PhDr. Jaromír Baxa, Ph.D.

Education

2006-2013 Ph.D. degree, Institute of Economic Studies, Charles University
2004-2006 Master degree, Institute of Economic Studies, Charles University
2001-2003 Bachelor degree, Institute of Economic Studies, Charles University

Job history

2013+ Assistant Professor, Institute of Economic Studies, Charles University
2012+ Institute of Information Theory and Automation, Academy of Sciences of the Czech Republic (postdoc)
2010 European Central Bank, Fiscal Policies Division

Monographs

• Cahlík T., Švarc P., Švarcová N., Baxa J., & Hausenblas V. (2009). Network approaches in economics. Karolinum.

Chapters in monographs

• Horváth R., Baxa J., & Vašíček B. (2011). Time-varying monetary policy rules and financial stress. Handbook of central banking, financial regulation and supervision: after the financial crisis (pp. 268-313).

Articles

• Baxa J. (2007). Stock market optimism and cointegration among stocks : the case of the Prague stock exchange. Acta Oeconomica Pragensia, 15(4), 5-16.
• Baxa J., Plašil M., & Vašíček B. (2015). Changes in inflation dynamics under inflation targeting? Evidence from Central European countries. Economic Modelling, 44(January), 116-130. UT-WOS link
• Baxa J., Horváth R., & Vašíček B. (2013). Time-varying monetary-policy rules and financial stress: Does financial instability matter for monetary policy?. Journal of Financial Stability, 9(1), 117-138. UT-WOS link
• Baxa J., Horváth R., & Vašíček B. (2014). How does monetary policy change? Evidence on inflation-targeting countries. Macroeconomic Dynamics, 18(3), 593-630. UT-WOS link
• Baxa J., Plašil M., & Vašíček B. (2017). Inflation and the steeplechase between economic activity variables: evidence for G7 countries. B.E. Journal of Macroeconomics, 17(1), nestránkováno. UT-WOS link
• Baxa J., & Paulus M. (2024). Exchange rate misalignments, growth, and institutions. Empirical Economics, 67(4), 1705-1799. UT-WOS link
• Baxa J., & Šestořád T. (2025). Common and country-specific uncertainty shocks in europe: Why their nature matters for policy. Economic Modelling, 150(September 2025), UT-WOS link
• Afonso A., Baxa J., & Slavík M. (2018). Fiscal developments and financial stress: a threshold VAR analysis. Empirical Economics, 54(2), 395-423. UT-WOS link
• Stráský J., & Baxa J. (2014). Search for Predictors of Inflation Using VAR and BVAR: The Case of Czech Republic. Bulletin of the Czech Econometric Society, 21(33), 22-58.
• Buliskeria N., & Baxa J. (2022). Do rural banks matter that much? Burgess and Pande (2005) reconsidered. Journal of Applied Econometrics, 37(6), 1266-1274. UT-WOS link
• Švéda J., Baxa J., & Geršl A. (2024). Fiscal Consolidation under Market's Scrutiny: How Government Communication Affects Bond Yields. Finance a úvěr, 74(2), 221-254. UT-WOS link
• Vácha L., Šmolík F., & Baxa J. (2019). Comovement and disintegration of EU sovereign bond markets during the crisis. International Review of Economics and Finance, 64(November), 541-556. UT-WOS link

Contributions in the conference proceedings

• Baxa J. (2008). A simple real business cycle model of the Czech economy. Quantitative methods in economics : multiple criteria decision making XIV (pp. 28-39).
• Baxa J. (2008). A simple real business cycle model : an application on the Czech economy. Mathematical methods in economics 2008 : proceedings of the 26th international conference (pp. 9-9).
• Baxa J. (2009). Cooperative behavior and economic growth. Mathematical methods in economics 2009 (pp. 13-18).
• Baxa J. (2010). What the Data Say about the Effects of Fiscal Policy in the Czech Republic?. Mathematical Methods in Economics 2010 (pp. 24-29).
• Baxa J., & Paulus M. (2018). The New Fiscal Rules in the Czech Republic: Will They Work?. Fiscal Rules in the EU after the Crisis : a Selection of Papers Presented during the Budapest Public Finance Seminar 2018 (pp. 9-20).
• Adam T., & Baxa J. (2012). Rule-of-thumb households in the Czech Republic. Proceedings of 30th International Conference Mathematical Methods in Economics (pp. 8-13).

