Mr.David Vavra

Frontiers of Monetary Policymaking

Adding the Exchange Rate as a Tool to Combat Deflationary Risks in the Czech Republic

The paper first describes how the Czech National Bank (CNB) moved gradually from a fixed exchange rate regime to the frontiers of Inflation-Forecast T...

Modeling Sterilized Interventions and Balance Sheet Effects of Monetary Policy in a New-Keynesian Framework

We study a wide range of hybrid inflation-targeting (IT) and managed exchange rate regimes, analyzing their implications for inflation, output and the...