Monetary Policy Rules In Accession Countries to EU: Is the Taylor rule a pattern?

Ramón Maria-Dolores

Economics Bulletin, 2005, vol. 5, issue 7, 1-16

Abstract: I contemplate the Taylor rule as a benchmark for setting monetary policy in some Accession Countries to the EU in the 1998-2003 period. I find that countries with a floating exchange rate regime (the Czech Republic, Poland and Hungary) moved short-term interest rates as suggested by the Taylor rule and in a similar way the ECB is doing. On the other hand, the Taylor rule predicts worse interest rate behaviour in the Slovak Republic where inflation targeting is not adopted yet.

Keywords: inflation; targeting (search for similar items in EconPapers)
JEL-codes: C2 E5 (search for similar items in EconPapers)
Date: 2005-09-15
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Citations: View citations in EconPapers (18)

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