INTEREST RATE TRANSMISSION MECHANISM IN V4 COUNTRIES
INTEREST RATE TRANSMISSION MECHANISM IN V4 COUNTRIES
Author(s): Júlia Ďurčová, Ludmila BartokovaSubject(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.
Journal: Journal of Applied Economic Sciences (JAES)
- Issue Year: VIII/2013
- Issue No: 26
- Page Range: 426-443
- Page Count: 18
- Language: English
