The Czech economy entered the global crisis with no major imbalances. Importantly, it did not suffer from the FX mortgage problem, unlike its regional peers. This was mainly a reflection of its early disinflation process accomplished under the inflation targeting regime from 1998. As a result,...

A cseh gazdaságot jelentős egyensúlyhiány nélkül érte a globális válság. fontos megjegyezni, hogy regionális társaitól eltérően Csehország gazdaságát nem terhelték devizahitelek. ez főként annak a korai dezinflációs politikának volt köszönhető, amely az 1998-ban...

Excessive credit growth is often considered to be an indicator of future problems in the financial sector. This paper examines the issue of how best to determine whether the observed level of private sector credit is excessive in the context of the “countercyclical capital buffer”, a...

Excessive credit growth is often considered to be an indicator of future problems in the financial sector. This paper examines the issue of how best to determine whether the observed level of private sector credit is excessive in the context of the “countercyclical capital buffer”, a...