Monetary Policy Objectives During the Crisis: An Overview of Selected Southeast European Countries

Aneta Krstevska

Journal of Central Banking Theory and Practice, 2015, vol. 4, issue 1, 35-46

Abstract: The recent global crisis brought many challenges to the central bankers worldwide, including the issue of monetary policy objectives. In this view, besides price stability maintenance, a special attention by central bankers during the crisis was given to the output stabilization. This paper explores this issue on the case of a group of countries from Southeast Europe (SEE). For this purpose, rather simple analysis of the policy rate and output gap as well as output gap variability by countries have been provided, aimed at giving some initial insights of the monetary policy and output stabilization during the crisis. Our findings pointed that the central banks in the analysed SEE countries paid attention to the output stabilization, specifically during the crisis period and that was presumably enabled by controllable inflation developments.

Keywords: monetary policy; central banks; interest rates; output; crisis (search for similar items in EconPapers)
JEL-codes: E43 E52 O52 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://www.cbcg.me/repec/cbk/journl/vol4no1-3.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cbk:journl:v:4:y:2015:i:1:p:35-46

Access Statistics for this article

More articles in Journal of Central Banking Theory and Practice from Central bank of Montenegro Contact information at EDIRC.
Bibliographic data for series maintained by ().