Vliv devizových intervencí České národní banky v letech 2013-2017 na export České republiky

Abstract

This thesis focuses on foreign exchange interventions of the Czech National Bank and their influence on export. It deals with foreign exchange interventions, external economic equilibrium and the course of foreign exchange interventions in the Czech Republic in the years 2013-2017. In the thesis, the vector autoregression model and the vector error correction model are used to examine the relationship between the variables. At the same time, the use of these models in economics is also described. Five variables were included in the models where the effect of the exchange rate on exports was predominantly examined. The results showed that the initial impact of the foreign exchange interventions of the Czech National Bank on exports was positive. By including the delayed variables in the model, the positive effect becomes weaker or negative.