The goal of the article is a qualitative and quantitative analysis of the relationship among savings, investments and credits in a business cycle in the Czech Republic. The presented analysis brings specific recommendations on the interaction between monetary policy and macroprudential...

In case that a central bank is withdrawing excess liquidity, there arises a question whether the monetary policy based on repo operations (withdrawal repo) is identically efficient as the monetary policy relying on repo rate connected with reverse repo (issuance repo) when central banks provide...

The Maastricht criteria measure the nominal convergence process of transformation countries to the European Union (resp. the EMU). The real convergence process, as opposed to the nominal, is much less scrutinized. Due to the high income elasticity of imports in Central and Eastern European...

The paper provides a comprehensive survey of the theories of consumption functions. The Keynesian consumption function is examined in more detail under a condition of a small open economy. The paper explains the variety of consumption expenditures in the Czech Republic between 1993 - 2001. In...

The year 1996 was in sign of deepen unbalance in external relationships. The paper is a try to summarise problem of current account of balance payment primarily with coherence to monetary and fiscal policy last years. The first part depicted hitherto development after 1989 in Czech economy with...

This paper analyzes the development of the external balance in five Central and East European countries: Czech Republic, Hungary, Poland, Slovakia, and Slovenia. The paper applies, expands, and empirically verifies the ideas of life-cycle theory in the area of the effects of foreign direct...

Monetary and fiscal policy should be paired with the economic objectives on which they have the most influence. The authors have transformed this traditional Mundell's principle of effective market classification into the conditions of the Czech economy - a small open economy with controlled...

The article analyses a development of the external balance in five Central and Eastern European countries: the Czech Republic, Hungary, Poland, the Slovak Republic, and Slovenia. The main idea of the article is to apply, expand, and empirically verify the ideas of life cycle theory in the area...

The paper analyzes how central banks pay attention to foreign exchange exposure and the profit function in pursuing monetary policy. The results of the paper document that in practice, central banks do not take the microeconomic approach based on profit maximization in making decisions on the...