Exchange rate as a shock absorber in Poland and Slovakia: Evidence from Bayesian SVAR models with common serial correlation
详细信息 查看全文
- 作者：Marek A. Dąbrowskia ; marek.dabrowski@uek.krakow.pl" class="auth_mail" title="E-mail the corresponding author ; Justyna Wró ; blewskab ; 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.