INTEREST RATE TRANSMISSION MECHANISM IN V4 COUNTRIES Cover Image

INTEREST RATE TRANSMISSION MECHANISM IN V4 COUNTRIES
INTEREST RATE TRANSMISSION MECHANISM IN V4 COUNTRIES

Author(s): Júlia Ďurčová, Ludmila Bartokova
Subject(s): Economy
Published by: Reprograph
Keywords: interest rate channel; monetary policy shock; V4 countries; VAR model

Summary/Abstract: The paper focuses on analysis of monetary policy transmission mechanism in V4 countries and EMU12. The aim of analysis is to verify the reaction of endogenous variables in case of monetary policy shocks with an emphasis on transmission through interest rate channel and its impact on inflation, nominal effective exchange rate and gross domestic product. The effects of interest rate shocks on selected variables were identified by estimating VAR model that uses Cholesky decomposition of innovations.

  • Issue Year: VIII/2013
  • Issue No: 26
  • Page Range: 426-443
  • Page Count: 18
  • Language: English