Publication details
Postavení centrální banky během procesu transformace a před vstupem do EU
| Title in English | Position of the central bank during the economic transition and before the EU accession. |
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| Authors | |
| Year of publication | 2002 |
| Type | Article in Proceedings |
| Conference | Specifika transformačního procesu ČR |
| MU Faculty or unit | |
| Citation | |
| Field | Economy |
| Keywords | economic transition; central bank; EU; monetary policy |
| Description | Monetary policy should be determined with regard to fiscal policy objectives and on the other hand, fiscal policy should allow for the fact that a given measure will provoke a corresponding response of monetary policy. Problems of mutual co-ordination of monetary and fiscal policies will depend on two basic facts: (i) on the legislatively enshrined relationship between the government and the central bank and (ii) on setting macroeconomic targets. Economic policy will obtain the best results, if monetary and fiscal policy measures (i.e. governments and central bank activities) will be mutually co-ordinated - not at random, but according to the set rule, i.e. contracted central-banks independence. It is also related with public setting and quantification of macroeconomic targets, position of the central bank with respect to the government, i.e. the degree of its independence and efficient public control. |
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