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The convergence dynamics of a transition economy: The case of the Czech Republic

Jan Bruha (), Jiri Podpiera and Stanislav Polák

Economic Modelling, 2010, vol. 27, issue 1, 116-124

Abstract: In this paper we develop a two-country dynamic general equilibrium model by means of which we seek to explain the long-run path of a transition economy. The model's novel feature is the inclusion of quality investment in the standard framework of applied general equilibrium two-country models. This feature is necessary to explain the trend in the real exchange rate. We present an application to the Czech economy.

Keywords: Two-country; modeling; Convergence (search for similar items in EconPapers)
Date: 2010
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Working Paper: The Convergence Dynamics of a Transition Economy; The Case of the Czech Republic (2007) Downloads
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