degree of economic activity if potential output growth is not changing much. However, in the case of the Czech economy, it …, but one has to consider the transition process of the Czech economy and the corresponding greater uncertainty in economic … Monopolistic Price Adjustment.” Review of Economic Studies 39, pp. 17–26. BARTH, M. J. AND V. A. RAMEY (2001): “The Cost Channel …

and the Czech Republic since the adoption of inflation targeting in these countries in 1999 and 1998, respectively …. -- monetary policy ; interventions ; inflation targeting ; friction model ; Brazil ; Czech Republic … Organisation for Economic Co-operation and Development, Paris, emails: luiz.demello@oecd.org (L. de Mello), diego …

WORKING PAPER No. 25/2008 Monetary Policy and Stability of Czech Economy: Optimal Commitment Policy in NOEM DSGE … Framework Adam Remo and Osvald Vašíˇcek November 2008 Working Papersof the Research Centre for Competitivenessof Czech Econ …: OptimalCommitmentPolicyinNOEMDSGEFrame- work Abstract: This article estimates the dynamic behavior of the Czech economy and pref- erences of the Czech …

up the banking system, together with the similarity of economic structures and the Czech economy’s considerable openness …. Christiano L. and Fitzgerald T. (2003), "The Band Pass Filter", International Economic Review, Vol. 44, No. 2, May, pp. 435 …-465. Croux C., Forni M. and Reichlin L. (2001), "A Measure of Comovement for Economic Variables: Theory and Empirics", Review of …

Roman Horváth* Czech National Bank and Institute of Economic Studies, Charles University ABSTRACT The paper … firm size (i.e., small firms). The results indicate that Czech firms paid higher interest rates during economic downturn … Financial Accelerator and Corporate Investment. Sveriges Riksbank Economic Review 2. Bernanke, B.S., and M. Gertler. 1989 …

the Czech Republic Roman Horváth* Czech National Bank and Institute of Economic Studies, Charles University THIS …, 1998. Monetary Policy Rules in Practice: Some International Evidence. European Economic Review 42, 1033-1067. Clarida …, 239-262. Orphanides, Athanasios 2001. Monetary Policy Rules Based on Real-Time Data. American Economic Review 91, 964 …

Economic Convergence WORKING PAPER SERIES Central Bank Losses and Economic Convergence Martin Cincibuch … Working Paper Series of the Czech National Bank (CNB) is intended to disseminate the results of the CNB’s research projects …. Printed and distributed by the Czech National Bank. Available at http …