Franta, Michal; Holub, Tomas; Kral, Petr; Kubicova, Ivana; … - Česká Národní Banka - 2014
lower bound on interest rates. It provides a review of the economic literature on unconventional monetary policy instruments …This study examines the use of the exchange rate by the Czech National Bank as a monetary policy instrument at the zero … the case of the Czech Republic. It also explains why the CNB ultimately decided to transparently declare a one …