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Odhad potenciálního produktu v ČR a jeho vztah k hospodářskému cyklu / Estimating of potential output in the Czech Republic and its relationship to the business cycle

Potential output is used as the indicator of the business cycle. The aim of this study is to compare the results of different methods used for estimating potential output and verify the hypothesis that potential output or rather the output gap can serve as a reliable indicator to determine the phase of the business cycle in the Czech Republic in the years 1996-2012. 6 different methods - linear trend, Hodrick-Prescott filter, Baxter-King filter, Butterworth filter, Kalman filter and the production function have been used to estimate potential output. The output gap was determined based on the estimated potential output. The comparison of the results of all methods has confirmed the same development trend of potential output. All the methods for estimating potential output, except Butterworth filter, have showed that their results are good indicators of the business cycle in the Czech Republic.

Identiferoai:union.ndltd.org:nusl.cz/oai:invenio.nusl.cz:163391
Date January 2013
CreatorsSvatošová, Ludmila
ContributorsKloudová, Dana, Chytilová, Helena
PublisherVysoká škola ekonomická v Praze
Source SetsCzech ETDs
LanguageCzech
Detected LanguageEnglish
Typeinfo:eu-repo/semantics/masterThesis
Rightsinfo:eu-repo/semantics/restrictedAccess

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