Copyright Page
IMF Country Report No. 21/134
THE SLOVAK REPUBLIC
SELECTED ISSUES PAPER
This paper on the Slovak Republic was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on June 7, 2021.
June 2021
Copies of this report are available to the public from
International Monetary Fund • Publication Services
PO Box 92780 • Washington, D.C. 20090
Telephone: (202) 623–7430 • Fax: (202) 623–7201
E-mail: publications@imf.org Web: http://www.imf.org
Price: $18.00 per printed copy
International Monetary Fund
Washington, D.C.
© 2021 International Monetary Fund
Title page
SLOVAK REPUBLIC
SELECTED ISSUES
June 7, 2021
Approved By
European Department
Prepared by Mariano Spector and Laura Valderrama
Contents
THE SLOVAK AUTO SECTOR DURING THE PANDEMIC AND BEYOND: MODEL BASED EVIDENCE
A. Introduction
B. The Impact of the Pandemic
C. Reorganization of Supply Chains
D. Conclusion
References
ANNEX
I. Model Setup
MACROPRUDENTIAL POLICY CALIBRATION IN SLOVAKIA
A. The Context
B. The Policy Response
C. The Model
D. Stress Test Results
E. Counterfactual Macroprudential Policy Simulations
F. Policy Implications
References
ANNEX
I. A Structural Model to Measure Mortgage Risk
FIGURES
1. Cross-Sector Comparison of European Supply Chain Lengths
2. The Auto Industry Across European Countries
3. Change in Slovak Auto Sector GVA by Source of Shock
4. Exposure to Changes in Trade Patterns