EconPapers    
Economics at your fingertips  
 

Estimation of weights for the Monetary Conditions Index in Poland

Andrzej Torój ()

No 27, Working Papers from Department of Applied Econometrics, Warsaw School of Economics

Abstract: In this paper, we follow the econometric approach to assess relative importance of real interest rate and real exchange rate for the monetary conditions in Poland, quantified as weights for Monetary Conditions Index (MCI). We consider both single- and multiple-equation specifications proposed in the literature with an application to Poland. Although MCI is nowadays broadly considered a rather obsolete indicator in monetary policy conduct, we argue that the econometric framework used for this purpose could be a good departure point when modelling monetary adjustments in a monetary union, provided correct dynamic specification of the models.

Keywords: Monetary Conditions Index; MCI-ratio; IS curve; Phillips curve; VAR. (search for similar items in EconPapers)
JEL-codes: C22 C32 E52 E59 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
Date: 2008-06-23
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed

Downloads: (external link)
http://kolegia.sgh.waw.pl/pl/KAE/struktura/IE/stru ... Papers/aewp06-08.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wse:wpaper:27

Access Statistics for this paper

More papers in Working Papers from Department of Applied Econometrics, Warsaw School of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Marcin Owczarczuk ().

 
Page updated 2019-10-11
Handle: RePEc:wse:wpaper:27