Title:

Dynamics of a twocountry Kaldorian model of business cycles with fixed exchange rates: the case of Slovakia and the Czech Republic

Group publication title:

Śląski Przegląd Statystyczny = Silesian Statistical Review

Title in english:

Dynamika dwupaństwowego kaldoriańskiego modelu cykli biznesowych ze stałymi kursami walut: przykład Słowacji i Republiki Czeskiej

Creator:

Cisková, Petra ; Zimková, Emília ; Zimka, Rudolf

Description:

Śląski Przegląd Statystyczny = Silesian Statistical Review, 2020, Nr 18 (24), s. 99-120

Abstrakt:

In this paper, Asada´s five-dimensional nonlinear model describing the dynamic interaction of two regions connected through interregional trade and interregional capital movement with fixed exchange rates is applied to the conditions of Slovakia and the Czech Republic. The functions of consumptions, investments, interest rates, taxes, and net exports involved in the model are constructed based on quarterly data of these two countries from the period 2010-2017. The equilibrium was found and the conditions on the parameters were established, guaranteeing that the Jacobian matrix of the model has a pair of purely imaginary eigenvalues with the remaining three with negative real parts. The bifurcation equation of the model giving the information on the qualitative properties of its solutions around the equilibrium, including the existence of business cycles and their stability/instability, was obtained. Numerical simulations are presented showing that they are fully in compliance with the achieved theoretical results

Publisher:

Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu

Place of publication:

Wrocław

Date:

2020

Resource Type:

artykuł

Resource Identifier:

doi:10.15611/sps.2020.18.05

Language:

eng

Relation:

Śląski Przegląd Statystyczny = Silesian Statistical Review, 2020, Nr 18 (24)

Rights:

Pewne prawa zastrzeżone na rzecz Autorów i Wydawcy

Access Rights:

Dla wszystkich zgodnie z licencją

License:

CC BY-SA 4.0

Location:

Uniwersytet Ekonomiczny we Wrocławiu