D
2013
Real-time versus revised Czech data: a DSGE analysis
ČAPEK, Jan
Basic information
Original name
Real-time versus revised Czech data: a DSGE analysis
Authors
ČAPEK, Jan (203 Czech Republic, guarantor, belonging to the institution)
Edition
1. vyd. Jihlava, Proceedings of 31th International Conference Mathematical Methods in Economics, p. 107-112, 6 pp. 2013
Publisher
College of Polytechnics Jihlava
Other information
Type of outcome
Proceedings paper
Country of publisher
Czech Republic
Confidentiality degree
is not subject to a state or trade secret
Publication form
storage medium (CD, DVD, flash disk)
RIV identification code
RIV/00216224:14560/13:00069553
Organization
Ekonomicko-správní fakulta – Repository – Repository
Keywords in English
real-time data; data revision; recursive estimate; DSGE model
V originále
The paper investigates the effects of using real-time data instead of revised final data within Dynamic Stochastic General Equilibrium (DSGE) framework. Theoretically, using most recent, updated historical data for ex-post analyses for a historical time-sample may be misleading, because revised data were not available at that time. The contribution uses a small-scale monetary macroeconomic DSGE model to analyze the importance of real-time data compared to most-recent revised data with a focus on the differences in decision-making of the monetary authority. The analysis proceeds from Bayesian estimation of model parameters in a model with real-time data and in a model with the most recent revised data.
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