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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

  • DOI - Digital Object Identifier

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

  • Czech description

Classification

  • Type

    D - Article in proceedings

  • CEP classification

  • 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 : &quot;Challenges for Financial Sector of CEE Countries in Overcoming Problems of Economic Integration in the EU&quot;

  • ISBN

    978-80-225-4362-0

  • ISSN

  • 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