| Abstract: |
This thesis deals with a specific part of transmission mechanisms of monetary policy – the relation between the intermediate and ultimate targets of this policy. The first part of this thesis distinguishes in general between the theory of monetarist transmission mechanism and that of credit transmission mechanism. The second part applies this theoretical framework to the case of the Czech economy: it presents macroeconomic data and, using econometric methods, it aims at deciding on which of the aforementioned transmission mechanisms is predominant in the Czech Republic. |
