Advanced Search
MyIDEAS: Login to save this article or follow this journal

Potential Product: Quantitative Analysis for the Czech Republic

Contents:

Author Info

  • Osvald Vašíček
  • Martin Fukač

Abstract

In this paper we try to measure Non-Accelerating Inflation Product (NAIP) as a special form of the potential product and consequently the production gap, within a state-space framework. Our starting point is the Kitchian (/999) unobserved-component model (applied to the Canadian economy). We modify assumptions to reflect specific aspects of the small transitive Czech economy. We focus, in particular, a) on the specification of the output component, b) on the issue of whether to use net or consumer price inflation in the models, and c) on the integration of appropriate supply shocks in the expectation augmented Phillips curve. As the consequence we feel that the production gap state-space model can be quite useful information source for the formulation of monetary policy.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://ces.utia.cas.cz/bulletin/index.php/bulletin/article/view/89
Download Restriction: no

Bibliographic Info

Article provided by The Czech Econometric Society in its journal Bulletin of the Czech Econometric Society.

Volume (Year): 7 (2000)
Issue (Month): 12 ()
Pages:

as in new window
Handle: RePEc:czx:journl:v:7:y:2000:i:12:id:89

Contact details of provider:
Email:
Web page: http://ces.utia.cas.cz
More information through EDIRC

Related research

Keywords: Non-Accelerating Inflation Product; expectation augmented Phillips curve; extended Kalman filter with backward smoothing; production gap; money illusion; misperception; exogenous shocks;

Find related papers by JEL classification:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:czx:journl:v:7:y:2000:i:12:id:89. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jozef Barunik).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.