Monetary Policy Transmission in the Balkans in the 21st Century: Empirical Evidence (CROSBI ID 190542)
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Podaci o odgovornosti
Šimić, Vladimir ; and Malešević-Perović, Lena
engleski
Monetary Policy Transmission in the Balkans in the 21st Century: Empirical Evidence
This study investigates monetary policy transmission in the Balkans in the 21st century. In order to analyse the reaction of output and prices to a shock in monetary policy (defined as an increase in the interest rate) this study employs structural vector autoregression approach. The obtained impulse responses suggest that monetary policy in the six Balkan countries under investigation is not effective in influencing output and prices, which points towards a very limited use of monetary policy in the overall conduct of economic policy.
Balkan countries; structural vector autoregression; transmission mechanism
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Podaci o izdanju
Povezanost rada
Ekonomija