Luboš Komárek
Biographic Data
| ID | 4125295 |
|---|---|
| NAME | Luboš Komárek |
| GIVEN NAMES | Luboš |
| FAMILY NAME | Komárek |
| SIGNATURE | KOMÁREK L |
| AFFILIATIONS | Czech National Bank |
| ORCID | 0000-0002-7877-0844 |
| VERIFIED | Yes |
| TOTAL WORKS | 11 |
| TOTAL CITATIONS | 10 |
| WORKS AS AUTHOR | 11 |
| WORKS AS EDITOR | 0 |
| FIRST PUBLICATION YEAR | 2006 |
| LATEST PUBLICATION YEAR | 2021 |
| H-INDEX | 2 |
The Contemporary Role of Gold in Central Banks' Balance Sheets
The article focuses on the motives and trends in gold holdings by central banks in recent decades. It examines the correlation between the nominal and real price of gold and selected macroeconomic variables and financial assets over the financial and business cycles. In this context, it outlines gold investment opportunities for central banks and other investors. The paper also highlights differences in gold holdings between the central banks of …
Behavioural and Fundamental Equilibrium Exchange Rate of the Czech Koruna
The article discusses the approaches and options for identification of equilibrium exchange rate. It focuses mainly on the outcomes of behavioural (BEER) and fundamental (FEER) model of the equilibrium exchange rate of the Czech Koruna, which are presented in both nominal and real terms. The results of both models of equilibrium exchange rate (BEER and FEER) showed significant long-term appreciation trend, mainly due to faster growth in labour pr…
German Economic "Locomotive" and the Czech Economy
The article is focused on the analysis of export performance of the German economy, including the model scenarios that illustrate the transmission of shocks to the external environment of the Germany into the Czech economy. The analysis is motivated by the fact that the German economy is by far the largest trading partner of the Czech Republic since its establishment in 1993 and that Germany plays the role of an economic "locomotive" in the broad…
Will Us Dollar Continue as the World Most Important Reserve Currency
The article aims to show both the still very strong position of the USD in the global financial system and assess its likely future position. It illustrates that although the U.S. is no longer the dominant global economic power that it was when the dollar became the global reserve currency, the dollar so far is not in immediate danger of losing its privileged position. Despite the challenges facing the USD as the global reserve currency, it conti…
Monetary Policy and Price of Oil
The article discusses the relationship between monetary policy and price of oil, in broader sense price of commodities. Firstly it focuses on describing the relationship of key macroeconomic variables, gas prices and other commodities against oil prices. Subsequently, it discusses the existence of a "transmission channels" through which monetary policy can be propagated into oil prices (or prices of commodities). Secondly it provides further insi…
Methods of Identification Asset Price Bubbles In the Czech Economy
The article discusses the approaches and options for identification of disequilibrium asset prices movements. It focuses mainly on theoretical and empirical methods for identifying the so-called "bubbles" in asset prices. Subsequently, the dissimilarity among foreign exchange, stock and real estate markets in the Czech Republic is discussed, and application of selected methods (ratios, statistical and econometric methods) for identification of bu…
A Long-Term Real Appreciation as the Phenomenon of Economic Convergence
The paper discusses the phenomenon of long-term real equilibrium appreciation of the koruna in the context of economic, i.e. nominal and real convergence. The real appreciation can take place either through a nominal exchange rate channel or through inflation differential channel vis-ĂĄ-vis the reference country, or through a combination of those two channels. However, the choice of monetary policy regime predetermines the occurrence and intensit…
Equilibrium Development of Housing Prices in the Czech Republic
This article, based on an empirical analysis, discusses factors affecting property prices and tries to identify periods of property price overvaluation in the Czech Republic. To achieve this, the article uses both relatively simple approach using ratios related to the house prices (e.g. price-to-rent or price-to-income indicators) as well as international comparison and more advanced econometrical approach. Within this econometrical approach we a…
Selective Approaches and Experiences with Problematic Assets in Banking Sector
This paper analyses various approaches to dealing with problematic assets of the banking sector. These approaches include the establishment of an asset management company, capital injection and sale of the bank, purchase and assumption transactions, liquidation or bridge bank. All these approaches are evaluated with respect to Czech transformation experience and with respect to experience of other foreign countries. The paper concludes that the e…
Definition and Evaluation of the Central Bank agresivity
