In this paper, we derive a small textbook New Keynesian DSGE model to evaluate Polish and Romanian business cycles during the 2003 - 2014 period. Given the similarities between the two economies, we use an identical calibration procedure for certain coefficients and marginal prior distributions...

In this paper, we derive a small textbook New Keynesian DSGE model to evaluate Polish and Romanian business cycles during the 2003 - 2014 period. Given the similarities between the two economies, we use an identical calibration procedure for certain coefficients and marginal prior distributions...

In this paper we employ a Panel Bayesian VAR model for a homogeneous group of Eastern European countries, namely Romania, Czech Republic, Hungary and Poland, in order to estimate the exchange rate pass-through coefficients to producer and consumer price indices (proxied by PPI and HICP...

The supremacy of Bayesian VAR models over the classical ones in terms of forecasting accuracy is well documented and generally accepted in the literature on the grounds of overcoming the short sample and overfitting problems. However, the record is rather limited in case of emerging economies,...

We present a newly developed Quarterly Projection Model (QPM) for Vietnam. This QPM represents an extended version of the canonical New Keynesian semi-structural model, accounting for Vietnam-specific factors, including a hybrid monetary policy framework. The model incorporates the array of...