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INSIGHTS TO SUBJECT MATTER __________________________________________ 6

EMPIRICAL FINDINGS IN THE LITERATURE SO FAR ___________________________ 9
MOTIVATION FOR SUBSEQUENT ANALYSIS ________________________________ 15
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GOALS, TARGETS AND TOOLS OF MONETARY POLICY IN CEE COUNTRIES ________ 18

EVOLUTION OF EXCHANGE RATE REGIMES IN CEEC’S ______________________ 21
MONETARY SECTOR DEVELOPMENTS DURING TRANSITION ____________________ 22
SHORT SUMMARY ___________________________________________________ 25
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VECTOR AUTOREGRESSION AND IDENTIFICATION PROBLEM ___________________ 26

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INSIGHTS TO SUBJECT MATTER __________________________________________ 6

GOALS, TARGETS AND TOOLS OF MONETARY POLICY IN CEE COUNTRIES ________ 18

VECTOR AUTOREGRESSION AND IDENTIFICATION PROBLEM ___________________ 26

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