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The Italian overnight market: microstructure effects, the martingale hypothesis and the payment system

Barucci, Emilio; Impenna, Claudio; Reno, Roberto - Banca d'Italia - 2003

This paper analyzes the Italian segment of the Eurozone money market since the start of the European Monetary Union. Some relevant variables are analyzed at different frequencies (intramonth, intraweek and intraday); both level and volatily of the overnight interest rate, volume exchanged in the...

Persistent link: https://www.econbiz.de/10005113525

Half a century of the world money development

Frait, Jan; Komárek, Luboš - In: Politická ekonomie 2006 (2006) 3

The article provides a general description of the world money development in both developed and developing countries during the second half of 20th century. We were primarily focusing on the long run trends in dollar gold prices, monetary aggregates (broad and narrow money), foreign exchange...

Persistent link: https://www.econbiz.de/10005036615

Central bank Losses. An Economic and Accounting Perspective Using the Example of the Czech National Bank

Mandel, Martin; Zelenka, Vladimír - In: Politická ekonomie 2009 (2009) 6, pp. 723-739

The first question that we ask ourselves in our article is whether the accounting of the central bank is supposed to respect the principles of internationally accepted standards (especially the International Financial Reporting Standards). We are looking for the basic differences in...

Persistent link: https://www.econbiz.de/10008545880

Theory of money of Josef Macek and his monetary policy view

Sojka, Milan - In: Politická ekonomie 2006 (2006) 3

During 1930s and 1940s Josef Macek developed monetary theory leading to monetary policy recommendations which are … deeply influenced by macroeconomic theory of John Maynard Keynes. Macek became leading Czech left-wing keynesian. His theory … critisized and disapproved the quantity theory of money. In his monetary theory and his monetary policy conclusions he was a …

Persistent link: https://www.econbiz.de/10005036614

Výnosová křivka : teorie a praxe českého finančního trhu v kontextu měnové politiky ČNB v r. 1993

Matalik, Ivan - In: Finance a úvěr 44 (1994) 11, pp. 597-609

Persistent link: https://www.econbiz.de/10001203282

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

basic principles of contemporary Post-Keynesian monetary theory of relative endogeneity of money are shortly presented. The …

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

Odhad parametrù modelù ve stavovém tvaru

Vlèek, Jan - In: Czech Journal of Economics and Finance (Finance a uver) 52 (2002) 5, pp. 275-286

Èlánek struènì shrnuje dosavadní pøístupy k odhadu parametrù a poèáteèních podmínek pro modely ve stavovém tvaru. Ukazuje možnosti využití jednotlivých metod, stejnì jako jejich výhody a nevýhody. Podrobnìji je zde zmiòována metoda maximální vìrohodnosti pro modely ve...

Persistent link: https://www.econbiz.de/10008495697

Modifying IS-MP-IA Model for the Czech Economy

Hušek, Roman; Švarcová, Radka - In: Acta Oeconomica Pragensia 2007 (2007) 1, pp. 20-26

Modifying IS-MP-IA model by using EU economic characteristics allows for better interpretation of the results. Specifically, from the point of view of the IS and MP curves we obtain useful information about the influence of EU economy on the Czech economy (i.e. on its GDP). We may conclude that...

Persistent link: https://www.econbiz.de/10005036446

Systematic part of CNB's monetary policy in inflation targeting regime

Navrátil, David - In: Politická ekonomie 2004 (2004) 5, pp. 623-636

In the inflation targeting regime the central bank makes a decision about interest rate adjustment based on a forecast, primarily of inflation. Thus a big part of the decisions on interest rate adjustments corresponds to systematic response of central bank to expected economic development. The...

Persistent link: https://www.econbiz.de/10005036683

Currency in circulation: global trends and the situation in the Czech republic

Cimburek, Jan; Řežábek, Pavel - In: Politická ekonomie 2008 (2008) 6, pp. 739-758

This paper deals with the evolution of currency in circulation and world trends in selected developed countries. We argue against the opinion that money in their cash form (i.e. notes and coins) will seize to exist within the horizon of fifteen years and that only electronic means of payment...

Persistent link: https://www.econbiz.de/10008754951

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