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Monetary approach to inflation: A medium-term structural model in a small open economy (the case of the Czech Republic in 1996-2004)
Arlt, Josef; Kodera, Jan; Mandel, Martin; Tomšík, … - In: Politická ekonomie 2006 (2006) 3
The paper analyses a relationship between monetary aggregate M2 and inflation in a small open economy. The relationship … between monetary expansion and inflation as well as a dynamic of income velocity of money framework in a small open economy … money and tradables inflation in the case of the Czech small open economy is not found. The conclusions presented in the …
Persistent link: https://www.econbiz.de/10005036707
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The case for reforming euro area entry criteria
Darvas, Zsolt - In: Society and Economy 32 (2010) December, pp. 195-219
members of the US monetary union by applying the currently used inflation criterion to the US. It is time to reform the …
Persistent link: https://www.econbiz.de/10010822432
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The Case for Reforming Euro Area Entry Criteria
Darvas, Zsolt - Közgazdaság-tudományi Intézet, Közgazdaság- és … - 2010
members of the US monetary union by applying the currently used inflation criterion to the US. It is time to reform the …
Persistent link: https://www.econbiz.de/10008677580
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Long Maturity Forward Rates of Major Currencies are Stationary
Darvas, Zsolt - 2007
Using eight unit root tests and a stationarity test and three decades of monthly data for the currencies between the US, Germany, UK and Switzerland, we find that, while spot exchange rates are non-stationary, long maturity forward rates are stationary
Persistent link: https://www.econbiz.de/10012731229
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Kamatkülönbség és árfolyam-várakozások az előre bejelentett kúszó árfolyamrendszerben
Darvas, Zsolt - In: Közgazdasági Szemle (Economic Review - monthly of the … XLIII (1996) 10, pp. 920-947
A pénzügyi piacok folyamatait vizsgálva, érdekes rejtély tárul fel: a korábban több szempontból jónak ítélhető kamat- és árfolyam-várakozások a kúszó árfolyamrendszer bevezetése után tévesnek bizonyultak. Vajon a piac szereplői nem hittek az előre bejelentett...
Persistent link: https://www.econbiz.de/10010963450
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Real Effective Exchange Rates for 178 Countries: a New Database
Darvas, Zsolt - Matematikai Közgazdaságtan és Gazdaságelemzés, … - 2012
We use data on exchange rates and consumer price indices and the weighting matrix derived by Bayoumi, Lee and Jaewoo (2006) to calculate consumer price index-based REER. The main novelties of our database are that (1) it includes data for 178 countries –many more than in any other publicly...
Persistent link: https://www.econbiz.de/10010538920
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Real effective exchange rates for 178 countries: A new database
Darvas, Zsolt - Közgazdaság-tudományi Intézet, Közgazdaság- és … - 2012
We use data on exchange rates and consumer price indices and the weighting matrix derived by Bayoumi, Lee and Jaewoo (2006) to calculate consumer price index-based REER. The main novelties of our database are that (1) it includes data for 178 countries -many more than in any other publicly...
Persistent link: https://www.econbiz.de/10010551503
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A Tale of Three Countries: Recovery after Banking Crises
Darvas, Zsolt - Közgazdaság-tudományi Intézet, Közgazdaság- és … - 2012
Iceland, Ireland and Latvia experienced similar developments before the crisis, such as sharp increases in banks' balance sheets and the expansion of the construction sector. However the impact of the crisis was different: Latvia was hit harder than any other country in the world. Ireland also...
Persistent link: https://www.econbiz.de/10010551506
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Can Europe recover without credit?
Darvas, Zsolt - Közgazdaságtudományi Kar, Budapesti Corvinus Egyetem - 2014
Data from 135 countries covering five decades suggests that creditless recoveries, in which the stock of real credit does not return to the pre-crisis level for three years after the GDP trough, are not rare and are characterised by remarkable real GDP growth rates: 4.7 percent per year in...
Persistent link: https://www.econbiz.de/10010812073
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Can Europe Recover Without Credit?
Darvas, Zsolt - Matematikai Közgazdaságtan és Gazdaságelemzés, … - 2013
Data from 135 countries covering five decades suggests that creditless recoveries, in which the stock of real credit does not return to the pre-crisis level for three years after the GDP trough, are not rare and are characterised by remarkable real GDP growth rates: 4.7 percent per year in...
Persistent link: https://www.econbiz.de/10010643606