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The paper presents the optimal control theory and the maximum principle technique that is suitable for solving dynamic optimalization problems in continuous time. Modern mainstream macroeconomics stresses microeconomics principles of solved problems. However, the application of the standard...
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The paper emphasizes how changes in credit conditions in the Czech Republic are likely to influence aggregate consumption. Aggregate consumption plays an important role in macroeconomic fluctuations and in the transmission mechanism. Czech household debt has increased in the past five years. The...
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Agregátní úvěry v selhání jsou úvěry bankovního sektoru se zpožděnými splátkami. Tento článek zkoumá, jak agregátní úvěry v selhání, jakožto indikátor agregátního kreditního rizika, reagují na makroekonomický vývoj v České republice v letech 1993-2014. Naše...
Persistent link: https://www.econbiz.de/10015245018
and PPI. A supply shock shows itself in instant PPI adjustment, a demand shock in CPI. Thus, in the CPI inflation equation … we should add exogenous demand shock to the equation. On the other hand, it would be suitable to add exogenous supply …
Persistent link: https://www.econbiz.de/10005036648
predictions and data, such as consumption/output correlation puzzle, investment correlation puzzle, and price anomaly. The paper …
Persistent link: https://www.econbiz.de/10008549877