Interest Rates and Prices Causality in the Czech Republic -- Granger Approach

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F09%3A00139876" target="_blank" >RIV/62156489:43110/09:00139876 - isvavai.cz</a>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Interest Rates and Prices Causality in the Czech Republic -- Granger Approach

Popis výsledku v původním jazyce

Monetary policy analysis concerns itself with both the assumptions of the transmission mechanism and the direction of causality between the nominal (i.e. the money) and real economy. The traditional channel of monetary policy implementation works via interest rate changes and their impact on the investment activity and the aggregate demand. Altering the relationship between the aggregate demand and supply then impacts the general price level and hence inflation. Alternatively, Post-Keynesians postulatemoney as a residual, In their approach, banks extend credit in response to movements in investment activities and demand for money. In this paper authors use the VAR (i.e. the vector autoregressive) approach applied to the "Taylor rule" concept to identify the mechanism and impact of the monetary policy in the small open post-transformation economy of the Czech Republic. The causality (in Granger sense) between the interest rate and prices in the Czech Republic is then identified. The

Název v anglickém jazyce

Interest Rates and Prices Causality in the Czech Republic -- Granger Approach

Popis výsledku anglicky

Monetary policy analysis concerns itself with both the assumptions of the transmission mechanism and the direction of causality between the nominal (i.e. the money) and real economy. The traditional channel of monetary policy implementation works via interest rate changes and their impact on the investment activity and the aggregate demand. Altering the relationship between the aggregate demand and supply then impacts the general price level and hence inflation. Alternatively, Post-Keynesians postulatemoney as a residual, In their approach, banks extend credit in response to movements in investment activities and demand for money. In this paper authors use the VAR (i.e. the vector autoregressive) approach applied to the "Taylor rule" concept to identify the mechanism and impact of the monetary policy in the small open post-transformation economy of the Czech Republic. The causality (in Granger sense) between the interest rate and prices in the Czech Republic is then identified. The

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

CEP obor

BB - Aplikovaná statistika, operační výzkum

OECD FORD obor

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Projekt

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Návaznosti

Z - Vyzkumny zamer (s odkazem do CEZ)

Rok uplatnění

2009

Kód důvěrnosti údajů

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

Název periodika

Agricultural economics : Zemědělská ekonomika

ISSN

0139-570X

e-ISSN

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Svazek periodika

55

Číslo periodika v rámci svazku

7

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

10

Strana od-do

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Kód UT WoS článku

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EID výsledku v databázi Scopus

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