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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

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

Do Central Banks Respond to Exchange Rate Movements? A Markow-Switching Structural Investigation

Alstadheim, Ragna; Bjørnland, Hilde Christiane; Maih, … - Centre for Applied Macro- and Petroleum economics … - 2013

Persistent link: https://www.econbiz.de/10010936722

Do central banks respond to exchange rate movements? A Markov-switching structural investigation

Alstadheim, Ragna; Bjørnland, Hilde C.; Maih, Junior - Norges Bank - 2013

Persistent link: https://www.econbiz.de/10010787754

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

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