transmission mechanism in Slovakia. Subject to various sensitivity checks, we find that contractionary monetary policy shock has a … policy shock on Slovak prices is more powerful than that of the National Bank of Slovakia. Slovak central bank interest rate …

analysis of the transmission of a positive supply shock that originates in one of the countries shows that on impact the shock … and output level that is identical to the one before the shock. The the capital stock of one country undergoes a non …

Chapter 6, viz. the persistence of international real interest rates and estimation of their half-life. Half-life is selected … estimation and a non-standard statistical inference methodology (Highest Density Regions) is adopted. Chapter 7 reapplies the … High Density Regions methodology and bootstrap half-life estimation to the data used in Chapters 2 and 5. This provides a …

standard and international trade. The estimation results allow us to formulate some interesting policy conclusions. …

, output decreases in most subsectors after a restrictive monetary shock. The sectors of electrical and electronic equipment … be explained by the fact that monetary policy works mainly as supply shock in some subsectors. But the identified price …