Publication details
Estimation of the Czech Macroeconomic Model by Bootstrap Filter
| Authors | |
|---|---|
| Year of publication | 2005 |
| Type | Article in Proceedings |
| Conference | Modelling and Simulation, Proceeding of The 16th IASTED International Conference MS2005 |
| MU Faculty or unit | |
| Citation | |
| Field | Economy |
| Keywords | Bootstrap filter; Bayesian state estimation; Smoothing; Monte Carlo methods; macroeconomic model; monetary policy |
| Description | The monetary policy problem is explained in a simple theoretical framework of economy. The article presents a theoretical macroeconomic model and it shows the theoretical procedure of finding the optimal monetary policy under discretion. The model is quantitatively analyzed on the data of the Czech economy. Model parameters are estimated simultaneously by the original "extended bootstrap filter smoother". |
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