Asimetrija učinaka monetarne politike u Europskoj uniji

master's thesis

• Title (english): Asymmetry of the effects of monetary policy in the European Union
• Author: Krešimir Klepo
• Mentor: Josip Tica (mentor)
• Committee member: Vladimir Arčabić (predsjednik povjerenstva)
• Committee member: Tomislav Globan (član povjerenstva)
• Granter: University of Zagreb; Faculty of Economics and Business; (Department of Macroeconomics and Economic Development); Zagreb
• Defense date and country: 2023-09-26, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Economics; Macroeconomics

Abstract

Ovaj rad analizira kako se učinci zajedničke monetarne politike Europske monetarne unije razlikuju u državama članicama. Koristeći vektorski autoregresijski model provjerava se reakcija makroekonomskih varijabli jaza BDP-a i inflacije na šok monetarne politike. Reakcija šoka prikazana je funkcijom impulsnog odaziva, a sličnost reakcija istražena je klaster analizom. Pronađena je značajna razlika u reakcijama makroekonomskih varijabli na šok monetarne politike, a posebnost reakcija iskazuju skandinavske države Estonija, Latvija i Litva.

Abstract (english)

This paper analyses how the effects of the common monetary policy of the European Monetary Union vary across its member states. Employing the vector autoregression model, this investigation examines the responsiveness of key macroeconomic indicators, namely, the GDP gap and inflation, to monetary policy shocks. The shock reaction is shown by the impulse response function, and the similarity of the reactions was investigated by cluster analysis. Significant disparities are found in the reactions of macroeconomic variables to the monetary policy shocks, with the Scandinavian countries, Estonia, Latvia, and Lithuania, demonstrating distinctive responses.

• Keywords: monetarna politika; Europska monetarna unija; asimetrija učinaka; vektorski autoregresijski model; funkcija impulsnog odaziva
• Keywords (english): monetary policy; European Monetary Union; asymmetry of effects; vector autoregression model; impulse response function
• Language: croatian
• URN:NBN: urn:nbn:hr:148:082379
• Study programme: Title: Economics; Study programme type: university; Study level: integrated undergraduate and graduate; Academic / professional title: magistar/magistra ekonomije (magistar/magistra ekonomije)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Open access
• Created on: 2023-09-26 12:18:04