This paper examines definitions and assessments of central bank aggressiveness. It shows theoretical reasons why there is certain minimal threshold value if CB wants to stabilize price level and on the other hand, why excessive reactions are suboptimal. The empirical part suggests that aggressiveness could be measured by defining certain indicators, based on variability of interest rates, inflation and output gap. The results are reported for cou…
Half a century of the world money development
The article provides a general description of the world money development in both developed and developing countries during the second half of 20th century. We were primarily focusing on the long run trends in dollar gold prices, monetary aggregates (broad and narrow money), foreign exchange reserves, inflation and interest rates. We found that after relatively tranquil periods of fifties and sixties, next three decades witnessed dramatic changes…
Monetary Policy and Price of Oil
The article discusses the relationship between monetary policy and price of oil, in broader sense price of commodities. Firstly it focuses on describing the relationship of key macroeconomic variables, gas prices and other commodities against oil prices. Subsequently, it discusses the existence of a "transmission channels" through which monetary policy can be propagated into oil prices (or prices of commodities). Secondly it provides further insi…
Equilibrium Development of Housing Prices in the Czech Republic
This article, based on an empirical analysis, discusses factors affecting property prices and tries to identify periods of property price overvaluation in the Czech Republic. To achieve this, the article uses both relatively simple approach using ratios related to the house prices (e.g. price-to-rent or price-to-income indicators) as well as international comparison and more advanced econometrical approach. Within this econometrical approach we a…
Half a century of the world money development
The article provides a general description of the world money development in both developed and developing countries during the second half of 20th century. We were primarily focusing on the long run trends in dollar gold prices, monetary aggregates (broad and narrow money), foreign exchange reserves, inflation and interest rates. We found that after relatively tranquil periods of fifties and sixties, next three decades witnessed dramatic changes…
German Economic "Locomotive" and the Czech Economy
The article is focused on the analysis of export performance of the German economy, including the model scenarios that illustrate the transmission of shocks to the external environment of the Germany into the Czech economy. The analysis is motivated by the fact that the German economy is by far the largest trading partner of the Czech Republic since its establishment in 1993 and that Germany plays the role of an economic "locomotive" in the broad…
Will Us Dollar Continue as the World Most Important Reserve Currency
The article aims to show both the still very strong position of the USD in the global financial system and assess its likely future position. It illustrates that although the U.S. is no longer the dominant global economic power that it was when the dollar became the global reserve currency, the dollar so far is not in immediate danger of losing its privileged position. Despite the challenges facing the USD as the global reserve currency, it conti…
Methods of Identification Asset Price Bubbles In the Czech Economy
The article discusses the approaches and options for identification of disequilibrium asset prices movements. It focuses mainly on theoretical and empirical methods for identifying the so-called "bubbles" in asset prices. Subsequently, the dissimilarity among foreign exchange, stock and real estate markets in the Czech Republic is discussed, and application of selected methods (ratios, statistical and econometric methods) for identification of bu…
A Long-Term Real Appreciation as the Phenomenon of Economic Convergence
The paper discusses the phenomenon of long-term real equilibrium appreciation of the koruna in the context of economic, i.e. nominal and real convergence. The real appreciation can take place either through a nominal exchange rate channel or through inflation differential channel vis-ĂĄ-vis the reference country, or through a combination of those two channels. However, the choice of monetary policy regime predetermines the occurrence and intensit…
Half a century of the world money development
The article provides a general description of the world money development in both developed and developing countries during the second half of 20th century. We were primarily focusing on the long run trends in dollar gold prices, monetary aggregates (broad and narrow money), foreign exchange reserves, inflation and interest rates. We found that after relatively tranquil periods of fifties and sixties, next three decades witnessed dramatic changes…
Selective Approaches and Experiences with Problematic Assets in Banking Sector
