Monetary Policy in Central and Eastern Europe: The Case for Direct Inflation Targeting

2002 ◽  
pp. 191-202
Author(s):  
Ryszard Kokoszczyński
Keyword(s):  
Monetary Policy ◽  
Eastern Europe ◽  
Inflation Targeting ◽  
Central And Eastern Europe

scholarly journals MONETARY POLICY BEFORE AND AFTER THE FINANCIAL CRISIS. EVIDENCE FROM INFLATION TARGETING COUNTRIES IN CENTRAL AND EASTERN EUROPE

2017 ◽  
Author(s):  
Ioana Plescau
Keyword(s):  
Monetary Policy ◽  
Comparative Analysis ◽  
Financial Crisis ◽  
Eastern Europe ◽  
Inflation Targeting ◽  
Central And Eastern Europe ◽  
Central Banks ◽  
Review Of The Literature ◽  
Before And After ◽  
The 2008 Financial Crisis

The aim of our study is to review the monetary framework and instruments adopted by the inflation-targeting countries in Central and Eastern Europe, from 2005-ownwards. We employ a qualitative approach and develop a comparative analysis of the changes that occurred in the conduct of monetary policy after the 2008 financial crisis. The results highlight that the central banks in our sample have adjusted their policy in order to counteract the effects of the financial crisis and adopt different instruments to fulfill this aim. The contribution of our study is twofold. First, we offer a review of the literature regarding the adjustments in the monetary policy after the crisis and their effectiveness. Second, we make a comparative analysis between countries with respect to the path of monetary policy from conventional to unconventional and assess the (potential) way back.

scholarly journals Inflation targeting at the crossroads: Evidence from post-communist economies during the crisis

2014 ◽  
Vol 47 (2) ◽  
pp. 247-260 ◽  
Author(s):  
Marjan Petreski
Keyword(s):  
Eastern Europe ◽  
Economic Crisis ◽  
Inflation Targeting ◽  
Central And Eastern Europe ◽  
Output Growth ◽  
Lower Amount ◽  
Percentage Points ◽  
Growth Decline ◽  
Independent States

The objective of this paper is to assess if inflation targeting post-communist economies performed better, in terms of output growth, during the crisis than their non-inflation targeting counterparts. The paper also puts the issue in the context of the preconditions of inflation targeters to adopt this regime. 26 post-communist economies of Central and Eastern Europe and the Commonwealth of Independent States are analyzed during the ongoing economic crisis. Results suggest that inflation targeters of those countries performed worse than non-inflation targeters. The growth decline in inflation targeters postcommunist economies has been estimated to be deeper by about four percentage points than that in non-inflation targeters. The study finds very limited role of the preconditions for growth decline. Only the lower amount of monetary financing of the budget may have contributed in inflation-targeting countries to have gone through the crisis better.

scholarly journals “Digital transformation leads to new jobs creation with higher wages.” = Interview with Boris Vujčić, Governor, Croatian National Bank

2021 ◽  
Vol 16 (1) ◽  
pp. 5-7
Author(s):  
Tamás Pesuth
Keyword(s):  
Monetary Policy ◽  
Economic Policy ◽  
Eastern Europe ◽  
Central And Eastern Europe ◽  
Digital Transformation ◽  
International Monetary Policy ◽  
National Bank ◽  
New Jobs

This year the Lamfalussy Award was received by Boris Vujčić, Governor of the Croatian National Bank. The Lamfalussy Award, established by the National Bank of Hungary is dedicated to recognise exceptional international achievements influencing international monetary policy. We are honored to be able to conduct the following interview with Governor Vujčić, that can help us to better understand the economic policy and thinking in our region, in Central and Eastern Europe.

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