Vplyv kurzovej politiky centrálnej banky na ekonomiku v reakcii na hospodársku krízu

Abstract

The aim of the Bachelor thesis is to find out the influence of exchange rate policy on chosen economic indicators, which say about economic performance. Thesis is divided to three chapters. First chapter is about fundamental theoretical background of monetary and exchange rate policy, which helps reader to approach the issue, about which will be written in next chapters. The focus of second chapter is on monetary and exchange rate policy of Czech national bank, National Bank of Slovakia and the European Central Bank. In this chapter is described monetary policy of the Czech and Slovak Republic since divide of federative republic till present. In case of Slovakia is due to join the Eurozone since 2009 described common monetary policy of the European central bank. The third chapter examines the impact of the exchange rate on economics of the Czech Republic and Slovakia. Based on the territorial structure of foreign trade have been found out optimal exchange rate to examine the influence, specifically CZK/EUR for Czech Republic and EUR/CZK for Slovakia. Through regression and correlation analysis influence on the rate of inflation, gross domestic product growth rate, rate of unemployment and export is examined. Based on the findings of these analyses, the effect of exchange rate interventions provided by Czech National Bank since November 2013 till 6. April 2017 is evaluated.