Efficiency of Inflation Targeting in Transition Countries, the Case of the Czech Republic
Thesis title: | Efficiency of Inflation Targeting in Transition Countries, the Case of the Czech Republic |
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Author: | Chytilová, Helena |
Thesis type: | Diploma thesis |
Supervisor: | Sedláček, Petr |
Opponents: | Halás, Vladimír |
Thesis language: | English |
Abstract: | This paper examines Czech experience with inflation targeting. It tries to assess
empirically character of deviations from inflation targets throughout the time. It assess situation also in an international context. Consequently it analyse ability of IT regime to anchor inflation expectations in context of CNB?s forecasting performance. Results imply that although deviations were quite frequent in the Czech Republic, their occurrence has not been a barrier for delivering lower inflation and its lower volatility. Notwithstanding, its volatility remains significantly above the range experienced in the EU and the EMU countries. Regarding the inflation expectations, monetary policy surprises tend to be smaller over time,signalising that IT regime is priced by the markets. Thus, credibility of the CNB, concerning
anchoring of inflation expectations, seems to improve after introduction of IT regime. It also indicates that IT regime is a quite appropriate regime for the upcoming period of time, which
will be end up by the entry in the EMU. |
Keywords: | CB?s communication; inflation expectations; exchange rate movements; inflation volatility; inflation targeting |
Thesis title: | Efektivnost inflačního cílování v tranzitivních ekonomikách, případ České republiky |
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Author: | Chytilová, Helena |
Thesis type: | Diplomová práce |
Supervisor: | Sedláček, Petr |
Opponents: | Halás, Vladimír |
Thesis language: | English |
Abstract: | |
Keywords: |
Information about study
Study programme: | Hospodářská politika a správa/Národní hospodářství |
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Type of study programme: | Magisterský studijní program |
Assigned degree: | Ing. |
Institutions assigning academic degree: | Vysoká škola ekonomická v Praze |
Faculty: | Faculty of Economics |
Department: | Department of Economic and Social Policy |
Information on submission and defense
Date of assignment: | 15. 4. 2007 |
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Date of submission: | 15. 4. 2007 |
Date of defense: | 5. 6. 2007 |
Identifier in the InSIS system: | https://insis.vse.cz/zp/4935/podrobnosti |