Publication details
Význam nominálních rigidit v České ekonomice, odhad a analýza DSGE modelu
| Title in English | Importance of nominal rigidities in the Czech economy, estimation and analysis of DSGE model |
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| Authors | |
| Year of publication | 2008 |
| Type | Chapter of a book |
| MU Faculty or unit | |
| Citation | |
| Description | The subsection deals with importance of nominal rigidities in the Czech economy. It is especially focused on relationship between prices and wages. Based on estimated macroeconomic model, it was found out that wages are far more rigid than prices. This result comes from two findings. Firstly, the length of contracts is longer for wages than prices. Secondly, sensitivity analysis showed that model with flexible wages does not fit data well. |
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