IE fallback, EDGE is OK

Jan Brůha

Economic Research Division, Monetary Department
Fields:  Bayesian econometrics,
macroeconomic modelling,
monetary economics
Education: Ph.D. (economics), CERGE-EI, 2013; Ph.D. (econometrics), University of Economics, Prague, 2006
Phone: +420 224 414 306

Work in Progress

  • Forecasting and Policy Analysis with Trend-Cycle BVARs (with M. Andrle)
  • Cyclically adjusted current account (with O. Babecká Kucharčuková)
  • Sparse Kalman filter: a non-recursive approach (with M. Andrle)

Recent CNB Publications

  • Assessment of the Nature of the Pandemic Shock: Implications for Monetary Policy, Czech National Bank Research and Policy Note 1/2022 (with Oxana Babecká Kucharčuková, Petr Král, Martin Motl and Jaromír Tonner)
  • Independent Monetary Policy Versus a Common Currency: A Macroeconomic Analysis for the Czech Republic Through the Lens of an Applied DSGE Model, CNB Working Papers 2018/19, (with J. Tonner)
  • An Exchange Rate Floor as an Instrument of Monetary Policy: An Ex-post Assessment of the Czech Experience," CNB Working Papers 2017/04. (with J. Tonner)
  • An Empirical Analysis of Macroeconomic Resilience: The Case of the Great Recession in the European Union, CNB Working Papers 2017/10, (with O. Babecká Kucharčuková)
  • Understanding Rating Movements in Euro Area Countries, Working Papers 2017/06, Czech National Bank (with M. Karber, B. Pierluigi and R. Setzer).
  • On the Sources of Business Cycles: Implications for DSGE Models, Czech National Bank WP 3/2016 (with Michal Andrle and Serhat Solmaz).
  • Empirical Analysis of Labor Markets over Business Cycles: An International Comparison, CNB Working Papers 15/2015 (with Jiri Polansky).
  • The Housing Sector over Business Cycles: Empirical Analysis and DSGE Modelling, CNB Working Papers 2014/12 (with Jiri Polansky)
  • Czech Housing Market Through Lens of a DSGE Model With Collateral Constrained Households, Czech National Bank WP 9/2014 (with Jaromír Tonner)
  • Incorporating Judgments and Dealing with Data Uncertainty in Forecasting at the Czech National Bank, Czech National Bank RPN 2/2013 (with Tibor Hlédik, Tomáš Holub, Jiří Polanský and Jaromír Tonner)
  • Inflation and Output Comovement in the Euro Area: Love at Second Sight?, Czech National Bank WP 7/2013 (with Michal Andrle and Serhat Solmaz)

Selected Publications in Refereed Journals

  • Financial stability in Europe: Banking and sovereign risk, Journal of Financial Stability, 36(C), 2018 pages 305-321 (with E. Kočenda)
  • An Exchange Rate Floor as an Instrument of Monetary Policy: An Ex-Post Assessment of the Czech Experience, Czech Journal of Economics and Finance (Finance a uver vol. 68(6): 537-549, 2018, December (with J. Tonner).
  • The Dynamics of Economic Convergence: The Role of Alternative Investment Decisions, Journal of Economic Dynamics and Control, 2011, 35(7), 1032-1044 (with Jiří Podpiera)
  • Real Exchange Rate in Emerging Economies: The Role of Different Investment Margins, Economics of Transition, 2010, 18 (3), 599-628 (with Jiří Podpiera)
  • The Convergence Dynamics of a Transition Economy: The Case of the Czech Republic, Economic Modelling, 2010, 27 (1), 116-124 (with Jiří Podpiera and Stanislav Polak)
  • Organized Labor and Restructuring: Coal Mining in the Czech Republic and Romania, Czech Journal of Economics and Finance, 2007, 57(5-6), 272-291 (with Byeongju Jeong and Delia Ionascu)
  • Macroeconomic Factors and the Balanced Value of the Czech Koruna/Euro Exchange Rate, Czech Journal of Economics and Finance, 2006, 56(7-8), 318-343 (with Alexis Derviz)

Other Publications

  • Labour market modelling in the light of the financial crisis," Occasional Paper Series 175, European Central Bank, 2016. (with Lafourcade, Pierre, Gerali, Andrea, Brůha, Jan, Bursian, Dirk, Buss, Ginters, Corbo, Vesna, Haavio, Markus, Håkanson, Christina, Hlédik, Tibor, Kátay, Gábor, Kulikov, Dmitry, Lozej, Matija)
  • Output and Inflation Comovement: An Update on Business Cycle Stylized Facts, IMF WP/16/241 (with Michal Andrle and Serhat Solmaz)

Other Information


  • Olga Radzyner Award (2007) by the Austrian National Bank (best scientific work on European integration)


  • Economics of Transition, Macroeconomic Dynamics, Economic Modelling, Economics System, Czech Journal of Economics and Finance, Journal of Financial Stability, Portuguese Journal of Economics, AUCO Czech Economic Review, CNB Working Paper series.
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