The Macroeconomic Effects of the Taylor Rule Deviations in Central and Eastern European Countries
A standard Taylor rule was estimated telemarkskongen flue for several Central and Eastern European (CEE) countries (Czechia, Hungary, Poland, Romania) based on quarterly data over the 2002-2021 period.The SVAR model indicates, for all CEE countries, that the level of central bank policy rate below the Taylor rule implied rate is caused by both outp