"This chapter deals with alternative estimates of NAIRU and of the potential output for the Czech economy. Simple hysteretic model of the Phillips curve and multi-equation dynamic macroeconomic model with rational expectations are used. Parameters of these models and paths of the NAIRU and potential output are estimated using techniques of Bayesian inference and filtration. NAIRU and potential output are treated as unobservable states of economic system. The model estimates indicate hysteretic patterns of the unemployment. Hence negative unemployment gap is not a threat to monetary stability. The interaction between NAIRU and potential output is not as strong as one may expect. This property and the empirical insignificance of the Oku's law seem to be crucial outcome of the hysteretic economic systems. Estimated output gap is minimal. Actual high growth rates are thus sustainable in the long run."@en . . . . . "Kvantitativn\u00ED anal\u00FDza mezery nezam\u011Bstnanosti a v\u00FDstupu v \u010Cesk\u00E9 republice" . . "N\u011Bmec, Daniel" . "P(1M0524)" . "[9CFC609B50C8]" . "14560" . "978-80-210-4786-0" . "Kapitola se zab\u00FDv\u00E1 alternativn\u00EDmi odhady NAIRU a potenci\u00E1ln\u00EDho produktu \u010Desk\u00E9 ekonomiky. Vyu\u017Eit je jednoduch\u00FD hysterezn\u00ED model Phillipsovy k\u0159ivky a v\u00EDcerovnicov\u00FD dynamick\u00FD makroekonomick\u00FD model s racion\u00E1ln\u00EDm o\u010Dek\u00E1v\u00E1n\u00EDm. Parametry tohoto modelu a trajektorie NAIRU a potenci\u00E1ln\u00EDho produktu jsou odhadnuty vyu\u017Eit\u00EDm technik bayesovsk\u00E9 anal\u00FDzy a filtrace. NAIRU apotenci\u00E1ln\u00ED produkt jsou ch\u00E1p\u00E1ny jako nepozorovateln\u00E9 stavy ekonomick\u00E9ho syst\u00E9mu. Odhady modelu nazna\u010Duj\u00ED hysterezn\u00ED charakter nezam\u011Bstnanosti. Aktu\u00E1ln\u00ED negativn\u00ED mezera nezam\u011Bstnanosti tak neznamen\u00E1 dlouhodob\u00E9 ohro\u017Een\u00ED monet\u00E1rn\u00ED stability. Vztah mezi NAIRU a potenci\u00E1ln\u00EDm produktem nen\u00ED natolik siln\u00FD, jak by bylo mo\u017Eno o\u010Dek\u00E1vat. Tato vlastnost doprov\u00E1zen\u00E1 empirickou nev\u00FDznamnost\u00ED Okunova z\u00E1kona se zd\u00E1 b\u00FDt kl\u00ED\u010Dov\u00FDm projevem hysterezn\u00EDch eknomick\u00FDch syst\u00E9m\u016F. Odhadnut\u00E1 mezera v\u00FDstupu je minim\u00E1ln\u00ED, co\u017E implikuje dlouhodobou udr\u017Eitelnost aktu\u00E1ln\u00EDch vysok\u00FDch m\u011Br r\u016Fstu." . "RIV/00216224:14560/08:00027030" . . . . "RIV/00216224:14560/08:00027030!RIV10-MSM-14560___" . "Determinanty hospod\u00E1\u0159sk\u00E9ho r\u016Fstu v zem\u00EDch v\u00FDchodn\u00ED Evropy" . "Kapitola se zab\u00FDv\u00E1 alternativn\u00EDmi odhady NAIRU a potenci\u00E1ln\u00EDho produktu \u010Desk\u00E9 ekonomiky. Vyu\u017Eit je jednoduch\u00FD hysterezn\u00ED model Phillipsovy k\u0159ivky a v\u00EDcerovnicov\u00FD dynamick\u00FD makroekonomick\u00FD model s racion\u00E1ln\u00EDm o\u010Dek\u00E1v\u00E1n\u00EDm. Parametry tohoto modelu a trajektorie NAIRU a potenci\u00E1ln\u00EDho produktu jsou odhadnuty vyu\u017Eit\u00EDm technik bayesovsk\u00E9 anal\u00FDzy a filtrace. NAIRU apotenci\u00E1ln\u00ED produkt jsou ch\u00E1p\u00E1ny jako nepozorovateln\u00E9 stavy ekonomick\u00E9ho syst\u00E9mu. Odhady modelu nazna\u010Duj\u00ED hysterezn\u00ED charakter nezam\u011Bstnanosti. Aktu\u00E1ln\u00ED negativn\u00ED mezera nezam\u011Bstnanosti tak neznamen\u00E1 dlouhodob\u00E9 ohro\u017Een\u00ED monet\u00E1rn\u00ED stability. Vztah mezi NAIRU a potenci\u00E1ln\u00EDm produktem nen\u00ED natolik siln\u00FD, jak by bylo mo\u017Eno o\u010Dek\u00E1vat. Tato vlastnost doprov\u00E1zen\u00E1 empirickou nev\u00FDznamnost\u00ED Okunova z\u00E1kona se zd\u00E1 b\u00FDt kl\u00ED\u010Dov\u00FDm projevem hysterezn\u00EDch eknomick\u00FDch syst\u00E9m\u016F. Odhadnut\u00E1 mezera v\u00FDstupu je minim\u00E1ln\u00ED, co\u017E implikuje dlouhodobou udr\u017Eitelnost aktu\u00E1ln\u00EDch vysok\u00FDch m\u011Br r\u016Fstu."@cs . . . "1"^^ . . . "376013" . . . "Kvantitativn\u00ED anal\u00FDza mezery nezam\u011Bstnanosti a v\u00FDstupu v \u010Cesk\u00E9 republice" . . . "Kvantitativn\u00ED anal\u00FDza mezery nezam\u011Bstnanosti a v\u00FDstupu v \u010Cesk\u00E9 republice"@cs . "1"^^ . "CVKS" . "Unemployment gap and output gap: A quantitative analysis"@en . . "Masarykova univerzita" . "Unemployment gap and output gap: A quantitative analysis"@en . "Kvantitativn\u00ED anal\u00FDza mezery nezam\u011Bstnanosti a v\u00FDstupu v \u010Cesk\u00E9 republice"@cs . "19"^^ . . "unemployment gap; output gap; bayesian inference; hysteresis; Gibbs sampler; Metropolis-Hastings algorithm; Kalman filter"@en . . "Brno" . "458"^^ .