Monetary Regimes and External Shocks Reaction: Empirical Investigations on Eastern European Economies
In the late 90's, after severe financial crisis, accompanied by inflation and exchange rate instability, Eastern Europe emerged into two radically contrasting monetary regimes (Currency Boards and Inflation targeting). The task of our study is to compare econometrically the performance of these...
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| Format: | Article |
| Language: | English |
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Editura ASE Bucuresti
2017-12-01
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| Series: | Romanian Economic Journal |
| Subjects: | |
| Online Access: | http://www.rejournal.eu/sites/rejournal.versatech.ro/files/articole/2017-12-27/3491/4-khan.pdf |
| _version_ | 1818995532861800448 |
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| author | Muhammad Khan Nikolay Nenovsky |
| author_facet | Muhammad Khan Nikolay Nenovsky |
| author_sort | Muhammad Khan |
| collection | DOAJ |
| description | In the late 90's, after severe financial crisis, accompanied by inflation and exchange rate instability, Eastern Europe emerged into two radically contrasting monetary regimes (Currency Boards and Inflation targeting). The task of our study is to compare econometrically the performance of these two regimes in terms of their resilience to the external real and nominal shocks, coming from Euro area. In other words, we test the non-neutrality of exchange rate regimes with respect to these connections. Our PVAR model results reveal that the choice of monetary regimes indeed determines the ability of a country to absorb the external shocks. |
| first_indexed | 2024-12-20T21:15:21Z |
| format | Article |
| id | doaj.art-a6c5ea0cbeb24c458ec6d50fa24a3ee4 |
| institution | Directory Open Access Journal |
| issn | 1454-4296 2286-2056 |
| language | English |
| last_indexed | 2024-12-20T21:15:21Z |
| publishDate | 2017-12-01 |
| publisher | Editura ASE Bucuresti |
| record_format | Article |
| series | Romanian Economic Journal |
| spelling | doaj.art-a6c5ea0cbeb24c458ec6d50fa24a3ee42022-12-21T19:26:26ZengEditura ASE BucurestiRomanian Economic Journal1454-42962286-20562017-12-01XX666381Monetary Regimes and External Shocks Reaction: Empirical Investigations on Eastern European EconomiesMuhammad Khan Nikolay Nenovsky0CRIISEA, University of Amiens, France, e-mail: nenovsky@gmail.comIn the late 90's, after severe financial crisis, accompanied by inflation and exchange rate instability, Eastern Europe emerged into two radically contrasting monetary regimes (Currency Boards and Inflation targeting). The task of our study is to compare econometrically the performance of these two regimes in terms of their resilience to the external real and nominal shocks, coming from Euro area. In other words, we test the non-neutrality of exchange rate regimes with respect to these connections. Our PVAR model results reveal that the choice of monetary regimes indeed determines the ability of a country to absorb the external shocks.http://www.rejournal.eu/sites/rejournal.versatech.ro/files/articole/2017-12-27/3491/4-khan.pdfGDP GrowthInterest ratemonetary regimesEastern Europe |
| spellingShingle | Muhammad Khan Nikolay Nenovsky Monetary Regimes and External Shocks Reaction: Empirical Investigations on Eastern European Economies Romanian Economic Journal GDP Growth Interest rate monetary regimes Eastern Europe |
| title | Monetary Regimes and External Shocks Reaction: Empirical Investigations on Eastern European Economies |
| title_full | Monetary Regimes and External Shocks Reaction: Empirical Investigations on Eastern European Economies |
| title_fullStr | Monetary Regimes and External Shocks Reaction: Empirical Investigations on Eastern European Economies |
| title_full_unstemmed | Monetary Regimes and External Shocks Reaction: Empirical Investigations on Eastern European Economies |
| title_short | Monetary Regimes and External Shocks Reaction: Empirical Investigations on Eastern European Economies |
| title_sort | monetary regimes and external shocks reaction empirical investigations on eastern european economies |
| topic | GDP Growth Interest rate monetary regimes Eastern Europe |
| url | http://www.rejournal.eu/sites/rejournal.versatech.ro/files/articole/2017-12-27/3491/4-khan.pdf |
| work_keys_str_mv | AT muhammadkhan monetaryregimesandexternalshocksreactionempiricalinvestigationsoneasterneuropeaneconomies AT nikolaynenovsky monetaryregimesandexternalshocksreactionempiricalinvestigationsoneasterneuropeaneconomies |