Central Banks' Financial Strength and Monetary Policy
|Autor:||Mgr. Jan Kadlec|
|Rok:||2015 - letní|
|Vedoucí:|| doc. Mgr. Tomáš Holub Ph.D.
|Typ práce:|| Diplomová
|Abstrakt:||The objective of this thesis is to see how effectively can central banks can conduct monetary policy
under specific circumstances. Four hypothesis are being examined on the case study of five central
banks - the Czech National Bank, the Central Bank of Chile, the Bank of Jamaica, the Central Bank
of Argentina and the Swiss National Bank. Firstly this work confirms that solid monetary policy can
be applied even if CB is dealing with loss based on inflation targeting success rate of central banks.
Secondly, in the case of Czech National Bank using VAR, was concluded that inflation expectations
can influence the outcome of CB´s monetary policy. In the second part of this hypothesis the
expectations from the government side in SNB case were examined. On the case of Argentina the
negative effect of adjusting monetary policy was demonstrated. The last part elaborates on the topic
of determining optimal capitalisation of central bank