Odhady NAIRU a potenciálního produktu v ČR

Title in English Estimating NAIRU and potential output in the Czech Republic

NĚMEC Daniel SLANÝ Antonín a kol.

Year of publication 2008
Type Chapter of a book
MU Faculty or unit

Faculty of Economics and Administration

Description The subsection deals with with alternative estimates of the NAIRU and the potential output for the Czech economy. Estimated paths of unemployment gap and ouptut gap play crucial role in the analysis of the sustainable growth. Unemployment gap and output gap imply that the state of the Czech economy in present corresponds to the potential state. Output gap is relative small. Moderate (wage) inflation pressures resulting from negative unemployment gap are induced especially by lack of employees. The model estimates indicate hysteretic patterns of the unemployment. Hence negative unemployment gap is not a threat to monetary stability in the long tun.
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