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Interest Rate Rules and Inflation Targeting in Three Transition Countries

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  • R. Golinelli
  • R. Rovelli

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Paper provided by Dipartimento Scienze Economiche, Universita' di Bologna in its series Working Papers with number 429.

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Date of creation: 2001
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Handle: RePEc:bol:bodewp:429

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References

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  1. Svensson, L.E.O., 1998. "Open-Economy Inflation Targeting," Papers, Stockholm - International Economic Studies 638, Stockholm - International Economic Studies.
  2. Davidson, James, 1998. "Structural relations, cointegration and identification: some simple results and their application," Journal of Econometrics, Elsevier, Elsevier, vol. 87(1), pages 87-113, August.
  3. Phillips, P.C.B., 1986. "Testing for a Unit Root in Time Series Regression," Cahiers de recherche, Universite de Montreal, Departement de sciences economiques 8633, Universite de Montreal, Departement de sciences economiques.
  4. Ng, S. & Perron, P., 1994. "Unit Root Tests ARMA Models with Data Dependent Methods for the Selection of the Truncation Lag," Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ 9423, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
  5. Buiter, Willem H, 1980. "The Macroeconomics of Dr. Pangloss: A Critical Survey of the New Classical Macroeconomics," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 90(357), pages 34-50, March.
  6. Bofinger, Peter & Wollmershauser, Timo, 2001. "Is there a third way to EMU for the EU accession countries?," Economic Systems, Elsevier, Elsevier, vol. 25(3), pages 253-274, September.
  7. Begg, David, 1998. "Pegging Out: Lessons from the Czech Exchange Rate Crisis," Journal of Comparative Economics, Elsevier, vol. 26(4), pages 669-690, December.
  8. Juselius, Katarina, 1992. "Domestic and foreign effects on prices in an open economy: The case of Denmark," Journal of Policy Modeling, Elsevier, Elsevier, vol. 14(4), pages 401-428, August.
  9. Bofinger, Peter & Wollmershäuser, Timo, 2000. "Monetary policy and exchange rate targeting in open economies," W.E.P. - Würzburg Economic Papers, University of Würzburg, Chair for Monetary Policy and International Economics 14, University of Würzburg, Chair for Monetary Policy and International Economics.
  10. Candelon, Bertrand & Lutkepohl, Helmut, 2001. "On the reliability of Chow-type tests for parameter constancy in multivariate dynamic models," Economics Letters, Elsevier, Elsevier, vol. 73(2), pages 155-160, November.
  11. Ray C. Fair & John B. Taylor, 1980. "Solution and Maximum Likelihood Estimation of Dynamic Nonlinear RationalExpectations Models," NBER Technical Working Papers, National Bureau of Economic Research, Inc 0005, National Bureau of Economic Research, Inc.
  12. Siklos, Pierre L. & Abel, Istvan, 2002. "Is Hungary ready for inflation targeting?," Economic Systems, Elsevier, Elsevier, vol. 26(4), pages 309-333, December.
  13. Ali M. Kutan & Josef C. Brada, 2000. "The evolution of monetary policy in transition economies," Review, Federal Reserve Bank of St. Louis, Federal Reserve Bank of St. Louis, issue Mar, pages 31-40.
  14. Roberto Golinelli & Riccardo Rovelli, 2002. "Painless disinflation? Monetary policy rules in Hungary, 1991-99," The Economics of Transition, The European Bank for Reconstruction and Development, The European Bank for Reconstruction and Development, vol. 10(1), pages 55-91, March.
  15. Goodfriend, Marvin, 1987. "Interest rate smoothing and price level trend-stationarity," Journal of Monetary Economics, Elsevier, Elsevier, vol. 19(3), pages 335-348, May.
  16. Lucas, Robert Jr, 1976. "Econometric policy evaluation: A critique," Carnegie-Rochester Conference Series on Public Policy, Elsevier, Elsevier, vol. 1(1), pages 19-46, January.
  17. Favero, Carlo A & Rovelli, Riccardo, 2003. " Macroeconomic Stability and the Preferences of the Fed: A Formal Analysis, 1961-98," Journal of Money, Credit and Banking, Blackwell Publishing, Blackwell Publishing, vol. 35(4), pages 545-56, August.
  18. von Hagen, Jurgen, 1999. "Money growth targeting by the Bundesbank," Journal of Monetary Economics, Elsevier, Elsevier, vol. 43(3), pages 681-701, June.
  19. Szapary, Gyorgy & Jakab, Zoltan M., 1998. "Exchange Rate Policy in Transition Economies: The Case of Hungary," Journal of Comparative Economics, Elsevier, vol. 26(4), pages 691-717, December.
  20. Johansen, Soren, 1995. "Likelihood-Based Inference in Cointegrated Vector Autoregressive Models," OUP Catalogue, Oxford University Press, Oxford University Press, number 9780198774501, October.
  21. Eduard Hochreiter & Riccardo Rovelli, 2002. "The generation and distribution of central bank seigniorage in the Czech Republic, Hungary and Poland," BNL Quarterly Review, Banca Nazionale del Lavoro, Banca Nazionale del Lavoro, vol. 55(223), pages 391-415.
  22. Taylor, John B. (ed.), 2001. "Monetary Policy Rules," National Bureau of Economic Research Books, University of Chicago Press, edition 1, number 9780226791258, 01-2013.
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Citations

