Dublin Core
Title
Monetary Policy Transmission in the Balkans in the 21st Century: Empirical Evidence
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.
Keywords
Article
PeerReviewed
PeerReviewed
Publisher
International Burch University
Date
2012
Extent
1386