Estimating natural rate of interest and equilibrium exchange rate: A case of the Czech Republic

Article deals with estimating real natural interest rate and exchange rate to construct monetary conditions index suitable for the Czech open economy. Despite unobservable characteristics of underlying interest rates and exchange rate, the importance of reference indicators for monetary policy is crucial. Proposed monetary condition index in gap form examines monetary impulse on economic and credit cycle in inflation targeting model.

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Year of publication:	2019
Authors:	Pikhart, Zdeněk ; Froňková, Pavla
Published in:	Review of Economic Perspectives. - Warsaw : De Gruyter, ISSN 1804-1663. - Vol. 19.2019, 4, p. 231-248
Publisher:	Warsaw : De Gruyter
Subject:	Natural Rate of Interest \| Equilibrium Exchange Rate \| Monetary Conditions Index

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Type of publication:	Article
Type of publication (narrower categories):	Article
Language:	English
Other identifiers:	10.2478/revecp-2019-0013 [DOI] 1687408017 [GVK] hdl:10419/227530 [Handle]
Classification:	D53 - Financial Markets ; E43 - Determination of Interest Rates; Term Structure Interest Rates ; F31 - Foreign Exchange
Source:	EconStor

Persistent link: https://www.econbiz.de/10012384128