A Comparative Analysis of the Czech Republic and Hungary. Using small Continuous-Time Macroeconometric Models
AbstractIn this paper we estimate a continuous-time macroeconometric model of the Hungarian economy and compare it with the Czech model described in Stavrev (1998). On the basis of the estimated models we provide simulations and compare the results between the two countries for i) anti-inflationary policy; ii) monetary and fiscal policies; iii) the effect of different wage indexation schemes; iv) the effect of nominal wage rigidities and v) the effect of price and nominal wage freeze.
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Bibliographic InfoPaper provided by Institute for Advanced Studies in its series Transition Economics Series with number 19.
Length: 31 pages
Date of creation: Jul 2000
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Find related papers by JEL classification:
- C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
- C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
- C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
- E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
- E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Hare, Paul & Revesz, Tamas & Zalai, Erno, 1993. "Modeling an economy in transition: trade adjustment policies for Hungary," Journal of Policy Modeling, Elsevier, vol. 15(5-6), pages 625-652.
- Emil Stavrev, 2001.
"A small continuous time macro-econometric model of the Czech Republic,"
Springer, vol. 26(4), pages 673-705.
- Stavrev, Emil, 2000. "A Small Continuous Time Macro-Econometric Model of the Czech Republic," Transition Economics Series 18, Institute for Advanced Studies.
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- Liu, Ta-Chung, 1969. "A Monthly Recursive Econometric Model of United States: A Test of Feasibility," The Review of Economics and Statistics, MIT Press, vol. 51(1), pages 1-13, February.
- Breuss, Fritz & Tesche, Jean, 1993. "Hungary in transition: a computable general equilibrium model comparison with Austria," Journal of Policy Modeling, Elsevier, vol. 15(5-6), pages 581-623.
- Mishkin, Frederic S, 1979. "Simulation Methodology in Macroeconomics: An Innovation Technique," Journal of Political Economy, University of Chicago Press, vol. 87(4), pages 816-36, August.
- Jaanika Meriküll, 2004. "Macroeconometric Modelling of the Estonian Economy," University of Tartu - Faculty of Economics and Business Administration, in: Modelling the Economies of the Baltic Sea Region, volume 17, chapter 5, pages 138-166 Faculty of Economics and Business Administration, University of Tartu (Estonia).
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