In this paper, we innovatively apply both Taylor rule, where an interest rate is used as a policy reaction, and McCallum rule, where monetary base is considered as a policy instrument, for the new EU member states in analysing monetary policy reaction functions. For the Czech Republic, Poland,...

This paper investigates the interaction between migration and the European Union (EU) labour market. The study runs Granger causality tests using panel data on 13 of the original EU countries. As predicted by theory, the modelling unveils a negative relationship among unemployment and migration....