Matej Opatrný, Master student Behavioural Economics at Erasmus School of Economics, was invited to the Czech National Bank (CNB) to give an interview about his bachelor thesis. In his thesis, Matej studied the exchange rate commitment of the Czech National Bank (CNB) and the impact of the interventions on three macroeconomic indicators - inflation, GDP per capita and unemployment.
'The effects on unemployment were most striking. Converted into jobs, the exchange rate commitment helped create about 100,000 jobs. The effect on GDP per capita also turned out relatively positive, although here I should add that drawdown of European subsidies peaked in 2014 and this had a large upward effect on GDP.' According to Opatrný
Opatrný recently won the Young Economist of the Year 2016 competition of the Czech Economic Society with his thesis.
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See below for the English transcript of the interview
Click here for the complete interview at Czech National Bank (with English subtitles)
Click here for the IES working paper 'Quantifying the Effects of the CNB's Exchange Rate Commitment: A Synthetic Control Method Approach'