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CNB > Economic research > Research economists > Profiles > Tomáš Holub

Tomáš Holub

Executive Director
Monetary Department
Phone: +420 224 412 340
Fields: monetary economics, international macroeconomics
Education: Ph.D. (economics), Charles University in Prague, 2001

Recent CNB Publications


Selected Publications in Refereed Journals

  • The Czech National Bank’s Role since the Global Crisis, Public Finance Quarterly (Hungary), Focus: New central bank policies, 2016/1, 65-93 (with Tibor Hlédik and Petr Král)
  • Central Bank Losses and Economic Convergence, Finance a úvěr – Czech Journal of Economics and Finance, 2009, 59 (3), 190-215 (with Martin Cincibuch and Jaromír Hurník)
  • Inflation Target Fulfillment in the Czech Republic in 1998-2007: Some Stylized Facts, Finance a úvěr – Czech Journal of Economics and Finance, 2008, 58 (9-10), 406-424 (with Juraj Antal and Michal Hlaváček)
  • Causes of Deviations from the CNB‘s Inflation Targets: An Empirical Analysis, Finance a úvěr – Czech Journal of Economics and Finance, 2008, 58 (9-10), 425-433.
  • Ten Years of Czech Inflation Targeting: Missed Targets and Anchored Expectations, Emerging Markets Finance and Trade, 2008, 44 (6), 67-86 (with Jaromír Hurník)
  • Exchange Rate Arrangements Prior to Euro Adoption, Acta Universitas Carolinae Oeconomica – Czech Economic Review, 2007, 1 (3), 312-323 (with Juraj Antal)
  • Foreign Exchange Interventions Under Inflation Targeting:  The Czech Experience, Contemporary Economic Policy, 2006, 24 (4), 475–491 (with Adam Geršl)
  • Price Convergence in EU-accession Countries, Économie Internationale, 2005, 102, 59-82 (with M. Čihák)
  • Price Convergence: What Can the Balassa-Samuelson Model Tell Us?, Finance a úvěr, 2003, 53 (7-8),  333-355 (with Martin Čihák)

Other Publications

  • Czech Magic : Implementing Inflation-Forecast Targeting at the CNB. IMF Working Paper, 2017, 17/21 (with Douglas Laxton, Hou Wang, Kevin Clinton and Tibor Hlédik)
  • Analyses of the Czech Republic's Current Economic Alignment with the Euro Area, 2016, 2015, 2014, 2013, 2012, 2011, 2010, 2009, and 2008 (regular annual volume/book of the Czech National Bank on the economic preparedness of the Czech Republic for the euro adoption; collective of authors)
  • Exchange Rate Appreciation and Negative Central Bank Capital: Is There a Problem? In Milton, S., and P. Sinclair  (eds.) The Capital Needs of Central Banks, Routledge, 2011 (with Jan Frait)
  • Czech Trade, Exchange Rate and Monetary Policies in the 1990s. In DRÁBEK, Z. (ed.): Can Regional Integration Arrangements Enforce Trade Discipline? The Story of the EU Enlargement, Palgrave Macmillan, 2005, 113-153 (with Michaela Erbenová)
  • Convergence of Relative Prices and Inflation in the CEE Countries. IMF Working Paper, 2001, 01/124 (with Martin Čihák)

Other Information

1997 Bolzano Award (Charles University).
2001 Olga Radzyner Award (Oesterreichische Nationalbank).
2002 Czech Minister of Education Award for Outstanding Students and Graduates.

Grant Agency of the Czech Academy of Sciences, Grant Agency of Charles University, Finance a úvěr - Czech Journal of Economics and Finance, Emerging Markets Finance and Trade, Ekonomický časopis, Comparative Economic Studies, Communist and Post-Communist Studies, Review of Development Economics.

Academic career
Associate Professor, Institute of Economic Studies, Faculty of Social Sciences, Charles University, Prague.

Professional associations
Czech Economic Society, Member of the Board (Vice-President in 2004-2005, President in 2006-2007).