Pikhart, Zdeněk; Froňková, Pavla - In: Národohospodářský obzor : časopis věnovaný … 19 (2019) 4, pp. 231-248
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...