{"id":"https://openalex.org/W2148674582","doi":null,"title":"An Economy in Transition and DSGE: What the Czech National Bank\u2019s New Projection Model Needs","display_name":"An Economy in Transition and DSGE: What the Czech National Bank\u2019s New Projection Model Needs","publication_year":2005,"publication_date":"2005-12-01","ids":{"openalex":"https://openalex.org/W2148674582","mag":"2148674582"},"language":"en","primary_location":{"id":"pmh:oai:RePEc:cnb:wpaper:2005/12","doi":null,"is_oa":false,"landing_page_url":"https://www.cnb.cz/export/sites/cnb/en/economic-research/.galleries/research_publications/cnb_wp/cnbwp_2005_12.pdf","pdf_url":"https://www.cnb.cz/export/sites/cnb/en/economic-research/.galleries/research_publications/cnb_wp/cnbwp_2005_12.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},"volume":null,"type":"preprint","indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://invenio.nusl.cz/record/123957/files/nusl-123957_1.pdf","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5044116928","display_name":"Jarom\u00ed\u00adr Bene\u0161","orcid":"https://orcid.org/0000-0001-6631-3227","observed_orcids":["https://orcid.org/0000-0001-6631-3227"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Jarom\u00ed\u00adr Bene\u0161","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0001-6631-3227","affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5040152261","display_name":"Tibor Hl\u00e9dik","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Tibor Hl\u00e9dik","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5074184014","display_name":"Michael Kumhof","orcid":"https://orcid.org/0000-0002-6869-5449","observed_orcids":["https://orcid.org/0000-0002-6869-5449"]},"institutions":[{"id":"https://openalex.org/I1310145890","display_name":"International Monetary Fund","ror":"https://ror.org/05m4rmw09","country_code":"US","type":"other","lineage":["https://openalex.org/I1310145890"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Michael Kumhof","raw_affiliation_strings":["International Monetary Fund"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"International Monetary Fund","institution_ids":["https://openalex.org/I1310145890"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5051982668","display_name":"David V\u00e1vra","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I1310145890","display_name":"International Monetary Fund","ror":"https://ror.org/05m4rmw09","country_code":"US","type":"other","lineage":["https://openalex.org/I1310145890"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"David V\u00e1vra","raw_affiliation_strings":["International Monetary Fund"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"International Monetary Fund","institution_ids":["https://openalex.org/I1310145890"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":25,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9951000213623047,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9951000213623047,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.0017000000225380063,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":0.0010999999940395355,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/dsge-model","display_name":"DSGE model","score":0.7860000133514404},{"id":"https://openalex.org/keywords/small-open-economy","display_name":"small open economy","score":0.7820000052452087},{"id":"https://openalex.org/keywords/economic-transition","display_name":"economic transition","score":0.6919999718666077},{"id":"https://openalex.org/keywords/czech-economy","display_name":"Czech economy","score":0.9039999842643738},{"id":"https://openalex.org/keywords/inflation-targeting","display_name":"inflation targeting","score":0.824999988079071},{"id":"https://openalex.org/keywords/business-cycles","display_name":"business cycles","score":0.621999979019165},{"id":"https://openalex.org/keywords/relative-prices","display_name":"relative prices","score":0.5899999737739563},{"id":"https://openalex.org/keywords/expenditure-shares","display_name":"expenditure shares","score":0.5460000038146973},{"id":"https://openalex.org/keywords/undercapitalization","display_name":"undercapitalization","score":0.7609999775886536},{"id":"https://openalex.org/keywords/investment-inflows","display_name":"investment inflows","score":0.8949999809265137},{"id":"https://openalex.org/keywords/new-open-economy-macroeconomics","display_name":"New Open Economy Macroeconomics","score":0.9070000052452087},{"id":"https://openalex.org/keywords/nominal-exchange-rate","display_name":"nominal