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Comparing Central Europe and the Baltic macro-economies: A Bayesian approach

Author

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  • Beqiraj, Elton
  • Di Bartolomeo, Giovanni
  • Di Pietro, Marco
  • Serpieri, Carolina

Abstract

Applying the Bayesian approach, a small open economy DSGE model was estimated using a sample of quarterly data for a macro-region formed by six Central Europe and Baltic economies: Czech Republic, Estonia, Hungary, Lithuania, Poland, and Slovakia. Estimates have been employed to investigate the effects of a financial crisis, exploring the role played by country differences in the relative performances. We also use our Bayesian estimations to compute two measures of resilience in the considered region.

Suggested Citation

  • Beqiraj, Elton & Di Bartolomeo, Giovanni & Di Pietro, Marco & Serpieri, Carolina, 2018. "Comparing Central Europe and the Baltic macro-economies: A Bayesian approach," EconStor Preprints 175242, ZBW - Leibniz Information Centre for Economics.
    • Handle: RePEc:zbw:esprep:175242
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    More about this item

    Keywords

    resilience; Bayesian estimations; financial crisis; macroeconomic performance; emerging markets;
    All these keywords.

    JEL classification:

    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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