Monetárna politika a vývoj kurzu v Slovenskej republike v období 1999 – 2005
Monetary Policy and the Development of the Exchange Rate in Slovak Republic in 1999 – 2005

Summary/Abstract: Systematic appreciation of the Slovak Crown in the year 2004, 2005 and at the beginning of the year 2006 brings up the debate about objectivity of this process. In this paper we describe the development of the Slovak currency on the basis of selected macroeconomic indicators’ development (gross domestic product, M2, foreign currency reserve, direct foreign investment, interest rates BRIBOR and EURIBOR, etc.), and it is possible to observe, that the appreciation of the Slovak Crown is valid. The estimation of the economic hypothesis was realized after the analysis of the stationarity of the used time series. We have chosen nine of the many formulations of the simple econometric models, those estimators are the best linear unbiased estimators of the parameters of the for-mulated economic hypothesis.

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