Introducing Financial Stability to Monetary Policy: a FAVAR approach
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F17%3A86099261" target="_blank" >RIV/61989100:27510/17:86099261 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
Introducing Financial Stability to Monetary Policy: a FAVAR approach
Original language description
The issue of using monetary policy for financial stability purposes is hotly contested. The world financial and economic crisis has highlighted the interconnectedness of economic policies and a new debate began on their impact on financial stability. The crisis was, among other, a reminder that price stability is not sufficient condition for financial stability and widely used New Keynesian Models do not stand so firmly nowadays. We address this issue by analyzing implications of monetary policies actions on financial stability in the Czech economy using factor-augmented vector autoregression approach (FAVAR). The main takeaway from our preliminary evidence is that higher interest rates have a negative effect on financial stability in the short run, but may have positive effects in the medium to long-run.
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
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OECD FORD branch
50202 - Applied Economics, Econometrics
Result continuities
Project
<a href="/en/project/GA16-13784S" target="_blank" >GA16-13784S: Financial sector policy and institutions: Current challenges in balancing financial development and stability</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)
Others
Publication year
2017
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
9th International Conference on Currency, Banking and International Finance : "Challenges for Financial Sector of CEE Countries in Overcoming Problems of Economic Integration in the EU"
ISBN
978-80-225-4362-0
ISSN
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e-ISSN
neuvedeno
Number of pages
9
Pages from-to
105-113
Publisher name
Ekonóm
Place of publication
Bratislava
Event location
Bratislava
Event date
Sep 20, 2016
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
000411851600014