Empirical evaluation of nominal convergence in Czech Republic, Poland and Hungary (CPH)

Toure Mamoudou, Trabelsi Jamel and Frédéric Dufourt

Economic Modelling, 2009, vol. 26, issue 5, 993-999

Abstract: We estimate a four variable structural vector auto regression (SVAR) model of the Czech Republic, Poland and Hungary economies in order to evaluate the links between the instruments of monetary policy and inflation outcomes. We find that the linkages between the interest rates and price levels are weak. However, the exchange rate constitutes the most important channel of monetary policy transmission for Poland and Hungary. For the Czech Republic, the link between interest rate rise and price level is rather indirect.

Keywords: CPH; Nominal; convergence; Monetary; policy; shock; Structural; VAR (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:26:y:2009:i:5:p:993-999

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