E58 - Central Banks and Their PoliciesNávrat zpět

The aim of this paper is to make a comparison of the banking sector in the Czech Republic and United Kingdom. Selected banking sectors are compared according to independence of their central bank, the regulation and supervision of financial markets in these countries, the type of banking, financial institutions, inflation targeting, interest rates and capital adequacy. The banking sector in the Czech Republic and the United Kingdom are part of the European financial market. Yet they show differences that are caused by the historical development and the different position of central banks and their policy during financial crises. Comparison of banking systems and central banks is performed based on descriptive and measurable indicators. Selected central bank used unconventional monetary policy response to the challenges of the financial crisis. The biggest difference lies in the regulation of banking sectors monitored and used instruments of monetary policy in times of financial crisis and they differ also in the used models of banking systems.

The aim of this paper is to evaluate mutual interaction of fiscal and monetary policy in the Czech Republic and in Slovakia. The relationship - cooperation or conflict, are basic determinants of successful implementation for economic policy of the state. Fiscal and monetary policies have usually different aims and some conflict situations may arise. The game-theoretical approach is responsible for creating the theoretical model, which is then dealt with the empirical analysis by the method of the ordinary least squares. We find a stabilizing role of monetary policy in both countries and the dominant role of monetary policy in the Czech Republic.