Czech Economy under Foreign Exchange Intervention Regimes

Kód výsledku v 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>

Výsledek na webu

<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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Jazyk výsledku

angličtina

Název v původním jazyce

Czech Economy under Foreign Exchange Intervention Regimes

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

Czech Economy under Foreign Exchange Intervention Regimes

Popis výsledku anglicky

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.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2019

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

37th International Conference on Mathematical Methods in Economics 2019

ISBN

9788073947606

ISSN

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e-ISSN

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Počet stran výsledku

6

Strana od-do

380-385

Název nakladatele

Univerity of South Bohemia in České Budějovice, Faculty of Economics

Místo vydání

České Budějovice

Místo konání akce

České Budějovice

Datum konání akce

1. 1. 2019

Typ akce podle státní příslušnosti

CST - Celostátní akce

Kód UT WoS článku

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