Home > Search Results: keywords:"menová únia"
Search:
 
Search Tips :: Simple Search
Search collections:
Sort by: Display results: Output format:
National Repository of Grey Literature 2 records found  Search took 0.00 seconds. 
Current Accounts in Monetary Union: The Role of Euro, Fiscal Policy and Financial System
 Olešňaník, Tomáš ; Baxa, Jaromír (advisor) ; Švarcová, Natálie (referee)
This thesis examines the implications of euro for current account balances of countries using it. First, we summarize the main theoretical and empirical findings about determinants of current account deficits and possible implications of monetary union. Second, an empirical analysis of possible effects of single currency on current account is presented. We employ time-specific fixed effect estimator, corrected for possible endogeneity between fiscal policy stance and current account deficits. Our results support hypothesis of certain impact on current account balances as such. We also document positive effect of single currency on gross saving and investment rates. Our regression indicates that the role of fiscal balance and financial sector increased with introduction of single currency therefore implying less Ricardian behavior of private sector in eurozone. We further examined eventual break in the relationship between fiscal and current account balances suggesting that eurozone economies tend to become less Ricardian. Powered by TCPDF (www.tcpdf.org)
Detailed record
Current accounts in monetary union: Did Euro cause a shift?
 Olešňaník, Tomáš ; Baxa, Jaromír (advisor) ; Švarcová, Natálie (referee)
This thesis examines the implications of Euro on current account balances of countries using it. First, we summarize the main theoretical and empirical findings about determinants of current account deficits and possible implications of monetary union. Second, an empirical analysis of possible effects of single currency is presented. We employ time-specific fixed-effect estimator, corrected for possible endogeneity between fiscal policy stance and current account deficits. Our results do not support the hypothesis of any impact on current account balances as such, however we document positive role of single currency for gross saving and investment rates. We further examined eventual break in the relationship between fiscal and current account balances. Our regression indicates that the role of fiscal balance as determinant of current account transactions increased with introduction of single currency therefore implying less Ricardian behaviour of private sector in Eurozone. Keywords current account, monetary union, fiscal balance, shift Author's e-mail tomas.olesnanik@gmail.com Supervisor's e-mail jaromir.baxa@centrum.cz
Detailed record

Interested in being notified about new results for this query?
Subscribe to the RSS feed.
Digital Repository :: Search :: Submit :: Personalize :: Help
Powered by Invenio v1.1.2
Maintained by admin.invenio@techlib.cz
This site is also available in the following languages:
Česky  English