Publication details
Financial accelerator in estimated model: application to the Czech economy
| Authors | |
|---|---|
| Year of publication | 2011 |
| Type | Article in Proceedings |
| Conference | Mathematical Methods in Economics 2011 |
| MU Faculty or unit | |
| Citation | |
| Web | http://www.econ.muni.cz/~hlousek/papers/accelerator.pdf |
| Field | Economy |
| Keywords | financial accelerator; external finance premium; DSGE model; Bayesian estimation |
| Description | The paper presents results of estimation of New Keynesian DSGE model with financial accelerator. The model is estimated using Bayesian methods on data of Czech economy. The models with and without financial accelerator are assessed how they fit the data using statistical moments and Bayesian factor. This exercise shows surprising result that the model without financial accelerator performs on data much better than model with it. |
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