This paper analyses various approaches to dealing with problematic assets of the banking sector. These approaches include the establishment of an asset management company, capital injection and sale of the bank, purchase and assumption transactions, liquidation or bridge bank. All these approaches are evaluated with respect to Czech transformation experience and with respect to experience of other foreign countries. The paper concludes that the e…
Definition and Evaluation of the Central Bank agresivity
This paper examines definitions and assessments of central bank aggressiveness. It shows theoretical reasons why there is certain minimal threshold value if CB wants to stabilize price level and on the other hand, why excessive reactions are suboptimal. The empirical part suggests that aggressiveness could be measured by defining certain indicators, based on variability of interest rates, inflation and output gap. The results are reported for cou…
A Long-Term Real Appreciation as the Phenomenon of Economic Convergence
The paper discusses the phenomenon of long-term real equilibrium appreciation of the koruna in the context of economic, i.e. nominal and real convergence. The real appreciation can take place either through a nominal exchange rate channel or through inflation differential channel vis-ĂĄ-vis the reference country, or through a combination of those two channels. However, the choice of monetary policy regime predetermines the occurrence and intensit…
Equilibrium Development of Housing Prices in the Czech Republic
This article, based on an empirical analysis, discusses factors affecting property prices and tries to identify periods of property price overvaluation in the Czech Republic. To achieve this, the article uses both relatively simple approach using ratios related to the house prices (e.g. price-to-rent or price-to-income indicators) as well as international comparison and more advanced econometrical approach. Within this econometrical approach we a…
Monetary Policy and Price of Oil
The article discusses the relationship between monetary policy and price of oil, in broader sense price of commodities. Firstly it focuses on describing the relationship of key macroeconomic variables, gas prices and other commodities against oil prices. Subsequently, it discusses the existence of a "transmission channels" through which monetary policy can be propagated into oil prices (or prices of commodities). Secondly it provides further insi…
Methods of Identification Asset Price Bubbles In the Czech Economy
The article discusses the approaches and options for identification of disequilibrium asset prices movements. It focuses mainly on theoretical and empirical methods for identifying the so-called "bubbles" in asset prices. Subsequently, the dissimilarity among foreign exchange, stock and real estate markets in the Czech Republic is discussed, and application of selected methods (ratios, statistical and econometric methods) for identification of bu…
Behavioural and Fundamental Equilibrium Exchange Rate of the Czech Koruna
The article discusses the approaches and options for identification of equilibrium exchange rate. It focuses mainly on the outcomes of behavioural (BEER) and fundamental (FEER) model of the equilibrium exchange rate of the Czech Koruna, which are presented in both nominal and real terms. The results of both models of equilibrium exchange rate (BEER and FEER) showed significant long-term appreciation trend, mainly due to faster growth in labour pr…
German Economic "Locomotive" and the Czech Economy
The article is focused on the analysis of export performance of the German economy, including the model scenarios that illustrate the transmission of shocks to the external environment of the Germany into the Czech economy. The analysis is motivated by the fact that the German economy is by far the largest trading partner of the Czech Republic since its establishment in 1993 and that Germany plays the role of an economic "locomotive" in the broad…
Will Us Dollar Continue as the World Most Important Reserve Currency
The article aims to show both the still very strong position of the USD in the global financial system and assess its likely future position. It illustrates that although the U.S. is no longer the dominant global economic power that it was when the dollar became the global reserve currency, the dollar so far is not in immediate danger of losing its privileged position. Despite the challenges facing the USD as the global reserve currency, it conti…
The Contemporary Role of Gold in Central Banks' Balance Sheets
The article focuses on the motives and trends in gold holdings by central banks in recent decades. It examines the correlation between the nominal and real price of gold and selected macroeconomic variables and financial assets over the financial and business cycles. In this context, it outlines gold investment opportunities for central banks and other investors. The paper also highlights differences in gold holdings between the central banks of …
Economics (11 works) · Monetary economics (8 works) · Macroeconomics (7 works) · Czech (6 works) · Monetary Policy and Economic Impact (6 works) · Finance (5 works) · Finance (5 works) · Global Financial Crisis and Policies (5 works) · Business (4 works) · Econometrics (4 works)