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A Critical Analysis of Eurozone Expansion Possibilities
Antal, Dominik ; Sághy Estélyi, Kristína (referee) ; Škapa, Stanislav (advisor)
Diplomová práce se zaměřuje na kritickou analýzu rozšíření Evropské měnové unie - Eurozóny, s důrazem na to, které ekonomiky jsou vhodní potenciální kandidáti a podmínky jejich připojení, s pro makroekonomický užitek měnové unie. Práce bere na zřetel rozlišení pohledu na Eurozónu z úrovně ekonomiky členského státu Eurozóny a EU jako celku, a také z makroekonomického pohledu globální ekonomiky. Práce má záměr sloužit jako prostředek pro ekonomické rozhodování na úrovni Evropské Unie zaměří se na racionální zvážení možností v rámci kompetencí a návrhy pro směrování do budoucna.
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Komunikace jako nástroj monetární politiky ČNB
Avramov, Dominik
Avramov, D. Communication as a tool for monetary policy of ČNB. Bachelor thesis. Brno: Mendel University, 2023. Central bank communication is a hot topic because, in a world where in-formation travels at the speed of light, it is in the interest of central banks that their monetary policy is properly understood and does not spread uncertainty. The thesis will focus on the period 2016-2020, during which the Fed, BoE and ČNB changed their key rates in an attempt to tighten monetary policy. The text summarises the current understanding of central bank communication and then analyses three central banks to use the comparison to improve the ČNB's current communication strategy.
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The Czech National Bank, its legal position and scope of activities
Filípková, Olga ; Bakeš, Milan (advisor) ; Kohajda, Michael (referee)
The Czech National Bank, its legal position and scope of activities This diploma thesis evaluates the legal position and scope of activities of the Czech National Bank through the analysis of the current legislation, literature and other sources. Partial aspects affecting the legal position and activities of the Czech National Bank are described separately, but due to their mutual connections it is important to see them as a part of the whole context. The thesis also points at questionable issues and offers both expert's as well as author's attitudes. This diploma thesis is divided into five chapters. The first chapter characterizes central banking itself, defines the role of the central bank in the banking system, shows the differences in conception of central bank and outlines the methods of establishing of central banks. The second chapter briefly describes the evolution of central banking in our country, focusing on the importance of historical events, which contributed to the creation of the Czech National Bank, as we know it today. Historical excursion begins with a period of Austro-Hungarian Empire and continues to the present. The third chapter consists of logically organized overview of particular aspects of the legal position of the Czech National Bank, including relations with other...
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Central bank communication and exchange rates: High-frequency evidence
Suntychová, Petra ; Horváth, Roman (advisor) ; Komárek, Luboš (referee)
The GARCH analysis has been used to estimate the effect of central banks' announcements, posted on their official websites, on demands for the curren- cies they are taking care of, with a focus on the type of announcements re- leased. The announcement specifics observed were past-looking statements, and forward-looking statements, whether they were announcing a monetary policy, financial stability, or commenting on a political situation. The results have shown that announcements made by central banks, both European Central Bank and Czech National Bank, mostly have not significantly affected demands for their respective currencies with certain exceptions. Also, the results suggest that demand for the Euro currency is being affected by these announcements with a longer lag, and announcements made by the European Central Bank are having less impact than those of its Czech counterpart. Overall, it has been concluded that announcements posted on official websites are affecting currency demands less than other influencing factors. JEL Classification F12, F21, F23, H25, H71, H87 Keywords central bank, exchange rate, foreign exchange, GARCH Title Central bank communication and currency de- mand: GARCH Analysis
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Bankovní rizika spojená s poskytováním hypotečních úvěrů v kontextu vývoje cen nemovitostí
Vyhnálková, Petra
The bachelor thesis "Bank's risks interconnected with rendition of mortgage loans in connection with the development of real estate prices" is created with the goal of definition of the demands on controlling bank's risks considering their affection by the development of real estate prices. Firstly, there are theoretically identified bank's risks. Further, there is placed an analysis of price development on the real estate market and how the development influences certain bank's risks. At the end of the thesis, there are mentioned recommendations for banks in an effort to minimize the risks.
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Forex interventions of CNB in front of the door to Eurozone
Kadlec, Tomáš
Kadlec, T. Forex interventions of CNF in front of the door to Eurozone. Di-ploma thesis. Brno: Mendel University, 2015. This thesis study the foreign exchange intervention of Czech National Bank, launched in November 2013. Under the circumstances have been chosen to use the Marshall-Lerner condition which finds the economy suitable for cur-rency devaluation or not. For reach this goal have been calculated regression analysis with two alternative results for calculating the condition. In the first alternative, full Marshall-Lerner equation, could not be satisfaction of condi-tion proven, but nor was dissatisfaction. In the second one, where was import of Czech Republic calculated with zero value according to regression analysis result, was the condition satisfied. Results have been compared with numbers from United Kingdom and found opposed. In comparison to Slovak Republic was found Czech development of macroeconomic indicators better.
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