This paper investigates the determinants of the sacrifice ratio in the OECD economies using a quantile regression framework. We show that the relationship is characterised by asymmetries that standard approaches are unable to capture.

This paper assesses to what extent simple Taylor-type monetary policy rules provide a good description of interest rate setting behaviour in the Visegrad four countries. Six different models are analysed, chosen on the basis of possessing desirable theoretical features. The paper finds that...

This paper assesses to what extent simple Taylor-type monetary policy rules provide a good description of interest rate setting behaviour in the Visegrad four countries. Six different models are analysed, chosen on the basis of possessing desirable theoretical features. The paper finds that...