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Juan Paez-Farrell
 
''Understanding monetary policy in Central European countries using Taylor-type rules: the case of the Visegrad four''
( 2007, Vol. 5 No.3 )
 
 
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.
 
 
Keywords: Monetary policy Interest rules inflation exchange rates
JEL: E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit: General
E3 - Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data)
 
Manuscript Received : Nov 27 2006 Manuscript Accepted : Feb 19 2007

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