Czech paper evaluates monetary policy lags

cnb

Greater financial development is associated with the slower transmission of monetary policy, according to a working paper published by the Czech National Bank today (November 27).

The authors, Tomáš Havránek and Marek Rusnák, review 67 published studies on monetary transmission and examine the speed of the fall in prices following a contraction in monetary policy, and the depth to which they fall.

The average transmission lag is 29 months, the paper finds, while a 1 percentage point increase in

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: