An assumption that a central bank can influence the real interest rates is the object of our interest. In the paper we form and solve a model which corresponds to Romer´s (2000) assumptions. Our model is IS-LM augmented by a conception of price-adjusting after monetary intervention and...

Market interest rates are usually determined not only by the inflation related determinants but also by the forces that affect real interest rates fluctuations. In point of fact the nominal interest rates are driven by many specific determinants so that it should not be clear the nominal...

The paper analyses the factors leading to the fall of long-term interest rates in the Czech Republic – respectively, the long-term interest rate differential in the Czech Republic and the Eurozone – between 1998 and 2003. The selection of factors is determined by the Fisher equation, UIP,...

The transformation of the world economy over the past two decades has been manifesting itself in various forms. On the one hand, there is an increasing interdependence of the world economy, which is a manifestation of the depth of the globalization process, mainly thanks to the expansion of...

This paper aims to estimate efficiency of the Slovak commercial banks in the period 2001-2005. The paper uses data obtained from annual reports of 13 Slovak banking institutions. For the practical estimation we applied the parametric Stochastic Frontier Approach and Cobb-Douglas production...

The 2008 financial crisis has its origins in the US real estate market. By means of purchases of US mortgage-backed securities it spread to the portfolios of financial companies everywhere in the world and it is making its way to the real economy. The measures to be taken include cutting...

In this paper historical performance of eleven approaches for estimation of one-day 95% value-at-risk is evaluated. Random sample of 1000 foreign exchange portfolios consisting of positions in EUR and USD with CZK as a base currency was considered. Since foreign exchange portfolio consists of...

The paper presents empirical analysis of influence of different ownership forms on efficiency of Czech and Slovak banks using the Stochastic Frontier Analysis. The paper brings new results as it uses set of data which has not been used previously in the literature. On the set of 44 Czech and 21...

Svetová finančná kríza, ktorá postupne prerástla do globálnej ekonomickej krízy vo veľkej miere ovplyvnila aj svetový obchod a obchodné financovanie. Obchodné financovanie je pre medzinárodný obchod nevyhnutnosťou, a preto ICC (International Chamber of Commerce) na podnet WTO...