Add to ORKGThis paper investigates the role of monetary policy in a small open economy, where exchange rate shocks are important. VAR models are estimated for the Czech Republic, Hungary and Poland. Contemporaneous and sign restrictions are imposed in order to identify the effect of monetary policy and risk premium shocks. Estimates from the same model for Canada, Sweden and the UK are used as benchmark for developed economies with low inflation. The results suggest that the typical size a of risk premium shock renders it almost impossible for the interest rate policy to smooth the exchange rate with the aim of minimising inflationary consequences. On the other hand, low inflation may decrease the exchange rate pass-through, which helps the monetary p...
This paper is devoted to an extension of Dibooglu and Kutan’s work [Journal of Comparative Economics...
Changes in interest rates, inflation, and exchange rates are the main components of macroeconomic ri...
The stable macroeconomic environment, as one of the primary objectives of the Visegrad countries in ...
The central banks of small, open countries often face the problem that the exchange rate of their cu...
This study examines the impact of various monetary policy regimes on the ability to lower inflation ...
The paper makes an attempt to estimate the effects of monetary policy shocks on the economy. We esti...
This paper analyzes the transmission mechanisms of a contractionary monetary policy shock on the rea...
within VAR, structural VAR, and the Factor-Augmented VAR framework. We document a well-functioning t...
In 1991, the rate of inflation in the Czech Republic, Hungary and Poland was between 35% and 70%. At...
In this paper, we provide evidence on the nature and the relative importance of domestic and foreign...
In this article is compared the monetary and the exchange rate policies and their influence on the r...
In 1991, the rate of inflation in the Czech Republic, Hungary and Poland was between 35% and 70%. At...
The stable macroeconomic environment, as one of the primary objectives of the Visegrad countries in ...
The paper analyses the financial structure of the private sector in the Czech Republic, Hungary and ...
International audienceThe paper explores (former) transition economies, Poland, Czech Republic, Slov...
This paper is devoted to an extension of Dibooglu and Kutan’s work [Journal of Comparative Economics...
Changes in interest rates, inflation, and exchange rates are the main components of macroeconomic ri...
The stable macroeconomic environment, as one of the primary objectives of the Visegrad countries in ...
The central banks of small, open countries often face the problem that the exchange rate of their cu...
This study examines the impact of various monetary policy regimes on the ability to lower inflation ...
The paper makes an attempt to estimate the effects of monetary policy shocks on the economy. We esti...
This paper analyzes the transmission mechanisms of a contractionary monetary policy shock on the rea...
within VAR, structural VAR, and the Factor-Augmented VAR framework. We document a well-functioning t...
In 1991, the rate of inflation in the Czech Republic, Hungary and Poland was between 35% and 70%. At...
In this paper, we provide evidence on the nature and the relative importance of domestic and foreign...
In this article is compared the monetary and the exchange rate policies and their influence on the r...
In 1991, the rate of inflation in the Czech Republic, Hungary and Poland was between 35% and 70%. At...
The stable macroeconomic environment, as one of the primary objectives of the Visegrad countries in ...
The paper analyses the financial structure of the private sector in the Czech Republic, Hungary and ...
International audienceThe paper explores (former) transition economies, Poland, Czech Republic, Slov...
This paper is devoted to an extension of Dibooglu and Kutan’s work [Journal of Comparative Economics...
Changes in interest rates, inflation, and exchange rates are the main components of macroeconomic ri...
The stable macroeconomic environment, as one of the primary objectives of the Visegrad countries in ...