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Dear all,
We are excited to announce the first issue of the CNB Research News. Our plan is to inform you roughly once every quarter about our latest articles and upcoming events. If you have any feedback on our News or the results in our papers, please let us know.
Stay in touch,
Jan Brůha and Simona Malovaná
March 2020 – CNB WP 12/2019
The Elasticity of Substitution between Domestic and Foreign Goods: A Quantitative Survey
by Josef Bajzík, Tomáš Havránek, Zuzana Iršová and Jiří Schwarz
March 2020 – CNB WP 11/2019
Too Much of a Good Thing? Households’ Macroeconomic Conditions and Credit Dynamics
by Martin Hodula, Simona Malovaná and Jan Frait
March 2020 – CNB WP 10/2019
Introducing a New Index of Households’ Macroeconomic Conditions
by Martin Hodula, Simona Malovaná and Jan Frait
February 2020 – CNB WP 9/2019
How to Improve the Model Selection Procedure within a Stress Testing Framework
by Jiří Panoš and Petr Polák
February 2020 – CNB WP 7/2019
Coexistence of Physical and Crypto Assets in a Stochastic Endogenous Growth Model
by Alexis Derviz
February 2020 – CNB WP 7/2019
Coexistence of Physical and Crypto Assets in a Stochastic Endogenous Growth Model
by Alexis Derviz
January 2020 – CNB WP 6/2019
Introducing Macro-Financial Variables into Semi-Structural Model
by Dominika Ehrenbergerová and Simona Malovaná
January 2020 – CNB WP 5/2019
Monetary Policy and Shadow Banking: Trapped between a Rock and a Hard Place
by Martin Hodula
March 2020 – CNB RPN 3/2019
The Impact of Expectations on IFRS 9 Loan Loss Provisions
by Jiří Panoš and Petr Polák
December 2019 – CNB RPN 2/2019
Inflation Targeting Flexibility: The CNB’s Reaction Function under Scrutiny
by Jan Filáček and Ivan Sutóris
October 2019 – CNB RPN 1/2019
The Contemporary Role of Gold in Central Banks’ Balance Sheets
by Iveta Polášková, Luboš Komárek and Michal Škoda
— Hot Topics at Home and Abroad
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— Global Economic Outlook
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March 2020 – CNB GEO 3/2020
Stablecoins – A Gateway Between Conventional and Crypto Financial Universes?
by Alexis Derviz
February 2020 – CNB GEO 2/2020
Regional Disparities in Selected EU Countries
by Jan Babecký and Luboš Komárek
January 2020 – CNB GEO 1/2020
An Alternative, Satellite View of China
by Tomáš Adam and Soňa Benecká
December 2019 – CNB GEO 12/2019
The Boom in Short-Term Accommodation
by Petr Polák
— Thematic Articles on Financial Stability
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March 2020 – CNB FS 1/2020
The Relationship between Capital and Liquidity Prudential Instruments
by Zlatuše Komárková, Martin Hodula and Lukáš Pfeifer
May 2019 – CNB FS 4/2019
Minimum Requirement for Own Funds and Eligible Liabilities (MREL): General Approach of the Czech National Bank
by Tomáš Kahoun
May 2019 – CNB FS 3/2019
Estimating the Neutral Czech Government Bond Yield Curve
by Adam Kučera and Milan Szabo
May 2019 – CNB FS 2/2019
The Countercyclical Capital Buffer Rate for Covering the Usual Level of Cyclical Risks in the Czech Republic
by Miroslav Plašil
May 2019 – CNB FS 1/2019
Assessing House Price Sustainability
by Miroslav Plašil and Michal Andrle
— Central Bank Monitoring
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March 2020 – CBM I/2020
Monetary Policy Reviews at Central Banks
by Lucie Matějková
— Spotlight on the Czech Republic's Alignment with the Euro Area
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December 2019 – CNB AA/2019
Analyses of the Czech Republic's Current Economic Alignment with the Euro Area, December 2019
December 2019 – CNB AA/2019
Methodological Annex to the Analyses of the Czech Republic's Current Economic Alignment with the Euro Area
December 2019 – CNB AA 3/2019
Convergence of Regions in Selected EU Countries
by Jan Babecký and Luboš Komárek
December 2019 – CNB AA 2/2019
Synchronisation of Economic Activity in EU Countries
by Oxana Babecká Kucharčuková and Jan Brůha
December 2019 – CNB AA 1/2019
An Estimate of Selected Macroeconomic Impacts of Hypothetical Euro Adoption through the Lens of the CNB's Forecasting Model
by Jan Brůha and Jaromír Tonner
— Top Articles from the cnBlog
March 2020 – CNBLOG
Too Much of a Good Thing? Households' Macroeconomic Conditions and Credit Dynamics
by Jan Frait, Martin Hodula and Simona Malovaná
This blog article summarises the findings of their two research articles on the link between the macroeconomic conditions faced by households and their demand for credit. The authors show that households form their expectations about the future based on current trends, which can lead to excessive indebtedness in good times.
February 2020 – CNBLOG
Shadow Banking in Europe
by Martin Hodula
Martin Hodula's blog article summarises the findings of his two research articles on shadow banking in Europe. The first article explores the main factors contributing to the growth of shadow banking. The second article analyses the empirical relationship between the ECB's monetary policy and shadow banking growth in euro area countries.
January 2020 – CNBLOG
How to Consistently Model the Financial Cycle?
by Dominika Ehrenbergerová and Simona Malovaná
A blog article by Dominika Ehrenbergerová and Simona Malovaná summarising the findings of their research paper Introducing Macro-Financial Variables into a Semi-Structural Model, in which they come up with a consistent but flexible tool for forecasting selected macro-financial variables of the Czech economy. The authors show that the model is capable of anticipating turning points in the financial cycle conditional on knowledge of selected macro-financial variables.
July 2019 – CNBLOG
The CNB's Projection Model Gets a New Plus
by Petr Král and Karel Musil
The CNB has used the g3 model as its main forecasting tool since 2008. The new model contains a whole raft of extensions and thus adds a "plus" to the original "gee-three", not only in the name, but also in the form of better forecasting properties and a more detailed and realistic description of the behaviour of the Czech economy, which has significantly changed and "grown up" over the last 10 years.
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— Upcoming Events
21–23 September 2020
1–2 October 2020
November/December 2020
Note: moved from 25 May 2020 due to the coronavirus situation
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— Recent Events
27 May 2019
16-17 May 2019
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