The Spectrum of Monetary Policy Objectives in the Concept of the Economic Policy of th State

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989592%3A15210%2F18%3A73591372" target="_blank" >RIV/61989592:15210/18:73591372 - 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

The Spectrum of Monetary Policy Objectives in the Concept of the Economic Policy of th State

Original language description

The objectives of central bank monetary policy are defined in national legislation somewhat broadly, although the objective of price stability dominates in all. But other goals are more vaguely designed and some of them are even opposite. The objectives of the monetary policy of the Czech National Bank are currently defined relatively widely and in principle contain the whole concept of the economic policy of the state. The main objective of monetary policy is still to maintain price stability, but the secondary objectives set out in Article 2, paragraph (1) of the Czech National Bank Act No. 6/1993 Coll are so broad that they may often conflict with the concept of price stability. This fact is particularly pronounced in the past 5 years, when the Czech National Bank has played a significant role in economic recovery and growth, with zero interest rates and foreign exchange interventions, which, in principle, is not the responsibility of monetary policy. Similarly, unorthodox is current moentary policy of the ECB, which even reaches negative interest rates and quantitative easing. The article analyzes the modern concept of Czech National Bank monetary policy in the post-crisis period, ambivalence of its monetary policy objectives, analyzes the effectiveness of its inflation targeting, including the implementation of its main monetary policy instruments in comparison to another central banks.

Czech name

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Czech description

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Type

D - Article in proceedings

CEP classification

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OECD FORD branch

50204 - Business and management

Project

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Continuities

S - Specificky vyzkum na vysokych skolach

Publication year

2018

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection

Knowledge for Market Use 2018: Public Finances in the Background of Sustainable Development

ISBN

978-80-244-5392-7

ISSN

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e-ISSN

neuvedeno

Number of pages

7

Pages from-to

370-376

Publisher name

Univerzita Palackého v Olomouci

Place of publication

Olomouc

Event location

Olomouc

Event date

Sep 6, 2018

Type of event by nationality

EUR - Evropská akce

UT code for WoS article

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