Ghent University Academic Bibliography

Advanced

Monetary Policy Rules in Central and Eastern European Countries: Does the Exchange Rate Matter?

Michael Frömmel UGent, Garo Garabedian UGent and Franziska Schobert (2009) Faculteit Economie en Bedrijfskunde Working Papers. 2009(611).
abstract
We estimate monetary policy rules for six central and eastern European countries (CEEC) during the period, when they prepared for membership to the EU and monetary union. By taking changes in the policy settings explicitly into account and by introducing several new methodological features we significantly improve estimation results for monetary policy rules in CEEC. We find that in the Czech Republic, Hungary and Poland the focus of the interest rate setting behaviour switched from defending the peg to targeting inflation. For Slovakia, however, there still seemed to be on ongoing focus on the exchange rate. For Slovenia and only after a policy switch for Romania we find a solid relation with inflation as well.
Please use this url to cite or link to this publication:
author
organization
year
type
misc (report)
publication status
published
subject
keyword
CEEC, inflation targeting, transition economies, monetary policy, Taylor rules
in
Faculteit Economie en Bedrijfskunde Working Papers
volume
2009
issue
611
pages
27 pages
publisher
Universiteit Gent, Faculteit Economie en Bedrijfskunde
place of publication
Gent
ISSN
N/A
language
English
UGent publication?
yes
classification
V
copyright statement
I have retained and own the full copyright for this publication
id
760544
handle
http://hdl.handle.net/1854/LU-760544
date created
2009-10-05 13:46:25
date last changed
2009-10-09 10:17:29
@misc{760544,
  abstract     = {We estimate monetary policy rules for six central and eastern European countries (CEEC) during the period, when they prepared for membership to the EU and monetary union. By taking changes in the policy settings explicitly into account and by introducing several new methodological features we significantly improve estimation results for monetary policy rules in CEEC. We find that in the Czech Republic, Hungary and Poland the focus of the interest rate setting behaviour switched from defending the peg to targeting inflation. For Slovakia, however, there still seemed to be on ongoing focus on the exchange rate. For Slovenia and only after a policy switch for Romania we find a solid relation with inflation as well.},
  author       = {Fr{\"o}mmel, Michael and Garabedian, Garo and Schobert, Franziska},
  issn         = {N/A},
  keyword      = {CEEC,inflation targeting,transition economies,monetary policy,Taylor rules},
  language     = {eng},
  number       = {611},
  pages        = {27},
  publisher    = {Universiteit Gent, Faculteit Economie en Bedrijfskunde},
  series       = {Faculteit Economie en Bedrijfskunde Working Papers},
  title        = {Monetary Policy Rules in Central and Eastern European Countries: Does the Exchange Rate Matter?},
  volume       = {2009},
  year         = {2009},
}

Chicago
Frömmel, Michael, Garo Garabedian, and Franziska Schobert. 2009. “Monetary Policy Rules in Central and Eastern European Countries: Does the Exchange Rate Matter?” Faculteit Economie En Bedrijfskunde Working Papers. Gent: Universiteit Gent, Faculteit Economie en Bedrijfskunde.
APA
Frömmel, M., Garabedian, G., & Schobert, F. (2009). Monetary Policy Rules in Central and Eastern European Countries: Does the Exchange Rate Matter? Faculteit Economie en Bedrijfskunde Working Papers. Gent: Universiteit Gent, Faculteit Economie en Bedrijfskunde.
Vancouver
1.
Frömmel M, Garabedian G, Schobert F. Monetary Policy Rules in Central and Eastern European Countries: Does the Exchange Rate Matter? Faculteit Economie en Bedrijfskunde Working Papers. Gent: Universiteit Gent, Faculteit Economie en Bedrijfskunde; 2009.
MLA
Frömmel, Michael, Garo Garabedian, and Franziska Schobert. “Monetary Policy Rules in Central and Eastern European Countries: Does the Exchange Rate Matter?” Faculteit Economie en Bedrijfskunde Working Papers 2009 : n. pag. Print.