exchange rate","score":0.8259999752044678},{"id":"https://openalex.org/keywords/policy-reaction-function","display_name":"policy reaction function","score":0.9380000233650208},{"id":"https://openalex.org/keywords/capital-accumulation","display_name":"capital accumulation","score":0.6880000233650208},{"id":"https://openalex.org/keywords/czech-national-bank","display_name":"Czech National Bank","score":0.7089999914169312}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.7816236019134521},{"id":"https://openalex.org/C489367","wikidata":"https://www.wikidata.org/wiki/Q1962064","display_name":"Dynamic stochastic general equilibrium","level":3,"score":0.6649349927902222},{"id":"https://openalex.org/C2777303404","wikidata":"https://www.wikidata.org/wiki/Q759757","display_name":"Convergence (economics)","level":2,"score":0.5953108072280884},{"id":"https://openalex.org/C2777883944","wikidata":"https://www.wikidata.org/wiki/Q7543547","display_name":"Small open economy","level":3,"score":0.543633759021759},{"id":"https://openalex.org/C2777001439","wikidata":"https://www.wikidata.org/wiki/Q22907597","display_name":"Currency substitution","level":4,"score":0.5431295037269592},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.5244900584220886},{"id":"https://openalex.org/C2778135664","wikidata":"https://www.wikidata.org/wiki/Q1929451","display_name":"Open economy","level":3,"score":0.5215780138969421},{"id":"https://openalex.org/C200941418","wikidata":"https://www.wikidata.org/wiki/Q273508","display_name":"Inflation (cosmology)","level":2,"score":0.5192137360572815},{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.4866507947444916},{"id":"https://openalex.org/C141121606","wikidata":"https://www.wikidata.org/wiki/Q8142","display_name":"Currency","level":2,"score":0.48097124695777893},{"id":"https://openalex.org/C185824701","wikidata":"https://www.wikidata.org/wiki/Q1193759","display_name":"Inflation targeting","level":3,"score":0.4741898477077484},{"id":"https://openalex.org/C27548731","wikidata":"https://www.wikidata.org/wiki/Q88272","display_name":"Investment (military)","level":3,"score":0.47082287073135376},{"id":"https://openalex.org/C2776988154","wikidata":"https://www.wikidata.org/wiki/Q66100","display_name":"Exchange rate","level":2,"score":0.46341413259506226},{"id":"https://openalex.org/C136264566","wikidata":"https://www.wikidata.org/wiki/Q159810","display_name":"Economy","level":1,"score":0.39168858528137207},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3558393716812134},{"id":"https://openalex.org/C165705269","wikidata":"https://www.wikidata.org/wiki/Q1542397","display_name":"Foreign exchange risk","level":3,"score":0.12741148471832275},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.0},{"id":"https://openalex.org/C33332235","wikidata":"https://www.wikidata.org/wiki/Q18362","display_name":"Theoretical physics","level":1,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"pmh:oai:RePEc:cnb:wpaper:2005/12","doi":null,"is_oa":false,"landing_page_url":"https://www.cnb.cz/export/sites/cnb/en/economic-research/.galleries/research_publications/cnb_wp/cnbwp_2005_12.pdf","pdf_url":"https://www.cnb.cz/export/sites/cnb/en/economic-research/.galleries/research_publications/cnb_wp/cnbwp_2005_12.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"pmh:oai:invenio.nusl.cz:123957","doi":null,"is_oa":true,"landing_page_url":"http://www.nusl.cz/ntk/nusl-123957","pdf_url":"https://invenio.nusl.cz/record/123957/files/nusl-123957_1.pdf","source":{"id":"https://openalex.org/S4306402266","display_name":"Digital Repository (National Repository of Grey Literature)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I79620101","host_organization_name":"University of Arkansas for Medical Sciences","host_organization_lineage":["https://openalex.org/I79620101"],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"info:eu-repo/semantics/other"},{"id":"mag:2148674582","doi":null,"is_oa":false,"landing_page_url":"https://www.cnb.cz/miranda2/export/sites/www.cnb.cz/en/research/seminars_workshops/download/CNB_DSGE.pdf","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null}],"best_oa_location":{"id":"pmh:oai:invenio.nusl.cz:123957","doi":null,"is_oa":true,"landing_page_url":"http://www.nusl.cz/ntk/nusl-123957","pdf_url":"https://invenio.nusl.cz/record/123957/files/nusl-123957_1.pdf","source":{"id":"https://openalex.org/S4306402266","display_name":"Digital Repository (National Repository of Grey