The central bank independence- theory and Czech Republic case
|Author:||Mgr. Václav Pohoriljak|
|Year:||2005 - summer|
|Leaders:|| doc. Mgr. Tomáš Holub Ph.D.
|Work type:|| Finance and Banking
|Awards and prizes:|
|Abstract:||The central bank independence has become an important variable of the monetary policy at the end of the last century. This essay offers brief view on the theoretical grounds of this variable and overview of basic essays – Kydland, Prescott and Barro, Gordon. Latest views about central bank role are then offered . Next part is dedicated to attemps to quantify independence and to test hypothesis about relationship of the independence and both – inflation and output variability. Author tries acquired approaches apply to FSE countries, especially to the Czech Republic in last part.|