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Co způsobuje nerovnováhu běžných účtů v EU a jsou relevantní pro hospodářskou politiku?
dc.contributor.advisorBaxa, Jaromír
dc.creatorMainka, Jacob
dc.date.accessioned2020-10-06T10:06:05Z
dc.date.available2020-10-06T10:06:05Z
dc.date.issued2020
dc.identifier.urihttp://hdl.handle.net/20.500.11956/121135
dc.description.abstractBibliographic note MAINKA, Jacob. What Drives the Current Account (Im)balances in the EU and Are they Relevant to Economic Policy? Praha, 2020. 85 pages. Master thesis (Mgr.). Charles University, Faculty of Social Sciences, Institute of Economic Studies. Supervisor Jaromír Baxa, Ph.D. Abstract With the global financial crisis and the ensuing European sovereign debt crisis, current account imbalances have attracted enormous interest as both a cause and an indicator. The question therefore arises as to what drives them. In this master thesis I carry out a one-way fixed effects panel regression for the 28 EU countries for the period 1999-2018, testing thirteen potential drivers of the current account. From my baseline model, fiscal balance, domestic credit to private sector, total age dependency ratio and the output gap are found to be of robust statistical significance. An additional panel regression was only able to confirm to a small extent the German view that current account imbalances, high foreign debt and deviations from the inflation target bear responsibility for macroeconomic instability. In addition, I show that the current account has limited information value, its underlying drivers are difficult to target by economic policy, and that imbalances as such do not present a serious concern. Upper and...en_US
dc.languageEnglishcs_CZ
dc.language.isoen_US
dc.publisherUniverzita Karlova, Fakulta sociálních vědcs_CZ
dc.titleWhat Drives the Current Account (Im)balancesin the EU and Are they Relevant to Economic Policy?en_US
dc.typediplomová prácecs_CZ
dcterms.created2020
dcterms.dateAccepted2020-09-15
dc.description.departmentInstitut ekonomických studiícs_CZ
dc.description.departmentInstitute of Economic Studiesen_US
dc.description.facultyFaculty of Social Sciencesen_US
dc.description.facultyFakulta sociálních vědcs_CZ
dc.identifier.repId213935
dc.title.translatedCo způsobuje nerovnováhu běžných účtů v EU a jsou relevantní pro hospodářskou politiku?cs_CZ
dc.contributor.refereePaulus, Michal
thesis.degree.nameMgr.
thesis.degree.levelnavazující magisterskécs_CZ
thesis.degree.disciplineInternational Economic and Political Studiesen_US
thesis.degree.disciplineMezinárodní ekonomická a politická studiacs_CZ
thesis.degree.programInternational Economic and Political Studiesen_US
thesis.degree.programInternational Economic and Political Studies (Mezinárodní ek.a polit.studia)cs_CZ
uk.thesis.typediplomová prácecs_CZ
uk.taxonomy.organization-csFakulta sociálních věd::Institut ekonomických studiícs_CZ
uk.taxonomy.organization-enFaculty of Social Sciences::Institute of Economic Studiesen_US
uk.faculty-name.csFakulta sociálních vědcs_CZ
uk.faculty-name.enFaculty of Social Sciencesen_US
uk.faculty-abbr.csFSVcs_CZ
uk.degree-discipline.csMezinárodní ekonomická a politická studiacs_CZ
uk.degree-discipline.enInternational Economic and Political Studiesen_US
uk.degree-program.csInternational Economic and Political Studies (Mezinárodní ek.a polit.studia)cs_CZ
uk.degree-program.enInternational Economic and Political Studiesen_US
thesis.grade.csVýborněcs_CZ
thesis.grade.enExcellenten_US
uk.abstract.enBibliographic note MAINKA, Jacob. What Drives the Current Account (Im)balances in the EU and Are they Relevant to Economic Policy? Praha, 2020. 85 pages. Master thesis (Mgr.). Charles University, Faculty of Social Sciences, Institute of Economic Studies. Supervisor Jaromír Baxa, Ph.D. Abstract With the global financial crisis and the ensuing European sovereign debt crisis, current account imbalances have attracted enormous interest as both a cause and an indicator. The question therefore arises as to what drives them. In this master thesis I carry out a one-way fixed effects panel regression for the 28 EU countries for the period 1999-2018, testing thirteen potential drivers of the current account. From my baseline model, fiscal balance, domestic credit to private sector, total age dependency ratio and the output gap are found to be of robust statistical significance. An additional panel regression was only able to confirm to a small extent the German view that current account imbalances, high foreign debt and deviations from the inflation target bear responsibility for macroeconomic instability. In addition, I show that the current account has limited information value, its underlying drivers are difficult to target by economic policy, and that imbalances as such do not present a serious concern. Upper and...en_US
uk.file-availabilityV
uk.grantorUniverzita Karlova, Fakulta sociálních věd, Institut ekonomických studiícs_CZ
thesis.grade.codeA
uk.publication-placePrahacs_CZ


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