Are capital inflows in the CR inflationary?

1996 ◽  
Vol 5 (1) ◽  
Author(s):  
Tomáš Dvořák
Keyword(s):  
Czech Republic ◽  
Money Supply ◽  
Money Demand ◽  
Empirical Investigation ◽  
Demand Function ◽  
Supply And Demand ◽  
Capital Inflows ◽  
Supply Function ◽  
The Czech Republic ◽  
Net Foreign Assets

It is evident that the volume of capital inflows in the Czech Republic has had seriously monetary consequences. As shown in the section 2 net foreign assets accounted for most of the growth in the money supply in the Czech Republic during 1993 and 1994. Inflationary effects of capital inflows depend on whether capital inflows are driven by the money demand or by the money supply. The inflows driven by a rightward shift in the money demand function are not likely to result in inflation, while a shift in the money, supply function, caused perhaps by institutional change and greater availability of foreign funds, is likely to put pressure on prices. Empirical investigation of the supply and demand effects attempted to confirm the existence of the supply of money supply function in the Czech Republic. The application of appropriate econometric analysis in the turbulent period of 1992 - 1994 was somewhat problematic.

scholarly journals Money Demand and its Keynesian and Postkeynesian Concepts – case of the Czech Republic

2010 ◽  
Vol 58 (6) ◽  
pp. 209-226 ◽  
Author(s):  
Svatopluk Kapounek
Keyword(s):  
Czech Republic ◽  
Interest Rates ◽  
Money Supply ◽  
Money Demand ◽  
Demand Function ◽  
Demand Estimation ◽  
Central Banks ◽  
The Czech Republic ◽  
Macroeconomic Variables ◽  
Multiplier Effect

Money exogeneity, stable money demand and its interest rates elasticity is basic condition of central banks’ monetary policy implementation and efficiency. The stable money demand function ensures that the money supply would have predictable impact on the macroeconomic variables such as inflation and real economic growth.This article deals with the money demand estimation under the keynesisan and postkeynesian theo­re­ti­cal approaches. Although central banks may have certain control over the money supply, they cannot fix the stock of money in a country, caused by multiplier effect of deposits. Different trends in monetary aggregates fluctuation contribute to reject the money exogeneity hypothesis. The author applies the CUSUM and Hansen’s stability tests to identify instability in the models of the Czech Republic and Eurozone.

Central bank missteps are Emerging Europe's main risk

2017 ◽  
Keyword(s):  
Czech Republic ◽  
Capital Inflows ◽  
Bond Yields ◽  
Monetary Policies ◽  
Government Bonds ◽  
The Czech Republic ◽  
Content Type ◽  
International Investors ◽  
Global Stock Markets ◽  
Equity Index

Subject The implications of a sharp rise in foreign holdings of local currency-denominated government bonds in Emerging Europe. Significance A surge in capital inflows into the Czech Republic and Turkey is increasing the scope for a disorderly sell-off in financial markets, as both the US Federal Reserve (Fed) and the ECB begin simultaneously withdrawing monetary stimulus. While international investors’ appetite for higher-yielding assets remains strong because of low (or in some cases negative) bond yields in advanced economies, emerging markets (EM) are still vulnerable to the removal of stimulus by the Fed and the ECB. Impacts Global stock markets are at record highs: the rally in the S&P 500 equity index is now the second-strongest bull run in US history. Price pressures in Central Europe, particularly core inflation, will be subdued, except in the Czech Republic. This will allow central banks to maintain loose monetary policies which in turn will support regional bond markets.

scholarly journals Changes in the Cost Structure of Hogs Feeding in the Czech Republic

2015 ◽  
Vol 63 (4) ◽  
pp. 1387-1393 ◽  
Author(s):  
Vojtěch Tamáš ◽  
Jana Peterková
Keyword(s):  
Czech Republic ◽  
Agricultural Sector ◽  
Supply And Demand ◽  
Cost Structure ◽  
Security Requirements ◽  
Meat Production ◽  
Main Task ◽  
Pork Meat ◽  
The Czech Republic ◽  
The Cost

Modern hog breeding has a long tradition in the Czech Republic it is the stable branch of livestock production. Its main task is to produce high quality pork meat, which must meet all requirements of the processors and the final consumer. Pork meat occupies for decades in Czech Republic first place in consumption per one inhabitant (per year) and it forms more than 50% of the total annual meat consumption. This branch also plays an important role for producers of cereals, which largely contributes to the overall size and stability of the agricultural sector. The increasing imports were the main reason why many Czech hog breeding farms has been reduced or completely eliminated. Reducing numbers of pigs in the last decade is a reflection of supply and demand for pigs. The objecvive of this paper is to evaluate the changes in the cost structure for fattening of hogs and indicate how these changes are reflected in the competitiveness of Czech agriculture enterprises. Choice of optimal strategy of breeding and hog feeding already affects not only the requirements of food security, requirements of quality and affordability. Currently are also very important requirements for animal welfare and environmental protection with an emphasis on the sustainability of production and high hygiene standards. These measures require high investmens and operational costs are reflected in the worsening economy of pork meat production.

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