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General Equilibrium Analysis of the Czech Financial Market and a Financial Fragility Model

Machek, Ondřej; Smrčka, Luboš; Hnilica, Jiří; … - In: Politická ekonomie 2014 (2014) 4, pp. 437-458

The purpose of this paper is to create a financial fragility model for the Czech financial sector. We adapt the Goodhart-Tsomocos model which is based on general equilibrium with incomplete markets, money and default. The calibration of the model is based on publicly available data from the...

Persistent link: https://www.econbiz.de/10011228233

Assistance to Troubled Banks - Theory, Reality and Monetary Implications

Revenda, Zbyněk - In: Politická ekonomie 2014 (2014) 2, pp. 270-288

the central bank has shifted toward non-credit forms of assistance, provided mainly by the state, and even toward …, owners of subordinated debt and uninsured depositors have been exhausted. Credit by a central bank should be granted only to … temporarily illiquid banks. Primarily as this credit assistance can have significant monetary implications, in as much as it leads …

Persistent link: https://www.econbiz.de/10011228240

Seigniorage in continuous time

Mach, Petr; Hanzák, Tomáš - In: Politická ekonomie 2004 (2004) 4, pp. 513-518

The government is able to acquire real goods through printing money. Because government does not create wealth through printing money, this revenue, the seigniorage, is at the expense of the public, as the purchasing power of monetary units decreases because of the issue of new money. The...

Persistent link: https://www.econbiz.de/10005036705

Central Bank Monopolies and Money Issuance

Revenda, Zbyněk - In: Politická ekonomie 2009 (2009) 5, pp. 579-600

The article deals with the role of the central banks in advanced market economies and the theoretical possibility of abolishing these institutions. Central banks have monopolies in some areas, especially regarding monetary policy. In many countries, central banks also have monopolies in other...

Persistent link: https://www.econbiz.de/10008545886

Central bank as lender of last resort in the light of the problems of the czech economy

Revenda, Zbyněk - In: Politická ekonomie 2000 (2000) 3

One of the main goals of the banking regulation and supervision is the promotion of the integrity, stability and health of the banking system as a whole. This also requires the mechanism, which would help some problem banks to gain lacking funds to meet the liquidity needs. Lender of last...

Persistent link: https://www.econbiz.de/10005258061

A model of a competitive credit market in the conditions of imperfect information

Janda, Karel - In: Politická ekonomie 2002 (2002) 4

An information asymmetry in a credit market with a Bertrand competition among lenders leads to different inefficiencies …

Persistent link: https://www.econbiz.de/10005258309

Gravity and Fiscal Models of Government Support of Export Credit in the Czech Republic

Janda, Karel; Michalíková, Eva; Potácelová, Věra - In: Politická ekonomie 2010 (2010) 3, pp. 305-325

The article deals with the export credit promotion in the Czech Republic. The econometric analysis of the gravity model … of Czech trade shows that the credit support provided by specialized government agency, Czech Export Bank, has a positive … government budget. The budgetary costs of export credit support are offset by the tax revenues generated by supported export. …

Persistent link: https://www.econbiz.de/10008553106

The Impact of Social Systems and their Coordination on Economic Migration

Tepperová, Jana; Klazar, Stanislav - In: Politická ekonomie 2012 (2012) 4, pp. 505-522

their coordination as a relevant explanatory factor. The paper focuses on the social security systems in Europe, their …

Persistent link: https://www.econbiz.de/10011195267