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Statements

Subject Item

n2:RIV%2F62156489%3A43110%2F09%3A00139876%21RIV10-MSM-43110___

rdf:type

skos:Concept n17:Vysledek

dcterms:description

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 postulate money 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 %22Taylor rule%22 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 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 postulate money 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 %22Taylor rule%22 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

dcterms:title

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

skos:prefLabel

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

skos:notation

RIV/62156489:43110/09:00139876!RIV10-MSM-43110___

n3:aktivita

n13:Z

n3:aktivity

Z(MSM6215648904)

n3:cisloPeriodika

7

n3:dodaniDat

n11:2010

n3:domaciTvurceVysledku

n15:6099890 n15:2712458

n3:druhVysledku

n4:J

n3:duvernostUdaju

n12:S

n3:entitaPredkladatele

n9:predkladatel

n3:idSjednocenehoVysledku

320005

n3:idVysledku

RIV/62156489:43110/09:00139876

n3:jazykVysledku

n18:eng

n3:klicovaSlova

Taylor rule; exogenous and endogenous money; transmission mechanism

n3:klicoveSlovo

n5:transmission%20mechanism n5:exogenous%20and%20endogenous%20money n5:Taylor%20rule

n3:kodStatuVydavatele

CZ - Česká republika

n3:kontrolniKodProRIV

[9F15FF763206]

n3:nazevZdroje

Agricultural economics : Zemědělská ekonomika

n3:obor

n6:BB

n3:pocetDomacichTvurcuVysledku

2

n3:pocetTvurcuVysledku

2

n3:rokUplatneniVysledku

n11:2009

n3:svazekPeriodika

55

n3:tvurceVysledku

Kapounek, Svatopluk Poměnková, Jitka

n3:zamer

n16:MSM6215648904

s:issn

0139-570X

s:numberOfPages

10

n10:organizacniJednotka

43110