prof. Roman Horváth Ph.D. - Publications

Articles in journals with impact factor

2023 Natural Disasters and Debt Financing Costs, Climate Change Economics, 14(3), 2350015

2022 Fiscal Policy and Nominal Term Premium, Journal of Money, Credit and Banking, 54(2-3), 663-683

2022 Are Exchange Rates Less Important for Trade in a More Globalized World? Evidence for the New EU Members, Economic Systems, 46(1), 100868

2022 Interest Rate Rules and Inflation Risks in a Macro-Finance Model, Scottish Journal of Political Economy, forthcoming

2022 Natural Resources and Income Inequality in Developed Countries: Synthetic Control Method Evidence, Empirical Economics, 62(2), 297-338

2021 Natural Catastrophes and Financial Depth: An Empirical Analysis, Journal of Financial Stability, 53, 100842

2021 Equity Premium and Monetary Policy in a Model with Limited Asset Market Participation, Economic Modelling, 95, 430-440

2021 Openness Effects on the Rule of Law: Size and Patterns of Trade, International Review of Law & Economics, 106027

2020 Peer Effects in Central Banking, IMF Economic Review, 68, 764–814

2020 Central Bank Communication and Financial Market Comovements in the Euro Area, Open Economies Review, 31(2), 257-272

2020 Determinants of Fiscal Multipliers Revisited, Journal of Macroeconomics, 63, 103162.

2020 Does Central Bank Communication Signal Future Monetary Policy? The Case of the ECB, Journal of International Money and Finance, 104, 102167

2020 Finance and Wealth Inequality, Journal of International Money and Finance, 102161

2020 Remittances and Economic Growth: A Meta-Analysis, World Development, 134, 105021

2019 Democratic Institutions, Natural Resources and Inequality, Comparative Economic Studies, 61(4), 531-550

2018 What Type of Finance Matters for Growth? Bayesian Model Averaging Evidence, World Bank Economic Review, 32(2), 383-409

2018 Central Bank Communication and Financial Markets: New High-Frequency Evidence, Journal of Financial Stability, 36, 336-345

2018 Financial Market Fragmentation and Monetary Transmission in the Euro Area: What Do We Know?, Journal of Economic Policy Reform, 21(4), 319-334

2018 Interest Rate Pass-Through in the Euro Area: Financial Fragmentation, Balance Sheet Policies and Negative Rates, Journal of Financial Stability, 36, 12-21

2018 International Spillovers of (Un)Conventional Monetary Policy: The Effect of ECB and US Fed on Non-Euro EU Countries, Economic Systems, 91-105

2018 Stock Market Contagion in Central and Eastern Europe: Unexpected Volatility and Extreme Coexceedance, European Journal of Finance, 24(5), 391-412

2018 Stock Market Contagion: A New Approach, Open Economies Review, 29(3), 547-577

2017 Financial Stress in the Czech Republic: Measurement and Effects on the Real Economy, Prague Economic Papers, 257-268 (lead article)

2017 International Spillovers of ECB’s Unconventional Monetary Policy: The Effect on Central Europe, Applied Economics, 49, 2352-2364

2016 Natural Resources and Economic Growth: A Meta-Analysis, World Development, 88, 134-151

2016 Voting in Central Banks: Theory vs. Stylized Facts, The B.E. Journal of Economic Analysis and Policy, 16(4), 1-62 (lead article)

2016 Central Bank Transparency and Financial Stability, Journal of Financial Stability, 22, 45-56

2016 Exchange Rate Pass-Through in an Emerging Market: The Case of the Czech Republic, Emerging Markets Finance and Trade, 52 (11), 2624-2635

2016 GARCH Models, Tail Index and Error Distributions: An Empirical Investigation, The North American Journal of Economics and Finance, 37, 1-15 (lead article)

2016 How Bank Competition Influences Liquidity Creation, Economic Modelling, 155-161

2016 Natural Resources, Manufacturing and Institutions in Post-Soviet Countries, Resources Policy, 50, 141-148

2016 The Spillover Effect of Euro Area on Central and Southeastern European Economies: A Global VAR Approach, Open Economies Review, 27 (2), 359-385

