AUC IURIDICA

AUC IURIDICA

Acta Universitatis Carolinae Iuridica (AUC Iuridica) is a legal journal published since 1955, which presents longer essays as well as short articles on topics relevant for legal theory and international, European and Czech law. It also publishes works concerning current legislative problems.

Although intended primarily for domestic audience, AUC Iuridica is useful also for foreign experts, who can take advantage of summaries in foreign languages (English, German and French) and key words, which are systematically added to the main articles and essays.

The published articles are subject to peer reviews. If necessary, reviewed texts are sent back to the author for revision.

AUC Iuridica accepts contributions from any contributor on any current legal topic.

The journal is registered in the Czech National Bibliography (kept by the National Library of the Czech Republic) and in the Index to Foreign Legal Periodicals (kept by the American Association of Law Libraries).

The journal is archived in Portico.

AUC IURIDICA, Vol 66 No 3 (2020), 43–51

Změna zákona o České národní bance jako cesta k měnovému financování?

[Amendment to the Act on the Czech National Bank as an Opportunity for Monetary Financing?]

Michael Kohajda

DOI: https://doi.org/10.14712/23366478.2020.24
announced: 03. 09. 2020

abstract

In his article, the author deals with the amendment to the Act on the Czech National Bank adopted in the spring of 2020. He examines the process of adopting this amendment and also the reasons for its adoption from the point of view of monetary financing. He examines whether the consequence of this amendment potentially could not result in enabling monetary financing by the Czech central bank. Furthermore, his article also deals with the nature and risks of monetary financing, discusses the difference between direct and indirect monetary financing, the reasons for the ban on monetary financing and the importance of whether monetary financing is carried out directly or indirectly from the perspective of this ban and its reasons. In conclusion, the author evaluates the adopted amendment to the Act that this amendment introduces instruments that could be used for monetary financing, but that the specific use of the instruments is more important, as they can be used for monetary policy purposes or to maintain financial stability, where their use is generally acceptable, but also for the monetary financing, where their use should be prohibited

keywords: central bank; Czech National Bank; monetary financing; monetary law; monetary policy instruments

references (6)

1. KOHAJDA, M. Teoretické aspekty postavení České národní banky po 1.dubnu 2006. In: BEDNÁŘ, V. (ed.). Naděje právní vědy: Býkov 2006. Plzeň: Vydavatelství a nakladatelství Aleš Čeněk, 2006.

2. KOHAJDA, Michael. Financial system as new theoretical and legislative term. In: HULKÓ, G. - VYBÍRAL, R. (eds.). European Financial Law in Times of Crisis of the European Union. Budapešť: Dialóg Campus, 2019.

3. TOBER, S. Monetary Financing in the Euro Area: A Free Lunch? Intereconomics. 2015, roč. 50, č. 4, s. 214-220. CrossRef

4. Sněmovní tisk č. 532 v 8. období Poslanecké sněmovny PČR. Dostupný z: https://www.psp.cz/sqw/historie.sqw?T=532&O=8 [cit. 2020-05-07]

5. Sněmovní tisk č. 791 v 8. období Poslanecké sněmovny PČR. Dostupný z: https://www.psp.cz/sqw/historie.sqw?o=8&T=791 [cit. 2020-07-05]

6. Důvodová zpráva k návrhu zákona, kterým se mění zákon č. 6/1993 Sb., o České národní bance, ve znění pozdějších předpisů, str. 3. Dostupná z: https://www.psp.cz/sqw/text/tiskt.sqw?O=8&CT=791&CT1=0 [cit. 2020-07-05]

Creative Commons License
Změna zákona o České národní bance jako cesta k měnovému financování? is licensed under a Creative Commons Attribution 4.0 International License.

230 x 157 mm
published: 4 x per year
print price: 65 czk
ISSN: 0323-0619
E-ISSN: 2336-6478

Download