The Influence of the World Economic Crisis to the Transition Economy’s Monetary Policy Rules

If the central banks of transition countries followed the certain monetary policy rules prior to the current world economic crisis, do they continue to keep them when situation changed? The generalized method of moments and Johansen test. In this article it is investigated the influence of the world economic crisis to the goals and the monetary policy rules of the central bank. The research is lead on the basis of a model that consist the equation for a target value of the monetary policy tool with expectations and the mechanism of partial correction.