronounced effect on consumption and output when houses are better collateralizable. (en)
Title	DSGE model with housing sector: application to the Czech economy DSGE model with housing sector: application to the Czech economy (en)
skos:prefLabel	DSGE model with housing sector: application to the Czech economy DSGE model with housing sector: application to the Czech economy (en)
skos:notation	RIV/00216224:14560/13:00069293!RIV14-MSM-14560___
http://linked.open...avai/riv/aktivita	I
http://linked.open...avai/riv/aktivity	I
http://linked.open...vai/riv/dodaniDat	2014
http://linked.open...aciTvurceVysledku	Hloušek, Miroslav
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	70654
http://linked.open...ai/riv/idVysledku	RIV/00216224:14560/13:00069293
http://linked.open...riv/jazykVysledku	eng - angličtina
http://linked.open.../riv/klicovaSlova	housing; DSGE model; collateral constraint; Bayesian estimation (en)
http://linked.open.../riv/klicoveSlovo	Bayesian estimation housing DSGE model collateral constraint
http://linked.open...ontrolniKodProRIV	[442CF06BEAB2]
http://linked.open...v/mistoKonaniAkce	Jihlava
http://linked.open...i/riv/mistoVydani	Jihlava
http://linked.open...i/riv/nazevZdroje	Proceedings of 31th International Conference Mathematical Methods in Economics
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...UplatneniVysledku	2013
http://linked.open...iv/tvurceVysledku	Hloušek, Miroslav
http://linked.open...vavai/riv/typAkce	EUR - Evropská
http://linked.open.../riv/zahajeniAkce	2013-09-11 (xsd:date)
number of pages	6 (xsd:int)
http://purl.org/ne...btex#hasPublisher	College of Polytechnics Jihlava
https://schema.org/isbn	9788087035764
http://localhost/t...ganizacniJednotka	14560

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