2016 Transparency and Trust: The Case of the European Central Bank, Applied Economics, 48(57), 5625-5638

2015 Cross-Country Heterogeneity in Intertemporal Substitution, Journal of International Economics, 96(1), 100-118

2015 Financial Development and Economic Growth: A Meta-Analysis, Journal of Economic Surveys, 29(3), 506-526

2015 Central Banks’ Voting Records, Financial Crisis and Future Monetary Policy, European Journal of Political Economy, 38, 229-243

2014 Are Bayesian Fan Charts Useful? The Effect of Zero Lower Bound and Evaluation of Financial Stability Stress Tests, International Journal of Central Banking, 10(1), 159-187 (featured on Hospodarske noviny and on ZET; received Czech National Bank's Economic Research Award)

2014 Bank Capital and Liquidity Creation: Granger Causality Evidence, Journal of Financial Services Research, 45(3), 341-361

2014 Evaluating the Changes of Monetary Transmission Mechanism in the Czech Republic, Empirical Economics, 46(3), 827-842

2014 Exchange Market Pressures during the Financial Crisis: A Bayesian Model Averaging Evidence, Journal of International Money and Finance, 40, 21-41

2014 How Does Monetary Policy Change? Evidence on Inflation Targeting Countries, Macroeconomic Dynamics, 18(3), 593–630

2014 The Dissent Voting Behavior of Central Bankers: What Do We Really Know?, Applied Economics, 46(4), 450-461

2014 The Interest Rate Spreads in the Czech Republic: Different Loans, Different Determinants?, Economic Systems, 38(1), 43-54

2013 Does Trust Promote Growth?, Journal of Comparative Economics, 777-788 (featured on Investors Chronicle)

2013 How to Solve the Price Puzzle? A Meta-Analysis, Journal of Money, Credit and Banking, 45(1), 37-70

2013 Time-Varying Monetary-Policy Rules and Financial Stress: Does Financial Instability Matter for Monetary Policy?, Journal of Financial Stability, 9(1), 117-138

2013 Central Bank Communication and Interest Rates: The Case of the Czech National Bank, Czech Journal of Economics and Finance, 454-464

2013 International Stock Market Integration: Central and South Eastern Europe Compared, Economic Systems, 37(1), 81-91

2013 Risk management of building societies in the Czech Republic, Journal of Economics, Slovakia

2013 Stock market comovements in Central Europe: Evidence from the asymmetric DCC model , Economic Modelling, Volume 33, Pages 55-64.

2012 Central Banks’ Voting Record and Future Policy, International Journal of Central Banking, 8(4), 1-19 (lead article; featured on Bloomberg)

2012 On the Reversibility of Structural Reforms, Economics Letters, 217-219

2012 Reform Redux: Measurement, Determinants and Growth Implications, European Journal of Political Economy, 28(2), 227-237

2012 Do Confidence Indicators Help Predict GDP Growth? The Case of the Czech Republic, Czech Journal of Economics and Finance, 398-412 (lead article)

2012 Do the Board of Directors Characteristics Influence Firm Performance? The U.S. Evidence, Prague Economic Papers, 470-486

2012 Heterogeneity in Bank Pricing Policies: The Czech Evidence, Economic Systems, 87-108

2012 International Stock Market Comovements: What Happened during the Financial Crisis?, Global Economy Journal, 12(1), Article 3.

2012 Is the U.S. Fed Voting Record Informative about Future Monetary Policy?, Czech Journal of Economics and Finance, 478-484

2012 Monetary Transmission and the Financial Sector in the Czech Republic, Economic Change and Restructuring, 135-155 (lead article)

2011 Does Money Help Predict Inflation? An Empirical Assessment for Central Europe, Economic Systems, 523-536

2011 Does Money Help Predict Inflation? An Empirical Assessment for Central Europe, Economic Systems

2011 How Are Inflation Targets Set?, International Finance, 14(2), 265-300

2011 Research & Development and Growth: A Bayesian Model Averaging Analysis, Economic Modelling, 28(6), 2669-2673

2011 The Frequency and Size of Price Changes: A Non-Parametric Estimation, Macroeconomics and Finance in Emerging Market Economies, 4(2), 263-268.

