Capital Inflows, Sterilization, and Commercial Bank Speculation : The Case of the Czech Republic in the Mid-1990's »
Series: IMF Working Papers
Author(s): Jakob Christensen
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 November 2004
Keywords: sterilization, exchange rate policy, Czech Republic, domestic credit, monetary policy, short-term capital inflows, monetary fund
The paper analyzes the relationship between large-scale capital inflows and sterilization efforts in the Czech Republic during 1993–96 using a vector autoregression (VAR) model, which consists of domestic cr...