Publication details
Příspěvek České národní banky ke stabilitě inflace, HDP a úrokové míry
| Title in English | Contribution of~the~Czech National Bank to stability of inflation, GDP and interest rate |
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| Authors | |
| Year of publication | 2008 |
| Type | Chapter of a book |
| MU Faculty or unit | |
| Citation | |
| Description | The subsection deals with estimation of the Czech National Bank's monetary policy preferences. Three objectives of the monetary policy are considered. They are inflation, GDP a nominal interest rate stability. Based on the results of the Bayesian estimation of the New Keynesian small open economy model, we find out, that the Czech National Bank cares a little about GDP stability. On the other hand, the most important objective of the Czech National Bank is inflation stability. This is in accordance with obligation stated in the Act on the Czech National Bank. |
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