2010 Central Bank Communication and Exchange Rate Volatility: A GARCH Analysis, Macroeconomics and Finance in Emerging Market Economies, pp. 25-31

2010 Corporate Interest Rates and the Financial Accelerator in the Czech Republic, Emerging Markets Finance and Trade, 46(4), pp. 45-58.

2010 Price Setting and Market Structure: An Empirical Analysis of Micro Data in Slovakia, Managerial and Decision Economics, special issue on Price Setting in Some EU Countries, pp. 209-233

2009 Assessing Inflation Persistence: Micro Evidence on an Inflation Targeting Economy, Czech Journal of Economics and Finance, pp. 102-127

2009 Estimating Expected Loss Given Default in an Emerging Economy: The Case of Czech Republic, Journal of Financial Transformation, pp. 69-73.

2009 How Important Are Foreign Shocks in a Small Open Economy? The Case of Slovakia, Global Economy Journal, 9(1), Article 5.

2009 Monetary Policy Strategies before Euro Adoption: The Art of Chasing Many Rabbits, Czech Economic Review, pp. 176-198.

2009 The Determinants of Interest Rate Margins of the Czech Banks, Czech Journal of Economics and Finance, pp. 128-136

2009 The Effects of Monetary Policy in the Czech Republic: An Empirical Study, Empirica, pp. 419-433

2009 Time-Varying Policy Neutral Rate in Real Time: A Predictor for Future Inflation?, Economic Modelling, pp. 71-81

2008 Asymmetric Monetary Policy in the Czech Republic?, Czech Journal of Economics and Finance, pp. 470-481

2008 Do Central Bank Forecast Errors Contribute to Missing of Inflation Targets? The Case of Czech Republic, Czech Journal of Economics and Finance, pp. 434-453

2008 Inflation Differentials in New EU Member States: An Empirical Evidence, Czech Journal of Economics and Finance, pp. 318-328

2008 Undershooting of the inflation target in the Czech Republic: The role of inflation expectations, Czech Journal of Economics and Finance, pp. 482-492

2008 Volatility of Exchange Rates in Selected New EU Members: Evidence from Daily Data, Economic Systems, pp. 103-118 (among top 3 cited in this journal during last 5 years)

2007 Equilibrium Exchange Rates in EU New Members: Methodology, Estimation and Applicability to ERM II, Prague Economic Papers, pp. 24-37

2007 Equilibrium Exchange Rates in the EU New Members: Methodology, Estimation and Applicability to ERM II, Prague Economic Papers

2007 Inter-Regional Migration of Czech Population: The Role of Liquidity Constraints, Ekonomicky casopis (Slovak Journal of Economics), pp. 731-746

2007 Modelling Central Bank Intervention Activity under Inflation Targeting, Economics Bulletin, 6, pp. 1-8

2007 Ready for Euro? Evidence on EU New Member States, Applied Economics Letters, pp. 1083-1086

2005 Exchange Rate Convergence and Eurozone Entry: Selected Exchange Rate Issues in Candidate Countries, Czech Journal of Economics and Finance, pp. 483-505

2005 Exchange Rate Variability, Pressures and Optimum Currency Areas: Some Empirical Evidence from the 1990s, Applied Economics Letters, pp. 919-922

2005 Real Exchange Rates and Optimum Currency Areas: Evidence from the 1990s, Czech Journal of Economics and Finance, pp.253-266

2004 Is Dollarization Right Option? Financial Fragility, Original Sin and Fear of Floating, Finance a uver - Czech Journal of Economics and Finance, pp. 252-266

2003 Individual Decision-Making in Economics of Crime: Survey of Early Models, Finance a uver - Czech Journal of Economics and Finance, pp. 154-168

2002 Argentina: Rise and Decline: Seminar of the Czech Economic Association, Czech Journal of Economics and Finance, pp. 570-572

