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This paper begins with a description of simple select models of inflation and their ability to fit the data. The paper in turn measures the stability of particular parsimonious models. One-step forecast tests are applied, which establish the instability of the money demand model compared with...
Persistent link: https://www.econbiz.de/10008540713
This paper examines definitions and assessments of central bank aggressiveness. It shows theoretical reasons why there is certain minimal threshold value if CB wants to stabilize price level and on the other hand, why excessive reactions are suboptimal. The empirical part suggests that...
Persistent link: https://www.econbiz.de/10005103173
The article summarizes the main points discussed at the seminar on The Nobel Prize Laureates, 2003, held by the Czech Economic Association in March 2004. The seminar featured two main speakers: Josef Arlt (University of Economics, Prague, and Charles University, Prague), who lectured on the work...
Persistent link: https://www.econbiz.de/10008495635
financial time series. These methods are demonstrated on PX index time series during 2002-2009. The research itself is … characteristics that are able to signalize regime changes in certain time intervals. Particularly, the information related to intraday …
Persistent link: https://www.econbiz.de/10009019523
The article discusses the relationship between monetary policy and price of oil, in broader sense price of commodities. Firstly it focuses on describing the relationship of key macroeconomic variables, gas prices and other commodities against oil prices. Subsequently, it discusses the existence...
Persistent link: https://www.econbiz.de/10008876462
Bank repo rate. For this purpose we use the framework of expectation theory with the term premium and simple deterministic …
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