The Monetary Transmission in the Selected CEE Countries

Eliška Horká ()
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Eliška Horká: Mendel University, the Czech Republic

Ovidius University Annals, Economic Sciences Series, 2015, vol. XV, issue 2, 449-452

Abstract: The paper evaluates similarity of transmission mechanisms of the CEE countries and the Euro zone. Comparison of transmission mechanisms is conducted using VAR model and impulse response functions of main economic variables to an unexpected monetary policy tightening. An unexpected rise in interest rates is followed by a fall in output, other reactions usually differ for CEECs and the Euro zone members. The price puzzle still occurs in the CEE economies. Different reactions are reason for careful consideration of the Euro adoption.

Keywords: monetary policy; transmission mechanism; VAR model; impulse response (search for similar items in EconPapers)
JEL-codes: E37 E52 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xv:y:2015:i:2:p:449-452

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