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Use of the monetary instruments of the Czech National Bank
Malecha, Martin ; Bažantová, Ilona (advisor) ; Dupáková, Lenka (referee)
Use of the monetary instruments of the Czech National Bank Abstract The aim of the thesis is to chronologically analyze the use of the monetary instruments of the Czech National Bank with emphasis on the issue of changing the primary objective of our central bank in the legislation order and answer the question whether there was a change in the use of the monetary instruments of the CNB or not. The thesis uses mainly descriptive method, analytical method, and comparative method. The sources of this thesis are mainly professional economic publications (professional articles, textbooks), legal regulations, including the case law of the Constitutional Court, and freely available data listed on the website of the CNB or the website of the Czech Statistical Office. The first chapter of my thesis defines the term "Monetary Policy". It theoretically analyses the basic types of the monetary policy and functions. This includes the processes that lead from the use of the monetary instruments to influence the economy. The emphasis here is mainly on explaining the term "inflation targeting" and its use. The second chapter presents the monetary instruments that central banks can use in their monetary policy. The chapter divides monetary instruments into direct and indirect and conventional and unconventional. The third...
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Economic and legal position of the CNB in the environment of inflation and deflation
Husník, Karel ; Bažantová, Ilona (advisor) ; Dupáková, Lenka (referee)
Karel Husník: Economic and Legal Position of the Czech National Bank in the Environment of Inflation and Deflation The aim of this thesis is to analyse the position of the Czech National Bank (CNB) from the legal and economic point of view and to analyse the monetary policy instruments which the central bank can use efficiently in inflation targeting. The primary criterium is macroeconomic environment of inflation, respectively deflation. The thesis newly divides the monetary policy instruments on conventional and non-conventional. The thesis uses multidisciplinary approach, it combines economic and legal point of view. The methodology of this thesis is analysis, description in historical projection and comparation. The laws of the Czech Republic and the documents of CNB, which are available online, are used. Author also worked with data from the Czech Statistical Office and with various economic studies and papers. The first chapter of the thesis analyses position of independent Czech National Bank in its constitutional and lawful position. The Law of the Czech National Bank and the Constitution of the Czech Republic defines the purpose of the CNB and her relationship with other components of state power. The CNB's monetary policy objective is set forth in Article 98 of the Constitution of the...
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Monetary policy and central banking in the Czech Republic
Sloup, Matěj ; Urbánková, Erika (advisor) ; Hrdlička, Pavel (referee)
The subject of my thesis is characteristic of central banking and monetary policy,
conducted by the Czech National Bank in the Czech Republic. The theoretical part is divided
into three main chapters. The first of these chapters describes central banking, indicates its basic
characteristics and functions. The second chapter is more focused on the monetary policy of the
Czech National Bank and its nature. There are also defined the various monetary policy tools
and their use. The third chapter contains a description of basic macroeconomic indicators and
models.
Analytical part is also divided into several chapters that describe several aspects of the
development of the Czech economy in recent years. The first one contains the characteristics of
the Czech economy in terms of sector structure. The second chapter focuses on the development
of key macroeconomic data, the inflation and GDP. The third chapter provides an analysis of
the development of the selected monetary instruments. In the last chapter, the data will be will
evaluated and subjected to paired analysis.
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Development of the monetary political instruments of the Czech National Bank
Faltysová, Zuzana ; Burgerová, Jiřina (advisor) ; Řežábek, Pavel (referee)
This Bachelor thesis reports the characteristics of the monetary policy, its development, objectives, and above all, the financing instruments which are used by the Czech National Bank. It also scrutinizes the independence and the operations of central banks. It also analyses the development of the monetary policy and monetary political instruments since the split-up of Czechoslovakia till today. It is focused on a comparision of the main objectives which the CNB wanted to achieve, and on the real impacts of the measure exposed.
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