We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
PUBLIC DEBT AND THE CENTRAL BANK IN THE CONDITIONS OF THE CURRENCY BOARD.
- Authors
Lazić, Đorđe; Plakalović, Novo
- Abstract
The subject and purpose of the research in this paper is based on the analysis of the influence of the central bank on public debt in the conditions of the currency board in Bosnia and Herzegovina. The structure of the work was set up through a dynamic analysis of the ratio of public debt variables, the supply of money, the state of the budget of the governments of Bosnia and Herzegovina, the current account and the nominal exchange rate. The research covers the period from 2000 to 2016. The research methodology is based on the use of empirical data and the application of the vector autoregresion model (VAR). On the basis of an analysis of the function of impulse and response, it is possible to indicate the reactions of the variable variables with one another. On the other hand, the decomposition of variance through the model proves the mutual variability and interaction of the variables for the observed period of research. The practical implications of the work are reflected in the answer to the extent to which monetary' authorities, in the conditions of the currency board, due to the endogenous supply of money, contribute to the creation of a budget deficit and public debt.
- Subjects
PUBLIC debts; CENTRAL banking industry; CURRENCY boards; MONEY supply; VECTOR autoregression model
- Publication
Universitas. Gestão e Tecnologia, 2018, Vol 12, Issue 23, p66
- ISSN
2179-8311
- Publication type
Article
- DOI
10.7251/NOE1823066L