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What is the Way to Price Stability: Centralization or Liberalization of Banking Sector
Koldus, Miroslav ; Kapinusová, Jana (advisor) ; Štěpánek, Pavel (referee)
This thesis seeks to find an optimal structure for the banking sector from the perspective of price stability, defined as monetary prices that reflect consumer preferences. By comparing the common characteristics of central and free banking theories, four key areas will emerge and will constitute a background for comparative analysis. The key argument in the analysis is a comparison of the relationship between money supply and the information capability of monetary prices across both theories. The result of this analysis will be four conditions for achieving price stability, which together will answer the primary question of this thesis: Which of the two concepts offers better guarantees for price mechanism functioning?
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Financial stability in terms of the Czech republic
Hustolesová, Lucie ; Čermáková, Klára (advisor) ; Sedláček, Petr (referee)
This bachelor thesis is supposed to evaluace financial stability in terms of the Czech Republic. To evaluace financial stability, I adopted three criterions from the economist Frederic S. Mishkin, which are in correspondence with financial stability's assumptions of the Czech national bank. These criterions are 1. the price stability, 2. the coordination of monetary and fiscal policy and 3. the bank sector supervision. I use tools of regression analysis as well as datas international comparison. I evaluate all three assumptions gradually and consecutively I draw a conclusion about financial stability of the czech economy based on the criterions' state of fulfilment.
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Common and different aspects of monetary policy in Austria and Czechoslovakia in the years 1918-1929
Middeldorp, Markéta ; Doležalová, Antonie (advisor) ; Koderová, Jitka (referee)
The main thesis of this paper is to identify and describe the common and different aspects of the monetary policies of Austria and Czechoslovakia in the years 1918-1929, as one of the possible determinants of post-war economic development of both countries. As the successor states to the Austro-Hungarian monarchy both countries faced the same currency problems, although Czechoslovakia was on the winning side and Austria on the losing side, which determined the economic conditions in both countries in their beginnings. To address monetary issues each country had a different approach, while for example Austria experienced post-war hyperinflation Czechoslovakia executed the first wave of deflation. Despite the successes of the Czechoslovak economy in the period under review, only by comparing them to Austria showed that against all odds the economic performance of Austria was better. One of the possible causes was a different implementation of monetary policy, which is the central theme of this paper. Although the two countries are once again "reunited" in the European Union, their mutual relations are still impeded by specific problems whose origins can also be traced to the interwar period.
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History and monetary policy of Banque de France
Hejda, Josef ; Koderová, Jitka (advisor) ; Čech, Tomáš (referee)
This work aims to bring readers the relatively in the Czech Republic unknown issue of central banking in France. During the 210 years-long history of operation of the Banque de France has been quite a substantial development of its legal status and monetary policy, which the author tries to show. As part of this development is also described the participation of France and its central bank in the international monetary integration, in which helping shape this country very much involved. In addition, this work deals with the circumstances and ways of creating a modern French monetary policy making, and being represented by the Banque de France as part of national economic policy as part of a supranational European System of Central Banks. The work complements the analysis of the current state of the French economy from the perspective of the Banque de France.
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Free banking versus central banking
Žulavský, Jaroslav ; Vostrovská, Zdenka (advisor) ; Ježek, Tomáš (referee)
The objective of the Bachelor's thesis is to describe and to clarify the method of monetary policy management in using Free Banking as compared to the central banking. The introduction deals with the history of central banking stressing the history aspects of Bank of England. The theory part focuses then on the main topics, namely the aspects of use of the Free Banking within the actual economy policy. The history background of Free Banking is set in Scotland in the period from the end of the 17th Century to the first half of the 19th Century. The chapters on theory are followed by analytical part. The thesis will focus on the description of the Free Banking in the current environment. Advantages and drawbacks of Free Banking used in the monetary policies will be compared. The final objective of the thesis is to draw conclusions about the option to use the Free Banking within the Czech banking environment. Implementation efforts shall include also questions dealing with the potential advantages or problems of implementing Free Banking in the Czech Republic.
