This paper focuses on the impact of the Basel III accord on emerging, developing and small economies. It looks primarily at potential unintended consequences of the new rules. The areas of concern for both banks and regulators are found in increases in risk-weighted assets for trading exposures,...

During 1990s' the economy of Japan slipped into a long-sustained recession with strong deflation pressures. The aim of the paper is not to analyse this particular development in detail. It focuses on some specific aspects of macroeconomic development of the Japanese economy that gave birth to...

The paper aims at enriching current discussions about the equilibrium exchange rate level for the Czech currency, and generally for transition economies. The main idea of the paper is to introduce one of the newly emerged conceptions of real exchange rate which can indicate potential...

The Czech Republic had experienced a credit boom similar to those in other converging economies in the pre-crisis years. Nevertheless, the consequences of this credit boom were limited as was the impact of the global crisis on domestic financial institutions. This paper describes the...

The crisis has brought the issue of regulating large, complex and highly interconnected financial institutions back into the spotlight. Supervisory and other competent authorities have discovered that they have only limited ways of preventing an idiosyncratic shock in one institution from...

This paper focuses on the way the macroprudential policy framework in a small EU economy should be designed. With reference to the experience of the Czech Republic's financial system and the Czech National Bank it provides definitions of financial stability and macroprudential policy as well as...

This article summarizes papers presented and discussions held at the recent seminar of the Czech Economic Association. The seminar was devoted to a much discussed issue within transitional economics the impact of corruption on long-term economic development. The seminar addressed the possible...