Open AccessInflation targeting and monetary policy rule of the czech national bank
Author(s) -
Helena Horská
Publication year - 2001
Publication title -
prague economic papers
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.233
H-Index - 17
eISSN - 2336-730X
pISSN - 1210-0455
DOI - 10.18267/j.pep.180
Subject(s) - czech , inflation targeting , monetary policy , inflation (cosmology) , national bank , context (archaeology) , convergence (economics) , economics , central bank , macroeconomics , european union , monetary economics , international economics , geography , philosophy , linguistics , physics , archaeology , theoretical physics
This paper deals with the inflation targeting regime in the Czech Republic. The study argues that inflation targeting is a monetary policy strategy that can be adopted by the central banks in more advanced transition economies. A dynamic model of inflation targeting in the Czech Republic is discussed in the context of achieving monetary convergence to the European Union. The specified monetary policy rule describes the basic features of the Czech National Bank's behaviour in the period March 1996 to June 2000.