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Abstract The accelerated digital transformations of the last decade have prompted central banks to rethink their role in the modern economy, leading to the development of digital currencies (CBDCs). This paper analyz...

In the face of the global financial crisis, central banks have used unconventional monetary policy instruments. Firstly, they implemented the interest rate policy, lowering base interest rates to a very low (almost zero)...

The aim of this paper is to test the impacts of oil price increases on monetary policy implementation in the largest oil importers. For that purpose, we estimate structural vector error correction (SVEC) models to sh...

The goal of the paper is to identify and estimate transmission of monetary policy impulses through the broad credit and bank capital monetary policy transmission channels in the “core” and “peripheral” countrie...

Purpose — This study examines the nonlinear effect of Economic Policy Uncertainty (EPU) on China’s Renminbi (RMB) exchange rate. Methods — Based on the monetary model of exchange rate determination and the behavio...

The aim of this paper is to evaluate the controversies of fiscal and monetary policies in defining business cycles in Croatia, i.e. to answer the question whether they can, and in what way, determine the cyclical movemen...

In this paper we provide new empirical evidence relevant for discussions on monetary policy independence in the context of euro adoption in three Central and Eastern European (CEE) countries: Czechia, Hungary and Polan...

The aim of the study is to compare the impact of the ECB’s monetary impulse on the euro area member states’ economies at different time intervals. The paper is divided into three major parts. In the first part was de...

There is a close relationship between a country’s exchange rate regime and monetary arrangement and if we are to examine monetary arrangements then exchange rate regimes must first be analysed. Within the conventional ...

Тaking into account the specific features of the Macedonian economy, as a small, open economy with a fixed exchange rate, the goal of this research is to contribute to the discussion of whether countries with ...

The study aims to justify the theoretical and methodological foundations and to develop an infological model for improving monetary levers and incentives to enhance the competitiveness of business entities in Ukraine. We...

The aim of our research was to compare the methods of privatization of social ownership and monetary system in the countries of former Yugoslavia with the privatization mode and monetary arrangement that could be conside...

The legal framework of the East African Monetary Union (EAMU) consists of both EAC legal instruments and Partner State legal instruments. The Community legal instruments designate the priority areas for harmonisation in ...

This study investigates the determinants of exchange rate volatility in African nations over the period 2000 to 2023 using panel data techniques. Key macroeconomic variables including GDP growth, export performance, broa...

When central banks act, their policies and instruments impact not only on the economy, but on people’s rights as well. For this reason, central banks depend on politics, since politics is the organization of the polity...

This study examined the dynamic relationship between central bank financial policies, capital market volatility, and macroeconomic performance in Nigeria from 1990 to 2023. Market capitalization is employed as a proxy fo...

The paper investigates the effect of budget announcements to the stock market of Nigeria using some the key macroeconomic indices such as budget size, fiscal deficit, exchange rate, and monetary policy rate (MPR) and inf...

In his article, the author deals with the amendment to the Act on the Czech National Bank adopted in the spring of 2020. He examines the process of adopting this amendment and also the reasons for its adoption from the p...

For each country, joining the union is a unique process, considering advantages and disadvantages which a country can thus obtain. In order to fulfill conditions for the EU accession, transition countries must achieve di...

The article analyzes the foreign exchange market functioning under the influence of exchange rate fluctuations. The main factors determining the exchange rate in the existing conditions have been determined. All course-f...

Analysing push and pull determinants of capital flows has become increasingly important with global financial crisis. Namely, global financial crisis has shown that large and volatile capital flows can pose risks, espe...

The present article examines four interrelated elements of the economy: namely, markets, labour, production, and distribution. These elements thus function as principles and laws. This approach is predicated on the premi...

Previous studies appear to have concentrated on the effects of currency depreciation on trade balance and macroeconomic policy, while the relationship between money demand and trade balance is scantly documented in the l...

Abstract. The evaluation of forecast accuracy is one of the key instruments for assessing the reliability and practical value of analytical models applied by various institutions in the field of macroeconomic forecasting...