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The Welfare Cost of the EMU for Transition Countries
Ferreira-Lopes, Alexandra - In: Prague Economic Papers 2014 (2014) 4, pp. 446-473
The Czech Republic, Hungary, and Poland are set to join the Economic and Monetary Union (EMU) in the near future. This … directly evaluate the effects of monetary policy in terms of welfare. Our findings suggest that the Czech Republic and Poland … may experience sizable welfare costs as a result of joining the EMU. Results for Hungary are less striking as welfare …
Persistent link: https://www.econbiz.de/10011195639
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Do Central Banks Respond to Exchange Rate Movements? a Markov-Switching Structural Investigation
Alstadheim, Ragna; Bjørnland, Hilde C.; Maih, Junior - 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/10012143836
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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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The welfare cost of the EMU for transition countries
Ferreira-Lopes, Alexandra - In: Prague economic papers : a bimonthly journal of … 23 (2014) 4, pp. 446-473
Persistent link: https://www.econbiz.de/10011285602
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Central banks' voting records, financial crisis and future monetary policy
Horváth, Roman; Jonášová, Júlia - 2014
republic, Hungary, Poland, Sweden and the United Kingdom, controlling for financial market expectations. Unlike previous …
Persistent link: https://www.econbiz.de/10010461227
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Analysis of various shocks within the high-frequency versions of the baseline new-keynesian model
Sacht, Stephen - 2014
In this paper we analyze a hybrid small-scale New-Keynesian model with an arbitrary frequency of the agents’ synchronized decision making. We study the impact of various demand and supply shocks on the dynamics of the model variables. We show that the corresponding impulse-response functions...
Persistent link: https://www.econbiz.de/10010234030
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Analysis of various shocks within the high-frequency versions of the baseline new-Keynesian model : conference paper
Sacht, Stephen - 2014
In this paper we analyze a hybrid small-scale New-Keynesian model with an arbitrary frequency of the agents synchronized decision making. We study the impact of various demand and supply shocks on the dynamics of the model variables. We show that the corresponding impulse-response functions of...
Persistent link: https://www.econbiz.de/10010483854
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Leaning against the wind policies on Vietnam's economy with DSGE model
Huynh, Phuc; Nguyen, Trang; Duong, Thanh; Pham, Duc - In: Economies : open access journal 5 (2017) 1, pp. 1-18
The global financial crisis of 2007-2008 had a negative impact on many countries, including Vietnam. Many policies have been applied to stabilize the macro-economic indicators. However, most of them are based on old qualitative models, which do not help policy makers understand deeply how each...
Persistent link: https://www.econbiz.de/10011610450
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Analysis of various shocks within the high-frequency versions of the baseline New-Keynesian model
Sacht, Stephen - 2014
In this paper we analyze a hybrid small-scale New-Keynesian model with an arbitrary frequency of the agents' synchronized decision making. We study the impact of various demand and supply shocks on the dynamics of the model variables. We show that the corresponding impulse-response functions of...
Persistent link: https://www.econbiz.de/10010330304
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Leaning against the wind policies on Vietnam's economy with DSGE model
Huynh, Phuc; Nguyen, Trang; Duong, Thanh; Pham, Duc - In: Economies 5 (2017) 1, pp. 1-18
The global financial crisis of 2007-2008 had a negative impact on many countries, including Vietnam. Many policies have been applied to stabilize the macro-economic indicators. However, most of them are based on old qualitative models, which do not help policy makers understand deeply how each...
Persistent link: https://www.econbiz.de/10011708742