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  • This paper estimates a structural macroeconomic model using data for Macedonia and Slovakia to characterize possible challenges Macedonia can face concerning macroeconomic stabilization during its transition process. A comparison of the estimated model parameters suggests that, in Slovakia, the output gap is less sensitive to real interest rate movements and prices experience greater inertia. The estimated monetary policy reaction functions show Macedonia and Slovakia as inflation targeters, with Macedonia as the more conservative one, despite its officially applied exchange rate targeting regime.
  • This paper estimates a structural macroeconomic model using data for Macedonia and Slovakia to characterize possible challenges Macedonia can face concerning macroeconomic stabilization during its transition process. A comparison of the estimated model parameters suggests that, in Slovakia, the output gap is less sensitive to real interest rate movements and prices experience greater inertia. The estimated monetary policy reaction functions show Macedonia and Slovakia as inflation targeters, with Macedonia as the more conservative one, despite its officially applied exchange rate targeting regime. (en)
Title
  • Macroeconomic dynamics in Macedonia and Slovakia: Structural estimation and comparison
  • Macroeconomic dynamics in Macedonia and Slovakia: Structural estimation and comparison (en)
skos:prefLabel
  • Macroeconomic dynamics in Macedonia and Slovakia: Structural estimation and comparison
  • Macroeconomic dynamics in Macedonia and Slovakia: Structural estimation and comparison (en)
skos:notation
  • RIV/61989100:27510/12:86083659!RIV14-GA0-27510___
http://linked.open...avai/riv/aktivita
http://linked.open...avai/riv/aktivity
  • P(GA402/08/1015)
http://linked.open...iv/cisloPeriodika
  • 4
http://linked.open...vai/riv/dodaniDat
http://linked.open...aciTvurceVysledku
http://linked.open.../riv/druhVysledku
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http://linked.open...titaPredkladatele
http://linked.open...dnocenehoVysledku
  • 147692
http://linked.open...ai/riv/idVysledku
  • RIV/61989100:27510/12:86083659
http://linked.open...riv/jazykVysledku
http://linked.open.../riv/klicovaSlova
  • Structural open-economy model, Bayesian estimation, Eastern European transition economies (en)
http://linked.open.../riv/klicoveSlovo
http://linked.open...odStatuVydavatele
  • NL - Nizozemsko
http://linked.open...ontrolniKodProRIV
  • [6158FE5BC333]
http://linked.open...i/riv/nazevZdroje
  • Economic Modelling
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http://linked.open...ichTvurcuVysledku
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http://linked.open...UplatneniVysledku
http://linked.open...v/svazekPeriodika
  • 29
http://linked.open...iv/tvurceVysledku
  • Melecký, Martin
http://linked.open...ain/vavai/riv/wos
  • 000306299900046
issn
  • 0264-9993
number of pages
http://bibframe.org/vocab/doi
  • 10.1016/j.econmod.2012.02.021
http://localhost/t...ganizacniJednotka
  • 27510
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