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The VARying effect of foreign shocks in Central and Eastern Europe
Jiménez-Rodriguez, Rebeca; Morales-Zumaquero, Amalia; … - 2010
This paper investigates the impact of international shocks - interest rate, commodity price and industrial production shocks - on key macroeconomic variables in ten Central and Eastern European (CEE) countries by using near-VAR models and monthly data from the early 1990s to 2009. In contrast to...
Persistent link: https://www.econbiz.de/10010273871
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The VARying Effect of Foreign Shocks in Central and Eastern Europe
Jiménez-Rodriguez, Rebeca; Morales-Zumaquero, Amalia; … - CESifo - 2010
This paper investigates the impact of international shocks – interest rate, commodity price and industrial production shocks – on key macroeconomic variables in ten Central and Eastern European (CEE) countries by using near-VAR models and monthly data from the early 1990s to 2009. In...
Persistent link: https://www.econbiz.de/10008596588
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The VARying Effect of Foreign Shocks in Central and Eastern Europe
Jimenez-Rodriguez, Rebeca; Morales-Zumaquero, Amalia; … - William Davidson Institute, University of Michigan - 2010
This paper investigates the impact of international shocks – interest rate, commodity price and industrial production shocks – on key macroeconomic variables in ten Central and Eastern European (CEE) countries by using near-VAR models and monthly data from the early 1990s to 2009. In...
Persistent link: https://www.econbiz.de/10008606476
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Is there an asymmetric effect of monetary policy over time? A Bayesian analysis using Austrian data.
Kaufmann, Sylvia - In: Empirical Economics 27 (2002) 2, pp. 277-297
The present paper assesses whether monetary policy effects are asymmetric over the business cycle by estimating a univariate model for GDP including additionally the first difference of the 3-month Austrian interest rate as a measure for monetary policy. The asymmetry of the effects is captured...
Persistent link: https://www.econbiz.de/10005382475
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Output Gap Uncertainty and Real-Time Monetary Policy
Grigoli, Francesco; Herman, Alexander; Swiston, Andrew; … - International Monetary Fund (IMF) - 2015
Output gap estimates are subject to a wide range of uncertainty owing to data revisions and the difficulty in distinguishing between cycle and trend in real time. This is important given the central role in monetary policy of assessments of economic activity relative to capacity. We show that...
Persistent link: https://www.econbiz.de/10011163120
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Managing Chile's Macroeconomy during and after the Copper Price Boom
Mello, Luiz de - Economics Department, Organisation de Coopération et … - 2008
social development. The main challenge in the macroeconomic area is to maintain the policy setting that has served Chile so … public sector in a low-tax, low-debt environment. This paper relates to the 2007 Economic Survey of Chile (www.oecd.org/eco/surveys/chile …).<P>La gestion macroéconomique du Chili durant et après la forte hausse des prix du cuivre<BR>Respectant la règle d …
Persistent link: https://www.econbiz.de/10005046168
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Monetary Policy Objectives During the Crisis: An Overview of Selected Southeast European Countries
Krstevska, Aneta - In: Journal of Central Banking Theory and Practice 4 (2015) 1, pp. 35-46
The recent global crisis brought many challenges to the central bankers worldwide, including the issue of monetary policy objectives. In this view, besides price stability maintenance, a special attention by central bankers during the crisis was given to the output stabilization. This paper...
Persistent link: https://www.econbiz.de/10012217804
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Monetary policy under alternative exchange rate regimes in Central and Eastern Europe
Ziegler, Christina - 2012
Monetary policy in CEE is an important determinant in the wage bargaining process, because trade unions have to predict inflation as one component of future real wages. This paper scrutinizes whether countries in CEE that officially announce an inflation target are tempted to act...
Persistent link: https://www.econbiz.de/10010308235
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Reducing Macroeconomic Imbalances in Turkey
Röhn, Oliver; Gönenç, Rauf; Koen, Vincent; Coşar, … - Economics Department, Organisation de Coopération et … - 2014
Turkey recovered swiftly from the global financial crisis but sizeable macroeconomic imbalances arose in the process. High consumer price inflation and a wide current account deficit are sources of vulnerability. Even though below-potential growth helps rebalancing and disinflation, these...
Persistent link: https://www.econbiz.de/10011277023
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Tackling Turkey's External and Domestic Macroeconomic Imbalances
Röhn, Oliver; Gönenç, Rauf; Koen, Vincent; … - Economics Department, Organisation de Coopération et … - 2012
Effective macroeconomic and structural policies helped Turkey bounce back quickly and strongly from the global crisis, with annual growth averaging close to 9% over 2010-11. However, the current account deficit widened to around 10% of GDP in 2011 and consumer price inflation rose to over 10%....
Persistent link: https://www.econbiz.de/10011277032