The article summarizes the main points discussed at the seminar on Monetary Policy during Very Low Inflation, held by the Czech Economic Association in June 2003. There were two main speakers at the seminar. The first was Jan Frait (Czech National Bank), who summarized the main ideas of...

This paper examines definitions and assessments of central bank aggressiveness. It shows theoretical reasons why there is certain minimal threshold value if CB wants to stabilize price level and on the other hand, why excessive reactions are suboptimal. The empirical part suggests that...

The paper discusses the phenomenon of long-term real equilibrium appreciation of the koruna in the context of economic, i.e. nominal and real convergence. The real appreciation can take place either through a nominal exchange rate channel or through inflation differential channel vis-á-vis the...

The article contains a general analysis of the exchange rate convergence process of EU and eurozone-candidate countries. Emphasis is given to an analysis of the exchange rate policy of member states within the ERM/ERM2 mechanism (beginning several years before the introduction of the euro) and...

The article contains a general analysis of the exchange rate convergence process of EU and eurozone-candidate countries. Emphasis is given to an analysis of the exchange rate policy of member states within the ERM/ERM2 mechanism (beginning several years before the introduction of the euro) and...

The article is a general analysis of the exchange rate convergence process for EU and Eurozone candidate countries. The introduction states that exchange rate strategies of candidate countries have to be consistent with the „acquis communataire“ from beginning to end. For these countries,...

The paper contains a general analysis of the exchange rate convergence process of new European Union member states and candidate countries. Following an introduction, we discuss exchange rate strategies applied during periods of economic transition. Emphasis is given to a hypothetical evaluation...

The article discusses the relationship between monetary policy and price of oil, in broader sense price of commodities. Firstly it focuses on describing the relationship of key macroeconomic variables, gas prices and other commodities against oil prices. Subsequently, it discusses the existence...