"RIV/61989100:27510/05:00012553!RIV10-MSM-27510___" . "Kotl\u00E1n, Viktor" . "Horn\u00EDkov\u00E1, Martina" . "[417006179830]" . . "Spontaneous Euroization in the Czech Republic (Is It a Problem and Why Not?)"@en . "10"^^ . "Prague Economic Papers" . "Spontaneous Euroization in the Czech Republic (Is It a Problem and Why Not?)" . "1"^^ . . . . "14" . . . "1210-0455" . "544048" . . "The paper offers a preliminary analysis of possible spontaneous euroization in the Czech economy. After a brief general introduction of the issue of currency substitution it specifically discusses two things. First, the transmission channels of potential spontaneous euroization, through which the process could possibly complicate the implementation of domestic monetary policy. Second, it analyses the degree of euroization. Among the transmission channels, attention is paid to interest rate and exchange rate channels. The circumstances under which the transmission would be sub-optimal are discussed. Besides the impact on the monetary policy transmission, another risk of progressive spontaneous euroization is seen in the shift of the exchange rate risk from bigger to smaller enterprises in the economy. The available data do not allow a precise measurement of the degree of euroization. Nevertheless, both the ratio of euro-denominated over koruna-denominated deposits and the CNB's survey in 2003 sugg"@en . "Spontaneous Euroization in the Czech Republic (Is It a Problem and Why Not?)" . "2" . "Spontaneous Euroization in the Czech Republic (Is It a Problem and Why Not?)"@en . "monetary policy"@en . . "Hurn\u00EDk, Jarek" . . "RIV/61989100:27510/05:00012553" . "The paper offers a preliminary analysis of possible spontaneous euroization in the Czech economy. After a brief general introduction of the issue of currency substitution it specifically discusses two things. First, the transmission channels of potential spontaneous euroization, through which the process could possibly complicate the implementation of domestic monetary policy. Second, it analyses the degree of euroization. Among the transmission channels, attention is paid to interest rate and exchange rate channels. The circumstances under which the transmission would be sub-optimal are discussed. Besides the impact on the monetary policy transmission, another risk of progressive spontaneous euroization is seen in the shift of the exchange rate risk from bigger to smaller enterprises in the economy. The available data do not allow a precise measurement of the degree of euroization. Nevertheless, both the ratio of euro-denominated over koruna-denominated deposits and the CNB's survey in 2003 sugg" . "CZ - \u010Cesk\u00E1 republika" . . "V" . "27510" . "3"^^ . . .