Monetary Policy Transmission and the Labour Market in the Non‑eurozone Visegrad Group Countries in 2000–2014. Evidence from a SVAR Analysis

Włodarczyk, Przemysław

dc.contributor.author	Włodarczyk, Przemysław	en
dc.date.accessioned	2018-03-05T12:15:07Z
dc.date.available	2018-03-05T12:15:07Z
dc.date.issued	2017-12-29	en
dc.identifier.issn	1508-2008	en
dc.identifier.uri	http://hdl.handle.net/11089/24202
dc.description.abstract	This paper is aimed at filling the gap in existing economic research by delivering new evidence on the money‑labour nexus in the emerging markets of the non‑eurozone Visegrad group countries (i.e. Czech Republic, Hungary and Poland). Analyses are based on the Strucutral VAR (SVAR) models of the monetary transmission mechanism, estimated using monthly data from the 2000:1-2014:2 period. In order to obtain impulse responses, the short‑run restrictions set, based on the monetary transmission theory, is imposed. Two different identification schemes are considered. The results confirm that there exists a nexus between monetary policy, employment, and unemployment. According to the obtained estimates monetary policy shocks invoked lagged, hump‑shaped reactions of output, employment and unemployment in each of the analysed countries.	en
dc.publisher	Wydawnictwo Uniwersytetu Łódzkiego	en
dc.relation.ispartofseries	Comparative Economic Research;20	en
dc.rights	This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.	en
dc.rights.uri	http://creativecommons.org/licenses/by-nc-nd/4.0	en
dc.subject	monetary policy	en
dc.subject	output	en
dc.subject	employment	en
dc.subject	unemployment	en
dc.subject	Visegrad Group countries	en
dc.subject	Structural Vector Autoregressive models	en
dc.subject	SVAR	en
dc.title	Monetary Policy Transmission and the Labour Market in the Non‑eurozone Visegrad Group Countries in 2000–2014. Evidence from a SVAR Analysis	en
dc.page.number	23-43	en
dc.contributor.authorAffiliation	University of Lodz, Faculty of Economics and Sociology, Department of Macroeconomics, Lodz, Poland	en
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dc.contributor.authorEmail	pwlodarczyk@uni.lodz.pl	en
dc.identifier.doi	10.1515/cer-2017-0026	en

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