Exchange rate as a shock absorber in Poland and Slovakia: Evidence from Bayesian SVAR models with common serial correlation

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Exchange rate as a shock absorber in Poland and Slovakia: Evidence from Bayesian SVAR models with common serial correlation

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作者：Marek A. Dąbrowski^a ; ^{marek.dabrowski@uek.krakow.pl" class="auth_mail" title="E-mail the corresponding author} ; Justyna Wr&oacute ; blewska^b ; ^{eowroble@cyf-kr.edu.pl" class="auth_mail" title="E-mail the corresponding author}
关键词：Open economy macroeconomics ; Real exchange rate ; Shock absorption ; Monetary integration ; Bayesian structural VAR ; Common serial correlation
刊名：Economic Modelling
出版年：2016
出版时间：November 2016
年：2016
卷：58
期：Complete
页码：249-262
全文大小：1458 K

文摘

•: We examine sources of exchange rates fluctuations in Poland and Slovakia.
•: Bayesian VAR models with common serial correlation restrictions are employed.
•: Financial shocks are important drivers of exchange rates in Poland and Slovakia.
•: Output and exchange rate are under similar shocks in Poland and not in Slovakia.
•: Exchange rate flexibility in Poland contributed to the absorption of real shocks.

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