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Using Extraneous Information to Analyze Monetary Policy in Transition Economies
Gavin, William T. - 2007
Empirical macroeconomics is plagued by small sample size and large idiosyncratic variation. This problem is especially severe in the case of the transition economies. We utilize a mixed-estimation method incorporating prior information from OECD country data to estimate the parameters of a...
Persistent link: https://www.econbiz.de/10012732092
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Monetary Policy Transmission, Interest Rate Rules and Inflation Targeting in Three Transition Countries
Golinelli, Roberto; Rovelli, Riccardo - 2002
In 1991, the rate of inflation in the Czech Republic, Hungary and Poland was between 35% and 70%. At the end of 2001 …
Persistent link: https://www.econbiz.de/10014120553
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Do Central Banks Respond to Exchange Rate Movements? A Markov-Switching Structural Investigation
Alstadheim, Ragna - 2013
Do central banks respond to exchange rate movements? According to Lubik and Schorfheide (2007) who estimate structural general equilibrium models with monetary policy rules, the answer is "Yes, some do". However, their analysis is based on a sample with multiple regime changes, which may bias...
Persistent link: https://www.econbiz.de/10013073105
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Is monetary policy always effective? : incomplete interest rate pass-through in a DSGE model
Binning, Andrew; Bjørnland, Hilde Christiane; Maih, Junior - 2019
We estimate a regime-switching DSGE model with a banking sector to explain incomplete and asymmetric interest rate pass-through, especially in the presence of a binding zero lower bound (ZLB) constraint. The model is estimated using Bayesian techniques on US data between 1985 and 2016. The...
Persistent link: https://www.econbiz.de/10012214427
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Macroeconomic risks and monetary policy in Central European countries : parallels in the Czech Republic, Hungary, and Poland
Ábel, István; Siklos, Pierre L. - In: Risks : open access journal 11 (2023) 11, pp. 1-26
monetary policy approaches taken in the Czech Republic, Hungary, and Poland until the pandemic. We provide a simple theoretical …
Persistent link: https://www.econbiz.de/10014436574
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Switching to exchange rate flexibility? : the case of central and eastern European inflation targeters
Drygalla, Andrej - 2015
This paper analyzes changes in the monetary policy in the Czech Republic, Hungary, and Poland following the policy … movements in the Czech Republic and Poland, but an increased attention to it in Hungary. Simulations for the Czech Republic and … Poland also suggest their respective central banks, rather than a sound macroeconomic environment, being accountable for …
Persistent link: https://www.econbiz.de/10011374063
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Risk premium shocks, monetary policy and exchange rate pass-through in the Czech Republic, Hungary and Poland
Vonnák, Balázs - 2010
. VAR models are estimated for the Czech Republic, Hungary and Poland. Contemporaneous and sign restrictions are imposed in …
Persistent link: https://www.econbiz.de/10003935145
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Substitution between domestic and foreign currency loans in Central Europe : do central banks matter?
Brzoza-Brzezina, Michał; Chmielewski, Tomasz; … - 2010
, based on a panel of four biggest Central European countries (the Czech Republic, Hungary, Poland and Slovakia) confirm …
Persistent link: https://www.econbiz.de/10003973003
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Monetary convergence and risk premiums in the EU candidate countries
Orłowski, Lucjan T. - 2002
. Recent trends in these risk premiums in Hungary, the Czech Republic and Poland are tested by using the GARCH (1 …
Persistent link: https://www.econbiz.de/10010519049
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Monetary convergence of the EU candidates to the Euro : a theoretical framework and policy implications
Orłowski, Lucjan T. - 2001 - This version: September 2001
in this study. The empirical testing is conducted for Poland, the Czech Republic and Hungary. The analysis recommends … believed to facilitate both the economic transition and the monetary convergence to the euro. Following this assumption, an …
Persistent link: https://www.econbiz.de/10010519057