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dc.contributor.authorFrait, Jan
dc.contributor.authorKomárková, Zlatuše
dc.contributor.authorKomárek, Luboš
dc.date.accessioned2016-11-04T08:45:17Z
dc.date.available2016-11-04T08:45:17Z
dc.date.issued2011
dc.identifier.citationFinance a úvěr. 2011, roč. 61, č. 1, p. 5-33.cs
dc.identifier.issn0015-1920
dc.identifier.urihttp://hdl.handle.net/10084/116345
dc.description.abstractThe last financial crisis significantly changed views concerning the relationship between monetary policy, asset prices and financial stability We survey the pre-crisis opinions on the appropriate monetary policy reactions to financial market developments and delineate the new consensus which is currently emerging from the lessons taken. The new consensus is an amended model of flexible inflation targeting in which the central bank "should sometimes lean and can clean". We try to add the small open economy context to the debate and demonstrate that the optimal reactions of monetary policy-makers in small open economies may differ and that sometimes the optimal solution may not even be available due to the policies of the key world central banks acting as price makers. In such instances, second-best policies have to be considered.cs
dc.format.extent303875 bytes
dc.format.mimetypeapplication/pdf
dc.language.isoencs
dc.publisherUniverzita Karlova. Fakulta sociálních vědcs
dc.relation.ispartofseriesFinance a úvěrcs
dc.relation.urihttp://journal.fsv.cuni.cz/storage/1202_frait.pdfcs
dc.subjectmonetary policycs
dc.subjectfinancial stabilitycs
dc.subjectasset marketscs
dc.subjectmacroprudential policycs
dc.titleMonetary policy in a small economy after tsunami: a new consensus on the horizon?cs
dc.typearticlecs
dc.rights.accessopenAccess
dc.type.versionpublishedVersioncs
dc.type.statusPeer-reviewedcs
dc.description.sourceWeb of Sciencecs
dc.description.volume61cs
dc.description.issue1cs
dc.description.lastpage33cs
dc.description.firstpage5cs
dc.identifier.wos000289915600002


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