National Repository of Grey Literature 252 records found  1 - 10nextend  jump to record: Search took 0.01 seconds. 
Central bank communication and exchange rates: High-frequency evidence
Suntychová, Petra ; Horváth, Roman (advisor) ; Komárek, Luboš (referee)
The GARCH analysis has been used to estimate the effect of central banks' announcements, posted on their official websites, on demands for the curren- cies they are taking care of, with a focus on the type of announcements re- leased. The announcement specifics observed were past-looking statements, and forward-looking statements, whether they were announcing a monetary policy, financial stability, or commenting on a political situation. The results have shown that announcements made by central banks, both European Central Bank and Czech National Bank, mostly have not significantly affected demands for their respective currencies with certain exceptions. Also, the results suggest that demand for the Euro currency is being affected by these announcements with a longer lag, and announcements made by the European Central Bank are having less impact than those of its Czech counterpart. Overall, it has been concluded that announcements posted on official websites are affecting currency demands less than other influencing factors. JEL Classification F12, F21, F23, H25, H71, H87 Keywords central bank, exchange rate, foreign exchange, GARCH Title Central bank communication and currency de- mand: GARCH Analysis
Vplyv menového kurzu na ekonomiku ČR a SR
Adamčíková, Monika
Bachelor thesis evaluates the development of Czech and Slovak economy based on the evolution of exchange rate. The work includes a comparison of macroeconomic development mentioned countries in relation to the adoption of the euro in Slovakia, in comparison to the Czech Republic which still uses its own national currency. This work is also focused on the impact of introducing the common European currency in Slovakia.
Forex interventions of CNB in front of the door to Eurozone
Kadlec, Tomáš
Kadlec, T. Forex interventions of CNF in front of the door to Eurozone. Di-ploma thesis. Brno: Mendel University, 2015. This thesis study the foreign exchange intervention of Czech National Bank, launched in November 2013. Under the circumstances have been chosen to use the Marshall-Lerner condition which finds the economy suitable for cur-rency devaluation or not. For reach this goal have been calculated regression analysis with two alternative results for calculating the condition. In the first alternative, full Marshall-Lerner equation, could not be satisfaction of condi-tion proven, but nor was dissatisfaction. In the second one, where was import of Czech Republic calculated with zero value according to regression analysis result, was the condition satisfied. Results have been compared with numbers from United Kingdom and found opposed. In comparison to Slovak Republic was found Czech development of macroeconomic indicators better.
Exchange rate risk in the execution of payment transactions in the Chinese yuan and the possibility of its hedging
VOTAVA, Tomáš
This diploma thesis analyses an exchange rate risk of Czech companies related with business transactions in Chinese yuan in specific type examples and determines possibilities of an exchange rate risk hedging. In its theoretical part the diploma thesis generally describes issues of the international trade, China, the Chinese yuan, the exchange rate risk and the hedging. In its practical part the work models and analyses three business transactions in the Chinese yuan for the purpose of analysis of the exchange rate risk using fictitious companies and a simulation of their management behaviour including making wrong steps. Next, the work analyses a hedging offer from banks and non-banking companies in the Czech Republic. Based on the findings, the diploma thesis proposes if and how the fictitious companies should use the exchange rate risk hedging in order to minimalize an exchange rate loss and suggests the path leading to the exchange risk management optimization of companies for example using sophisticated risk management methods or entering the financial markets. Last but not least, modelled transactions are tested by E-start application in order to propose an optimization in case of using of the application by fictitious companies.
Trading on the forex exchange market
DOLEŽÁLKOVÁ, Markéta
A market, that is open 24 hours a day, 5 days a week. The most liquid financial market in the world. Each day, deals worth 6 trillion USD are being closed there. Under all this, we can imagine market which is Forex. As of today, more and more people have access to it. To enter this market, it is necessary that the future trader has the courage to take risks. Forex trading is a risky business, so it is important that traders are sufficiently prepared and patient. To achieve profit, it is important to have discipline, initial capital and enough experience. The bachelor thesis focuses on specifying appropriate opportunity to enter business position and on the calculation of profit and loss. The purpose of this Bachelor thesis is to clear up the problematics of foreign exchange on monetary markets and the application of technical analysis instruments on Forex market. This topic is very interesting and it is convenient to get more information about it, since it can undoubtedly be used in the future. Everything mentioned in this work can be used on any market, be it stock market, commodities market and so on. All markets operate similarly and the principle of trading is almost identical.
Factors influencing the development of exchange rates with a focus on the economy of Czech republic
PÁLINKÁS, Peter
The bachalor thesis deals wirth the basic terms about an exchange rate, for example like the systems of exchange rates or the definition of terms of trade. There is described also the historical development of foreign trade until now, when it is the key item of global economy. The second part is practical, where is fundamental analysis of the czech crown in time intervallum from 2010 until 2019. There is two chosen currency pairs, the EUR/CZK and the USD/CZK. The second part of the practical part of bachalor thesis is looking for impacts on foreign trade with the help of chosen theories of determination of an exchange rate. For the analysis were chosen these theoris - absolute version of the purchasing power parity, relative version of the purchasing power parity, the index ERDI and the theory of current account payments.
Alleged Chinese Currency manipulation: the case of Yuan in relation to the USD from 2005 to 2020
Belon, Sander ; Semerák, Vilém (advisor) ; Macháček, Vít (referee)
Currency manipulation has been an increasingly infamous studied topic espe- cially since the US accusation of Chinese currency manipulation in the sum- mer of 2019. Such accusations raise the question as to what extend the Chi- nese RMB exchange rate might be considered misaligned. This paper seeks to identify grounds of the accusation of currency manipulation by applying the Behavioural Equilibrium Exchange Rate Model (BEER) to indicate possi- ble misalignment. Annual data from 1980 to 2019 is employed for which this paper will emphasize on the period of 2005 to 2019. The utilised Johansen co-integration test and the Vector Error Correction Model (VECM) suggest a consistent undervaluation of the RMB exchange rate from 1980 to 2019. Such undervaluation ranges from -4.623% to -2.016% with a mean undervaluation from 2005 to 2019 of -2.464%. JEL Classification F12, F21, F23, H25, H71, H87 Keywords Behavioural Equilibrium Exchange Rate, Currency Manipulation, Vector Error Correction Model, China, Renminbi Title Alleged Chinese currency manipulation: the case of the Yuan in relation to the USD from 2005 to 2020. Author's e-mail sander@belon.be Supervisor's e-mail vilem.semerak@fsv.cuni.cz rozmezí od -4,623% do -2,016% s průměrným podhodnocením od roku 2005 do roku 2019 ve výši -2,464%.
Annual Report - Czech national bank 2021
Česká národní banka
The annual report summarizes the CNB's activities for the year 2021. It is focused on the activities of the CNB, the management and the organization of the CNB, and even on its relations with the public.
Fulltext: Download fulltextPDF; Download fulltextPDF
Annual Report - Czech national bank 2020
Česká národní banka
The annual report summarizes the CNB's activities for the year 2020. It is focused on the activities of the CNB, the management and the organization of the CNB, and even on its relations with the public.
Fulltext: Download fulltextPDF; Download fulltextPDF
Annual Report - Czech national bank 2019
Česká národní banka
The annual report summarizes the CNB's activities for the year 2019. It is focused on the activities of the CNB, the management and the organization of the CNB, and even on its relations with the public.
Fulltext: Download fulltextPDF; Download fulltextPDF

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