" Exchange" . "0"^^ . "2014-01-30+01:00"^^ . "2012-03-30+02:00"^^ . "Financial" . . "0"^^ . . . "Financial markets play positive role in economic system just in case the markets stimulate savings creation and their allocation to effective investment projects. Financial crisis is caused by failure of this allocation process. Special attention will therefore be paid to excess credit expansion in mortgage and consumer credits and its relationship with central bank\u2019s interest rate policy. The research will solve the question whether current financial crisis relates with insufficient or excess regulation of financial markets. From institutional point of view the research will focus on system potential for interconnection of national and supra-national regulation of banking and non-banking sector. The research will focus on effectiveness of regulation with respect to destabilizing flows of speculative capital. The problem of regulation to be focused on state (balance sheet or off balance sheet) variables or on financial flows (speculative yields taxation) will also be solved. An attention will also be paid to a role of current international monetary system based on issuance of international trade a reserve currency (USD) through U.S. balance of payment deficit. An empirical analysis will focus on behavior of prices in financial markets using modern statistical methods."@en . . . . " System" . "GAP402/10/0289" . "Instability of Financial Markets and Efficiency of their Regulations"@en . " and" . " Markets" . "V\u00FDstupy projektu v\u00FDznamn\u011B p\u0159isp\u011Bly k rozvoji pozn\u00E1n\u00ED v oblastech monet\u00E1rn\u00ED teorie a teorie mezin\u00E1rodn\u00ED ch financ\u00ED a bankovnictv\u00ED. V\u00FDznamn\u00E9 jsou v\u00FDstupy projektu roz\u0161i\u0159uj\u00EDc\u00ED teorii regulace bankovn\u00EDho sektoru a nab\u00EDdka nov\u00FDch n\u00E1stroj\u016F monet\u00E1rn\u00ED politiky. V\u00FDsledky \u0159e\u0161en\u00ED byly publikov\u00E1ny v impaktovan\u00FDch a recenzovan\u00FDch \u010Dasopisech (dom\u00E1c\u00EDch i zahrani\u010Dn\u00EDch) v datab\u00E1z\u00EDch Thomson Reuters a Scopus."@cs . . . "Financial; Markets; Foreign; Exchange; Market; Central; Banking; Banking; System; Regulation; and; Suoervision"@en . . "2012-12-31+01:00"^^ . " Market" . . "2010-01-01+01:00"^^ . . . " Foreign" . . "http://www.isvav.cz/projectDetail.do?rowId=GAP402/10/0289"^^ . "26"^^ . . . "26"^^ . "The outcomes of the project substantially contributed to the development of the monetary theory and the theory of international finance and banking. Most notably, the outcomes of the project contributed to the theory of regulation of the banking sector and offered new tools for monetary policy. Outcomes of the project were published in impacted and peer reviewed journals listed in WoS and Scopus."@en . " Banking" . " Central" . . . " Regulation" . "Finan\u010Dn\u00ED trhy (FT) hraj\u00ED\u00A0pozitivn\u00ED roli v\u00A0hospod. syst\u00E9mu, pokud stimuluj\u00ED tvorbu\u00A0 \u00FAspor a zaji\u0161\u0165uj\u00ED\u00A0jejich alokaci do efektivn\u00EDch investi\u010Dn\u00EDch projekt\u016F.\u00A0Fin. krize je v\u00FDsledkem\u00A0selh\u00E1n\u00ED tohoto aloka\u010Dn\u00EDho procesu.\u00A0Zvl\u00E1\u0161tn\u00ED pozornost proto bude v\u011Bnov\u00E1na probl\u00E9mu nadm\u011Brn\u00E9 \u00FAv\u011Brov\u00E9 expanze v oblasti hypote\u010Dn\u00EDch a spot\u0159ebitelsk\u00FDch \u00FAv\u011Br\u016F a jej\u00EDho vztahu k \u00FArokov\u00E9 politice centr. banky.\u00A0V\u00FDzkum bude \u0159e\u0161it ot\u00E1zku, zda vznik sou\u010Dasn\u00E9 fin. krize souvis\u00ED s nedostate\u010Dnou nebo naopak s nadm\u011Brnou regulac\u00ED fin. trhu. Z institucion\u00E1ln\u00EDho pohledu se zam\u011B\u0159\u00EDme na\u00A0syst\u00E9mov\u00E9 mo\u017Enosti propojen\u00ED n\u00E1rodn\u00ED a nadn\u00E1rodn\u00ED regulace bankovn\u00EDho a nebankovn\u00EDho sektoru. V\u00FDzkum bude zam\u011B\u0159en na efektivnost regulace fin.trh\u016F z hlediska\u00A0omezen\u00ED destabiliza\u010Dn\u00EDch pohyb\u016F spekula\u010Dn\u00EDho kapit\u00E1lu. Bude zkoum\u00E1na ot\u00E1zka, zda p\u0159\u00EDpadn\u00E1 regulace\u00A0m\u00E1 b\u00FDt zam\u011B\u0159ena sm\u011Brem k regulaci stavov\u00FDch (tj. rozvahov\u00FDch a podrozvahov\u00FDch) veli\u010Din, nebo zda\u00A0m\u00E1 sm\u011B\u0159ovat na regulaci fin. tok\u016F (nap\u0159. zdan\u011Bn\u00ED\u00A0v\u00FDnos\u016F ze spekulace). Pozornost bude rovn\u011B\u017E v\u011Bnov\u00E1na roli sou\u010Dasn\u00E9ho mezin\u00E1rodn\u00EDho m\u011Bnov\u00E9ho syst\u00E9mu zalo\u017Een\u00E9ho na emisi mezin\u00E1rodn\u00ED obchodn\u00ED a rezervn\u00ED m\u011Bny (zejm. USD) prost\u0159ednictv\u00EDm deficitn\u00EDho salda platebn\u00ED bilance USA.\u00A0Empirick\u00E1 anal\u00FDza se zam\u011B\u0159\u00ED na \u00A0chov\u00E1n\u00ED cen\u00A0na fin. trz\u00EDch s vyu\u017Eit\u00EDm modern\u00EDch statistick\u00FDch metod.\u00A0" . "Nestabilita finan\u010Dn\u00EDch trh\u016F a efektivnost jejich regulace" . "1"^^ . .