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A Debt to the West: Recent Developments in the International Financial Situation of East-Central Europe

✍ Scribed by Wieslaw Z. Michalak; Richard A. Gibb

Book ID
119833000
Publisher
John Wiley and Sons
Year
1992
Tongue
English
Weight
984 KB
Volume
44
Category
Article
ISSN
0033-0124

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## Abstract This paper compares impulse responses to monetary policy shocks in the euro area countries before the EMU and in the New Member States (NMS) from central–eastern Europe. We mitigate the small‐sample problem, which is especially acute for the NMS, by using a Bayesian estimation that comb