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The Czech Economy Development
Dubská, Drahomíra ; Kamenický, Jiří ; Kučera, Lukáš ; Český statistický úřad
The assessment of the CR´s real and monetary economy development in the last period (output of basic industries, GDP, expenditure, income, external economic relations, prices, labour market, money supply, interest rates, state budget).
Fulltext:  PDF
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The Czech Economy Development
Dubská, Drahomíra ; Kamenický, Jiří ; Kučera, Lukáš ; Český statistický úřad
The assessment of the CR´s real and monetary economy development in the last period (output of basic industries, GDP, expenditure, income, external economic relations, prices, labour market, money supply, interest rates, state budget).
Fulltext: PDF
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The Czech Economy Development
Dubská, Drahomíra ; Kamenický, Jiří ; Kučera, Lukáš ; Český statistický úřad
The assessment of the CR´s real and monetary economy development in the last period (output of basic industries, GDP, expenditure, income, external economic relations, prices, labour market, money supply, interest rates, state budget).
Fulltext: PDF
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The Czech Economy Development
Dubská, Drahomíra ; Kamenický, Jiří ; Kučera, Lukáš ; Český statistický úřad
The assessment of the CR´s real and monetary economy development in the last period (output of basic industries, GDP, expenditure, income, external economic relations, prices, labour market, money supply, interest rates, state budget).
Fulltext: PDF
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Exchange rate as an unconventional tool of monetary expansion on the example of The Czech Republic
Purnochová, Barbora ; Brůna, Karel (advisor) ; Kučera, Lukáš (referee)
Recent crisis and economic recession caused in many countries problems with drop in inflation and overall downturn in economic growth. The Central Banks found themselves in so called zero lower bound. This thesis describes the situation of deflation, zero lower bound and liquidity trap. These conditions called for the use of alternative monetary policy tools. The main goal of the thesis is to evaluate the use of foreign exchange rate intervention as unconventional tool in a small open economy with inflation targeting regime represented by the Czech Republic in the analytic part. Thesis examines other non-standard instruments and provides reasons for the Czech National Bank decision. The analysis shows the complexity of the issue and provides the evidence that exchange rate commitment was not displayed to the desired price level. The tool could lead to expected repercussion, but the effect is impacted by factors, which Central Bank cannot control. The effect of the CB way to fight the decreasing inflation will be better shown after the CB exit from the commitment.
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Myths and Realities of Negative Interest Rates
Strach, Jakub ; Jakl, Jakub (advisor) ; Kučera, Lukáš (referee)
This bachelor's thesis examines the issue of negative interest rates with focus on its application within monetary policy. The theoretical part describes important interest rates and their interlinkages. Further it addresses the Taylor rule that often figures as an argument for their implementation. The last chapter mentions breakthrough theoretical opinions on the issue of negative nominal interest rates. The analytical part of the thesis focuses on the situations that would gain from the usage of negative interest rates. It deals with the problem of zero lower bound that hinders said usage and three main proposals how to deal with this problem. Following chapter describes the events of the past years particularly in Europe when the negative interest rates were used by central banks of Switzerland, Denmark and ECB. The closing chapters explain dangerous trends in the conditions of long lasting negative interest rates and obstacles in the legislation.
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