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Cited by:
  1. Ila Patnaik & Ajay Shah & Rudrani Bhattacharya, 2011. "Monetary Policy Transmission in an Emerging Market Setting," IMF Working Papers, International Monetary Fund 11/5, International Monetary Fund.
  2. Andrew Hughes Hallett & Christian Richter, 2009. "Has there been any structural convergence in the transmission of European monetary policies?," International Economics and Economic Policy, Springer, Springer, vol. 6(2), pages 85-101, July.
  3. Eduard Hochreiter & Riccardo Rovelli, 2002. "The generation and distribution of central bank seigniorage in the Czech Republic, Hungary and Poland," BNL Quarterly Review, Banca Nazionale del Lavoro, Banca Nazionale del Lavoro, vol. 55(223), pages 391-415.
  4. Jelena Maravic & Mirjana Palic, 2005. "Econometric Analysis of Money Demand in Serbia," Working papers, National Bank of Serbia 2, National Bank of Serbia.
  5. Mamoudou, Toure & Jamel, Trabelsi & Frédéric, Dufourt, 2009. "Empirical evaluation of nominal convergence in Czech Republic, Poland and Hungary (CPH)," Economic Modelling, Elsevier, Elsevier, vol. 26(5), pages 993-999, September.
  6. M. Frömmel & G. Garabedian & F. Schobert, 2009. "Monetary Policy Rules in Central and Eastern European Countries: Does the Exchange Rate Matter?," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium, Ghent University, Faculty of Economics and Business Administration 09/611, Ghent University, Faculty of Economics and Business Administration.
  7. Jimborean, Ramona, 2009. "The role of banks in the monetary policy transmission in the new EU member states," Economic Systems, Elsevier, Elsevier, vol. 33(4), pages 360-375, December.
  8. Lucjan T Orlowski, 2005. "Monetary Convergence And Risk Premiums In The EU Candidate Countries," Macroeconomics, EconWPA 0501037, EconWPA.
  9. Lucjan Orlowski, 2003. "Monetary Convergence and Risk Premiums in the EU Accession Countries," Open Economies Review, Springer, Springer, vol. 14(3), pages 251-267, July.
  10. Abdul Karim, Zulkefly & Md. Said, Fathin Faezah & Jusoh, Mansor & Md. Thahir, Md. Zyadi, 2009. "Monetary policy and inflation targeting in a small open-economy," MPRA Paper 23949, University Library of Munich, Germany, revised 10 Jan 2010.
  11. Paresh Kumar Narayan & Seema Narayan & Sagarika Mishra & Russell Smyth, 2012. "An analysis of Fiji's monetary policy transmission," Studies in Economics and Finance, Emerald Group Publishing, Emerald Group Publishing, vol. 29(1), pages 52-70, March.
  12. Kosta Josifidis & Emilija Beker Pucar & Slađana Srdić & Gabriela Ivan, 2014. "Inflation Targeting in Advanced vs. Emerging Economies before and after the Crisis," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 61(1), pages 79-106, Februar.

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