Suchergebnisse

The ECB concept of analysis of deviation of actual money stock development from its long run equilibrium development is based on the assumption that bigger deviation signalizes risks for the price stability. The ECB considers three measures of this deviation: nominal money gap, real money gap & monetary overhang/shortfall. The calculation of gap between the actual & the equilibrium development of money stock in nominal & real expression is not reasonable at the present time in Czech Republic. The calculation of monetary overhang/shortfall, which is based on the long run equilibrium value of money stock given by model of money demand, seems to be more employable. 3 Figures, 5 References. Adapted from the source document.