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National Repository of Grey Literature 2 records found  Search took 0.00 seconds. 
Rational Inattention in DSGE Model
 Vostřák, David ; Malovaná, Simona (advisor) ; Kopečná, Vědunka (referee)
A great amount of available information over the internet makes it impossible for anyone to process it all. In this thesis, we use the rational inattention theory to see how the perceived signals about the exogenous variables would change under different levels of information capacity. Those signals are then applied in the New Keynesian model and corresponding impulse responses are compared with the case of unlimited attention. We found that for some autoregressive processes the differences from the perfect attention case are not very profound while for others the results vary considerably.
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Current account adjustment in the Baltic countries
 Vostřák, David ; Holub, Tomáš (advisor) ; Šopov, Daniel (referee)
In last twenty years, the Baltic countries have experienced turbulent develompents of their current accounts. Deficits on these accounts were often substantially above 10% of GDP and there was active discussion about their sustainibility. We will look in this work on the developments of the current accounts both from practical and theoretical point of view. The later is made with usage of an intertemporal model of representative agent, who maximazes his utility by optimizing his consumption profile over infinite time horizon. This model is then used in empirical part, where we compare estimated values of the current accounts with their real values. We assume that expectations about future values of key variables are realized by following the vector autoregression of order one. The results of this work suggest that big deficits in past were caused by high expectations about growth rates of the economies. Decreasing of this expectations then resulted in the adjustments of the current accounts. Powered by TCPDF (www.tcpdf.org)
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