Showing 1 - 10 of 12
This paper focuses on the forecasting process at the Czech National Bank with an emphasis on incorporating expert judgments into forecasts and addressing data uncertainty. At the beginning, the core model and the forecasting process are described and it is presented how data and the underlying...
Persistent link: https://www.econbiz.de/10010833274
This article examines the extent to which housing prices affect the balance sheets and borrowing and consumption decisions of households in the Czech Republic and indirectly also their ability to repay their debts. Empirical results were obtained by applying the Propensity Score Matching (PSM)...
Persistent link: https://www.econbiz.de/10010668403
In this paper we develop a two-country dynamic general equilibrium model by means of which we seek to explain the long-run paths of a converging emerging market economy. The model’s novel feature is the inclusion of quality investment to the standard framework of applied general...
Persistent link: https://www.econbiz.de/10005405568
Persistent link: https://www.econbiz.de/10005405588
Persistent link: https://www.econbiz.de/10010734464
This paper discusses comovement between inflation and output in the euro area. The strength of the comovement may not be apparent at first sight, but is clear at business cycle frequencies. We propose a new estimation approach to trimmed mean inflation, determining jointly the upper and lower...
Persistent link: https://www.econbiz.de/10010702335
This article sets out to contribute to the understanding of the dynamics of retail credit premiums (i.e. the difference between reference interest rates and rates on retail loans with comparable maturities) in the Czech economy. The text documents the history of the credit premium. A model that...
Persistent link: https://www.econbiz.de/10009146878
Persistent link: https://www.econbiz.de/10008835040
We incorporate a housing market with liquidity-constrained households into the Czech National Bank's core forecasting model (g3) to analyze the relationship between housing market and aggregate fluctuations in a small open economy framework. We discuss the historical shock decomposition of house...
Persistent link: https://www.econbiz.de/10011156779
Persistent link: https://www.econbiz.de/10011106607