Czech National Bank Currency Intervention. Czech Economy Salvation or a Wrong Calculus of the Central Bank?

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F14%3A00082222" target="_blank" >RIV/00216224:14560/14:00082222 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Czech National Bank Currency Intervention. Czech Economy Salvation or a Wrong Calculus of the Central Bank?
Original language description
One of the most controversial and most discussed measures conducted by the CNB in the last decade is the currency intervention initiated in November 2013. The issue can be examined from many perspectives. The first part of this paper deals with the problem of deflation in general terms and the justification for the inflation targeting policy. It has been shown that due to existence of money neutrality in long term, change in price level does not have any effect on real quantities. Content of next chapter is discussion whether this intervention will really lead to a faster recovery of the Czech economy or not. Increase in consumption of households, which is major part of GDP, cannot be anticipated due to irreplaceability of imported goods. Following part of the paper focuses on assumption of sterilized intervention and it has been found out that this intervention has not been sterilized.
Czech name
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Czech description
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Publication year
2014
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
ROLE OF FINANCIAL SECTOR IN SUPPORTING THE ECONOMIC RECOVERY OF CEE COUNTRIES, 8TH INTERNATIONAL CONFERENCE ON CURRENCY, BANKING AND INTERNATIONAL FINANCE
ISBN
9788022540346
ISSN
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e-ISSN
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Number of pages
13
Pages from-to
429-441
Publisher name
EKONOM
Place of publication
Bratislava
Event location
Univ Econ Bratislava
Event date
Sep 10, 2014
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
000363914100039

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