This paper models the evolution of monetary policy, the term structure of interest rates and the UK economy across policy regimes. We model the interaction between the macroeconomy and the term structure using a time-varying VAR model augmented with the factors from the yield curve. Our results...

We deal with the evolutions of monetary conditions in Romania before and during the economic crisis, and the extent to which GDP shocks are related to these conditions. The results confirmed the essential role of interest rate, credit and exchange rate in this respect, which underlines the...