Ověření platnosti kvantitativní teorie peněz v České republice v období po skončení krize

This thesis aims to verify a validity of the quantity theory of money in a form of a monetarist model during the era of crisis and the successive conjuncture between 2008 and 2017 in the Czech Republic. Mentioned model is expressed via the exchange equation in a growth form. The data in the form of time rows had been collected quarterly between 2005 and 2017 and they underwent a seasonal adjustment. For the purpose of finding a positive relationship coming from an increasing money supply causing an increasement in the price level, is then created a vector autoregression model. A causal relationship where money supply increases the price level with a delay where n=11 is then found, together with a causal relationship where increasing price level decreases the money supply with a time delays n=1;5;10. Both of those results are underlaid in an economic theory. However, after undergoing a test of the Granger Causality, only price level lowering the money supply is confirmed. Therefore, this thesis could not have confirmed a validity of the quantity theory of money.