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The stabilization mechanism of ultra short-term interest rates in the context of Czech national bank's repo tenders

Brůna, Karel - In: Politická ekonomie 2005 (2005) 4, pp. 459-476

Effectiveness of actual monetary policy depends on the ability of central banks to stabilize the fluctuations of … interbank market (2001 - 2004) in the context of excess liquidity. Some structural changes in interbank market were found … - undershooting of non-stability of excess liquidity and decline of overnight interest rates volatility due to new possibility of …

Persistent link: https://www.econbiz.de/10005036651

Monetary Policy: Old Lessons and New Challenges

Zamrazilová, Eva - In: Politická ekonomie 2011 (2011) 1, pp. 3-21

incorporate banks and financial frictions into monetary policy modelling framework - therefore some new findings on this field of …

Persistent link: https://www.econbiz.de/10008876466

Seignorage and Central Bank Finance

Holub, Tomáš - In: Czech Journal of Economics and Finance (Finance a uver) 51 (2001) 1, pp. 9-32

more than consumed by the central bank?s opportunity costs from holding foreign exchange reserves (associated with the …

Persistent link: https://www.econbiz.de/10008549697

Interest rate differentials and the debt in the euro-zone

Kubíček, Jan - In: Politická ekonomie 2006 (2006) 6, pp. 816-833

The paper deals with unintended consequences of the monetary union for the level of debt in the member countries of the eurozone. First, it is shown that there exist systematic inflation and real interest rate differentials among the member countries. These differentials reach up to 3 percentage...

Persistent link: https://www.econbiz.de/10005036596

A Comparison of New Consensus as a Theoretical Framework of Inflation Targeting with Post-Keynesian Economics

Korda, Jan - In: Politická ekonomie 2010 (2010) 1, pp. 92-104

The article deals with the relationship of post-Keynesian economics to new consensus as a theoretical framework of inflation targeting. First, new consensus with its roots in Wicksell´s approach is briefly introduced. In the next parts differences and meeting-points of new consensus and...

Persistent link: https://www.econbiz.de/10008602649

Market liquidity risk and its incorporation into value at risk

Strnad, Petr - In: Acta Oeconomica Pragensia 2009 (2009) 2, pp. 21-37

, they focus only on pure market risks without taking into account the market liquidity. As a consequence, they underestimate … the total risk. This paper focuses on the importance of market liquidity and describes ways to integrate it into the VaR …

Persistent link: https://www.econbiz.de/10005079050

Porovnání pøežívajících a zanikajících podnikù v èeské ekonomice na konci 90. let

Hlaváèek, Jiøí; Hlaváèek, Michal - In: Czech Journal of Economics and Finance (Finance a uver) 52 (2002) 9, pp. 502-514

Autoøi se ve svém èlánku pokoušejí odpovìdìt na otázku, zda proces eliminace neperspektivních firem napomohl oživení èeské ekonomiky na konci 90. let. Pro rok 1999 prokázali vysokou míru podobnosti provozních výsledkù (produktivita práce, pøidaná hodnota na zamìstnance,...

Persistent link: https://www.econbiz.de/10008549725

Learning Process and Transparency of Central Bank

Holinka, Tomáš - In: Politická ekonomie 2010 (2010) 4, pp. 458-470

Learning process is a new approach of filling the gap between adaptive expectations and rational expectations. Private agents are learning new information and adjust their expectation about the inflation and output gap. Central bank transparency is one of the key factors of learning by private...

Persistent link: https://www.econbiz.de/10008564640

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

system liquidity needs and to cover issued currency in circulation and bank´s reserves by net foreign assets. In empirical …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 …

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

Dynamic model of uncovered interest rate parity (theory and empirical verification in the transitive economies)

Durčáková, Jaroslava; Mandel, Martin; Tomšík, Vladimír - In: Politická ekonomie 2005 (2005) 3, pp. 291-304

The paper presents a dynamic approach to the theory of uncovered interest rate parity. It is examined the dynamic relation between the actual change in spot exchange rate and interest rate differential. Authors show the hypothesis of uncovered interest rate parity is based on an ex ante view and...

Persistent link: https://www.econbiz.de/10005036609

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