Understanding monetary policy in Central European countries using Taylor-type rules: the case of the Visegrad four
AbstractThis paper assesses to what extent simple Taylor-type monetary policy rules provide a good description of interest rate setting behaviour in the Visegrad four countries. Six different models are analysed, chosen on the basis of possessing desirable theoretical features. The paper finds that exchange rates feature prominently in three of the four countries' policy rules and that the results are sensitive to the measure of inflation used.
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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 5 (2007)
Issue (Month): 3 ()
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Monetary policy Interest rules inflation exchange rates;
Find related papers by JEL classification:
- E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
- E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
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