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Modifying IS-MP-IA Model for the Czech Economy

Author

Listed:
  • Roman Hušek
  • Radka Švarcová

Abstract

Modifying IS-MP-IA model by using EU economic characteristics allows for better interpretation of the results. Specifically, from the point of view of the IS and MP curves we obtain useful information about the influence of EU economy on the Czech economy (i.e. on its GDP). We may conclude that the GARCH methodology seems to be a suitable tool for estimation of modified IS-MP-IA model and for subsequent anticipation expected development of basic macroeconomic variables, relevant for the Czech economy after its accession to EU.

Suggested Citation

  • Roman Hušek & Radka Švarcová, 2007. "Modifying IS-MP-IA Model for the Czech Economy," Acta Oeconomica Pragensia, University of Economics, Prague, vol. 2007(1), pages 20-26.
  • Handle: RePEc:prg:jnlaop:v:2007:y:2007:i:1:id:34:p:20-26
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    More about this item

    Keywords

    IS-MP-IA model; GARCH methodology; Maastricht criteria;

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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