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This diploma thesis deals with fiscal and monetary policy and their effect on economic development. The work is composed of theoretical and practical part. In the theoretical part are defined and described individual policies, including economic policy and their objectives, types, forms, tools and problems. The practical part analyzes the development of the Czech economy between 2004 and 2014. Also is solved econometric equation for inflation. In equations are achieving macroeconomic indicators: the annual change in the average nominal monthly wage, rate of household savings, inflows foreign direct investment, unemployment, gross domestic product and net exports. The same equation is solved in the Slovak Republic, which was chosen as relevant for comparison of economic development, basic data are using from the same period. An econometric model is solved by ordinary least squares method. Based on the analysis of economic development in the Czech Republic and results of the econometric model of inflation in Czech and Slovak Republic is proposing a change in the fiscal and monetary policy for the Czech Republic. |
