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...

on how the main transition features, such as the pace of productivity convergence, timing and degree of trade and financial openness, affect convergence patterns.

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)...

The ability to explain the development of supply, demand, and prices of commodities (especially agricultural and energy commodities) is essential for policy-makers around the globe for several reasons since they represent an essential part of the consumption baskets. Moreover, energy and...

This paper presents a dynamic multiregional CGE model to address commodity quantities and prices in the full fledged general equilibrium framework. This is important for various reasons. One of the reasons is the possible competition between food and biofuels, as biofuel promotion policies have...

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...

We examine the role of organized labour in the restructuring experience of two coal-mining regions in the 1990s. Under similar external circumstances, the Czech Republic’s Ostrava region underwent gradual restructuring from early on whereas Romania’s Jiu Valley region went through no...