This paper examines time-varying policy neutral interest rate in real time for the Czech Republic in 2001:1-2006:09 estimating various specifications of simple Taylor-type monetary policy rules. For this reason, we apply a structural time-varying parameter model with endogenous regressors. The...

This paper examines (real-time) equilibrium interest rates in the Czech Republic in 2001:1-2005:12 estimating various specifications of simple Taylor-type monetary policy rules. First, we estimate it using GMM. Second, we apply structural time-varying coefficient model with endogenous regressors...

This paper examines policy neutral rate in real time for the Czech Republic in 2001:1-2006:09 estimating various specifications of simple Taylor-type monetary policy rules. First, we estimate it using GMM. Second, we apply a structural timevarying parameter model with endogenous regressors to...

This paper examines the time-varying policy neutral interest rate in real time for the Czech Republic in 2001:1--2006:09, estimating various specifications of simple Taylor-type monetary policy rules. For this reason, we apply a structural time-varying parameter model with endogenous regressors....

We examine whether and how selected central banks responded to episodes of financial stress over the last three decades. We employ a new monetary-policy rule estimation methodology which allows for time-varying response coefficients and corrects for endogeneity. This flexible framework applied...

We examine the evolution of monetary policy rules in a group of inflation targeting countries (Australia, Canada, New Zealand, Sweden and the United Kingdom) applying moment-based estimator at time-varying parameter model with endogenous regressors. Using this novel flexible framework, our main...

Confronted with a different macroeconomic and financial environment, the ECB and the Fed monetary stances seem to be more and more on diverging paths. While the Fed has stopped its quantitative easing (QE) operations and has recently decided to raise the target range for the federal funds rate,...

Confronted with a different macroeconomic and financial environment, the ECB and the Fed monetary stances seem to be more and more on diverging paths. While the Fed has stopped its quantitative easing (QE) operations and has recently decided to raise the target range for the federal funds rate,...