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Vliv měnových podmínek na jednotlivé kategorie cen v České Republice v kontextu měnové a makroobezřetnostní politiky
[The Effect of Monetary Conditions on Individual Categories of Prices in the Czech Republic]

Author

Listed:
  • Lukáš Pfeifer
  • Zdeněk Pikhart

Abstract

The article deals with the theoretical issues of macro-prudential policy, the influence of risk channel of monetary policy on financial stability and the cooperation of macro-prudential and monetary policy, respectively the compatibility of the objectives of these policies. On the Czech economy data is therefore tested the relationship between monetary policy conditions and prices of selected categories. The model results open the door to greater use especially of the industrial producer price index, respectively its sub-indices, for the coordination of monetary and macro-prudential policy in the Czech Republic.

Suggested Citation

  • Lukáš Pfeifer & Zdeněk Pikhart, 2015. "Vliv měnových podmínek na jednotlivé kategorie cen v České Republice v kontextu měnové a makroobezřetnostní politiky [The Effect of Monetary Conditions on Individual Categories of Prices in the Cze," Politická ekonomie, Prague University of Economics and Business, vol. 2015(8), pages 948-966.
    • Handle: RePEc:prg:jnlpol:v:2015:y:2015:i:8:id:1046:p:948-966
    DOI: 10.18267/j.polek.1046
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    References listed on IDEAS

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    1. Helmut Lütkepohl, 2005. "New Introduction to Multiple Time Series Analysis," Springer Books, Springer, number 978-3-540-27752-1, September.
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    Cited by:

    1. Pikhart Zdeněk & Froňková Pavla, 2019. "Estimating Natural Rate of Interest and Equilibrium Exchange Rate: A Case of the Czech Republic," Review of Economic Perspectives, Sciendo, vol. 19(4), pages 231-248, December.

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    More about this item

    Keywords

    risk channel of monetary policy; monetary policy; macro-prudential policy; index of monetary conditions; impulse-response functions; financial stability;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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