Acta Oeconomica Pragensia 2007, 15(1):20-26 | DOI: 10.18267/j.aop.34

Modifying IS-MP-IA Model for the Czech Economy

Roman Hušek, Radka Švarcová
Prof. Ing. Roman Hušek, CSc.; Katedra ekonometrie, Fakulta informatiky a statistiky VŠE v Praze, husek@vse.cz.
Mgr. Radka Švarcová; Komerční banka, a. s., r_svarcova@kb.cz.

Modifying IS-MP-IA model by using EU economic characteristics allows for better interpretation of the results. Specifically, from the point of view of the IS and MP curves we obtain useful information about the influence of EU economy on the Czech economy (i.e. on its GDP). We may conclude that the GARCH methodology seems to be a suitable tool for estimation of modified IS-MP-IA model and for subsequent anticipation expected development of basic macroeconomic variables, relevant for the Czech economy after its accession to EU.

Keywords: IS-MP-IA model, GARCH methodology, Maastricht criteria
JEL classification: C22, E50, F36

Published: February 1, 2007  Show citation

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Hušek, R., & Švarcová, R. (2007). Modifying IS-MP-IA Model for the Czech Economy. Acta Oeconomica Pragensia, 15(1), 20-26. doi: 10.18267/j.aop.34
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