Systematická složka měnové politiky ČNB v režimu cílování inflace

Systematic part of CNB's monetary policy in inflation targeting regime

David Navratil ()

Politická ekonomie, 2004, vol. 2004, issue 5, 623-636

Abstract: In the inflation targeting regime the central bank makes a decision about interest rate adjustment based on a forecast, primarily of inflation. Thus a big part of the decisions on interest rate adjustments corresponds to systematic response of central bank to expected economic development. The systematic part of monetary policy - the decision pattern of central bank (similarly as behaviour of other economic agents) must be approximated for purposes of creating a forecast. The aim of this article is to approximate it through estimated monetary policy rule.

Keywords: monetary policy rule; systematic monetary policy (search for similar items in EconPapers)
JEL-codes: E40 E43 E50 (search for similar items in EconPapers)
Date: 2004
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DOI: 10.18267/j.polek.479

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