Benkovskis, Konstantins; Bessonovs, Andrejs; … - In: Focus on European Economic Integration (2011) 3, pp. 8-36
We analyze the effects of euro area monetary policy on three Central and Eastern European non-euro area EU countries: the Czech Republic, Poland and Hungary. We employ an open economy version of the factor-augmented vector autoregression model (FAVAR) to estimate the cross-border effects of a...