Publikace na Fakulta sociálních věd, Matematicko-fyzikální fakulta, Centrum pro ekonomický výzkum a doktorské studium |
2015
Abstrakt
We build a DSGE model to investigate the transmission of fiscal policy to the real economy in the Czech Republic. Departing from the elements of the Czech National Bank's current g3 forecasting model (Andrle, Hlédik, Kameník, and Vlček, 2009), we introduce a comprehensive fiscal sector incorporating a number of modeling features that are often neglected in the mainstream DSGE literature, e.g. allowing government consumption and government capital to be productive.