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Exchange Rates and Monetary Measures

Author

Listed:
  • Evžen Koèenda
  • Juraj Valachy

Abstract

The paper analyzes the impact that certain administrative measures of monetary authorities have on exchange rates. Using the Perron test, the authors test for the existence of structural change in the development of exchange rates in Central and Eastern European countries. The dates when specific monetary measures were implemented were exogenously chosen as demonstrative dates of structural change. The results show that, in most cases, the authors were not able to reject the hypothesis of nonexistence of structural change. The authors conclude that instances of structural change occurred simultaneously with the implementation of monetary measures.

Suggested Citation

  • Evžen Koèenda & Juraj Valachy, 2000. "Exchange Rates and Monetary Measures," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 50(9), pages 503-511, September.
    • Handle: RePEc:fau:fauart:v:50:y:2000:i:9:p:503-511
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    File URL: http://journal.fsv.cuni.cz/mag/article/show/id/612
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    More about this item

    Keywords

    exchange rate; structural change; monetary policy; transition;
    All these keywords.

    JEL classification:

    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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