Similar Search Results

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

Contagion Across and Integration of Central and Eastern European Stock Markets : Evidence from Intraday Data

Égert, Balázs - 2006

We analyze interrelations between three stock markets in Central and Eastern Europe and, in addition, interconnections which may exist between Western European (DAX, CAC, UKX) and Central and Eastern European stock markets (BUX, PX-50, WIG20). The novelty of our paper rests mainly on the use of...

Persistent link: https://www.econbiz.de/10012733551

Equilibrium Exchange Rate in the Czech Republic : How Good is the Czech Beer?

Babetski, Jan - 2009

This paper investigates the equilibrium exchange rate of the Czech koruna using the reduced form equation of the stock-flow approach advocated, for instance, by Faruqee (1995) and Alberola and others (1999). We investigate whether or not the observed real exchange rate of the Czech koruna is...

Persistent link: https://www.econbiz.de/10012721752

Exchange Rate Regimes, Foreign Exchange Volatility and Export Performance in Central and Eastern Europe : Just Another Blur Project?

Égert, Balázs - 2007

This paper attempts to analyze the direct impact of exchange rate volatility on the export performance of ten Central and Eastern European transition economies as well as its indirect impact via changes in exchange rate regimes. Not only aggregate but also bilateral and sectoral export flows are...

Persistent link: https://www.econbiz.de/10012731760

Equilibrium Exchange Rates in the Transition : The Tradable Price-Based Real Appreciation and Estimation Uncertainty

Égert, Balázs - 2007

This paper sets out to estimate equilibrium real exchange rates for the Czech Republic, Hungary, Poland, Slovakia and Slovenia. A theoretical model is developed that provides an explanation for the appreciation of the real exchange rate based on tradable prices in the acceding countries. Our...

Persistent link: https://www.econbiz.de/10012732260

Equilibrium Exchange Rates in Transition Economies : Taking Stock of the Issues

Égert, Balázs - 2006

In this paper we present an overview of a number of issues relating to the equilibrium exchange rates of transition economies of the former soviet bloc. In particular, we present a critical overview of the various methods available for calculating equilibrium exchange rates and discuss how...

Persistent link: https://www.econbiz.de/10012733555

Real Exchange Rates in Small Open OECD and Transition Economies : Comparing Apples with Oranges?

Égert, Balázs - 2013

We find that productivity gains in tradables cause an appreciation of the real exchange rate via both tradable and nontradable prices in the CEE-5 and have no affect in the Baltic countries, while they lead to a depreciation of the real exchange rate of tradables in OECD economies that...

Persistent link: https://www.econbiz.de/10012753988

Non-Linear Exchange Rate Dynamics in Target Zones : A Bumpy Road Towards a Honeymoon - Some Evidence from the Erm, Erm2 and Selected New EU Member States

Cuaresma, Jesús Crespo - 2013

This study investigates exchange rate movements in the Exchange Rate Mechanism (ERM) of the European Monetary System (EMS) and in the Exchange Rate Mechanism II (ERM-II). On the basis of Bessec (2003), we set up a three-regime self-exciting threshold autoregressive model (SETAR) with a...

Persistent link: https://www.econbiz.de/10012754530

Nominal and Real Exchange Rate Models in South Africa: How Robust Are They?

Égert, Balázs - EconomiX, Université Paris Ouest-Nanterre la Défense … - 2012

This paper addresses difficulties in modelling exchange rates in South Africa. Real exchange rate models of earlier research seem to be sensitive to the sample period considered, alternative variable definition, data frequency and estimation methods. Alternative exchange rate models proposed in...

Persistent link: https://www.econbiz.de/10010992383

The impact of macro news and central bank communication on emerging European forex markets

Égert, Balázs; Kočenda, Evžen - EconomiX, Université Paris Ouest-Nanterre la Défense … - 2012

We analyze the impact of macroeconomic news and central bank communication on the exchange rates of three Central and Eastern European (CEE) currencies against the euro. In doing so, we first estimate standard and extended versions of the monetary model to capture deviations from the long-term...

Persistent link: https://www.econbiz.de/10010992391