کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
9553937 1375688 2005 19 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Monetary policy transmission, interest rate rules and inflation targeting in three transition countries
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Monetary policy transmission, interest rate rules and inflation targeting in three transition countries
چکیده انگلیسی
In 1991, the rate of inflation in the Czech Republic, Hungary and Poland was 57%, 35% and 70%. At the end of 2001, it was everywhere below 8%. We set up a small structural macro model of these three economies to account for the process of disinflation. We show that a simple macro model, with forward-looking inflation and exchange rate expectations, can adequately characterize the relationship between the output gap, inflation, the real interest rate and the exchange rate during this period. This model allows us to assess the relative importance of the interest rate and exchange rate channels in determining the path of disinflation.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Banking & Finance - Volume 29, Issue 1, January 2005, Pages 183-201
نویسندگان
, ,