National Repository of Grey Literature 7 records found  Search took 0.00 seconds. 
A Macroeconomic Forecasting Model of the fixed exchange rate regime for the oil-rich Kazakh economy
Hlédik, Tibor ; Musil, Karel ; Ryšánek, Jakub ; Tonner, Jaromír
This paper presents a semi-structural quarterly projection open-economy model for analyzing monetary policy transmission and macroeconomic developments in Kazakhstan during the period of the fixed exchange rate regime. The model captures key stylized facts of the Kazakh economy, especially the important role of oil prices in influencing the economic cycle in Kazakhstan. The application of the model to observed data provides a reasonable interpretation of Kazakh economic history, including the global crisis, through to late 2015, when the National Bank of Kazakhstan introduced a managed float. The dynamic properties of the model are analyzed using impulse response functions for selected country-specific shocks. The model’s shock decomposition and in-sample forecasting properties presented in the paper suggest that the model was an applicable tool for monetary policy analysis and practical forecasting at the National Bank of Kazakhstan. In a general sense, the model can be considered an example of a quarterly projection model for oil-rich countries with a fixed exchange rate.
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The impact of CNB's exchange rate commitment on Czech exports
Teichman, Jiří ; Paulus, Michal (advisor) ; Baxa, Jaromír (referee)
The thesis evaluates the effect of Czech National Bank's exchange rate commit- ment on Czech sectoral exports. Thus, we show how unconventional monetary policies could affect the exports. To assess the impact of interventions, we use Synthetic Control Method. The method constructs synthetic Czech exports from data of comparable countries that were not under the policy of inter- est and compares them to observed Czech exports following the interventions. We expect a positive effect of Czech National Bank's commitment on Czech exports, because the interventions resulted in the undervaluation of koruna causing a higher demand for Czech goods abroad. Additionally, the exporters should benefit from reduced uncertainty caused by no exchange rate volatility with the euro area. The results showed a positive impact of interventions only in half of the export sectors. The positive effect of a stable exchange rate is not confirmed, because the effect on the euro area countries in some categories was smaller than for the other countries. The results for total sectoral exports were stable across model specifications and confirmed by analysis of Czech bi- lateral sectoral exports to the largest destinations. The significant contribution of this thesis is application of Synthetic Control Method on total sectoral...
Monetary regimes and global imbalances: the case of China
Nguyenová, Ngoc Anh ; Hnát, Pavel (advisor) ; Žamberský, Pavel (referee)
The thesis deals with the exchange rate policy of the People's Republic of China. The objective is to evaluate the effect of exchange rate policy on the current account balance and the monetary policy. The theoretical part of the thesis outlines basic concepts of the foreign exchange market and relevant theories. The following section deals with the evolution of exchange rate policies. The final part is devoted to the analysis of influence of renminbi exchange rate on current account deficit and monetary policy. When assessing the impacts of renminbi exchange rate on monetary policy, open market operations and reserve requirements of banks can be considered as a vital tool of monetary policy of China. The central bank employs interest rate adjustments as a secondary instrument of the Chinese monetary policy.
Foreign currency in accountancy
Němcová, Adéla ; Janhubová, Jaroslava (advisor)
The main theme of this bachelor thesis is the foreign currency in accountancy and the elimination of exchange rate losses. The thesis is divided into theoretical and practical part. In the theoretical part the most common items used in a company and the specifics of bookkeeping are desribe. The practical part includes researching what type of the exchange rate methods in bookkeeping is better and the elimination of exchange rate losses in a particular company.
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.
Bretton Woods Monetary System
Erlichová, Linda ; Kovář, Martin (advisor) ; Tumis, Stanislav (referee)
Bretton Woods system has never been a main topic of Czech economic literature even though it strongly influenced finance of the most developed countries between 1944 and 1971 (1973). This diploma thesis is an attempt to analyze this important historical phenomena in international finance and the last metal oriented system in the history. The first chapter brings the most important terms and definitions that are necessary for better understanding of this problem. It is followed by chapters analysing international finance development in this area starting with the interwar period, followed by creation of Bretton Woods Monetary System in 1944 and first very successful and hopeful years that finally came to an end with accumulation of more problems that put a strain on the system such as for instance creation of long term dollar deficits by United States. This paper also analyzes the most important problems, finds similarities between Bretton Woods System and European Monetary System and tries to answer a question if this system or any monetary system like that can be successful on a long term basis.
The Bretton Woods monetary system 1944 - 1973
Klouček, Michal ; Mikulec, Tomáš (advisor) ; Zeman, Karel (referee)
Brettonwoodský měnový systém a jeho instituce MMF a SB představuje důležitou kapitolu v dějinách ekonomického vývoje. Má práce se zabývá nejprve okolnostmi a příčinami, které vedly ke konferenci roku 1944, kdy byl brettonwoodský systém ustanoven. Další část práce charakterizuje hlavní principy brettonwoodského systému, jejich postupný vývoj v historii tohoto systému a dopady na světovou ekonomiku. Následující část popisuje slabiny měnového trhu, které brettonwoodský systém za dobu své existence pomohl odhalit. V poslední kapitole popíše příčiny rozpadu systému, odpovídá na otázku, zdali se tomu dalo zabránit a popisuje důsledky rozpadu systému na světovou ekonomiku. V závěru se zamýšlím nad odkazem Brettonwoodského systému pro současnost.

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