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Analýza problémů zemí Jižního křídla EMU a přistoupení ČR do Eurozóny / Analysis of problems of South wing countries of EMU and Ireland from the optimum currency area point of view and application on Czech Republic

This thesis focuses on analysis of current problems of so called "South wing countries" of EMU and Ireland (countries which are being called "PIIGS") from the theory of optimum currency area point of view. It uses the static and dynamic version of the theory as a framework for analyzing the problems of internal and external imbalance within those countries and mainly the connection between current accounts deficits, high level of private and public debts, loss of competitiveness in international trade and high percent of unemployment. The thesis comes with a conclusion that the main factors behind the crisis were inflation and inflation expectations which then through different inflation differentials created asymmetric shocks in monetary policy. This inflation differential phenomenon is described in Walters critique and with other theories creates the basis of analytical part. In the appendix it assesses the readiness of Czech Republic for accepting the euro, based on the analysis made in this thesis.

Identiferoai:union.ndltd.org:nusl.cz/oai:invenio.nusl.cz:71772
Date January 2010
CreatorsMichailidis, Dimitrios
ContributorsHurník, Jaromír, Dudáková, Tereza
PublisherVysoká škola ekonomická v Praze
Source SetsCzech ETDs
LanguageCzech
Detected LanguageEnglish
Typeinfo:eu-repo/semantics/masterThesis
Rightsinfo:eu-repo/semantics/restrictedAccess

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