Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/322220 
Year of Publication: 
2025
Series/Report no.: 
Working Paper No. 2025-01
Publisher: 
Prague University of Economics and Business, Faculty of International Relations (FIR), Prague
Abstract: 
We use a Bayesian VAR with economically interpretable structural restrictions and zero restrictions on lags, to analyse the transmission channels of external shocks to an extended set of Central European markets. In particular, we study to what extent monetary policy shocks originating from the US and from the EU can explain áuctuations on countries in the Visegrad Group. We Önd that the US monetary policy ináuences the Central European macroeconomic variables at least as much as its EU counterpart, often independently, without being mediated through Germany. Furthermore, the Öndings indicate that the income absorption e§ect dominates, leading to a contraction in output of small open economies.
Subjects: 
EU
Monetary Policy
US
Visegrad Group
V4
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.