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Theory of money of Josef Macek and his monetary policy view

Sojka, Milan - In: Politická ekonomie 2006 (2006) 3

During 1930s and 1940s Josef Macek developed monetary theory leading to monetary policy recommendations which are … deeply influenced by macroeconomic theory of John Maynard Keynes. Macek became leading Czech left-wing keynesian. His theory … critisized and disapproved the quantity theory of money. In his monetary theory and his monetary policy conclusions he was a …

Persistent link: https://www.econbiz.de/10005036614

Contributions to Inflation and Deflation in Today?s Market Economy

Revenda, Zbynìk - In: Czech Journal of Economics and Finance (Finance a uver) 54 (2004) 7-8, pp. 335-354

There are three possible price movements in a market economy: stability, inflation, and deflation. Inflation and deflation are defined in this article as changes in the purchasing power of money caused by the money creation. Inflation and deflation have many asymmetric, and even some symmetric,...

Persistent link: https://www.econbiz.de/10008549675

Monetary Policy during Very Low Inflation

Komárek, Luboš - In: Czech Journal of Economics and Finance (Finance a uver) 54 (2004) 1-2, pp. 64-67

The article summarizes the main points discussed at the seminar on Monetary Policy during Very Low Inflation, held by the Czech Economic Association in June 2003. There were two main speakers at the seminar. The first was Jan Frait (Czech National Bank), who summarized the main ideas of...

Persistent link: https://www.econbiz.de/10008495641

European monetary union and risks for real convergence

Janáček, Kamil; Janáčková, Stanislava - In: Politická ekonomie 2004 (2004) 4, pp. 435-450

New members of the EU will not form an optimum currency area with the present eurozone member states. The article discusses some costs and benefits of an early EMU entry for the Czech Republic (and other Central-European economies). The authors concentrate on the consequences of loss of...

Persistent link: https://www.econbiz.de/10005036622

Price Convergence toward the EU: A Few Open Issues

Èihák, Martin; Holub, Tomáš - In: Czech Journal of Economics and Finance (Finance a uver) 51 (2001) 6, pp. 349-362

theory? Third, what is the relationship between price levels and coefficient measuring differences in the structures of …

Persistent link: https://www.econbiz.de/10008549821

A Comparison of New Consensus as a Theoretical Framework of Inflation Targeting with Post-Keynesian Economics

Korda, Jan - In: Politická ekonomie 2010 (2010) 1, pp. 92-104

The article deals with the relationship of post-Keynesian economics to new consensus as a theoretical framework of inflation targeting. First, new consensus with its roots in Wicksell´s approach is briefly introduced. In the next parts differences and meeting-points of new consensus and...

Persistent link: https://www.econbiz.de/10008602649

Determinantes económicos de la decisión de emigrar

Arocha González, Manuel - In: Entelequia. Revista Interdisciplinar (2007) 4, pp. 71-78

The purchasing power's difference between currencies appears to trigger a person to make the decision of emigrating, but it does not look to be the only one. European Union enlargement, immigration policies, as well as different personal and/or psychological reasons, have modified migrations...

Persistent link: https://www.econbiz.de/10005430354

The stabilization mechanism of ultra short-term interest rates in the context of Czech national bank's repo tenders

Brůna, Karel - In: Politická ekonomie 2005 (2005) 4, pp. 459-476

Effectiveness of actual monetary policy depends on the ability of central banks to stabilize the fluctuations of overnight interest rates around their official policy rate. To ensure the functionality of the stabilization mechanism needs the successful balancing between bank's demand for...

Persistent link: https://www.econbiz.de/10005036651

An analysis of PRIBOR interest rates sensitivity to changes in Czech national bank repo rate

Brůna, Karel; Brada, Jaroslav - In: Politická ekonomie 2004 (2004) 5, pp. 601-622

Bank repo rate. For this purpose we use the framework of expectation theory with the term premium and simple deterministic …

Persistent link: https://www.econbiz.de/10005036676

Monetary approach to inflation: A medium-term structural model in a small open economy (the case of the Czech Republic in 1996-2004)

Arlt, Josef; Kodera, Jan; Mandel, Martin; Tomšík, … - In: Politická ekonomie 2006 (2006) 3

The paper analyses a relationship between monetary aggregate M2 and inflation in a small open economy. The relationship between monetary expansion and inflation as well as a dynamic of income velocity of money framework in a small open economy are discussed in more details in the paper. Authors...

Persistent link: https://www.econbiz.de/10005036707