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The position and activities of the European Central Bank
Matoušková, Hana ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
The aim of this diploma thesis is to evaluate what influence has the ECB decision-making on the Eurozone economy and above all to consider the ECB's involvement in solving of the recent financial and persisting European debt crisis. First two chapters represent rather a theoretical part of the thesis, in which the author is dealing generally with the importance and the role of the ECB in the course of the European integration, including its origin, its management structure and internal decision-making process. The second chapter focuses in detail on the ECB's tasks and competencies with emphasise mainly on the monetary policy and on the clarification how a so called transmission mechanism enables the measures adopted within the monetary policy to transform into the real economy. There is also more elaborated the primary task of ECB which is to maintain the price stability. The second part of this thesis is more analytical and reflects current trends and development in the EU banking sector with an accent on the ECB's attitudes. The recent financial crisis is discussed in the third chapter together with the new regulatory rules. Financial crisis tend to have some joint characteristics like e.g. the source of their origin that often lies in an excessive and rapid loan expansion, in leverage increase,...
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Czech national bank, legal status and content of activity
Semecký, Petr ; Bakeš, Milan (advisor) ; Kohajda, Michael (referee) ; Karfík, Zdeněk (referee)
disertační práce Petr Semecký Česká národní banka, právní postavení a náplň činnosti 5 Abstract A. Objectives The main goal of the dissertation "The Czech National Bank, legal status and content of activity" is to quantify, qualify and draw as exact as possible conclusions about some aspects of the development, status and activities of the Czech National Bank in the future. To solve this task, the author has used in the introduction of this work three following key questions: 1. What are the implications for the Czech National Bank of the new bodies supervising the financial markets at european level? 2. What are the benefits and negatives of adopting the euro for the Czech Republic and should the Czech Republic actually join the European Monetary Union? 3. What impact will have the amendment of the Capital Adequacy Directive (the "Basel II") on the activities of the Czech National Bank? B. Methods By creating this work was used a wide range of research methods to ensure that there will be drawn conclusions with the best possible informative value. It is possible to mention particularly the method of recherche, abstraction, comparison and synthesis. C. Sources As the most important sources used by creating the work can be mentioned ecpecially, scientific publications, monographs, articles published...
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Inflation Analysis - the Case of the Czech Republic
Korpasová, Kateřina ; Burian, Stanislav (advisor) ; Stará, Dana (referee)
This bachelor thesis focuses on process and development of inflation in the Czech Republic. The study is divided into two parts, when the first one is theoretical. The first part describes inflation in general and its key terms like price level and quantification with price indexes. The study subsequently defines the causes of inception of inflation and the types of inflation, its impact on economy and economy policy. The next, analytical, part focuses practically on the determinants in process of inflation and analyse this proces as well. The study deals with its changing and with causes of these changes. Because the macroeconomic indicators are closely connected, there is also a short evaluation of conditions of unemployment and increasing GDP for each year. The lenght of investigated period is fifteen years and it is from year 2001 to year 2015. Each year is defined more detailed and the causes of changes of the process of inflation are explained. Units of the market basket, which had percentual impact on changes of process of inflation, are also defined for each year.
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Inflation in the Czech Republic
Matýsková, Klára ; Steininger, Michal (advisor) ; Michal, Michal (referee)
The thesis aims to analyze the evolution of inflation in the Czech Republic over the past fifteen years and compare it with the values of inflation Visegrad Group countries, as countries with common characteristics. The research part describes and explains the concepts related to the topic that are necessary to understand the issue. The analytical part is dedicated to specific data on rates of inflation and other selected indicators in the Czech Republic, Poland, Hungary and the Slovak Republic. The conclusion summarizes the most important findings from the data is a solved problem. The average annual inflation rate in the Czech Republic in 2015 was 0,3 %. In the meantime monitored fifteen years the inflation rate ranged from 0,1% to 6,3%. In 2008 was recorded compared to the previous year, an increase of 3,5 p.p. To was due to the anti-inflationary effects that were let up from the impact of the economic crisis.
