Rysanek, Jakub; Tonner, Jaromir; Vasicek, Osvald - Česká Národní Banka - 2011
As the global economy seems to be recovering from the 2009 financial crisis, we find it desirable to look back and analyze the Czech economy ex post. We work with a Swedish New Keynesian model of a small open economy which embeds financial frictions in light of the financial accelerator...