hrcak mascot   Srce   HID

Croatian Operational Research Review, Vol. 1 No. 1, 2010.

Izvorni znanstveni članak

THE ANALYSIS OF MONETARY TRANSMISSION MECHANISM IN CROATIA USING COINTEGRATION APPROACH

Ksenija Dumičić   ORCID icon orcid.org/0000-0001-7131-9455 ; Faculty of Economics and Business, University of Zagreb, Zagreb, Croatia
Irena Čibarić ; Faculty of Economics and Business, University of Zagreb, Zagreb, Croatia
Nikolina Horvat ; Faculty of Economics and Business, University of Zagreb, Zagreb, Croatia

Puni tekst: engleski, pdf (248 KB) str. 210-220 preuzimanja: 902* citiraj
APA 6th Edition
Dumičić, K., Čibarić, I. i Horvat, N. (2010). THE ANALYSIS OF MONETARY TRANSMISSION MECHANISM IN CROATIA USING COINTEGRATION APPROACH. Croatian Operational Research Review, 1 (1), 210-220. Preuzeto s https://hrcak.srce.hr/94970
MLA 8th Edition
Dumičić, Ksenija, et al. "THE ANALYSIS OF MONETARY TRANSMISSION MECHANISM IN CROATIA USING COINTEGRATION APPROACH." Croatian Operational Research Review, vol. 1, br. 1, 2010, str. 210-220. https://hrcak.srce.hr/94970. Citirano 16.02.2019.
Chicago 17th Edition
Dumičić, Ksenija, Irena Čibarić i Nikolina Horvat. "THE ANALYSIS OF MONETARY TRANSMISSION MECHANISM IN CROATIA USING COINTEGRATION APPROACH." Croatian Operational Research Review 1, br. 1 (2010): 210-220. https://hrcak.srce.hr/94970
Harvard
Dumičić, K., Čibarić, I., i Horvat, N. (2010). 'THE ANALYSIS OF MONETARY TRANSMISSION MECHANISM IN CROATIA USING COINTEGRATION APPROACH', Croatian Operational Research Review, 1(1), str. 210-220. Preuzeto s: https://hrcak.srce.hr/94970 (Datum pristupa: 16.02.2019.)
Vancouver
Dumičić K, Čibarić I, Horvat N. THE ANALYSIS OF MONETARY TRANSMISSION MECHANISM IN CROATIA USING COINTEGRATION APPROACH. Croatian Operational Research Review [Internet]. 2010 [pristupljeno 16.02.2019.];1(1):210-220. Dostupno na: https://hrcak.srce.hr/94970
IEEE
K. Dumičić, I. Čibarić i N. Horvat, "THE ANALYSIS OF MONETARY TRANSMISSION MECHANISM IN CROATIA USING COINTEGRATION APPROACH", Croatian Operational Research Review, vol.1, br. 1, str. 210-220, 2010. [Online]. Dostupno na: https://hrcak.srce.hr/94970. [Citirano: 16.02.2019.]

Sažetak
In this paper, authors analyze monetary transmission in Croatia from 1998 to 2009 including the impact of euro area income using cointegration approach. Direct channel, interest rate channel and exchange rate channel are discussed. The analysis of interest rate, exchange rate, money supply, income in Croatia as well as euro area income time series is conducted. ADF tests show the stationarity of time series in first differences, thus cointegration approach is used to examine effects of mentioned variables on Croatian income. Cointegrating relations are found among selected variables and income. The innovation analysis, i.e. variance decomposition and impulse response function analysis is done. Cointegration analysis has shown that mentioned monetary transmission channels are significant in the long run, as well as the effect of euro area income on Croatian income. The article concludes by the comparison of monetary transmission in Croatia with empirical findings and theoretical background.

Ključne riječi
cointegration approach; innovation analysis; monetary transmission; euro area impact

Hrčak ID: 94970

URI
https://hrcak.srce.hr/94970

Posjeta: 1.078 *