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The Interaction and Compatibility of Monetary and Macroprudential Policy in the Czech Republic
Pfeifer, Lukáš ; Ježek, Tomáš (advisor) ; Mandel, Martin (referee) ; Czesaný, Slavoj (referee)
The thesis deals with the interaction of monetary and macroprudential policy, or with the compatibility of the objectives of these policies in the Czech Republic. The main attention is given to the use of interest rate instruments for the purpose of achieving financial stability during the accumulation phase of cyclical dimension of systemic risk. For this purpose the crucial item is the relationship of financial and price stability in the economy. On the Czech economy data is therefore tested the relationship between credit activity and asset prices, to be subsequently quantified the relationship between the prices of selected assets and consumer prices. The model results open the door to greater use of industrial producer price index for the coordination of monetary and macroprudential policy. The thesis for the same reason also recommends continuing research into the development of the general price level during the financial cycle.
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The Change of Monetary Policy of the ECB during the Financial and Sovereign Debt Crisis
Zábražná, Adela ; Bič, Josef (advisor) ; Karpová, Eva (referee)
The thesis analyses the change of monetary policy of the European central bank during financial and sovereign debt crisis. Main focus of the thesis is given on the analysis of non-standard measures of monetary policy of the ECB. This thesis explains in detail how the ECB has responded to the various phases of the financial and debt crisis, starting with the period of financial turmoil, continuing with the intensification of the financial crisis and the sovereign debt crisis. Finally, the thesis compares these phases and assesses the impact of these non-standard measures.
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Central bank independence
Ďurík, Peter ; Baran, Jaroslav (advisor) ; Zetek, Pavel (referee)
Aim of my thesis "Central bank independence" is closer detail of central bank independence as one of the factors influencing macroeconomic stability from the long term. Before particular analysis of central bank degree of independence and macroeconomic values relationship, it is necessary to clarify development of central banking. At the end, there is approximated current position of central bank. The thesis is divided into five interconnected and logically follow-up chapters.
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What is the Way to Price Stability: Centralization or Liberalization of Banking Sector
Koldus, Miroslav ; Kapinusová, Jana (advisor) ; Štěpánek, Pavel (referee)
This thesis seeks to find an optimal structure for the banking sector from the perspective of price stability, defined as monetary prices that reflect consumer preferences. By comparing the common characteristics of central and free banking theories, four key areas will emerge and will constitute a background for comparative analysis. The key argument in the analysis is a comparison of the relationship between money supply and the information capability of monetary prices across both theories. The result of this analysis will be four conditions for achieving price stability, which together will answer the primary question of this thesis: Which of the two concepts offers better guarantees for price mechanism functioning?
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Inflation targeting in the Czech Republic compared with the Visegrad countries
Gergelyová, Jana ; Mandel, Martin (advisor) ; Zbyněk, Štork (referee)
This thesis is an analysis of inflation in the Czech Republic and the success of the Czech monetary policy compared with inflation targeting in the Visegrad countries. In the first part, I focused on the development of central banking and the role of central banks, the main actors of monetary policy, in relation to inflation. A common feature of the Visegrad Four is a monetary policy based on inflation targeting. The prediction of inflation compared with its actual development in a period of ten years is subject to the practical part, which is supple-mented by a wide range of graphs and tables that I have mainly compiled from data available on the websites of central banks of individual countries and Eurostat, the European Union statistical office.
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Instruments of monetary and credit policy and their influence on country´s economy
ĎURIŠOVÁ, Jitka
Tha aim of this BA thesis examines how the Czech National Bank carries out its currency policy. It covers the historical roots of the development of the Bank's policy in this field. The aim of the thesis is an examination and analysis of the instruments used by the Czech National Bank. Another aim is, through dealing with the instruments of currency policy, to analyse and evaluate one of the main tasks of the Czech National Bank {--} namely price stability. Particular attention is given to the Bank's special features. The practical part of the thesis is a comparison of the development of the rates of interest with those of the selected commercial bank, CSOB INC.
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