In this paper, we follow the econometric approach to assess relative importance of real interest rate and real exchange rate for the monetary conditions in Poland, quantified as weights for Monetary Conditions Index (MCI). We consider both single- and multiple-equation specifications proposed in the literature with an application to Poland. Although MCI is nowadays broadly considered a rather obsolete indicator in monetary policy conduct, we argue that the econometric framework used for this purpose could be a good departure point when modelling monetary adjustments in a monetary union, provided correct dynamic specification of the models.Monetary Conditions Index, MCI-ratio, IS curve, Phillips curve, VAR.
The paper makes an attempt to estimate the effects of monetary policy shocks on the economy. We esti...
The paper estimates a household money demand function for Poland from 1969 to 1995. Contrary to theo...
We seek to test the hypothesis that the weight on output gap variability in the central bank’s loss ...
The Monetary Conditions Index is a composite index of interest and exchange rates frequently used by...
In recent years increasing use has been made in monetary policy analysis of the so-called Monetary C...
Monetary Conditions IndicatorsMartin CIHAK ? International Monetary Fund, Washington, D.C.Tomas HOLU...
The Monetary Conditions Index (MCI) is a concept with a twofold use in the analysis of monetary cond...
The impact of exchange rate policy on macroeconomic targets (growth, inflation…) is rather difficult...
The purpose of this text is to discuss the interpretation of the co-called monetary condi-tions inde...
The Monetary Conditions Index is a composite index of interest and exchange rates frequently used by...
The monetary conditions index is a composite index of interest and exchange rates frequently used by...
Using information from a variety of sources, including our own estimates from quarterly data for eac...
Accurate measures of the size and direction of changes in monetary policy are very important. A numb...
This paper reviews the usefulness of monetary conditions in the euro area as leading indicators for ...
Article deals with estimating real natural interest rate and exchange rate to construct monetary con...
The paper makes an attempt to estimate the effects of monetary policy shocks on the economy. We esti...
The paper estimates a household money demand function for Poland from 1969 to 1995. Contrary to theo...
We seek to test the hypothesis that the weight on output gap variability in the central bank’s loss ...
The Monetary Conditions Index is a composite index of interest and exchange rates frequently used by...
In recent years increasing use has been made in monetary policy analysis of the so-called Monetary C...
Monetary Conditions IndicatorsMartin CIHAK ? International Monetary Fund, Washington, D.C.Tomas HOLU...
The Monetary Conditions Index (MCI) is a concept with a twofold use in the analysis of monetary cond...
The impact of exchange rate policy on macroeconomic targets (growth, inflation…) is rather difficult...
The purpose of this text is to discuss the interpretation of the co-called monetary condi-tions inde...
The Monetary Conditions Index is a composite index of interest and exchange rates frequently used by...
The monetary conditions index is a composite index of interest and exchange rates frequently used by...
Using information from a variety of sources, including our own estimates from quarterly data for eac...
Accurate measures of the size and direction of changes in monetary policy are very important. A numb...
This paper reviews the usefulness of monetary conditions in the euro area as leading indicators for ...
Article deals with estimating real natural interest rate and exchange rate to construct monetary con...
The paper makes an attempt to estimate the effects of monetary policy shocks on the economy. We esti...
The paper estimates a household money demand function for Poland from 1969 to 1995. Contrary to theo...
We seek to test the hypothesis that the weight on output gap variability in the central bank’s loss ...