Watch demand-type shocks in move to peg
Monetary policy should focus on demand-type shocks when switching towards the exchange rate peg, new paper from the Czech National Bank posits.
The research investigates small economy behaviour over the transition period towards the exchange rate peg and looks at whether the announcement of monetary policy switch can lead to gradual changes in macroeconomic volatility and the nature of business cycles.
Click here to read the paper
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