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Transmise klíčových úrokových sazeb v české ekonomice
[Transmission of the key interest rates in the czech ekonomy]

Author

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  • Zdeněk Dvorný

Abstract

The presented study is an empirical investigation of interest rates transmission on the Czech financial market. Transmission was simulated by means of VAR model, built up to evaluate an impact of impuls change of one interest rate on the behaviour of the others in the given sample. The study shows that transmission from repo rates through PRIBORs to the yields on treasury bills can be determined. Next, transmission from repo rates to short interbank rates was proven as an important channel used by the Czech National Bank to stabilize unfavourable development on the money market in the middle 1997.

Suggested Citation

  • Zdeněk Dvorný, 2002. "Transmise klíčových úrokových sazeb v české ekonomice [Transmission of the key interest rates in the czech ekonomy]," Politická ekonomie, Prague University of Economics and Business, vol. 2002(6).
    • Handle: RePEc:prg:jnlpol:v:2002:y:2002:i:6:id:386
    DOI: 10.18267/j.polek.386
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    Cited by:

    1. Dušan Staniek, 2018. "The Expectations Hypothesis in the Theory and Practice of Current Interest Rate Instruments [Hypotéza očekávání v teorii a praxi současných úrokových instrumentů]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2018(2), pages 61-79.

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