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Ekonometrická Analýza Inflace v České Republice

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  • Tomáš Formánek

Abstract

This analysis evaluates economic relations between inflation and other macroeconomic factors. The target was to verify the standard relations under our conditions. The analysis was based on quarterly data for the period between 1991 and 1996. The econometric analysis proved that in Czech republic exists inverse Phillips-type relation between percentage changes of price level and unemployment. Also the inverse relation was proved between the increase of real GDP and increase of price level, which sequences from Fisher's transaction equation. The relation between price level and monetary aggregate M2 in our conditions is weak, gradual increase of M2 has no significant influence on the inflation. The relation between inflation and government expenditures or fix capital formation has not yet been confirmed in our conditions. The essential macroeconomic relations have already taken effect. Their econometric analysis however is facing the shortage of usable observations.

Suggested Citation

  • Tomáš Formánek, 1997. "Ekonometrická Analýza Inflace v České Republice," Bulletin of the Czech Econometric Society, The Czech Econometric Society, vol. 4(6).
  • Handle: RePEc:czx:journl:v:4:y:1997:i:6:id:47
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    File URL: http://ces.utia.cas.cz/bulletin/index.php/bulletin/article/view/47
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