Společné a rozdílné aspekty měnové politiky Rakouska a Československa v letech 1918-1929

The main thesis of this paper is to identify and describe the common and different aspects of the monetary policies of Austria and Czechoslovakia in the years 1918-1929, as one of the possible determinants of post-war economic development of both countries. As the successor states to the Austro-Hungarian monarchy both countries faced the same currency problems, although Czechoslovakia was on the winning side and Austria on the losing side, which determined the economic conditions in both countries in their beginnings. To address monetary issues each country had a different approach, while for example Austria experienced post-war hyperinflation Czechoslovakia executed the first wave of deflation. Despite the successes of the Czechoslovak economy in the period under review, only by comparing them to Austria showed that against all odds the economic performance of Austria was better. One of the possible causes was a different implementation of monetary policy, which is the central theme of this paper. Although the two countries are once again "reunited" in the European Union, their mutual relations are still impeded by specific problems whose origins can also be traced to the interwar period.