Challenges to Monetary Policy in the Czech Republic—An Integrated Monetary and Fiscal Analysis
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Summary:
This paper uses the Global Integrated Monetary and Fiscal Model (GIMF), a New Keynesian open-economy general equilibrium model suitable for an integrated evaluation of monetary and fiscal policies, to analyze monetary policy challenges facing the Czech Republic. In the context of the recent rising inflation pressures, we analyze how the authorities' fiscal reform package and the planned reduction in the inflation target in 2010 would weigh on the conduct of monetary policy.
Series:
Working Paper No. 2008/072
Subject:
Fiscal policy Inflation Inflation targeting Output gap Value-added tax
English
Publication Date:
March 1, 2008
ISBN/ISSN:
9781451869347/1018-5941
Stock No:
WPIEA2008072
Pages:
35
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