Object

Title: The Macroeconomic Effects of the Taylor Rule Deviations in Central and Eastern European Countries

Title in english:

Efekty makroekonomiczne odchyleń od reguły Taylora w gospodarkach Europy Środkowej i Wschodniej

Creator:

Shevchuk, Viktor

Description:

Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu = Research Papers of Wrocław University of Economics; 2023; vol. 67, nr 4, s. 132-142

Abstrakt:

A standard Taylor rule was estimated for several Central and Eastern European (CEE) countries (Czechia, Hungary, Poland, Romania) based on quarterly data over the 2002-2021 period. The SVAR model indicates, for all CEE countries, that the level of central bank policy rate below the Taylor rule implied rate is caused by both output gap and inflation, with the Taylor rule deviations having heterogeneous effects on other endogenous variables. Among other results, the depreciation of the exchange rate is contractionary and inflationary, the output gap is inflationary (except for Romania), while inflationary effects on output are different across the CEE countries.

Publisher:

Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu

Place of publication:

Wrocław

Date:

2023

Resource Type:

artykuł

Resource Identifier:

doi:10.15611/pn.2023.4.12 ; oai:dbc.wroc.pl:125449

Language:

eng

Relation:

Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu = Research Papers of Wrocław University of Economics; 2023; vol. 67, nr 4

Rights:

Pewne prawa zastrzeżone na rzecz Autorów i Wydawcy

Access Rights:

Dla wszystkich zgodnie z licencją

License:

CC BY-SA

Location:

Uniwersytet Ekonomiczny we Wrocławiu

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