Did the Exchange Rate Floor Prevent Deflation in the Czech Republic

@inproceedings{Caselli2017DidTE,
  title={Did the Exchange Rate Floor Prevent Deflation in the Czech Republic},
  author={Francesca G Caselli},
  year={2017}
}
To fight deflationary pressures at the zero lower bound, in November 2013, the Czech National Bank (CNB) introduced a one-sided floor on the exchange rate, as an additional monetary policy instrument. This paper investigates the impact of the FX floor on inflation in the Czech Republic, by comparing actual inflation with counterfactuals in the absence of the exchange rate floor. Three different empirical strategies are implemented: an event study, difference-in-difference regressions and a… CONTINUE READING

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