03862ntm a22005417i 4500 000717547 CZ-PrVSE 20240914152213.0 m d cr n|||||||||| 240914s2024 xr fsbm 000 0 eng d NEZPRACOVANÝ IMPORT ABA006 cze ABA006 ABA006 rda Liu, Yu ISIS:137969 dis Efektivnost Měnové Politiky v České Ekonomice v Letech 1998–2023 eng Monetary Policy Efficiency in Czech Economy Between 1998–2023 / Yu Liu 2024 ?? stran : digital, PDF soubor Vedoucí práce: Milan Bednář Diplomová práce (Ing.)—Vysoká škola ekonomická v Praze. Národohospodářská fakulta, 2024 Obsahuje bibliografii Textový (vysokoškolská kvalifikační práce) Rok obhajoby 2024 The master thesis investigates the efficiency of monetary policy in the Czech Republic from the first month of 1998 to the last month of 2023, following the Czech National Bank's adoption of an inflation-targeting regime in 1998. Despite targeting an annual 2% consumer price index growth rate (CPI), deviations from this target during financial crises and the recent COVID-19 have raised concerns regarding the efficiency of monetary policy. The short-term normal interest rate is a central instrument used by the Czech National Bank to maintain price stability. Therefore, this thesis aims to explore the impact of monetary policy, particularly through the interest rate channel, on the Czech economy from 1998 to 2023. The hypothesis is that monetary policy in the flexible inflation channel has had a non-negligible effect from 1998 to 2023 during periods of adopting the inflation regime. In the theoretical part, I describe an in-depth overview of the historical evolution and mechanisms of monetary policy, discussing various channels such as interest rate and credit exchange rates, asset prices, and expectations, and how they affect monetary policy efficiency, alongside the price puzzle phenomenon. It also gives the perspective of the interactions between monetary, fiscal, and macroprudential policies. The empirical part reviews relevant empirical literature, and presents key Czech macroeconomic indicators from 1998 to 2023, excluding the period from 2013 to 2017. Analyzes the synchronization with the Euro Area. The Structural Vector Autoregression model is employed to interpret monetary policy efficiency through impulse response functions. The study concludes with a discussion of the limitations and policy implications of my empirical findings. Způsob přístupu: Internet economics and public policy [obor dipl. práce] diplomové práce fd132022 czenas master's theses eczenas Inflation Czech Republic Czech National Bank SVAR model Granger causality Monetary policy Bednář, Milan, 1991- vse20231209201 ths Štěpánek, Pavel ISIS:1600 opn Vysoká škola ekonomická v Praze. Národohospodářská fakulta kn20010709401 dgg https://insis.vse.cz/zp/87073/podrobnosti VŠKP v InSIS https://insis.vse.cz/zp/87073 Hlavní práce https://insis.vse.cz/zp/87073/posudek/vedouci Hodnocení vedoucího https://insis.vse.cz/zp/87073/posudek/oponent/84276 Oponentura https://insis.vse.cz/zp/87073/priloha/29708 Přiloha k práci https://insis.vse.cz/zp/87073/podrobnosti dc:identifier NEPOSILAT VSKP vse87073 240913 87073