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Monetary policy shocks in a two-sector open economy: an empirical study

Llaudes, Ricardo - 2007

This paper studies the effects and the transmission mechanism of unexpected monetary policy shocks in an open economy setting within the context of a VAR frame- work. It considers an economy with two sectors, a tradable sector and a non-tradable sector. For a given country, economic sectors are...

Persistent link: https://www.econbiz.de/10011604845

Characterising the inflation targeting regime in South Korea

Sánchez, Marcelo - 2009

set optimally. This allows us to obtain the central bank’s parameters in the policy objective function. During the IT … regime, the data support that the Bank of Korea pursued optimal policy geared towards achieving price stability, with the … degree of interest rate smoothing being estimated to be considerable. In addition, the central bank loss function is …

Persistent link: https://www.econbiz.de/10011605050

Monetary and macroprudential policy with foreign currency loans

Brzoza-Brzezina, Michał; Kolasa, Marcin; Makarski, … - 2015

In a number of countries a substantial proportion of mortgage loans is denominated in foreign currency. In this paper we demonstrate how their presence affects economic policy and agents' welfare. To this end we construct a small open economy model with housing loans denominated in domestic or...

Persistent link: https://www.econbiz.de/10011605828

Is Poland at risk of the zero lower bound?

Brzoza-Brzezina, Michał; Kolasa, Marcin; Szetela, Mateusz - In: Bank i kredyt 47 (2016) 3, pp. 195-226

Persistent link: https://www.econbiz.de/10011532645

How the central bank's reaction function in small open economies evolved during the crisis

Hałka, Aleksandra - In: Bank i kredyt 47 (2016) 4, pp. 301-318

Persistent link: https://www.econbiz.de/10011537573

Monetary approach to inflation: model of inflation in a small open economy and its application to the Czech Republic in the period 1996 - 2007

Mandel, Martin; Tomšík, Vladimír - In: Bank i kredyt 39 (2008) 10, pp. 6-13

Persistent link: https://www.econbiz.de/10003819461

Gospodarka polska w latach 1997 - 2006 widziana przez pryzmat modelu DSGE

Grabek, Grzegorz; Utzig-Lenarczyk, Grażyna - In: Bank i kredyt 40 (2009) 2, pp. 5-35

Persistent link: https://www.econbiz.de/10003878892

The Risky Steady State and the Interest Rate Lower Bound

Hills, Timothy - 2016

Even when the policy rate is not at the effective lower bound (ELB), the possibility that the policy rate will become constrained by the ELB in the future lowers today's inflation by creating tail risk in future inflation and thus reducing expected inflation. In an empirically rich model...

Persistent link: https://www.econbiz.de/10012988551

Monetary and Macroprudential Policy with Foreign Currency Loans

Brzoza-Brzezina, Michal - 2015

Persistent link: https://www.econbiz.de/10013020804

How far does monetary policy reach? : evidence from factor-augmented vector autoregressions for Poland

Kapuściński, Mariusz - In: Bank i kredyt 49 (2018) 3, pp. 191-216

Persistent link: https://www.econbiz.de/10012502632