hrcak mascot   Srce   HID

Original scientific paper

MONETARY SHOCKS AND REAL EXCHANGE RATE FLUCTUATIONS IN CEE COUNTRIES

Nataša Erjavec   ORCID icon orcid.org/0000-0002-0943-2198 ; Faculty of Economics and Business, University of Zagreb, Zagreb, Croatia
Boris Cota   ORCID icon orcid.org/0000-0002-1349-6880 ; Faculty of Economics and Business, University of Zagreb, Zagreb, Croatia
Saša Jakšić   ORCID icon orcid.org/0000-0003-4681-4280 ; Faculty of Economics and Business, University of Zagreb, Zagreb, Croatia

Fulltext: english, pdf (125 KB) pages 300-309 downloads: 520* cite
APA 6th Edition
Erjavec, N., Cota, B. & Jakšić, S. (2012). MONETARY SHOCKS AND REAL EXCHANGE RATE FLUCTUATIONS IN CEE COUNTRIES. Croatian Operational Research Review, 3 (1), 300-309. Retrieved from https://hrcak.srce.hr/96893
MLA 8th Edition
Erjavec, Nataša, et al. "MONETARY SHOCKS AND REAL EXCHANGE RATE FLUCTUATIONS IN CEE COUNTRIES." Croatian Operational Research Review, vol. 3, no. 1, 2012, pp. 300-309. https://hrcak.srce.hr/96893. Accessed 17 Oct. 2021.
Chicago 17th Edition
Erjavec, Nataša, Boris Cota and Saša Jakšić. "MONETARY SHOCKS AND REAL EXCHANGE RATE FLUCTUATIONS IN CEE COUNTRIES." Croatian Operational Research Review 3, no. 1 (2012): 300-309. https://hrcak.srce.hr/96893
Harvard
Erjavec, N., Cota, B., and Jakšić, S. (2012). 'MONETARY SHOCKS AND REAL EXCHANGE RATE FLUCTUATIONS IN CEE COUNTRIES', Croatian Operational Research Review, 3(1), pp. 300-309. Available at: https://hrcak.srce.hr/96893 (Accessed 17 October 2021)
Vancouver
Erjavec N, Cota B, Jakšić S. MONETARY SHOCKS AND REAL EXCHANGE RATE FLUCTUATIONS IN CEE COUNTRIES. Croatian Operational Research Review [Internet]. 2012 [cited 2021 October 17];3(1):300-309. Available from: https://hrcak.srce.hr/96893
IEEE
N. Erjavec, B. Cota and S. Jakšić, "MONETARY SHOCKS AND REAL EXCHANGE RATE FLUCTUATIONS IN CEE COUNTRIES", Croatian Operational Research Review, vol.3, no. 1, pp. 300-309, 2012. [Online]. Available: https://hrcak.srce.hr/96893. [Accessed: 17 October 2021]

Abstracts
The aim of this paper is to investigate the role of the exchange rate regime in absorbing macroeconomic shocks for a group of Central and East European countries (CEE). Whether the flexible exchange rate regime is beneficial for an economy depends on the capacity of the exchange rate to act as a shock absorber. An appropriate framework for assessing the role of the exchange rate is a structural vector autoregressive (SVAR) model. Impact of two types of macroeconomic shocks is estimated: nominal and real. The shocks are identified on the basis of Blanchard-Quah long run identification scheme which means that the restrictions are imposed on the long run responses while the short run dynamics is kept unrestricted. The importance of nominal and real shocks is assessed using the variance decomposition and the impulse response functions.

Keywords
SVAR; blanchard-quah decomposition; impulse response function; macroeconomic shocks

Hrčak ID: 96893

URI
https://hrcak.srce.hr/96893

Visits: 797 *