Nezávislost centrální banky

Abstract

This thesis is about the independence of the central bank, especially of the Czech National Bank and then German Deutsche Bundesbank and the United States Federal Reserve System. The objective of this thesis is to evaluate the degree of independence of the Czech National Bank from its formation to the present day. The secondary goal is a comparison of independence of selected central banks. The thesis is divided into three chapters. The first chapter informs about monetary policy, functions and activities of the central bank in general. It also includes selected economic theories of independence of a central bank. Chapter two focuses on the monetary policy of the Czech National Bank, describes the selected indices evaluating the independence of a central bank and subsequently applies those indices to judge the independence of the Czech National Bank. The last chapter discusses the monetary policy of the Deutsche Bundesbank and the Federal Reserve Systém and evaluates their degree of independence. In this thesis it was found, that the selected central bank has the greatest degree of independence Deutsche Bundesbank, then Czech National Bank and eventually Federal Reserve Systém.