Exiting from an Exchange Rate Floor in a Small Open Economy: Balance Sheet Implications of the Czech National Bank's Exchange Rate Commitment
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F22%3A10456304" target="_blank" >RIV/00216208:11230/22:10456304 - isvavai.cz</a>
Result on the web
<a href="https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=iH6~e8eYQ4" target="_blank" >https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=iH6~e8eYQ4</a>
DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
Exiting from an Exchange Rate Floor in a Small Open Economy: Balance Sheet Implications of the Czech National Bank's Exchange Rate Commitment
Original language description
The aim of this paper is to model the situation of a large central bank balance sheet with assets consisting almost exclusively of foreign exchange reserves in the circumstances of a catching-up economy exhibiting an exchange rate appreciation trend. As an illustration, we present projections of the Czech National Bank's balance sheet after the discontinuation of its exchange rate commitment. Apart from the baseline projection, which suggests a switch from losses to profits in 2026, several scenarios are discussed. Some relate to the exchange rate commitment itself (such as a discussion of its fiscal consequences), while others examine more general central bank balance sheet issues (such as a long-run decline in currency in circulation).
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50201 - Economic Theory
Result continuities
Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2022
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
International Journal of Central Banking
ISSN
1815-4654
e-ISSN
1815-7556
Volume of the periodical
18
Issue of the periodical within the volume
2
Country of publishing house
US - UNITED STATES
Number of pages
55
Pages from-to
51-105
UT code for WoS article
000821937100005
EID of the result in the Scopus database
2-s2.0-85138628492