My research interests lie in macroeconomic modelling with financial frictions, expectation formation and learning. In my dissertation I studied how relaxing the assumption of rational expectation modifies the output of macroeconomic models. In particularly I showed how imperfect information among the financial agents modifies their risk-taking decisions, the effect of monetary policy on banks’ lending or equilibrium selection.

I work in the Czech National Bank , Economic Research Division, Monetary Department.

My curriculum vitae can be downloaded here

"Multi-country stuctural model" ,

an adjustment of De Walgue et al. (2017) to incorporate Chinese economy.

"Sparse RPE" , joint with Sergey Slobodyan

In this work we consider a concept of sparse rationality (developed recently by Gabaix, 2014) as a selection tool in a model with multiple equilibria.

"Confidence Cycles and Liquidity Hoarding", Volha Audzei

Czech National Bank Working Papers 2016/07
Latest version

"Efficiency of Central Bank Policy During the Crisis : Role of Expectations in Reinforcing Hoarding Behavior", Volha Audzei

CERGE-EI Working Papers 477, The Center for Economic Research and Graduate Education - Economics Institute, Prague.

"Exchange Rate Dynamics and its Effect on Macroeconomic Volatility in Selected CEE Countries", Volha Audzei & Frantisek Brazdik

Economic Systems

Oct 2015
"Monetary Policy and Exchange Rate Dynamics: The Exchange Rate as a Shock Absorber", Volha Audzei & Frantisek Brazdik

Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 65(5), pages 391-410.


Within the project "Macro Model Data Base" - together with Sergey Slobodyan (project under supervision of Volker Wieland, Goethe University Frankfurt) I was contributing to database expansion, in particular rewriting DSGE models under adaptive learning in Dynare toolbox, Matlab; programing routines for database expansion in Matlab.


Within IDEA team (Institute for Democracy and Economic Analysis) project constructed GVAR model using GVAR toolbox for Matlab - together with Martin Kuncl (work was not published).



Connect on LinkedIn:

Volha Audzei