Benes, Jaromir; Hledik, Tibor; Kumhof, Michael; Vavra, David - Česká Národní Banka - 2005
Since the introduction of the inflation targeting regime in 1998 the Czech National Bank has made considerable progress in developing formal tools for supporting its Forecasting and Policy Analysis System. This paper documents the advances in the ongoing research aimed at developing a DSGE small...