Empirical evaluation of nominal convergence in Czech Republic, Poland and Hungary (CPH)

被引：0
|
作者：
Mamoudou, Toure [1 ]
Jamel, Trabelsi [1 ]
Frederic, Dufourt [1 ]
机构：
[1] Univ Strasbourg, F-67085 Strasbourg, France
来源：
ECONOMIC MODELLING | 2009年 / 26卷 / 05期
关键词：
CPH; Nominal convergence; Monetary policy shock; Structural VAR; EXCHANGE-RATE; MONETARY CONVERGENCE; POLICY; COUNTRIES; RULES;
D O I：
10.1016/j.econmod.2009.03.007
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We estimate a four variable structural vector auto regression (SVAR) model of the Czech Republic, Poland and Hungary economies in order to evaluate the links between the instruments of monetary policy and inflation outcomes. We find that the linkages between the interest rates and price levels are weak. However, the exchange rate constitutes the most important channel of monetary policy transmission for Poland and Hungary. For the Czech Republic, the link between interest rate rise and price level is rather indirect. (C) 2009 Elsevier B.V. All rights reserved.
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页码：993 / 999
页数：7
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