2002 Optimum Currency Area Theory, Proceedings to the Annual Conference of the Czech Economic Association, Finance a uver - Czech Journal of Economics and Finance, pp. 630-632

2002 Professor Jaroslav Vanek: A Scientific Biography, Politická ekonomie, pp. 859-870.

2002 Theory of Optimum Currency Areas: A Framework for Discussions of Monetary Integration, Finance a uver - Czech Journal of Economics and Finance, pp. 386-407

Monograph

2006 Does Czech Republic Fulfill OCA Criteria for Euro Adoption?, Hlavkova nadace, No. 4/2006

Chapter in book

2013 Voting Record and Monetary Policy Predictability: International Evidence, Siklos and Sturm (eds): Central Bank Communication, Decision-Making and Governance, MIT Press, 251-272

2012 Optimal Inflation, Inflation Targets and Disinflation, in Hasanov, M (ed.): Inflation, Deflation and Disinflation, Nova Science Publishers, NYC

2011 How Does Financial Instability Matter for Monetary Policy?, Eijffinger and Masciandaro (eds.): Handbook of Central Banking, Financial Regulation and Supervision, Edward Elgar Publishing, pp. 269-313.

2008 Monetary Policy before Euro Adoption: Challenges for EU New Members, Fidrmuc, Lacina and Rusek (eds.): Economic Performance of European Union, Palgrave Macmillan

2006 Exchange Rate Dynamics in Selected EU New Member States, Poloucek and Stavarek (eds.): The Financial Sector in the Enlarging European Union, Cambridge Scholars Press

2005 Some Exchange Rate Aspects of the ČR Eurozone Entry, Hlávkova nadace No. 2/2005

IES Working Papers

2020 Are Exchange Rates Less Important for Trade in a More Globalized World? Evidence for the New EU Members, IES Working Papers 10/2020

2020 Natural Catastrophes and Financial Development: An Empirical Analysis, IES Working Papers 14/2020

2020 Peer Effects in Central Banking, IES Working Papers 24/2020

2020 Publication and Identification Biases in Measuring the Intertemporal Substitution of Labor Supply, IES Working Papers 32/2020

2019 Does Central Bank Communication Signal Future Monetary Policy? The Case of the ECB, IES Working Papers 12/2019

2019 Remittances and Economic Growth: A Meta-Analysis, IES Working Papers 35/2019

2018 Finance and Wealth Inequality, IES Working Papers 35/2018

2016 Equity Premium and Monetary Policy in a Model with Limited Asset Market Participation, IES Working Papers 04/2016

2016 Natural Resources and Economic Growth: A Meta-Analysis, IES Working Papers 3/2016

2015 GARCH Models, Tail Indexes and Error Distributions: An Empirical Investigation, IES Working Papers 9/2015

2014 Central Banks' Voting Records, Financial Crisis and Future Monetary Policy, IES Working Papers 35/2014

2014 The Natural Resource Curse and Institutions in Post-Soviet Countries, IES Working Papers 24/2014

2013 Cross-Country Heterogeneity in Intertemporal Substitution, IES Working Papers 11/2013

2013 Financial Development and Economic Growth: A Meta-Analysis, IES Working Papers 4/2013

2012 Central Bank Transparency and Financial Stability: Measurement, Determinants and Effects, IES Working Papers 25/2012

2012 Dissent Voting Behavior of Central Bankers: What Do We Really Know?, IES Working Papers 5/2012

2012 Does Trust Promote Growth?, IES Working Papers 9/2012

2012 Evaluating Changes in the Monetary Transmission Mechanism in the Czech Republic, IES Working Papers 11/2012

2011 Central Banks’ Voting Records and Future Policy, IES Working Papers 37/2011

2011 How Are Inflation Targets Set?, IES Working Papers 1/2011

2011 How to Solve the Price Puzzle? A Meta-Analysis, IES Working Papers 24/2011

2011 Research & Development and Long-Term Economic Growth: A Bayesian Model Averaging Analysis, IES Working Papers 19/2011

