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The risk of currency crisis in the period of participating in exchange rate mechanism ERM II

Helísek, Mojmír - In: Politická ekonomie 2008 (2008) 3, pp. 380-403

In the course of exchange rate development history of the countries taking part and evaluated in ERM or ERM II before … contagion, secondly there are specifics connected directly with taking part in ERM II (wrong configuration of the central parity … in ERM II is a suitable application of the model. Under specific conditions, when taking part in ERM II should trend to …

Persistent link: https://www.econbiz.de/10008754971

Financial Crisis Prediction: Specification of Pre-crisis Periods in Turkey, Argentina and Thailand

Hájek, Petr - In: Acta Oeconomica Pragensia 2005 (2005) 1, pp. 57-69

In this article is studied hypothesis, that every period (time interval) before financial crisis is distinguished by co-movement of several variables. The study is based on monthly data (that means no quarterly data, like portfolio investment, were used). This hypothesis, tested with vector...

Persistent link: https://www.econbiz.de/10005036383

Impact of the Current Economic Crisis on the Institutional Layout of Global Economy

Jiránková, Martina; Hnát, Pavel - In: Acta Oeconomica Pragensia 2010 (2010) 5, pp. 3-19

Even though the efforts to foster global economic governance have been a longstanding issue of global economic policies, their effectiveness has been questioned by the current crisis. The crisis has revealed many systemic issues that would require global solutions on the one hand, but on the...

Persistent link: https://www.econbiz.de/10008784822

Teorie optimálních mìnových zón: rámec k diskuzím o monetární integraci

Horváth, Roman; Komárek, Luboš - In: Czech Journal of Economics and Finance (Finance a uver) 52 (2002) 7-8, pp. 386-407

The authors contend that the theory of optimum currency areas (OCA) provides a useful framework for discussions of monetary integration. The authors summarize the historical development of monetary integration and discuss possible future development. Theoretical issues, such as those raised in...

Persistent link: https://www.econbiz.de/10008495720

The New ECB Governing Council Voting-Modalities Scheme: An Outside View

Procházka, Petr - In: Czech Journal of Economics and Finance (Finance a uver) 54 (2004) 3-4, pp. 117-137

With the accession of 10 new European Union member states in May 2004, much attention is being placed on the governance of European Community institutions. This article focuses specifically on discussions of European Central Bank (ECB) governance, particularly as regards the ECB?s amendment of...

Persistent link: https://www.econbiz.de/10008495764

Monetary Policy of the European Central Bank and Its Theoretical Resources in the View of Postkeynesian Economy

Sojka, Milan - In: Politická ekonomie 2010 (2010) 1, pp. 3-19

The paper deals with the monetary policy of the European Central Bank and its effects on economic development of the Czech economy and other new members of EU from the perspective of Post-Keynesian monetary economics. In the first part the basic principles of contemporary Post-Keynesian monetary...

Persistent link: https://www.econbiz.de/10008509957

Independence versus accountability of the European central bank - is there any solution?

Kvizda, Martin - In: Politická ekonomie 2005 (2005) 5, pp. 617-633

The article is concerned with analysis of independence of central banks of the EU Member States within the framework of the ESCB, as well as independence and responsibility of the ECB, and suggests an alternative institutional embodiment of its position, reflecting the specific framework of the...

Persistent link: https://www.econbiz.de/10005036607

From PPP to Natrex - the Case of Czech Crown

Škop, Jiří; Vejmělek, Jan - In: Politická ekonomie 2009 (2009) 3, pp. 323-343

The exchange rate cannot significantly diverge from a (real) long-term equilibrium level consistent with the macroeconomic picture of an economy for a long period of time; otherwise, the economy suffers from macroeconomic imbalances such as below-potential growth and below natural employment, or...

Persistent link: https://www.econbiz.de/10005103172

Central Bank´s Foreign Exchange Reserves Accumulation and Dynamics of Banking System Liquidity Absorption: The Case of the Czech Republic, Poland and Hungary

Brůna, Karel - In: Politická ekonomie 2010 (2010) 6, pp. 723-746

The paper deals with accumulation of foreign exchange reserves of central banks and its consequences in banking system liquidity management. In theoretical part the case of banking system liquidity surplus is analyzed focusing on creation of liquidity through FX operations, sterilization of...

Persistent link: https://www.econbiz.de/10008802572

Transmisní mechanizmus mìnové politiky na poèátku 3. tisíciletí

Šmídková, Kateøina - In: Czech Journal of Economics and Finance (Finance a uver) 52 (2002) 5, pp. 287-306

Tøi dùležité výzvy: zavádìní nových strategií mìnové politiky, vypozorované odlišnosti v prùbìhu finanèních krizí mezi rozvinutými a rozvíjejícími se ekonomikami a vznik EMU ? napomohly v poslední dekádì posunout úvahy o transmisním mechanizmu mìnové politiky....

Persistent link: https://www.econbiz.de/10008495758