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Monetary Policy of the Federal Reserve System in 2007-2010
Tóthová, Jana ; Koderová, Jitka (advisor) ; Dohányos, Vojtech (referee)
The thesis describes the chain of causation that leads from the causes of the financial crisis over its consequencies towards the reactions of the Federal Reserve System. After the consequencies of the Crisis have been identified, the author deals in detail with the measures taken -- with their characteristics and the way they function. Afterwards, the author evaluates efficiency of these meausures and describes the role they played in the overall attitude of the Federal Reserve System to handling the Crisis.
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Comparison of the U.S. banking system and the Czech Republic
Justová, Sandra ; Půlpánová, Stanislava (advisor)
This thesis describes the banking system in the United States and the Czech Republic. The first chapter portrays the historical development of banking in these countries and the overwhelming attention paid to the emergence of central banking of the country. The next two chapters, introduces the work of the current U.S. banking and the Czech Republic, where it focuses specifically on central banking, commerce and the regulation and supervision of banks. At the end are set sighted differences between banking systems and overall assessment.
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The role of the Czech national bank after the accession of Czech republic to the monetary union
Dráská, Johana ; Ježek, Tomáš (advisor) ; Dočkal, Dalibor (referee)
The accession to the European Monetary Union is fundamentally changing the role of the Czech national bank. Aim of this work is to describe and evaluate this new role of the CNB in connection with the transfer of its former powers to the ECB. The theoretical part of the work deals with the role of central banking in general, the role of the CNB before the accession to the EMU and the role of ECB in monetary union. The work reviews compliance with the conditions required for the accession to the EMU. Further it focuses on the analysis of CNB monetary policy in recent years, particularly its interest rates policy. In view of the future situation in the field of monetary policy the work draws on the experience of Slovakia after its entry into the euro zone and respondes to the question of whether uniform monetary policy is equally applicable to all member states of the euro area by using the Theory of Optimum Currency Area. The work also analyzes the actions of the ECB and the CNB caused by the current economic crisis.
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What Has Government Done to Our Money : Do we necessarily need the Central Bank?
Jandová, Daniela ; Antoš, Ondřej (advisor) ; Štěpánek, Pavel (referee)
Based on inspiration of F. A. Hayek's book "Denationalisation of Money" and a book "What Has Government Done to Our Money" written by Murray N. Rothbard, this work wants to show how can a market with several currencies work. These authors from Austrian school introduce little controversial and for many people unimaginable theme to have banking system without the key role of Central Bank. This also closely related with Hayek's reason of business cycle, which he find in continuous interference with monetary reserves. The work controverts a topic, if it is not just the central banks and a system, which allows fiducially issue money, which caused the actual crises. The point, if a monetary policy of central banks has only caused fluctuations of economy, is still actually. This baccalaurean work deals with questions like: How did the Government interfere with sphere of money? Should we leave the Gold Standard? Would a competition between banks issuing their own currencies work? and many other.
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Evolution activity of National bank of Slovakia
Líra, Marián ; Zeman, Karel (advisor) ; Řežábek, Pavel (referee)
Chosen thesis of evolution activity is very attractive for me from the view of forming the central bank as the independent financial institution of the country. In the theoretical part I will show definition of central bank and I will tell its general functions, aims and duties. Then I will discuss attitude of the central banks from the historical point of view and I will introduce the central banks in the world. In the analytical part I will describe the State bank of Czechoslovakia as base condition for founding NBS ( National bank of Slovakia ). I will examine for terms which led to its establishment, its organization system and changes in the field od activity. I will analyze changeovers in functions and aims which were caused in the action of new money Euro, introduced as new legal tender in the Slovak Republic. The aim of the thesis is to examine and result the most important changes of atributions of NBS during 20 years from setting market economy rules in the Slovak area until its incorporation into the European central bank.
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