Vývoj úrokových sazeb a měnového kurzu v České Republice v návaznosti na teorii nekryté úrokové parity
Development of Interest Rates and Exchange Rate in the Czech Republic in Response to Theory of Uncovered Interest Parity
Author(s): Martin Maršík, Zuzana DrahošováSubject(s): Public Administration, Economic history, International relations/trade, Transformation Period (1990 - 2010), Present Times (2010 - today)
Published by: Vysoká škola evropských a regionálních studií, z. ú.
Keywords: interest differential; relative change of course; theory of uncovered interest parity; CZ;
Summary/Abstract: In this work the impact of the interest differential on change of the exchange rate is analyzed. The interest differential is a difference between the domestic and foreign interest rate. The positive interest differential raises the pressure on the appreciation of domestic currency, and negative interest differential on depreciation of domestic currency. The interest differential and relative change of course were analyzed on the time line of twelve years (2004-2015). The theory of uncovered interest parity was not proved on this time line, nor on the extended time line (1999-2015) in which the test was carried out.
Journal: Auspicia
- Issue Year: 2016
- Issue No: 3-4
- Page Range: 101-107
- Page Count: 7
- Language: Czech