Ten Years Later: Lessons for DSGE Builders and Czech Policy Makers
We show an example of a small open economy – the Czech Republic – where the fiscal restriction was put in place between 2010 and 2013 in a negative output gap and zero lower bound on nominal interest rates. According to our results, such fiscal policy seems to have been mistaken, as the restriction...
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| Format: | Article |
| Language: | English |
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Sciendo
2019-09-01
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| Series: | Review of Economic Perspectives |
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| Online Access: | https://doi.org/10.2478/revecp-2019-0009 |