2010 How Does Monetary Policy Change? Evidence on Inflation Targeting Countries, IES Working Papers 26/2010

2009 Interest Margins Determinants of Czech Banks, IES Working Papers 11/2009

2008 How Important Are Foreign Shocks in Small Open Economy? The Case of Slovakia , IES Working Papers 21/2008

2008 Inflation Differentials in EU New Member States: An Empirical Evidence , IES Working Papers 24/2008

2008 Price Setting and Market Structure: An Empirical Analysis of Micro Data , IES Working Papers 23/2008

2007 Estimating Time-Varying Policy Neutral Rate in Real Time, IES WP

2007 Measuring and Explaining Inflation Persistence: Disaggregate Evidence on the Czech Republic, IES Working Papers 2007/22

2007 The Effects of Monetary Policy in the Czech Republic:An Empirical Study, IES Working Papers 2007/26

2006 Credibility of Exchange Rate Policies in Selected EU New Members: Evidence from High Frequency Data, IES Working Paper 2006/28

2006 Inter-regional Labor Mobility: The Role of Liquidity Constraints, IES WP 2006/6

2006 Reform Redux: Measurement, Determinants and Reversals, CEPR Discussion Papers, No. 5673 (also in IZA DP, No. 2093 and IES WP, No. 16/06)

2005 Exchange Rate Variability, Pressures and Optimum Currency Area Criteria: Implications for the Central and Eastern European Countries, IES WP 2005/78

2005 Financial Accelerator Effects in the Balance Sheets of Czech Firms, IES WP 2005/96

2005 Real Equilibrium Exchange Rates: To What Extent Applicable for Setting Central Parity?, IES FSV UK Working Papers Series No. 75 (also in Prague Social Science Studies, EC-002/2005)

IES Occassional Papers

2006 Monetary Policy before Euro Adoption: Challenges for New EU Members, IES Occassional Paper 5/2006

Article in collection

2008 Asymmetric Monetary Policy in the Czech Republic?, Czech National Bank

2008 Prediction bias and undershooting of the inflation target: The case of Czech Republic , Czech National Bank

2008 Reasons for undershooting the inflation target in the Czech Republic: The role of inflation expectations, Czech National Bank

2003 Readiness for Euro Adoption: View of Optimum Currency Areas Theory, Economic Seminars of Czech Economic Society

Others

2021 Publication and Identification Biases in Measuring the Intertemporal Substitution of Labor Supply, CEPR Discussion Papers, No. 16032

2019 Basel III Implementation and SME Financing : Evidence for Emerging Markets and Developing Economies , World Bank Policy Research Working Paper, No. 9069

2019 Determinants of Fiscal Multipliers Revisited, Vienna University of Economics and Business working paper, no. 294 (also in Central Bank of Hungary WP no. 3-2019)

2019 Fiscal Policy and Nominal Term Premium, Central Bank of Hungary WP, No. 2-2019

2019 Natural Resources and Income Inequality in Developed Countries: Synthetic Control Method Evidence, IOS Regensburg working paper, No. 381

2018 Editorial: Challenges for Financial Stability in Europe, Journal of Financial Stability

2018 Editorial: The Risks to Macroeconomic and Financial Stability, Economic Systems

2018 Finance and Wealth Inequality, IOS WP No. 378, Regensburg

2017 Design and sequencing of exit from non-standard monetary policy measures: What should the ECB “new normal” look like?, Monetary Dialogue, Monetary Experts Panel, European Parliament

2017 European integration in the aftermath of the debt crisis, introduction to the special issue, Journal of Economic Policy Reform, forthcoming

2017 Financial Development, Rule of Law and Wealth Inequality: Bayesian Model Averaging Evidence, Bank of Finland Institute of Transition, Discussion Paper No. 12-2017 (featured on centralbankig.com)

