| Popis: |
Diploma thesis deals with evaluating effectiveness of CNB monetary policy in a low interest rate environment. First part of the thesis focuses on identification of monetary policy transmission channels and alternative monetary practices rec-ommended for use in a low inflation environment. Next part of the thesis focuses on qualitative analysis of the impacts of CNB monetary policy between years 2008 to 2015 on inflation rate. These impacts are then quantified by correlation and regression analysis. Based on results of qualitative and quantitative analysis it was concluded, that the effectiveness of CNB policy was low, due to inefficiencies in transmission mechanism and high dependence on foreign economic develop-ment. Based on the conclusion, a recommendations for future monetary policy were made. |
