Má měnový agregát M3 vliv na inflaci? Případová studie České republiky, Švýcarska a Izraele

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dc.contributor.author Černohorská, Liběna
dc.contributor.author Maléř, Petr
dc.date.accessioned 2020-02-06T12:46:06Z
dc.date.available 2020-02-06T12:46:06Z
dc.date.issued 2019
dc.identifier.issn 1211-555X (Print)
dc.identifier.issn 1804-8048 (Online)
dc.identifier.uri https://hdl.handle.net/10195/74594
dc.description.abstract The aim of the paper is to analyse the influence of monetary aggregate M3 on inflation in the Czech Republic, Switzerland and Israel between the years 2000 and 2017. The central banks in selected countries have not been able to fulfill their stated goal of achieving price stability. During the period under review, the selected central banks chose foreign exchange intervention as an instrument of unconventional monetary policy to achieve the set inflation target. The analysis of monetary policy in the selected countries will be determined by the long-term relationships between the M3 monetary aggregate and the inflation. Selected indicators were analyzed on quarterly data in the Czech Republic, Switzerland and Israel using the Engle - Granger cointegration test. We have found, based on the tests performed, that monetary policy in the monitored countries was not quite effective in the years 2000- 2017 because we did not confirm in our empirical analyzes the long-term relationship between the monetary aggregate M3 in relation to inflation. en
dc.format p. 41 - 52 (12 s.)
dc.language.iso cze
dc.publisher University of Pardubice en
dc.relation.ispartof Scientific papers of the University of Pardubice. Series D, Faculty of Economics and Administration. 47/2019 en
dc.rights open access en
dc.subject Engle-Granger test en
dc.subject foreign exchange intervention en
dc.subject inflation en
dc.subject monetary policy en
dc.subject M3 en
dc.title Má měnový agregát M3 vliv na inflaci? Případová studie České republiky, Švýcarska a Izraele cze
dc.title.alternative Does the monetary aggregate M3 the affect on the inflation? A case study of the Czech republic, Switzerland and Israel en
dc.type Article en
dc.peerreviewed yes en
dc.publicationstatus published en
dc.subject.jel E51
dc.subject.jel E47
dc.subject.jel C32
dc.subject.jel O24


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