Monetary and Fiscal Policies' Efficiency and the Determination of a Nominal Equilibrium Exchange Rate
Emil Stavrev ()
Czech Journal of Economics and Finance (Finance a uver), 2000, vol. 50, issue 9, 452-463
The author of this paper constructs a continuous time macro-econometric model of the Czech economy. The model is assembled as a system of twelve non-linear differential equations. The model is put into use to determine the nominal equilibrium exchange rate of the Czech koruna in a macro-economic framework. The paper also investigates the effectiveness of monetary and fiscal policies in the presence of a fixed exchange-rate regime and massive capital inflows. The search for an equilibrium point is outlined and stability and sensitivity analyses are provided, along with in-sample static and dynamic predictions with the approximate discrete analogue.
Keywords: macro-econometric model; nominal equilibrium exchange rate; effectiveness of monetary and fiscal policies (search for similar items in EconPapers)
JEL-codes: C51 C52 C53 E17 E50 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:fau:fauart:v:50:y:2000:i:9:p:452-463
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