JEM216 - Advanced Macroeconomics
JEM116 - Applied Econometrics
JEM209 - History and Methodology of Economics
JEM211 - Philosophy, Economics and Politics: Current Debates
JEM158 - Tools for Modern Macroeconometrics

Please note that my capacity for the year 2026/2027 is already full.

Bakalářské práce

Currently, I'm interested in EU policies, inflation dynamics, and fiscal and monetary policies, and attempts to discover causal mechanisms in macroeconomics using modern identification methodologies.

I welcome attempts to replicate the results of interesting papers from good economic journals. The replication wiki might help to uncover which replications are needed: https://replication.uni-goettingen.de/wiki/index.php/Main_Page. Please note that for a decent thesis, one needs to go beyond simply reproducing the original results and present some broader form of replication using different data or an alternative method.

Topics from the history of economic thought: While the topics from the history of economic thought might be attractive for students, it is hard to come up with something truly novel and something that would meet the main criterion for a good economic thesis: own analytical contribution. However, what makes sense is to discuss and test some older hypotheses using either historical or contemporary data. If something like this comes to your mind, we can discuss the possibilities.

I also offer supervision of topics on economic analysis of conflicts and national security (failed states, terrorism and international aid, cross-border financial flows) + analyses of the economies of Ukraine and Russia.

Some topics listed below can be quite simple, while others can be more challenging.

Diplomové práce

Currently, I'm interested in EU policies, inflation dynamics, and fiscal and monetary policies, and attempts to discover causal mechanisms in macroeconomics using modern identification methodologies.

I welcome attempts to replicate the results of interesting papers from good economic journals. The replication wiki might help to uncover which replications are needed: https://replication.uni-goettingen.de/wiki/index.php/Main_Page. Please note that for a decent thesis, one needs to go beyond simply reproducing the original results and present some broader form of replication using different data or an alternative method.

Topics from the history of economic thought: While the topics from the history of economic thought might be attractive for students, it is hard to come up with something truly novel and something that would meet the main criterion for a good economic thesis: own analytical contribution. However, what makes sense is to discuss and test some older hypotheses using either historical or contemporary data. If something like this comes to your mind, we can discuss the possibilities.

I also offer supervision of topics on economic analysis of conflicts and national security (failed states, terrorism and international aid, cross-border financial flows) + analyses of the economies of Ukraine and Russia.

Some topics listed below can be quite simple, while others can be more challenging.

Selection of specific topics:

Effectiveness of EU cohesion policy: Does it make sense to spend on regional cohesion in the EU?
EU accession and corruption: Is there any causal link?
Identification of equilibrium exchange rates
High-frequency identification of monetary policy shocks and their effects in emerging economies
Empirical macro-finance models: How does (mainly monetary) policy affect financial markets? Both high- and low-frequency results can be interesting, particularly for other countries than the United States.
Macroeconomic effects of market-based monetary policy uncertainty by Bauer, Lakdawala, Mueller (Economic Journal, 2022).
Distributional aspects of business cycles
Determinants of wage growth in the CEE region. What explains the differentials?
Topics in economic growth (inequality, indebtedness, human capital)
Topics in economic history (20th century preferably, I'm mostly interested in the interplay between economic theory, economic policy, and vice versa)

2025-2027 Czech Science Foundation GACR 25-17769S: Understanding Household Responses to Inflation: Insights from Randomized Controlled Trials after High Inflation, principal investigator.

2023-2025 Technology Agency of the Czech Republic: TQ01000396 Survey of Short-Term and Long-Term Inflation Expectations of Czech Households, co-investigator.

2020-2022 Czech Science Foundation GACR 20-14990S, Economic Policy in Times of Uncertainty, principal investigator.

Macroeconomics, Economic policy, European integration