Structural Breaks in Monetary Policy Rules: Evidence from Transition Countries

17 Pages Posted: 21 Sep 2008 Last revised: 27 May 2010

See all articles by Hakan Yilmazkuday

Hakan Yilmazkuday

Florida International University (FIU) - Department of Economics

Date Written: September 1, 2008

Abstract

This paper investigates the relation between the important announced turning points in the monetary policies and the estimated structural break dates in the Taylor rules of three transition countries, namely the Czech Republic, Hungary and Poland. Although the important announced turning points starting from late 1990s, especially the introduction of inflation targeting regime, can be observed in the estimated Taylor rules of the Czech Republic and Poland with some implied lags due to the monetary tranmission mechanism, the same conclusion cannot be reached for Hungary. Several robustness analyses are in support of these results.

Keywords: Monetary Policy, Structural Breaks, Czech Republic, Hungary, Poland

JEL Classification: E31, E52, E58

Suggested Citation

Yilmazkuday, Hakan, Structural Breaks in Monetary Policy Rules: Evidence from Transition Countries (September 1, 2008). Emerging Markets Finance and Trade, Vol. 45, No. 1, 2009, Available at SSRN: https://ssrn.com/abstract=1271312

Hakan Yilmazkuday (Contact Author)

Florida International University (FIU) - Department of Economics ( email )

11200 SW 8th Street
Miami, FL 33199
United States

HOME PAGE: http://faculty.fiu.edu/~hyilmazk/

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
136
Abstract Views
779
Rank
381,245
PlumX Metrics