This HTML5 document contains 42 embedded RDF statements represented using HTML+Microdata notation.

The embedded RDF content will be recognized by any processor of HTML5 Microdata.

Namespace Prefixes

PrefixIRI
dctermshttp://purl.org/dc/terms/
n8http://localhost/temp/predkladatel/
n10http://linked.opendata.cz/resource/domain/vavai/riv/tvurce/
n15http://linked.opendata.cz/resource/domain/vavai/subjekt/
n6http://linked.opendata.cz/ontology/domain/vavai/
n5http://linked.opendata.cz/resource/domain/vavai/vysledek/RIV%2F62156489%3A43110%2F12%3A00184978%21RIV12-MSM-43110___/
shttp://schema.org/
skoshttp://www.w3.org/2004/02/skos/core#
rdfshttp://www.w3.org/2000/01/rdf-schema#
n4http://linked.opendata.cz/ontology/domain/vavai/riv/
n2http://linked.opendata.cz/resource/domain/vavai/vysledek/
rdfhttp://www.w3.org/1999/02/22-rdf-syntax-ns#
n7http://linked.opendata.cz/ontology/domain/vavai/riv/klicoveSlovo/
n14http://linked.opendata.cz/ontology/domain/vavai/riv/duvernostUdaju/
xsdhhttp://www.w3.org/2001/XMLSchema#
n18http://linked.opendata.cz/ontology/domain/vavai/riv/jazykVysledku/
n17http://linked.opendata.cz/ontology/domain/vavai/riv/aktivita/
n19http://linked.opendata.cz/ontology/domain/vavai/riv/druhVysledku/
n11http://linked.opendata.cz/ontology/domain/vavai/riv/obor/
n13http://reference.data.gov.uk/id/gregorian-year/

Statements

Subject Item
n2:RIV%2F62156489%3A43110%2F12%3A00184978%21RIV12-MSM-43110___
rdf:type
n6:Vysledek skos:Concept
rdfs:seeAlso
http://www.mendelu.cz/cz/veda_vyzkum/acta/ac212
dcterms:description
Analysis of economic cycle is of enormous importance for monitoring economic output and explaining price and wage inflation. It provides essential information for shaping economic and monetary policy of central authorities. Several methods are currently available to estimate potential output and output gap. In the current study, methods of Hodrick-Prescott filter and Cobb-Douglas production function were implemented to estimate potential output, which cannot be empirically observed. For the purpose of comparing the above methods, quarterly and annual time series of real GDP, labour and gross fixed capital starting in 1996 were used for estimation of the output gap. Relative contributions of labour, fixed capital formation and technology improvement factor towards growth of potential output were quantified for the studied series. The Cobb-Douglas production function appears to be superior to Hodrick-Prescott filter in providing quality estimates of potential output. Hodrick-Prescott filter allows estimation of potential output; nevertheless, it fails to identify components of cyclic behaviour of economic activity. Cobb-Douglas production function describes level of potential product assuming average utilization of production factors. A detailed analysis of components of economic growth in the observed period is provided. Analysis of economic cycle is of enormous importance for monitoring economic output and explaining price and wage inflation. It provides essential information for shaping economic and monetary policy of central authorities. Several methods are currently available to estimate potential output and output gap. In the current study, methods of Hodrick-Prescott filter and Cobb-Douglas production function were implemented to estimate potential output, which cannot be empirically observed. For the purpose of comparing the above methods, quarterly and annual time series of real GDP, labour and gross fixed capital starting in 1996 were used for estimation of the output gap. Relative contributions of labour, fixed capital formation and technology improvement factor towards growth of potential output were quantified for the studied series. The Cobb-Douglas production function appears to be superior to Hodrick-Prescott filter in providing quality estimates of potential output. Hodrick-Prescott filter allows estimation of potential output; nevertheless, it fails to identify components of cyclic behaviour of economic activity. Cobb-Douglas production function describes level of potential product assuming average utilization of production factors. A detailed analysis of components of economic growth in the observed period is provided.
dcterms:title
A study of potential output and output gap in the Czech Republic A study of potential output and output gap in the Czech Republic
skos:prefLabel
A study of potential output and output gap in the Czech Republic A study of potential output and output gap in the Czech Republic
skos:notation
RIV/62156489:43110/12:00184978!RIV12-MSM-43110___
n6:predkladatel
n15:orjk%3A43110
n4:aktivita
n17:S
n4:aktivity
S
n4:cisloPeriodika
2
n4:dodaniDat
n13:2012
n4:domaciTvurceVysledku
n10:3445550 n10:3060160
n4:druhVysledku
n19:J
n4:duvernostUdaju
n14:S
n4:entitaPredkladatele
n5:predkladatel
n4:idSjednocenehoVysledku
120653
n4:idVysledku
RIV/62156489:43110/12:00184978
n4:jazykVysledku
n18:eng
n4:klicovaSlova
potential output; output gap; economic cycle; Hodrick-Prescott filter; Cobb-Douglas production function
n4:klicoveSlovo
n7:Cobb-Douglas%20production%20function n7:output%20gap n7:potential%20output n7:economic%20cycle n7:Hodrick-Prescott%20filter
n4:kodStatuVydavatele
CZ - Česká republika
n4:kontrolniKodProRIV
[ECABFB4359C2]
n4:nazevZdroje
Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis
n4:obor
n11:BB
n4:pocetDomacichTvurcuVysledku
2
n4:pocetTvurcuVysledku
2
n4:rokUplatneniVysledku
n13:2012
n4:svazekPeriodika
LX
n4:tvurceVysledku
Střelec, Luboš Adamec, Václav
s:issn
1211-8516
s:numberOfPages
8
n8:organizacniJednotka
43110