Czech Economy under Foreign Exchange Intervention Regimes

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F19%3A00110811" target="_blank" >RIV/00216224:14560/19:00110811 - isvavai.cz</a>
Result on the web
<a href="https://mme2019.ef.jcu.cz/files/conference_proceedings.pdf" target="_blank" >https://mme2019.ef.jcu.cz/files/conference_proceedings.pdf</a>
DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Czech Economy under Foreign Exchange Intervention Regimes
Original language description
After the economic recession with continued monetary policy easing, many European central banks have been forced to implement unconventional monetary policy instruments. In the case of the Czech economy, depreciation of domestic currency on foreign exchange market has been employed while maintaining nominal exchange rate against euro no stronger than the announced level. In the submitted paper, we inspect the small open Czech economy under several intervention regimes within DSGE model with occasionally binding constraints (OBC). In particular, we examine commitment, managed floating and real exchange rate rule intervention regimes in the economy constrained by zero lower bound at the same time. We provide economic behaviour for individual foreign exchange interventions based on impulse responses framework. We present responses to positive as well as negative unanticipated shocks hitting the economy.
Czech name
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Czech description
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Publication year
2019
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
37th International Conference on Mathematical Methods in Economics 2019
ISBN
9788073947606
ISSN
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e-ISSN
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Number of pages
6
Pages from-to
380-385
Publisher name
Univerity of South Bohemia in České Budějovice, Faculty of Economics
Place of publication
České Budějovice
Event location
České Budějovice
Event date
Jan 1, 2019
Type of event by nationality
CST - Celostátní akce
UT code for WoS article
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