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The Existence of Political Business Cycle in the Czech Republic / Politicko ekonomický cyklus v České republice

This thesis seeks to analyze the phenomenon of political business cycle (PBC) in the Czech Republic. It follows up the efforts of previous authors to determine the existence and subsequent character of the PBC in the country. Based upon the related works, it summarizes the current situation. However, unlike the previous analyses, this work concerns the monetary side of the economy. To be more precise, it examines the role of the Czech National Bank (CNB) within the process of political business cycle. It questions the level of independency of the CNB and poses a question whether the institution might actively participate in the creation of PBC. The following empirical analysis reveals that the CNB actively reduces the monetary base level in the economy within the pre-election period. It might signal its tendency to mitigate opportunistic behavior of the government.

Identiferoai:union.ndltd.org:nusl.cz/oai:invenio.nusl.cz:192646
Date January 2014
CreatorsBenko, Tomáš
ContributorsPotužák, Pavel, Dušek, Libor
PublisherVysoká škola ekonomická v Praze
Source SetsCzech ETDs
LanguageEnglish
Detected LanguageEnglish
Typeinfo:eu-repo/semantics/masterThesis
Rightsinfo:eu-repo/semantics/restrictedAccess

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