Did the Exchange Rate Floor Prevent Deflation in the Czech Republic is popular PDF and ePub book, written by Francesca G Caselli in 2017-09-20, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Did the Exchange Rate Floor Prevent Deflation in the Czech Republic can be Read Online from any device for your convenience.
Did the Exchange Rate Floor Prevent Deflation in the Czech Republic Book PDF Summary
To fight deflationary pressures at the zero lower bound, in November 2013, the Czech National Bank (CNB) introduced a one-sided floor on the exchange rate, as an additional monetary policy instrument. This paper investigates the impact of the FX floor on inflation in the Czech Republic, by comparing actual inflation with counterfactuals in the absence of the exchange rate floor. Three different empirical strategies are implemented: an event study, difference-in-difference regressions and a synthetic control method. The empirical results provide evidence that the exchange rate floor was effective in fighting deflationary pressures and prevented inflation from going into negative territory. The magnitude of the effect ranges between 0.5 to 1.5 percentage points. The results are robust to different econometric specifications.
Detail Book of Did the Exchange Rate Floor Prevent Deflation in the Czech Republic PDF
- Author : Francesca G Caselli
- Release : 20 September 2017
- Publisher : International Monetary Fund
- ISBN : 9781484320365
- Genre : Business & Economics
- Total Page : 30 pages
- Language : English
- PDF File Size : 14,5 Mb
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