About: Zero lower bound on interest rate: application of DSGE model on Czech economy

Facets (new session)
Description
Metadata
Settings
- owl:sameAs
- Inference Rule:

About: Zero lower bound on interest rate: application of DSGE model on Czech economy Goto Sponge NotDistinct Permalink

An Entity of Type : http://linked.opendata.cz/ontology/domain/vavai/Vysledek, within Data Space : linked.opendata.cz associated with source document(s)

Attributes	Values
rdf:type	skos:Concept http://linked.opendata.cz/ontology/domain/vavai/Vysledek
rdfs:seeAlso	http://mme2014.upol.cz/downloads/MME_2014_Proceedings.pdf
Description	This paper deals with impacts of zero lower bound of interest rate on behaviour of macroeconomic variables in the Czech economy. The analysis uses DSGE model of small open economy, concretely model from Justiniano and Preston (2004), and toolkit from Guerrieri and Iacoviello (2014) that is able to solve occasionally binding constraint. The model is estimated on data of the Czech economy covering period 1996:Q2 -- 2013:Q4. The behaviour of the model is studied using impulse responses and simulations in reaction to model specific shocks. Situation when central bank is incapable to decrease interest rate because of zero lower bound has implications for behaviour of output and consumption but not inflation. Shocks that cause binding of interest rate for most periods are domestic cost-push shock and foreign preference shock. These two shocks also have non-negligible welfare implications regarding behaviour of consumption. This paper deals with impacts of zero lower bound of interest rate on behaviour of macroeconomic variables in the Czech economy. The analysis uses DSGE model of small open economy, concretely model from Justiniano and Preston (2004), and toolkit from Guerrieri and Iacoviello (2014) that is able to solve occasionally binding constraint. The model is estimated on data of the Czech economy covering period 1996:Q2 -- 2013:Q4. The behaviour of the model is studied using impulse responses and simulations in reaction to model specific shocks. Situation when central bank is incapable to decrease interest rate because of zero lower bound has implications for behaviour of output and consumption but not inflation. Shocks that cause binding of interest rate for most periods are domestic cost-push shock and foreign preference shock. These two shocks also have non-negligible welfare implications regarding behaviour of consumption. (en)
Title	Zero lower bound on interest rate: application of DSGE model on Czech economy Zero lower bound on interest rate: application of DSGE model on Czech economy (en)
skos:prefLabel	Zero lower bound on interest rate: application of DSGE model on Czech economy Zero lower bound on interest rate: application of DSGE model on Czech economy (en)
skos:notation	RIV/00216224:14560/14:00076454!RIV15-MSM-14560___
http://linked.open...avai/riv/aktivita	S
http://linked.open...avai/riv/aktivity	S
http://linked.open...vai/riv/dodaniDat	2015
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	57312
http://linked.open...ai/riv/idVysledku	RIV/00216224:14560/14:00076454
http://linked.open...riv/jazykVysledku	eng - angličtina
http://linked.open.../riv/klicovaSlova	zero lower bound on interest rate; DSGE model; occasionally binding constraint (en)
http://linked.open.../riv/klicoveSlovo	occasionally binding constraint zero lower bound on interest rate DSGE model
http://linked.open...ontrolniKodProRIV	[F5DD8A34BCF8]
http://linked.open...v/mistoKonaniAkce	Olomouc
http://linked.open...i/riv/mistoVydani	Olomouc
http://linked.open...i/riv/nazevZdroje	Proceedings of 32nd 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	2014
http://linked.open...iv/tvurceVysledku	Hloušek, Miroslav
http://linked.open...vavai/riv/typAkce	EUR - Evropská
http://linked.open.../riv/zahajeniAkce	2014-01-01 (xsd:date)
number of pages	6 (xsd:int)
http://purl.org/ne...btex#hasPublisher	Univerzita Palackého v Olomouci
https://schema.org/isbn	9788024442099
http://localhost/t...ganizacniJednotka	14560

Faceted Search & Find service v1.16.118 as of Jun 21 2024

Alternative Linked Data Documents: ODE Content Formats:

RDF

ODATA

Microdata

About

OpenLink Virtuoso version 07.20.3240 as of Jun 21 2024, on Linux (x86_64-pc-linux-gnu), Single-Server Edition (126 GB total memory, 58 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2024 OpenLink Software