National Repository of Grey Literature 3 records found  Search took 0.00 seconds. 
Investment in Transmission Mechanism of Inflation Targeting
Kučera, Lukáš ; Brůna, Karel (advisor) ; Slaný, Martin (referee) ; Mach, Miloš (referee)
The dissertation thesis is devoted to the topic of investment with emphasis on their position within the transmission mechanism of inflation targeting. It discusses starting-points of inflation targeting regime, individual transmission channels of monetary policy including their connections, and routes through which the central bank may influence the investment. There are analyzed selected investment theories and other theoretical models that are associated with the investment. Factors, whose changes may induce changes in investment, are derived using the intersection of these two analyzed aspects. They are variables, which flow from a theoretical analysis of transmission channels, as well as variables, that are not directly accented within these channels, but they can be affected by the central bank. Even factors, that are not within the competence of the central bank, are included among the variables. Using available data, sources of investment variability are verified on data for the Czech Republic. Basic empirical analysis of time series and correlation analysis are performed and the vector error correction model is compiled.
Monetary disequilibrium in the theory of endogenous money
Korda, Jan ; Koderová, Jitka (advisor) ; Mach, Miloš (referee) ; Mertlík, Pavel (referee)
The thesis deals with monetary disequilibrium in the theory of endogenous money. In the new consensus economics, money is endogenous and passive. Money market is not considered and if yes, then only in an implicit equilibrium, whereas mechanisms ensuring this equilibrium are not discussed. In post-Keynesian economics, there is an explicit discussion, whether monetary disequilibrium may occur. Horizontalists argued for equality of money supply and money demand. On the other hand, arguments of some structuralists based on an independent demand for money function show that monetary disequilibrium may occur. The thesis therefore analyses mechanisms ensuring equilibrium in the money market. The only mechanism among them which enables the passivity of money is the reflux mechanism. However, it can not be regarded as universal since not all economic subjects which create demand for money are in debt to the banking system. For that reason accommodation of some factors of money demand function is necessary and money is endogenous and active. Econometric tests studying independent money demand and the consequent possibility of monetary disequilibrium based on Granger causality tests seem to be methodologically problematic and showing mixed results. Monetary disequilibrium can not be ruled out. Contemporary monetary policy based mainly on new consensus approach thus omits one channel of monetary policy transmission. Theoretical analysis suggests that monetary equilibrium has to be (at least partly) restored through changes in factors of money demand, which can lead to changes of other macroeconomic variables including inflation.
Deflace a měnová politika (se zaměřením na deflaci na přelomu 20. a 21. století, zejména na Japonsko)
Kufa, Robert ; Koderová, Jitka (advisor) ; Revenda, Zbyněk (referee) ; Mach, Miloš (referee)
Tato práce pojednává o deflaci a přístupu k deflaci z pozice ekonomie hlavního proudu a rakouské ekonomické školy. Dále se zabývá hlavními deflačními obdobími v době fungování zlatého standardu a následně v období po jeho skončení. Hlavní zaměření je na deflaci v jednotlivých zemích v období na přelomu 20. a 21. stol., přičemž zvláštní pozornost je věnována deflaci v Japonsku. Práce analyzuje faktory deflace v Japonsku a možnost zapříčinění deflace měnovou politikou. Sestrojený index měnových podmínek neodhalil měnovou politiku jako faktor vzniku deflace, hlavní důvody jsou spatřovány ve strukturálních problémech Japonska. V poslední řadě práce odlišuje pojmy deflace a změna relativních cen a zabývá se otázkou adekvátní měnové politiky.

See also: similar author names
1 MACH, Marek
4 MACH, Michal
4 MACH, Milan
2 Mach, M.
13 Mach, Martin
4 Mach, Michal
4 Mach, Milan
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