2017 Government Spending and the Term Structure of Interest Rates in a DSGE Model, National Bank of Slovakia, WP. 3-2017

2017 Market Reading of Central Bankers' Words: A High-Frequency Evidence, National Bank of Slovakia WP No. 2-2017

2017 The Side Effects of Unconventional Monetary Policy, Monetary Dialogue, Monetary Experts Panel, European Parliament

2016 An assessment of the impact of Brexit on euro area stability, Briefing paper for the Monetary Dialogue, Monetary Experts Panel, European Parliament

2016 Divergent monetary policies of the US Federal Reserve and the ECB: Implications for the euro area, Briefing paper for the Monetary Dialogue, Monetary Experts Panel, European Parliament

2016 Financial Crisis, Speculative Bubbles and Functioning of Financial Markets, European Policy Brief D2.7, FinMaP EU project

2016 Financial market fragmentation and monetary transmission in the euro area, Briefing paper for the Monetary Dialogue, Monetary Experts Panel, European Parliament

2016 Natural Resources and Economic Growth: A Meta-Analysis, Czech National Bank WP 1/2016 (also in IOS Working Paper, No. 350, Regensburg)

2016 Trade Patterns and Endogenous Institutions: Global Evidence, IOS WP, No. 358, Regensburg.

2016 What type of finance matters for growth ? Bayesian model averaging evidence, World Bank Policy Research Working Paper, No. 7645

2015 Editorial: Banking in Europe - Current Challenges, Open Economies Review, 26(3), 379-381

2015 International Spillovers of ECB’s Unconventional Monetary Policy: The Effect on Central and Eastern Europe, IOS Working Paper, No. 351, Regensburg

2015 Transparency and Trust: The Case of the European Central Bank, IOS Working Paper, No. 352, Regensburg

2015 What type of finance matters for growth? Bayesian model averaging evidence, Bank of Finland WP, No. 17-2015

2014 Cross-Country Heterogeneity in Intertemporal Substitution, Czech National Bank WP 6/2014 (also in William Davidson Institute WP 1056)

2014 Editorial - The Methodology of Stress Tests: What is Used by the Czech National Bank?, Czech National Bank Research Bulletin 1-2014

2014 Editorial Information, Economic Systems, 5-6

2014 The Natural Resource Curse in Post-Soviet Countries: The Role of Institutions and Trade Policies, IOS WP No. 341, Regensburg, Germany

2014 The Term Structure of Interest Rates in a Small Open DSGE Model with Markov Switching, FinMaP working paper, No. 22

2013 Exchange Market Pressures during the Financial Crisis: A Bayesian Model Averaging Evidence, Bank of Finland, BOFIT, WP 11-2013 (featured on centralbanking.com)

2013 Editorial - Transmission of Monetary Policy, Czech National Bank Research Bulletin 1-2013

2013 Evaluating Changes in the Monetary Transmission Mechanism in the Czech Republic, Czech National Bank Research Bulletin 1-2013

2013 Financial Development and Economic Growth: A Meta-Analysis, William Davidson Institute WP. 1045, University of Michigan (also in Czech National Bank WP 5/2013)

2013 How Bank Competition Influence Liquidity Creation, Bank of Finland, BOFIT, WP 16-2013

2013 How to Solve the Price Puzzle? A Meta-Analysis, Czech National Bank Research Bulletin 1-2013

2012 The Unbearable Lightness of Being a Reversible Reform, VoxEU.org Research-based policy analysis and commentary from leading economists

2012 Are Bayesian Fan Charts Useful for Central Banks? Uncertainty, Forecasting, and Financial Stability Stress Tests, Czech National Bank Research Bulletin 1/2012

2012 Banks’ Capital and Liquidity Creation: Granger Causality Evidence, Czech National Bank Working Papers

2012 Banks’ Capital and Liquidity Creation: Granger Causality Evidence, Czech National Bank Research Bulletin, 10(2)

2012 Banks’ Capital and Liquidity Creation: Granger-Causality Evidence, European Central Bank Working Papers, No.1497 (also in IOS WP No. 318)

2012 Financial Stability and Monetary Policy, (eds.), Czech National Bank Research Bulletin

2012 International Stock Market Integration: Central and South Eastern Europe Compared, William Davidson Institute working papers No. 1028 (also in IOS WP, No. 319)

2012 On the Reversibility of Structural Reforms, IZA Disscusion Papers, No. 6522

2012 Stock Market Comovements in Central Europe: Evidence from Asymmetric DCC Model, William Davidson Institute WP series, No. 1035

2012 Stock Market Comovements in Central Europe: Evidence from Asymmetric DCC Model, William Davidson Institute, WP No. 1035 (also in IOS WP, No. 322).

