Understanding monetary policy in Central European countries using Taylor-type rules: the case of the Visegrad four
This 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.
Volume (Year): 5 (2007)
Issue (Month): 3 ()
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- Leitemo, Kai & Soderstrom, Ulf, 2005.
"Simple monetary policy rules and exchange rate uncertainty,"
Journal of International Money and Finance,
Elsevier, vol. 24(3), pages 481-507, April.
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- repec:ebl:ecbull:v:5:y:2005:i:7:p:1-16 is not listed on IDEAS Full references (including those not matched with items on IDEAS)