scholarly journals Inflation Targeting and the Role of the Exchange Rate: The Case of the Czech Republic

2012 ◽  
Vol 5 (3) ◽  
Author(s):  
Yutaka Kurihara
Keyword(s):  
Exchange Rate ◽  
Czech Republic ◽  
Inflation Targeting ◽  
The Czech Republic ◽  
The Exchange Rate

scholarly journals Monetary and exchange rate regimes changes: The cases of Poland, Czech Republic, Slovakia and Republic of Serbia

2009 ◽  
Vol 56 (2) ◽  
pp. 199-226 ◽  
Author(s):  
Kosta Josifidis ◽  
Jean-Pierre Allegret ◽  
Emilija Beker-Pucar
Keyword(s):  
Exchange Rate ◽  
Czech Republic ◽  
Interest Rate ◽  
Transition Economies ◽  
Inflation Targeting ◽  
Exchange Rate Regimes ◽  
Flexible Exchange Rate ◽  
The Exchange Rate ◽  
The Republic ◽  
Pass Through

The paper explores (former) transition economies, Poland, Czech Republic, Slovakia and the Republic of Serbia, concerning abandonment of the exchange rate targeting and fixed exchange rate regimes and movement toward explicit/implicit inflation targeting and flexible exchange rate regimes. The paper identifies different subperiods concerning crucial monetary and exchange rate regimes, and tracks the changes of specific monetary transmission channels i.e. exchange rate channel, interest rate channel, indirect and direct influences to the exchange rate, with variance decomposition of VAR/VEC model. The empirical results indicate that Polish monetary strategy toward higher monetary and exchange rate flexibility has been performed smoothly, gradually and planned, compared to the Slovak and, especially, Czech case. The comparison of three former transition economies with the Serbian case indicate strong and persistent exchange rate pass-through, low interest rate pass-through, significant indirect and direct influence to the exchange rate as potential obstacles for successful inflation targeting in the Republic of Serbia.

The Role of the Exchange Rate in Inflation-Targeting Emerging Economies

2009 ◽  
Author(s):  
Anna Nordstrom ◽  
Scott Roger ◽  
Mark Stone ◽  
Seiichi Shimizu ◽  
Turgut Kisinbay ◽  
...  
Keyword(s):  
Exchange Rate ◽  
Emerging Economies ◽  
Inflation Targeting ◽  
The Exchange Rate

scholarly journals Frontiers of Monetary Policymaking: Adding the Exchange Rate as a Tool to Combat Deflationary Risks in the Czech Republic

2015 ◽  
Vol 15 (74) ◽  
pp. 1 ◽  
Author(s):  
Ali Alichi ◽  
Jaromir Benes ◽  
Joshua Felman ◽  
Irene Feng ◽  
Charles Freedman ◽  
...  
Keyword(s):  
Exchange Rate ◽  
Czech Republic ◽  
The Czech Republic ◽  
The Exchange Rate

On the Exchange Rate Policy

2010 ◽  
pp. 21-28
Author(s):  
K. Yudaeva
Keyword(s):  
Monetary Policy ◽  
Exchange Rate ◽  
Inflation Targeting ◽  
Exchange Rate Policy ◽  
Institutional Changes ◽  
Crisis Period ◽  
Local Currency ◽  
High Inflation ◽  
Rate Policy ◽  
The Exchange Rate

The level of trust in the local currency in Russia is very low largely because of relatively high inflation. As a result, Bank of Russia during crisis times can not afford monetary policy loosening and has to fight devaluation expectations. To change the situation in the post-crisis period Russia needs to live through a continuous period of low inflation. Modified inflation targeting can help achieve such a result. However, it should be amended with institutional changes, particularly development of hedging instruments.

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