Working Papers

From Czech National Bank, Research and Statistics Department
Contact information at EDIRC.
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2014/05: The Impact of Monetary Policy on Financing of Czech Firms

Ruslan Aliyev, Dana Hájková and Ivana Kubicova

2014/04: Explaining the Strength and Efficiency of Monetary Policy Transmission: A Panel of Impulse Responses from a Time-Varying Parameter Model

Jakub Matějů

2014/03: International Reserves: Facing Model Uncertainty

Soňa Benecká and Lubos Komarek

2014/02: Stress Testing the Private Household Sector Using Microdata

Kamil Galuscak, Petr Hlaváč and Petr Jakubík

2014/01: Bankruptcy, Investment, and Financial Constraints: Evidence from a Post-Transition Economy

Martin Pospisil and Jiří Schwarz

2013/15: Inflation and the Steeplechase Between Economic Activity Variables

Jaromir Baxa, Miroslav Plašil and Bořek Vašíček

2013/14: Identification of Asset Price Misalignments on Financial Markets With Extreme Value Theory

Narcisa Kadlcakova, Lubos Komarek, Zlatuse Komarkova and Michal Hlaváček

2013/13: Short-Term Determinants of the Idiosyncratic Sovereign Risk Premium: A Regime-Dependent Analysis for European Credit Default Swaps

Giovanni Calice, RongHui Miao, Filip Sterba and Bořek Vašíček

2013/12: Sources of Asymmetric Shocks: The Exchange Rate or Other Culprits?

Lubos Komarek and Michal Skořepa

2013/11: Collateral Composition, Diversification Risk, and Systemically Important Merchant Banks

Alexis Derviz

2013/10: Evaluating the Links Between the Financial and Real Sectors in a Small Open Economy: The Case of the Czech Republic

Tomas Konecny and Oxana Babecká-Kucharčuková

2013/09: The Effect of Non-Linearity Between Credit Conditions and Economic Activity on Density Forecasts

Michal Franta

2013/08: Structural Reforms and Economic Growth: A Meta-Analysis

Jan Babecký and Tomas Havranek

2013/07: Inflation and Output Comovement in the Euro Area: Love at Second Sight?

Michal Andrle, Jan Bruha and Serhat Solmaz

2013/06: Nowcasting Czech GDP in Real Time

Marek Rusnák

2013/05: Financial Development and Economic Growth: A Meta-Analysis

Tomas Havranek, Roman Horvath and Petra Valickova

2013/04: Currency Shocks to Export Sales of Importers: A Heterogeneous Firms Model and Czech Micro Estimates

Peter Tóth

2013/03: Inflation Reports and Models: How Well Do Central Banks Really Write?

Ales Bulir, Jaromir Hurnik and Katerina Smidkova

2013/02: Expected Regime Change: Transition Toward Nominal Exchange Rate Stability

František Brázdik

2013/01: Explaining the Czech Interbank Market Risk Premium

Adam Gersl and Jitka Lešanovská

2012/15: Assessing the Impact of Fiscal Measures on the Czech Economy

Robert Ambrisko, Jan Babecký, Jakub Rysanek and Vilem Valenta

2012/14: Contagion Risk in the Czech Financial System: A Network Analysis and Simulation Approach

Václav Hausenblas, Ivana Kubicová and Jitka Lešanovská

2012/13: Macroeconomic Effects of Fiscal Policy in the Czech Republic: Evidence Based on Various Identification Approaches in a VAR Framework

Michal Franta

2012/12: Macroeconomic Factors as Drivers of LGD Prediction: Empirical Evidence from the Czech Republic

Konstantin Belyaev, Aelita Belyaeva, Tomas Konecny, Jakub Seidler and Martin Vojtek

2012/11: Dynamic Stress Testing: The Framework for Testing Banking Sector Resilience Used by the Czech National Bank

