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Description
| - The aim of the article is to evaluate the preferences of the ECB in monetary policy and to compare them with preferences of the central banks of new EU member countries from Central and Eastern Europe. The ECB's responsibility for the primary objective (price stability) often contrasts with the requirement for economic growth stabilization policy from the national governments. There are doubts if the current members of Eurozone consists optimum currency area (the Eurozone 12 is recently the combination of rapidly growing and slow-growing - low inflationary countries). The differences between the countries will even expand during the European monetary union enlargement by new EU member countries. Consequently the probability of asymmetric shocks will increase. The main question is the ability of ECB fulfils the needs of all EMU member countries in terms of optimal monetary policy. In the first part the authors analyse differences between the preferences of the ECB and national authorities (governme
- The aim of the article is to evaluate the preferences of the ECB in monetary policy and to compare them with preferences of the central banks of new EU member countries from Central and Eastern Europe. The ECB's responsibility for the primary objective (price stability) often contrasts with the requirement for economic growth stabilization policy from the national governments. There are doubts if the current members of Eurozone consists optimum currency area (the Eurozone 12 is recently the combination of rapidly growing and slow-growing - low inflationary countries). The differences between the countries will even expand during the European monetary union enlargement by new EU member countries. Consequently the probability of asymmetric shocks will increase. The main question is the ability of ECB fulfils the needs of all EMU member countries in terms of optimal monetary policy. In the first part the authors analyse differences between the preferences of the ECB and national authorities (governme (en)
- Primárním cílem ECB, definovaným v Maastrichtských kritériích, je udržení stabilní cenové hladiny. V případě, že je tento cíl splněn, může tato centrální banka svou monetární politiku zaměřit na stimulaci růstu a zaměstnanosti v HMU. Obavy z nesplnění primárního cíle s důsledkem ztráty kredibility staví ECB do role velmi konzervativní banky. Její konzervativní přístup je kritizován nejen ze stran kandidátských zemí na vstup do HMU, které mají v porovnání s HMU tendence dosahovat vyššího růstu za cenu vyššího růstu cenové hladiny, ale také ze stran stávajících členských států HMU. Odlišné požadavky na expanzivnost či restriktivnost monetární politiky ECB se vyskytují z důvodu rozdílných temp růstu a inflace v jednotlivých státech Eurozóny. Elegantním nástrojem pro výpočet požadované výše úrokové sazby na základě mezery růstu a inflační mezery, tedy odchylky inflace od cílové hodnoty, je Taylorovo pravidlo. Hlavním přínosem článku je diskuse na téma konzistentnosti preferencí ECB a národních centrálníc (cs)
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Title
| - Taylor Rule and EMU - Monetary Policy Determination and ECB's Preferences
- Taylorovo pravidlo a EMU - determinace monetární politiky a preferencí ECB (cs)
- Taylor Rule and EMU - Monetary Policy Determination and ECB's Preferences (en)
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skos:prefLabel
| - Taylor Rule and EMU - Monetary Policy Determination and ECB's Preferences
- Taylorovo pravidlo a EMU - determinace monetární politiky a preferencí ECB (cs)
- Taylor Rule and EMU - Monetary Policy Determination and ECB's Preferences (en)
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skos:notation
| - RIV/62156489:43110/06:00108198!RIV07-MSM-43110___
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http://linked.open.../vavai/riv/strany
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http://linked.open...avai/riv/aktivita
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http://linked.open...avai/riv/aktivity
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http://linked.open...iv/cisloPeriodika
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http://linked.open...vai/riv/dodaniDat
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http://linked.open...aciTvurceVysledku
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http://linked.open.../riv/druhVysledku
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http://linked.open...iv/duvernostUdaju
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http://linked.open...titaPredkladatele
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http://linked.open...dnocenehoVysledku
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http://linked.open...ai/riv/idVysledku
| - RIV/62156489:43110/06:00108198
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http://linked.open...riv/jazykVysledku
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http://linked.open.../riv/klicovaSlova
| - inflation targeting; interest rates determination; monetary integration (en)
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http://linked.open.../riv/klicoveSlovo
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http://linked.open...odStatuVydavatele
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http://linked.open...ontrolniKodProRIV
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http://linked.open...i/riv/nazevZdroje
| - Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis
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http://linked.open...in/vavai/riv/obor
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http://linked.open...ichTvurcuVysledku
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http://linked.open...cetTvurcuVysledku
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http://linked.open...UplatneniVysledku
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http://linked.open...v/svazekPeriodika
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http://linked.open...iv/tvurceVysledku
| - Kapounek, Svatopluk
- Lacina, Lubor
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http://linked.open...n/vavai/riv/zamer
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issn
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number of pages
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http://localhost/t...ganizacniJednotka
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is http://linked.open...avai/riv/vysledek
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