publication . Report . 2000

Monetary Transmission and Asset - Liability management by financial institutions in transitional economies - implications for czech monetary policy

Derviz, Alexis;
Open Access English
  • Published: 01 Jan 2000
  • Publisher: Česká národní banka
  • Country: Czech Republic
The paper deals with the transmission of monetary policy within the financial sector. The objective is to link an optimizing stochastic model of portfolio decisions by a representative financial institution with a number of features that this optimizing behavior implies for monetary transmission and credit conditions in a transitional economy. The main example is the intermediation performance of Czech financial sector in the years 1993 to 1999.
free text keywords: monetární politika; makroekonomie; aktiva; Czech national bank; finanční instituce
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