2011 Are Bayesian Fan Charts Useful for Central Banks? Uncertainty, Forecasting and Financial Stability Stress Tests, Czech National Bank working paper series No. 10-2011

2011 Central banks’ voting records and future policy, VoxEU.org Research-based policy analysis and commentary from leading economists

2011 Dissent Voting Behavior of Central Bankers: What Do We Really Know?, MPRA WP, No. 34638

2011 Do Financial Variables Help Predict the Macroeconomic Environment?, Czech National Bank Research Bulletin 2-2011

2011 Does Money Help Predict Inflation?, Czech National Bank Research Bulletin 1-2011

2011 Editorial, Czech Economic Review

2011 Editorial , Czech National Bank Research Bulletin

2011 Evaluating the Changes of Monetary Transmission Mechanism in the Czech Republic, Czech National Bank working paper 13-2011

2011 How are inflation targets set?, VOX Research-based policy analysis and commentary from leading economists

2011 How Does Monetary Policy Change?, Czech National Bank Research Bulletin 1-2011

2011 How does monetary policy respond to financial stress?, VoxEU.org Research-based policy analysis and commentary from leading economists

2011 How to Solve the Price Puzzle? A Meta-Analysis, Czech National Bank working paper series 2/2011 (also in CERGE-EI WP No. 446) (featured on Economic Logician blog)

2011 International Stock Market Comovements: What Happened during the Financial Crisis?, MPRA WP, No. 35317

2011 Interview about the reforms of building societies in the Czech Republic, penize.cz

2011 Monetary Policy Rules and Financial Stress: Does Financial Instability Matter for Monetary Policy?, Universitat Autonoma de Barcelona working paper 01/11

2011 Question of the Day: Will the Czech National Bank Increase its Policy Rate?, Lidové noviny, 8.3.2011

2011 Reforming too hastily?, Ekonom (Czech weekly)

2011 The Effects of Monetary Policy in the Czech Republic, Czech National Bank Research Bulletin 1-2011

2011 The future of building savings in the CR, Charles University in Prague

2011 The Future of Building Societies, Bankovnictvi (Czech monthly)

2011 Time-Varying Monetary-Policy Rules and Financial Stress: Does Financial Instability Matter for Monetary Policy?, Czech National Bank Working Paper No. 3/2011

2010 Central Banks’ Voting Record and Future Policy, Czech National Bank working paper series, No. 10-2010

2010 Does Money Help Predict Inflation? An Empirical Assessment for Central Europe, Czech National Bank WP No. 5/2010

2010 How Are Inflation Targets Set?, CERGE-EI WP, No. 426 (featured on Economic Logician blog)

2010 How Does Monetary Policy Change? Evidence on Inflation Targeting Countries, Czech National Bank working paper No. 2/2010 (also as University of Barcelona working paper 07/10)

2010 Monetary Transmission and the Financial Sector in the Czech Republic, Czech National Bank WP 6/2010

2009 Assessing Inflation Persistence: Micro Evidence on an Inflation Targeting Economy, CEPR Discussion Papers, No. 7268

2009 Central Bank Communication and Exchange Rate Volatility: A GARCH Analysis, William Davidson Institute, WP No.962

2009 Editorial, Czech Economic Review

2009 Heterogeneity of Bank Pricing Policies: The Czech Evidence, Czech National Bank working paper 8/2009

2009 How Does Monetary Policy Change? Evidence on Inflation Targeting Countries, UTIA AV CR, Research report

2009 Reform Redux: Measurement, Determinants and Reversals, Czech National Bank working paper series, 6/2009

2008 Assessing Inflation Persistence: Micro Evidence on an Inflation Targeting Economy, CERGE-EI working paper, No. 353

2008 Corporate Interest Rates and the Financial Accelerator in the Czech Republic, University of Munich Department of Economics discussion paper no. 23/2008

