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The role of bank management in the European banks' stability during the global financial crisis 2007-2008
Melnychuk, Olena ; Brushko, Iuliia (advisor) ; Červinka, Michal (referee)
During the crisis of 2007-2008, many banks had to improve their management because their previous models could not cope with the increase in the number of defaults on mortgage loans and new risks produced by credit derivatives. The goal of this study is to define what factors were the most significant determinants of the stability of large banks of Europe during the crisis of 2007-2008. This study concentrates mostly on the indicators of the management of loan portfolio in major banks of Europe. For this purpose, the thesis uses a balanced panel data of 69 banks in 18 largest European countries during 2006-2009. Furthermore, from the results of tests on the significance of used variables, the model that evaluates the distance from the insolvency for banks is constructed.
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Gold in Central Bank Reserves and Price Stability
Melnychuk, Olena ; Havránek, Tomáš (advisor) ; Dědek, Oldřich (referee)
There is a traditional view that central banks should hold enough gold in their reserves to be considered financially secure and keep low inflation. However, after the fall of the Bretton-Woods system, many central banks have been decreasing its gold reserves by converting gold into other assets and still they do not experience high inflation. This thesis aims to answer the question if gold reserves of central banks indeed positively affect price stability. We use the panel data for 110 countries for the period from 2000 to 2016. We find that there is a significant negative effect of central banks' gold reserves on inflation but only if we control the proxy variables for the financial strength of central banks. Furthermore, the significance holds only for the inflation-targeting countries, there are no significant effects for the whole data sample. JEL Classification: E31, E52, E58, F41, G11, G21 Keywords: Gold reserves, Central Banks, Inflation rate, Price Stability Author's e-mail: 73099909@fsv.cuni.cz Supervisor's e-mail: tomas.havranek@fsv.cuni.cz
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Gold in Central Bank Reserves and Price Stability
Melnychuk, Olena ; Havránek, Tomáš (advisor) ; Dědek, Oldřich (referee)
There is a traditional view that central banks should hold enough gold in their reserves to be considered financially secure and keep low inflation. However, after the fall of the Bretton-Woods system, many central banks have been decreasing its gold reserves by converting gold into other assets and still they do not experience high inflation. This thesis aims to answer the question if gold reserves of central banks indeed positively affect price stability. We use the panel data for 110 countries for the period from 2000 to 2016. We find that there is a significant negative effect of central banks' gold reserves on inflation but only if we control the proxy variables for the financial strength of central banks. Furthermore, the significance holds only for the inflation-targeting countries, there are no significant effects for the whole data sample. JEL Classification: E31, E52, E58, F41, G11, G21 Keywords: Gold reserves, Central Banks, Inflation rate, Price Stability Author's e-mail: 73099909@fsv.cuni.cz Supervisor's e-mail: tomas.havranek@fsv.cuni.cz
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The role of bank management in the European banks' stability during the global financial crisis 2007-2008
Melnychuk, Olena ; Brushko, Iuliia (advisor) ; Červinka, Michal (referee)
During the crisis of 2007-2008, many banks had to improve their management because their previous models could not cope with the increase in the number of defaults on mortgage loans and new risks produced by credit derivatives. The goal of this study is to define what factors were the most significant determinants of the stability of large banks of Europe during the crisis of 2007-2008. This study concentrates mostly on the indicators of the management of loan portfolio in major banks of Europe. For this purpose, the thesis uses a balanced panel data of 69 banks in 18 largest European countries during 2006-2009. Furthermore, from the results of tests on the significance of used variables, the model that evaluates the distance from the insolvency for banks is constructed.
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