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Challenges to Monetary Policy in the Czech Republic; L3794An Integrated Monetary and Fiscal Analysis

  • Sònia Muñoz
  • Céline Allard
Registered author(s):

    This paper uses the Global Integrated Monetary and Fiscal Model (GIMF), a New Keynesian open-economy general equilibrium model suitable for an integrated evaluation of monetary and fiscal policies, to analyze monetary policy challenges facing the Czech Republic. In the context of the recent rising inflation pressures, we analyze how the authorities' fiscal reform package and the planned reduction in the inflation target in 2010 would weigh on the conduct of monetary policy.

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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=21815
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    Paper provided by International Monetary Fund in its series IMF Working Papers with number 08/72.

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    Length: 35
    Date of creation: 01 Mar 2008
    Date of revision:
    Handle: RePEc:imf:imfwpa:08/72
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    1. Tamim Bayoumi & Douglas Laxton & Paolo Pesenti, 2004. "Benefits and Spillovers of Greater Competition in Europe: A Macroeconomic Assesment," NBER Working Papers 10416, National Bureau of Economic Research, Inc.
    2. Douglas Laxton & Michael Kumhof, 2007. "A Party without a Hangover?on the Effects of U.S. Government Deficits," IMF Working Papers 07/202, International Monetary Fund.
    3. Thomas Dalsgaard, 2008. "Tax and Welfare Reforms in the Czech Republic: Structural Implications and Challenges," IMF Working Papers 08/52, International Monetary Fund.
    4. Luc Everaert & Werner Schule, 2006. "Structural Reforms in the Euro Area: Economic Impact and Role of Synchronization Across Markets and Countries," IMF Working Papers 06/137, International Monetary Fund.
    5. Douglas Laxton & Paolo Pesenti, 2003. "Monetary Rules for Small, Open, Emerging Economies," NBER Working Papers 9568, National Bureau of Economic Research, Inc.
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