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Monetary policy of NBS and convergence to EMU
Čačková, Anna ; Durčáková, Jaroslava (advisor) ; KUNZ, Tomáš (referee)
Diploma thesis is entitled Monetary policy of NBS and convergence to EMU. Introductory theoretical section describes the development of monetary unions in the past and the causes of their extinction. Subsequently, it is devoted to the foundation of the European Monetary Union in various stages, of its crisis and transition to the ERM II exchange rate system. It characterizes the nominal Maastricht criteria in theory. Following chapters constitute the practical part of the thesis. Chapters 2-4 discuss the monetary policy of the NBS and its roles and objectives. They outline monetary policy of NBS in the individual periods followed by an evaluation of measures and compliance with the main objectives, such as exchange rate stability, inflation targeting and inflation targeting in ERM II. The last chapter discusses the costs and benefits of euro, their comparison and evaluation of the appropriateness of the timing of entry into EMU. Real convergence is emphasised and represented by GDP per capita, the adjustment of price levels, employment and foreign trade. Nominal convergence is represented by Maastricht convergence criteria and their implementation. The development of various criteria is compared with the countries of V4 -- Czech republic, Poland and Hungary. Finally it summarises the overall functioning of the National Bank in the field of monetary policy, the appreciation of the euro advantages and appropriateness of the timing.
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The development of central bank's activity in Czech republic since 1989
Divíšková, Lenka ; Zeman, Karel (advisor) ; Koblovský, Petr (referee)
The aim of this thesis is to analyse central bank's status progress in Czech Republic and its functioning with focus on crucial changes in Czech financial framework since 1989. Reason I chose this topic was that we currently find ourselves in financial and economic crisis, behind which occurrence are logically activities of central banks. Theoretical part is aiming to describe general theory of central banking, determination of banking system and scope, functions and instruments of the central bank. Analytical part is going to describe legislative scope of activities of the Czech central bank since 1989 until now at first. Afterwards, I am going to analyse activities' progress of the central bank in two basic areas, i. e. monetary policy and supervision.
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Měnověpolitické nástroje České národní banky
Pincová, Stanislava ; Burgerová, Jiřina (advisor) ; Štěpánek, Pavel (referee)
This bachelor study analyses the monetary policy instruments, which the Central banks are using, and also Czech National Bank. In this work both direct and indirect monetary policy instruments are described. Also there is a historical development of the preferred indirect instruments, and examples of their application in Czech environment. Last but not least, this paper focuses on this problematic also in the European Central Bank.
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Monetary crises
Abrahám, Pavel ; Burgerová, Jiřina (advisor) ; Řežábek, Pavel (referee)
In this paper the researcher aims to compare monetary crises that took place in Southeast Asia, Russia, Brazil and in the Czech Republic in the 1990s. The first part of the work is primarily focused on the monetary crisis itself. The general causations and consequences of monetary crisis are identified and specific prevention measures are mentioned. In the second part of the paper the progression of the monetary crisis in the four regions chosen is described. Finally, in the third part of the work the roots of the crisis, the government reactions and the consequences for the economy are compared in between these four regions.
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Monetary policy of The Czech National Bank between the years 1993 and 2008
Foksová, Eva ; Pichaničová, Ludmila (advisor) ; Maleček, Petr (referee)
This bachelor thesis deals with the characteristics of monetary policy of The Czech National Bank between the years 1993 and 2008. It describes the contents of monetary policy, its tools and mechanism. It analyses the development of monetary policy of The Czech National Bank, in particular the development of money stock and exchange rate. In the period of transformation of the Czech economy. It deals with reciprocal compatibility of laid out goals, a disharmony of these goals was one of the reasons for moving to new transmission mechanism of inflation targeting. It inquires into impacts of inflation targeting on the real inflation rate. It summarizes the effectivity of monetary policy of The Czech National Bank considering the laid out goals on the basis of found out facts.
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Capital market and compare of the regulation and supervision in the Czech Republic and in the USA
Žemla, Martin ; Písař, Pavel (advisor) ; Ježek, Tomáš (referee)
Bachelor's thesis try to comprehensively describe the creation, development and functioning of capital market in the Czech Republic in the introductory part. It focuses on the integration of regulation and supervision of the financial market in the Czech Republic. It also mention the reasons for regulating the capital market. Describes the basic stages of the current development control system. It focuses on regulators and institutions operating in the U.S. market. In the next section compares the system of regulation and supervision of capital market and describes its advantages and disadvantages. Last but not least, the analytical part of work evaluat, on the basis of three hypotheses, the impact of regulation on the origins and conduct of the financial crisis. In conclusion, summarizes the development and tries to propose solutions in terms of regulation and supervision on the capital market, which would be most appropriate for the capital market.
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Macroeconomic aspects of dollarization
Kolář, Ladislav ; Taušer, Josef (advisor) ; Černá, Iveta (referee)
The dissertation deals mainly with explanation of the term "de jure dollarization" and confronts the dollarization regime with others. The core of the whole dissertation is to outline the factors which indicate fulfillment of dollarization and the positives or negatives that it brings. It slightly refers to the regional monetary integration in several regions and discovers mutual aspects with the dollarization.
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Banking sector of Kazakhstan
Pak, Anastassiya ; Tuček, Miroslav (advisor)
The aim of thesis was to introduce Kazakhstan's banking sector. The work is divided into three main parts. The first part inlcludes brief characteristics of the Kazkhstan's financial sector, the second part describes banking development in Kazakhstan, central bank and commercial banks' activities, risk management methodology, financial market supervision authority. The last part deals with global crisis and the way it has affected Kazakhstan's banking sector.
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Central bank - advantages and risks of its independence
Čech, David ; Janáček, Kamil (advisor) ; Potužák, Pavel (referee)
This work is about central bank independence and about advantages and risks resulted from this position. The beginnig of the work is about history of central banking in the world and in our republic. The next capture is dedicated to the question of necessity of central banks and it uses especially the work of F.A.Hayek. It also describes his suggestion to implement the competition between private issuers of money. The last and the largest chapter is about central bank independence. After the definition of independence, there is a part concerned types of independence, mainly the legal and the actual one. The level of independence can be usually measured by few indexes. The way how to calculate them is also in the text of this work. Final part of the work is aimed on advantages and risks resulting from the independent status of central bank. The main advantage is represented by elimination of time inconsistency problem, on the other hand the main risk is the absence of responsibility of central bank for her policy.
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