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The Monetary Transmission in the Selected CEE Countries

Author

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  • Eliška Horká

    (Mendel University, the Czech Republic)

Abstract

The paper evaluates similarity of transmission mechanisms of the CEE countries and the Euro zone. Comparison of transmission mechanisms is conducted using VAR model and impulse response functions of main economic variables to an unexpected monetary policy tightening. An unexpected rise in interest rates is followed by a fall in output, other reactions usually differ for CEECs and the Euro zone members. The price puzzle still occurs in the CEE economies. Different reactions are reason for careful consideration of the Euro adoption.

Suggested Citation

  • Eliška Horká, 2015. "The Monetary Transmission in the Selected CEE Countries," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 449-452, May.
    • Handle: RePEc:ovi:oviste:v:xv:y:2015:i:2:p:449-452
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    More about this item

    Keywords

    monetary policy; transmission mechanism; VAR model; impulse response;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications

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