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Challenges to Monetary Policy in the Czech Republic—An Integrated Monetary and Fiscal Analysis
Author:
Ms. Sònia Muñoz null

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Céline Allard
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Series:
IMF Working Papers
Volume/Issue:
Volume 2008: Issue 072
Language:
English
Publication Date:
01 Mar 2008
DOI:
https://doi.org/10.5089/9781451869347.001
ISBN:
9781451869347
ISSN:
1018-5941
Pages:
35
Keywords:
WP; monetary policy; inflation target; monetary policy reaction
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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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.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund