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  • The goal of this paper is to evaluate heterogeneity between the Czech Republic and the Euro area. For this purpose, we introduce a two-country dynamic stochastic general equilibrium model that allows different sources of heterogeneity across countries. We focus on differences in structural parameters and asymmetry of shocks hitting the two economies. Using Bayesian techniques, we estimate various specifications of log-linear models (unrestricted and nested) and then we test different sources of heterogeneity. Our results indicate that the main sources of heterogeneity are price and wage rigidities and the asymmetry of shocks. On the other hand, we have found strong evidence in favor of homogeneity in parameters describing utility function of households.
  • The goal of this paper is to evaluate heterogeneity between the Czech Republic and the Euro area. For this purpose, we introduce a two-country dynamic stochastic general equilibrium model that allows different sources of heterogeneity across countries. We focus on differences in structural parameters and asymmetry of shocks hitting the two economies. Using Bayesian techniques, we estimate various specifications of log-linear models (unrestricted and nested) and then we test different sources of heterogeneity. Our results indicate that the main sources of heterogeneity are price and wage rigidities and the asymmetry of shocks. On the other hand, we have found strong evidence in favor of homogeneity in parameters describing utility function of households. (en)
Title
  • Investigating structural differences of the Czech economy: Does asymmetry of shocks matter?
  • Investigating structural differences of the Czech economy: Does asymmetry of shocks matter? (en)
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  • Investigating structural differences of the Czech economy: Does asymmetry of shocks matter?
  • Investigating structural differences of the Czech economy: Does asymmetry of shocks matter? (en)
skos:notation
  • RIV/00216224:14560/10:00044838!RIV11-MSM-14560___
http://linked.open...avai/riv/aktivita
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http://linked.open...vai/riv/dodaniDat
http://linked.open...aciTvurceVysledku
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http://linked.open...iv/duvernostUdaju
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  • 264798
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  • RIV/00216224:14560/10:00044838
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http://linked.open.../riv/klicovaSlova
  • DSGE model dvou ekonomik; strukturální odlišnosti; asymetrické šoky (en)
http://linked.open.../riv/klicoveSlovo
http://linked.open...ontrolniKodProRIV
  • [0D78B9EA1142]
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...UplatneniVysledku
http://linked.open...iv/tvurceVysledku
  • Němec, Daniel
  • Herber, Pavel
http://linked.open...vavai/riv/typAkce
http://linked.open.../riv/zahajeniAkce
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  • University of South Bohemia, Faculty of Economics
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  • 978-80-7394-218-2
http://localhost/t...ganizacniJednotka
  • 14560
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