Vliv devizových intervencí na čistý export České republiky

The diploma thesis deals with the influence of foreign exchange interventions on net export of the Czech Republic. The first part deals with unconventional monetary policy instruments with focus on the exchange rate as a tool for zero lower bound situation. The reason why central banks use unconventional monetary policy instruments is described in this part as well as the impact of foreign exchange interventions on international trade. Furthermore, the thesis focuses on the international trade analysis of the Czech Republic and the influence of foreign exchange interventions on imports, exports, turnover and foreign trade balance. It is followed by the quantification of the relationship between the change of the nominal exchange rate CZK/EUR and the Czech international trade through a regression analysis. The results of the thesis show a positive impact of foreign exchange interventions on Czech international trade