| dc.contributor.author | Frait, Jan | |
| dc.contributor.author | Kulhánek, Lumír | |
| dc.date.accessioned | 2007-08-22T09:44:49Z | |
| dc.date.available | 2007-08-22T09:44:49Z | |
| dc.date.issued | 1998 | |
| dc.identifier.citation | Finance a úvěr. 1998, roč. 48, č. 7, s. 431-444. | en |
| dc.identifier.issn | 0015-1920 | |
| dc.identifier.uri | http://hdl.handle.net/10084/62163 | |
| dc.language.iso | cs | en |
| dc.publisher | Univerzita Karlova. Fakulta sociálních věd | en |
| dc.relation.ispartofseries | Finance a úvěr | en |
| dc.relation.uri | http://www.financeauver.org/pdf_cze/1998fau/199811jf.pdf | en |
| dc.title | Analýza dynamiky inflace v ČR pomocí P*-modelu | en |
| dc.title.alternative | P-star-model-based analysis of inflation dynamics in the Czech Republic | en |
| dc.type | article | en |
| dc.identifier.location | Ve fondu ÚK | en |
| dc.description.abstract-en | This paper presents a version of the P-Star model of inflation dynamics for a small open economy and applies it to the Czech economy for the period of 1991-1998. The first part describes the birth of the model and its development, the second presents a basis version of the model, and the third gives an extended version for a small economy with a fixed exchange rate. The final section estimates the extended version using the data for the Czech Republic.
The results of the estimates suggest that Czech inflation evolves in line with a P-star-model logic. Inflation in the current period changes to close the price gap, i.e. the gap between actual and equilibrium price level. The foreign component of the price gap seems more important than the domestic component, which supports the hypothesis that the equilibrium price level in the Czech Republic is to a large extent determined by the German monetary policy via the explicit or implicit peg of the Czech koruna to the DEM. The overall results show that inflation in the Czech Republic is primarily a monetary phenomenon. | en |
| dc.identifier.wos | 000084026900002 | |