Trhy aktiv a měnová politika v nových členských zemích EU

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F08%3A00018307" target="_blank" >RIV/61989100:27510/08:00018307 - isvavai.cz</a>

Výsledek na webu

—

DOI - Digital Object Identifier

—

Jazyk výsledku

angličtina

Název v původním jazyce

Asset Prices and Monetary Policy in NEw EU Member States.

Popis výsledku v původním jazyce

The paper deals with the relationship between monetary policy and asset prices. Besides surveying recent general discussion, it attempts to extend it to recent developments in the new EU Member States (NMS), namely the Czech Republic, Hungary, Poland andSlovakia (the EU4). After a brief description of the current macroeconomic situation in the NMS, the appropriate reaction of monetary policy to asset price bubbles is dealt with and the main pros and cons associated with this reaction are summarized. Afterwards, the risks of asset market bubbles in the EU4 countries are evaluated. Since the capital markets are still underdeveloped and the real estate price boom seems to be a natural reaction to the initial undervaluation, the risks are viewed as relatively small. The conclusion is thus that it is crucial for central banks in mature economies as well as in the NMS to conduct their monetary policies as well as their supervisory and regulatory roles in a way that does not promote the buil

Název v anglickém jazyce

Asset Prices and Monetary Policy in NEw EU Member States.

Popis výsledku anglicky

The paper deals with the relationship between monetary policy and asset prices. Besides surveying recent general discussion, it attempts to extend it to recent developments in the new EU Member States (NMS), namely the Czech Republic, Hungary, Poland andSlovakia (the EU4). After a brief description of the current macroeconomic situation in the NMS, the appropriate reaction of monetary policy to asset price bubbles is dealt with and the main pros and cons associated with this reaction are summarized. Afterwards, the risks of asset market bubbles in the EU4 countries are evaluated. Since the capital markets are still underdeveloped and the real estate price boom seems to be a natural reaction to the initial undervaluation, the risks are viewed as relatively small. The conclusion is thus that it is crucial for central banks in mature economies as well as in the NMS to conduct their monetary policies as well as their supervisory and regulatory roles in a way that does not promote the buil

Druh

C - Kapitola v odborné knize

CEP obor

AH - Ekonomie

OECD FORD obor

—

Projekt

<a href="/cs/project/GA402%2F08%2F0067" target="_blank" >GA402/08/0067: Finanční integrace nových členských zemí EU s eurozónou</a><br>

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2008

Kód důvěrnosti údajů

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

Název knihy nebo sborníku

Central Banks - Roles, Functions and Challenges

ISBN

978-81-314-2098-0

Počet stran výsledku

23

Strana od-do

—

Počet stran knihy

296

Název nakladatele

The ICFAI University Press

Místo vydání

Hyderabad

Kód UT WoS kapitoly

—