Showing 1 - 10 of 50
The paper considers modern frameworks of public debt management from a credibility perspective. It focuses on the institutional and operational arrangements of effective debt management. In particular, the author seeks to shed light upon the contemporary problems of Czech debt manager compared...
Persistent link: https://www.econbiz.de/10008495823
The author of this paper criticizes the broad, cash-flow based concepts of seignorage that were introduced and emphasized by the economic literature of the 1990s (i.e., fiscal seignorage, total seignorage, etc.), which the author argues are ill justified and confusing. On the other hand, the two...
Persistent link: https://www.econbiz.de/10008549697
The relatively long term period of stability before the present crises called even "Great Moderation" or "Golden Age of Central Banking" indicated that the infl ation targeting was a success story. As of 2008 a lot has changed and the debate over "Leaning against the wind or Clean afterwards?"...
Persistent link: https://www.econbiz.de/10008876466
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
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
The Council of Economic Experts and its influence on the German economic policy are discussed in this paper. The first section concentrates on the institutional background and historical genesis of this body. Consequently, the importance of the Council in preventing a competitive and efficient...
Persistent link: https://www.econbiz.de/10005036640
This paper studies whether the dynamic behavior of real GDP, unemployment and inflation is systematically affected by the timing of elections and by changes of governments in the Czech Republic. Two basic models of political cycles are tested – the political business cycle models and the...
Persistent link: https://www.econbiz.de/10005673607
The present article is focused on analysis of US and Japan government bonds´ market and revealing possible price bubbles while considering the effect of Quantitative Easing and other chosen macroeconomic factors. The aim is set if on these selected market exists price bubble or we can speak...
Persistent link: https://www.econbiz.de/10015240706
Monograph on the Causal Relation of Money Supply and American Stock Market deals with the effect of the change of nominal money supply on the American stock index in the studied period 1967–2014. The „Industrial“ stock index Dow Jones Industrial Average, which is considered a barometer of...
Persistent link: https://www.econbiz.de/10015248810
The purpose of this paper is to study a three-equation dynamic model. The first equation describes the commodity market. The second one demonstrates the dynamics of the money market and the third equation is the interest rate parity. The aim is to investigate the conditions of more complex...
Persistent link: https://www.econbiz.de/10005036402