Showing 1 - 10 of 80
This paper analyses empirically the link between central bank financial strength and inflation. The issue has become … relationship between several measures of central bank financial strength and inflation, this link appears rather weak and not as … robust as suggested by the previous - very limited - literature. In general, other inflation determinants play a much more …
Persistent link: https://www.econbiz.de/10010553139
This paper is aimed to address when and why do banking crises occur, and whether financial reforms in reaction to crises are generally beneficial. It is argued that banking crises properly defined consist either of panics or of waves of costly bank failures, and they do not necessarily coincide....
Persistent link: https://www.econbiz.de/10008765132
This paper examines the impact of monetary conditions on the risk-taking behaviour of banks in the Czech Republic by analysing the comprehensive credit register of the Czech National Bank. Our duration analysis indicates that expansionary monetary conditions promote risk-taking among banks. At...
Persistent link: https://www.econbiz.de/10009645623
The use of estimated policy rules has been on the rise over the past few decades as central banks have increasingly relied on them as policy benchmarks. While simple, conventionally estimated rules have proven insightful, their value is generally seen to depend, among other things, on the...
Persistent link: https://www.econbiz.de/10005405570
This paper contributes to a better understanding of how inflation targets are set. First, we gather evidence on how … inflation targets are set from official central bank and government publications and from a questionnaire of our own design …. Second, we estimate the determinants of the level of the inflation target in 19 inflation-targeting countries using …
Persistent link: https://www.econbiz.de/10009322933
The paper provides a theoretical reference point for discussions on adjustments in price levels and relative prices. The authors present a 'nested' model integrating the Balassa-Samuelson model of the real equilibrium exchange rate with a model of accumulation of capital and with the demand side...
Persistent link: https://www.econbiz.de/10005765475
The paper analyses the price convergence in the Czech Republic and other Central and Eastern European (CEE) countries towards the European Union (EU). Cross-country comparisons based on the International Comparison Project (ICP) 1999 are used. The authors conclude that in a benchmark convergence...
Persistent link: https://www.econbiz.de/10005405576
literature does not come to a consensus about the degree of pass-through to Czech inflation. Since there is no unique approach …
Persistent link: https://www.econbiz.de/10005635438
We examine whether and how selected central banks responded to episodes of financial stress over the last three decades. We employ a new monetary-policy rule estimation methodology which allows for time-varying response coefficients and corrects for endogeneity. This flexible framework applied...
Persistent link: https://www.econbiz.de/10009221547
In this paper we analyze the favorableness and extent of the media coverage of the CNB’s monetary policy decisions in the period of 2002–-2007. We identify the factors explaining the variance in these two dimensions using an extensive set of articles published in the four most...
Persistent link: https://www.econbiz.de/10008599448