2008 Editorial, AUCO Czech Economic Review

2008 How Important Are Foreign Shocks in Small Open Economy? The Case of Slovakia, William Davidson Institute, WP No. 933

2008 Inflation Differentials in New EU Member States: Empirical Evidence, William Davidson Institute working paper, No. 937

2008 Measuring and Explaining Inflation Persistence: Disaggregate Evidence on the Czech Republic, Czech National Bank Research Bulletin, 1/2008

2008 Price Setting and Market Structure: An Empirical Analysis of Micro Data, William Davidson Institute working paper No. 938

2008 The Effects of Monetary Policy in the Czech Republic: An Empirical Study, William Davidson Institute Working Paper No. 922

2007 Measuring and Explaining Inflation Persistence: Disaggregate Evidence on the Czech Republic, Czech National Bank working paper, no.1/2007

2007 The Effects of Monetary Policy in the Czech Republic: An Empirical Study, CERGE-EI Working Paper, No. 339

2007 Time-Varying Neutral Policy Rate in Real Time: A Predictor of Future Inflation?, Czech National Bank working paper, No. 4/2007

2007 Volatility of Exchange Rates in Selected EU New Members: Evidence from Daily Data, CESifo Working Paper, No. 2107

2006 Financial Accelerator Effects in the Balance Sheets of Czech Firms, William Davidson Institute Working Papers, No. 847, (also in IES FSV UK working papers, No. 96/2005)

2006 Inter-regional Migration in the Czech Republic: The Role of Liquidity Constraints, Prague Social Science Studies, EC-018/2006

2006 Monetary Policy before Euro Adoption: Challenges for EU New Members, William Davidson Institute Working Paper, No. 853, (also in IES FSV UK occasional papers, No. 5/2006)

2006 Price setting Behavior: Micro Evidence on Slovakia, CEPR Discussion Papers, No. 5445

2006 Real-Time Time-Varying Equilibrium Interest Rates: Evidence on the Czech Republic, William Davidson Institute Working Papers, No. 848

2006 Reform Redux: Measurement, Determinants and Reversals, CEPR Discussion Papers, No. 5673 (also in IZA DP, No. 2093 and IES WP, No. 16/06)

2005 Exchange Rate Variability, Pressures and Optimum Currency Area Criteria: Implications for the EU New Members, Czech National Bank Research Bulletin No. 2/2006

2005 Exchange rate variability, pressures and optimum currency areas: Implications for Central and Eastern European Countries, Czech National Bank Working Paper Series, No. 8/2005 (also in IES FSV UK WP No. 78)

2003 ERM II Membership - the View of the Accession Countries, Czech National Bank Working Paper Series No. 10/2003

2003 Optimum Currency Area Indices: Evidence from 1990s, Warwick Economic Research Papers No. 665

2003 Optimum Currency Area Indices: How Close is the Czech Republic to the Eurozone?, Czech National Bank Research Paper Series No. 11/2003

2002 Optimum Currency Area Theory: An Approach For Thinking About Monetary Integration, Warwick Economic Research Papers No. 647

Submissions

2023 Basel III and SME Financing: Evidence for Emerging Markets and Developing Economies, submitted

2023 Financial Market Uncertainty in the US: Measurement, Trends and Effects, Journal of Banking & Finance, revise and resubmit

2023 How Does Finance Affect Income Inequality? A Panel Bayesian Model Averaging Approach, European Journal of Political Economy, revise-resubmit

2023 Publication and Identification Biases in Measuring the Intertemporal Substitution of Labor Supply, Review of Economic Dynamics, reject and resubmit, available at meta-analysis.cz/frisch

2023 The Determinants of Financial Development: Bayesian Model Averaging Evidence, Journal of Comparative Economics, 2nd revise-resubmit

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