Strukturální rozdíly a asymetrické šoky mezi českou ekonomikou a euro zónou 12
| Title in English | Structural Differences and Asymmetric Shocks between the Czech Economy and the Euro Area 12 |
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| Authors | |
| Year of publication | 2011 |
| Type | Chapter of a book |
| MU Faculty or unit | |
| Citation | |
| Description | The goal of this paper is to determine whether there exist asymmetric shocks and structural differences between the Czech economy and the Euro Area 12. A New Keynesian DSGE model of a small open economy is used for this purpose. Asymmetric shocks and structural differences are examined in two ways. Firstly, I examine asymmetry of shocks and sources of structural differences, using model comparison based on the Bayes factor. Secondly, I investigate impact of structural differences and differences in persistence and volatility of structural shocks on the behavior of both economies, using analysis of impulse-response functions. |
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