2008/11/01 by Hakan Yilmazkuday · 1 voice
Economics, Econometrics and Finance · #Global Financial Crisis and Policies #Monetary Policy and Economic Impact
paper · doi:10.2753/ree1540-496x440606
openalex publication_date 2008/11/01 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/29
This paper investigates the relation between the important announced turning points in the monetary policies and the estimated structural break dates in the Taylor rules of three transition countries—the Czech Republic, Hungary, and Poland. Although the important announced turning points starting in the late 1990s, especially the introduction of an inflation-targeting regime, can be observed in the estimated Taylor rules of the Czech Republic and Poland with some implied lags due to the monetary transmission mechanism, the same conclusion cannot be reached for Hungary. Several robustness analyses are in support of these results.