03075ntm a22004937i 4500 000303442 CZ-PrVSE 20160205205557.0 m d cr n|||||||||| 160205s2015 xr fsbm 000 0 eng d NEZPRACOVANÝ IMPORT ABA006 cze ABA006 ABA006 rda Purnochová, Barbora ISIS:87452 dis Exchange rate as an unconventional tool of monetary expansion on the example of The Czech Republic eng Exchange rate as an unconventional tool of monetary expansion on the example of The Czech Republic / Barbora Purnochová 2015 ?? s. : digital, PDF soubor Vedoucí práce: Karel Brůna Diplomová práce (Ing.)—Vysoká škola ekonomická v Praze. Fakulta financí a účetnictví, 2016 Obsahuje bibliografii Textový (vysokoškolská kvalifikační práce) Rok obhajoby 2016 Recent crisis and economic recession caused in many countries problems with drop in inflation and overall downturn in economic growth. The Central Banks found themselves in so called zero lower bound. This thesis describes the situation of deflation, zero lower bound and liquidity trap. These conditions called for the use of alternative monetary policy tools. The main goal of the thesis is to evaluate the use of foreign exchange rate intervention as unconventional tool in a small open economy with inflation targeting regime represented by the Czech Republic in the analytic part. Thesis examines other non-standard instruments and provides reasons for the Czech National Bank decision. The analysis shows the complexity of the issue and provides the evidence that exchange rate commitment was not displayed to the desired price level. The tool could lead to expected repercussion, but the effect is impacted by factors, which Central Bank cannot control. The effect of the CB way to fight the decreasing inflation will be better shown after the CB exit from the commitment. Způsob přístupu: Internet finance [obor dipl. práce] diplomové práce fd132022 czenas master's theses eczenas Exchange rate intervention unconventional tool central bank Brůna, Karel, 1973- mzk2009543943 ths Kučera, Lukáš jo2015879252 opn Vysoká škola ekonomická v Praze. Fakulta financí a účetnictví kn20010709398 dgg https://isis.vse.cz/zp/51380/podrobnosti VŠKP v InSIS https://isis.vse.cz/zp/51380 Hlavní práce https://isis.vse.cz/zp/51380/posudek/vedouci Hodnocení vedoucího https://isis.vse.cz/zp/51380/posudek/oponent/45655 Oponentura https://isis.vse.cz/zp/51380/podrobnosti dc:identifier NEPOSILAT VSKP vse51380 160205 51380