Vliv změny produktivity práce na českou ekonomiku: modelový přístup
| Title in English | Impact of a Labor Productivity Change on the Czech Economy: a Model Approach |
|---|---|
| Authors | |
| Year of publication | 2006 |
| Type | Article in Proceedings |
| Conference | Česká ekonomika v procesu globalizace - kvantitativní metody a modely v ekonomii |
| MU Faculty or unit | |
| Citation | |
| Field | Economy |
| Keywords | DSGE model; Czech economy; rational expectations; Bayesian estimation of parameters; labor productivity |
| Description | This paper introduces a small open economy model of the Czech economy. It is used for an analysis of some impacts of the short-run changes in the labor productivity. The DSGE model is based on microeconomics foundations. Representative households and firms optimize their behavior. The foreign sector is exogenous. A monetary authority is represented by a central bank implementing its monetary policy in an inflation targeting regime. The Bayesian technique is used for an estimation of parameters. The estimated parameters describe basic characteristics of the Czech economy. A change in the labor productivity influences the economy for a long run and in a significant way. |
| Related projects: |