Adam Gersl, Petr Jakubík, Tomas Konecny and Jakub Seidler

2012/10: Transmission Lags of Monetary Policy: A Meta-Analysis

Tomas Havranek and Marek Rusnák

2012/09: Monetary Policy and Exchange Rate Dynamics: The Exchange Rate as a Shock Absorber

Volha Audzei and František Brázdik

2012/08: Coordination Incentives in Cross-Border Macroprudential Regulation

Alexis Derviz and Jakub Seidler

2012/07: Measuring Sovereign Bond Spillover in Europe and the Impact of Rating News

Peter Claeys and Bořek Vašíček

2012/06: Tracking Monetary-Fiscal Interactions Across Time and Space

Michal Franta, Jan Libich and Petr Stehlik

2012/05: Banks' Capital and Liquidity Creation: Granger Causality Evidence

Roman Horvath, Jakub Seidler and Laurent Weill

2012/04: Changes in Inflation Dynamics under Inflation Targeting? Evidence from Central European Countries

Jaromir Baxa, Miroslav Plašil and Bořek Vašíček

2012/03: Does Central Bank Financial Strength Matter for Inflation? An Empirical Analysis

Soňa Benecká, Tomas Holub, Narcisa Kadlčáková and Ivana Kubicová

2012/02: Monetary Conditions and Banks' Behaviour in the Czech Republic

Adam Gersl, Petr Jakubík, Dorota Kowalczyk, Steven Ongena and Jose-Luis Peydro

2012/01: Real Wage Flexibility in the European Union: New Evidence from the Labour Cost Data

Jan Babecký and Kamil Dybczak

2011/15: Firm-Level Labour Demand: Adjustment in Good Times and During the Crisis

Jan Babecký, Kamil Galuscak and Lubomir Lizal

2011/14: Hedging Behaviour of Czech Exporting Firms

Vlastimil Cadek, Helena Rottová and Branislav Saxa

2011/13: Evaluating Changes in the Monetary Transmission Mechanism in the Czech Republic

Michal Franta, Roman Horvath and Marek Rusnák

2011/12: Monetary Policy Implications of Financial Frictions in the Czech Republic

Jakub Rysanek, Jaromir Tonner and Osvald Vasicek

2011/11: Models for Stress Testing Czech Banks' Liquidity Risk

Zlatuse Komarkova, Adam Gersl and Lubos Komarek

2011/10: Are Bayesian Fan Charts Useful for Central Banks? Uncertainty, Forecasting, and Financial Stability Stress Tests

Michal Franta, Jozef Baruník, Roman Horvath and Katerina Smidkova

2011/09: The Impact of Capital Measurement Error Correction on Firm-Level Production Function Estimation

Kamil Galuscak and Lubomir Lizal

2011/08: Early Warning Indicators of Economic Crises: Evidence from a Panel of 40 Developed Countries

Jan Babecký, Tomas Havranek, Jakub Matějů, Marek Rusnák, Katerina Smidkova and Bořek Vašíček

2011/07: Determinants of Horizontal Spillovers from FDI: Evidence from a Large Meta-Analysis

Tomas Havranek and Zuzana Irsova

2011/06: How are Inflation Targets Set?

Roman Horvath and Jakub Matějů

2011/05: Is Monetary Policy in the New EU Member States Asymmetric?

Bořek Vašíček

2011/04: Financial Frictions, Bubbles, and Macroprudential Policies

Alexis Derviz

2011/03: Time-Varying Monetary-Policy Rules and Financial Stress: Does Financial Instability Matter for Monetary Policy?

Jaromir Baxa, Roman Horvath and Bořek Vašíček

2011/02: How to Solve the Price Puzzle? A Meta-Analysis

Marek Rusnák, Tomas Havranek and Roman Horvath

2011/01: Sustainable Real Exchange Rates in the New EU Member States: What Did the Great Recession Change?

Jan Babecký, Ales Bulir and Katerina Smidkova