Literature)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I79620101","host_organization_name":"University of Arkansas for Medical Sciences","host_organization_lineage":["https://openalex.org/I79620101"],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"info:eu-repo/semantics/other"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2148674582.pdf","grobid_xml":"https://content.openalex.org/works/W2148674582.grobid-xml"},"referenced_works_count":34,"referenced_works":["https://openalex.org/W179901606","https://openalex.org/W1492494577","https://openalex.org/W1493130858","https://openalex.org/W1505662982","https://openalex.org/W1505926538","https://openalex.org/W1519111088","https://openalex.org/W1540379115","https://openalex.org/W1564561619","https://openalex.org/W1966041856","https://openalex.org/W1970433793","https://openalex.org/W1976140283","https://openalex.org/W1989820284","https://openalex.org/W1995278743","https://openalex.org/W2011240685","https://openalex.org/W2049444775","https://openalex.org/W2100685959","https://openalex.org/W2114907228","https://openalex.org/W2118525253","https://openalex.org/W2123166856","https://openalex.org/W2126967280","https://openalex.org/W2134854408","https://openalex.org/W2135814741","https://openalex.org/W2146207816","https://openalex.org/W2149291870","https://openalex.org/W2159468774","https://openalex.org/W2613516010","https://openalex.org/W2889712533","https://openalex.org/W2891326822","https://openalex.org/W3121143884","https://openalex.org/W3121293400","https://openalex.org/W3122047635","https://openalex.org/W3122147527","https://openalex.org/W3122230798","https://openalex.org/W3124334953"],"related_works":["https://openalex.org/W2269444685","https://openalex.org/W2611564211","https://openalex.org/W1545812925","https://openalex.org/W2121526093","https://openalex.org/W2736271512","https://openalex.org/W2159799491","https://openalex.org/W2623735998","https://openalex.org/W2185930694","https://openalex.org/W2617569207","https://openalex.org/W2623535368"],"abstract_inverted_index":{"Since":[0],"the":[1,4,10,33,36,53,58,63,67,72,79,106,113,125,144,160,163,167],"introduction":[2],"of":[3,52,57,140,152,162,186],"inflation":[5],"targeting":[6],"regime":[7],"in":[8,18,35,85,94,100,122],"1998":[9],"Czech":[11,59],"National":[12],"Bank":[13],"has":[14],"made":[15],"considerable":[16],"progress":[17],"developing":[19,41],"formal":[20],"tools":[21],"for":[22,98],"supporting":[23],"its":[24,76,86],"Forecasting":[25],"and":[26,66,75,103,108,117,154,176],"Policy":[27],"Analysis":[28],"System.":[29],"This":[30],"paper":[31],"documents":[32],"advances":[34],"ongoing":[37],"research":[38],"aimed":[39],"at":[40],"a":[42,172,177],"DSGE":[43],"small":[44],"open":[45],"economy":[46,60],"model":[47,84,114,142],"designed":[48],"to":[49,91],"capture":[50,92],"some":[51],"most":[54],"important":[55],"features":[56,139],"-":[61],"both":[62],"business-cycle":[64],"regularities":[65],"recent":[68,126],"developments":[69],"associated":[70],"with":[71,105,124,159,171,182],"economy's":[73],"transition":[74],"convergence":[77],"towards":[78],"industrialized":[80],"European":[81],"countries.":[82],"The":[83,137],"current":[87],"form":[88],"is":[89],"able":[90],"trends":[93],"relative":[95],"prices,":[96],"allow":[97],"medium-convergence":[99],"expenditure":[101],"shares,":[102],"deal":[104],"undercapitalization":[107],"investment":[109],"inflow":[110],"issues.":[111],"Besides":[112],"exhibits":[115],"real":[116],"nominal":[118,164],"rigidities":[119],"that":[120],"are":[121],"line":[123],"New":[127],"Open":[128],"Economy":[129],"Macroeconomics":[130],"literature":[131],"built":[132],"fully":[133],"on":[134],"first":[135],"principles.":[136],"innovative":[138],"our":[141],"include":[143],"international":[145],"currency":[146],"pricing":[147],"scheme":[148],"permitting":[149],"flexible":[150],"calibration":[151],"import":[153],"export":[155],"price":[156],"elasticities":[157],"along":[158],"disconnect":[161],"exchange":[165],"rate,":[166],"policy":[168],"reaction":[169],"function":[170],"parameterized":[173],"forecast":[174],"horizon,":[175],"generalized":[178],"capital":[179],"accumulation":[180],"equation":[181],"imperfect":[183],"intertemporal":[184],"substitution":[185],"investment.":[187]},"counts_by_year":[{"year":2021,"cited_by_count":1},{"year":2019,"cited_by_count":1},{"year":2015,"cited_by_count":1},{"year":2014,"cited_by_count":1},{"year":2013,"cited_by_count":2},{"year":2012,"cited_by_count":2}],"updated_date":"2026-09-29T14:09:16.559479","created_date":"2016-06-24T00:00:00"}
