Monetary Policy Transmission in the Balkans in the 21st Century: Empirical Evidence

Vladimir, Šimić and Lena, Malešević-Perović (2012) Monetary Policy Transmission in the Balkans in the 21st Century: Empirical Evidence. Journal of Economic and Social Studies, 2 (2). ISSN 1986 – 8502

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Abstract

This study investigates monetary policy transmission in the Balkans in the 21st century. In order to analyse the reaction of output and prices to a shock in monetary policy (defined as an increase in the interest rate), this study employs structural vector auto regression approach. The obtained impulse responses suggest that monetary policy in the six Balkan countries under investigation is not effective in influencing output and prices, which points towards a very limited use of monetary policy in the overall conduct of economic policy.

Item Type: Article
Uncontrolled Keywords: Balkan countries, structural vector autoregression, transmission mechanism
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HB Economic Theory
H Social Sciences > HG Finance
Divisions: Faculty of Economics > Management Department
Depositing User: Users 173 not found.
Date Deposited: 08 Feb 2013 09:04
Last Modified: 08 Feb 2013 09:04
URI: http://eprints.ibu.edu.ba/id/eprint/1386

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