Mgr. Svatopluk Svoboda
Field of interest: Monetary Policy, Concentration Measures, Transmission channels
Membership: Macroeconomics and Econometrics, PhD Candidates
Email: Svoboda [DOT] svato [AT] gmail [DOT] com
Available: upon request
Studying from: 2009
Dissertation Proposal defence:
Financial Fragility and Transmission Channels of Monetary Policy
Monetary transmission mechanisms have been in focus of economic research for at least the last 20 years. Nowadays, theory distinguishes many channels through which actions of central banks influence real economic variables, such as aggregate output or inflation. The most important of these channels are interest rate channel, exchange rate channel and two credit channels (bank lending channel and balance sheet channel). Without getting to know and proper understanding of these channels, it is not possible to properly understand effects that central bank has on real economy. Majority of transmission channels works through the banking sector. To these I would like to pay closer attention in theoretical part of my Phd research.
It is obvious that soundness of financial (banking) sector is an important prerequisite for monetary authorities to be able to predict results of monetary actions. When financial sector`s functioning is not reliable, or working of banking sector is not transparent, transmission of monetary impulses to real economy may become unpredictable, even reverse. There are many ways how to assess degree of soundness of financial (banking) sector. Leading among them are microprudential indicators, macroeconomic variables associated with financial soundness, and so-called fragility indexes. Attempts of constructing several fragility indexes will constitute analytical part of my Phd research. As to the empirical part, I would like to observe correlation between fragility of banking system and developments of macroeconomic variables in a country.
The leading question, to which I will try to find and formulate answers, is: “How does the degree of banking sector fragility effect the possibilities of monetary authorities to influence real economy?”
Topics for supervision
Industry classifiaction - development/problems
Measures of concentration on sectoral level
Financial stability/fragility - methods of measurment.
Role of risk-monitoring and risk-assessment in behavior of financial institutions.
Financial markets and applicability of monetary policy.
Supervised Master Theses