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Monetary approach to inflation: A medium-term structural model in a small open economy (the case of the Czech Republic in 1996-2004)

Arlt, Josef; Kodera, Jan; Mandel, Martin; Tomšík, … - In: Politická ekonomie 2006 (2006) 3

The paper analyses a relationship between monetary aggregate M2 and inflation in a small open economy. The relationship … between monetary expansion and inflation as well as a dynamic of income velocity of money framework in a small open economy … money and tradables inflation in the case of the Czech small open economy is not found. The conclusions presented in the …

Persistent link: https://www.econbiz.de/10005036707

Non-linear "Tuning" of Frankel's Exchange Rate Model

Michl, Aleš - In: Acta Oeconomica Pragensia 2005 (2005) 1, pp. 70-81

In this essay I've demonstrated that there is evidence of unstable and non-linear relationship between fundamental variables and exchange rates. I have tried to "tune" Frankel's (1979) real interest differential model of exchange rate fluctuation. I have distinguished between Czech crown/Euro...

Persistent link: https://www.econbiz.de/10005036477

Implementation of monetary overhang/shortfall measure for indication of inflation risks (the approach of the European Central Bank)

Arlt, Josef; Guba, Milan; Radkovský, Štěpán - In: Politická ekonomie 2004 (2004) 2

The ECB concept of analysis of deviation of actual money stock development from its long run equilibrium development is based on the assumption that bigger deviation signalizes risks for the price stability. The ECB considers three measures of this deviation: nominal money gap, real money gap...

Persistent link: https://www.econbiz.de/10004963566

New-Keynesian model of inflation and its empirical verification

Arlt, Josef; Plašil, Miroslav; Horský, Richard - In: Politická ekonomie 2005 (2005) 1

New concepts have been presented in modelling of inflation dynamics recently, among others the New Keynesian Phillips … be considered as effective in conditions of the Czech Republic; this model does not describe the inflation process … sufficiently and it is not a suitable model for inflation prediction or for the choice of appropriate monetary (anti-inflation …

Persistent link: https://www.econbiz.de/10004963576

The model of unobservable components and its use for identification of time series common trends

Arlt, Josef; Pokorný, Petr - In: Politická ekonomie 2006 (2006) 1, pp. 48-55

gap transformations of real M2 and real GDP series can be used for identification of inflation risks. The relatively high … correlation was found between gap form of M2 and rate of inflation. The relationship between gap form of GDP and rate of inflation …

Persistent link: https://www.econbiz.de/10005036580

Money and inflation : lost cointegration

Michl, Aleš - In: Politická ekonomie : teorie, modelování, aplikace 67 (2019) 4, pp. 385-405

Persistent link: https://www.econbiz.de/10012101761