National Repository of Grey Literature 4 records found  Search took 0.01 seconds. 
The Impact of Unconventional Monetary Policy of ECB to Central and Eastern European Countries: A Panel VAR Analysis
Hálová, Klára ; Horváth, Roman (advisor) ; Džmuráňová, Hana (referee)
In this thesis we examine the macroeconomic interactions of unconventional monetary policy introduced by European Central bank during crisis by estimating a panel vector autoregression. We study impact of such policies using monthly data from 13 Central and Eastern European countries within seven-year period from 2008 to 2014. We find a positive reactions of output and prices to expansionary unconventional monetary policy shock. Our results provide evidence that decrease in shadow policy rate of ECB leads to rise in output as well as temporary rise in inflation, however, the effect on inflation is weaker and less persistent. We also find that unconventional monetary policy positively influences market uncertainty, but we do not find any significant effect on exchange rates. Individual country estimates suggest that the reaction of exchange rates to non-standard monetary policy shock significantly vary across countries.
Bank Liquidity Creation and Real Economy: VAR Analysis
Hálová, Klára ; Horváth, Roman (advisor) ; Kruchynenko, Ihor (referee)
In this thesis we examine the interactions of bank liquidity creation and real economy using vector autoregression model. We selected inflation, unemployment rate and interest rate as basic economic variables which theoretically could influence bank liquidity creation. We decided to examine the reverse relationship whether bank liquidity creation has a significant impact on real economy. We study these interactions using data from Czech Republic within ten-year period from 2000 to 2010. Our results suggest that macroeconomic fluctuations have a significant impact on bank liquidity creation. The results also support our reverse hypothesis that higher liquidity creation can improve macroeconomic conditions.

See also: similar author names
2 HÁLOVÁ, Kamila
1 HÁLOVÁ, Karolína
5 HÁLOVÁ, Kateřina
5 Hálová, Kateřina
5 Hálová, Kristina
5 Hálová, Kristína
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