Mojmír Hampl

Mojmír Hampl (born 13 March 1975) is a Czech economist, who has been the Vice-Governor of the Czech National Bank since 1 March 2008. His term expired on 30 November 2018. He previously served as a board member of the Bank from 1 December 2006 to 28 February 2008. He now serves as a board member of the Institute of Economic Education INEV in Prague.[1]

Mojmír Hampl
Vice-Governor of the Czech National Bank
In office
1 March 2008 – 30 November 2018
PresidentVáclav Klaus
Preceded byLuděk Niedermayer
Succeeded byMarek Mora
Personal details
Born (1975-03-13) 13 March 1975
Zlín, Czechoslovakia
NationalityCzech
Alma materUniversity of Economics, Prague
University of Surrey

Career

Mojmír Hampl was born in Zlín and studied economics at the University of Economics, Prague. He defended his PhD thesis at the same institution in 2004. Afterwards he also pursued postgraduate education at the University of Surrey in the United Kingdom, where he obtained the title Master of Science.

He started to work at the Czech National Bank in 1998 as an economic analyst. Between 2002 and 2004, he worked at Česká spořitelna, a Czech commercial bank, as an analyst of financial markets in Central and Eastern Europe. At the same time he also served as an external advisor to the Czech Ministry of Finance responsible for the preparation of public finance reforms. Between 2004 and 2006 he served as a board member and director of the Czech Consolidation Agency.

President Václav Klaus appointed Hampl a member of the Czech National Bank's board on 1 December 2006 and then Vice-Governor on 1 March 2008. In 2012 Hampl was reappointed for another six-year term, which expired on 30 November 2018.

Hampl is a member of the academic council of Škoda Auto University in Mladá Boleslav, scientific council of Tomas Bata University in Zlín, scientific council of Jan Evangelista Purkyně University in Ústí nad Labem, and was an editorial board member of the czech history newspaper The Twentieth Century. He lectures at Czech and foreign universities, including University of Oxford.[2]

In 1999 Hampl received the prize Young Economist of the year awarded by the Czech Economic Society. He has published around 150 popular and scientific articles in the fields of economic methodology, public choice theory, monetary policy, natural resources and general economic theory.

Mojmír Hampl is married with two children.

Controversies

Mojmír Hampl has been a supporter of helicopter money,[3] which he calls "direct support of consumption."[4] He argues that, in a deep recession accompanied by deflation, central banks should create new money and send them to households via central bank digital currency.[5] According to Hampl, such a policy would circumvent the complicated monetary transmission mechanism inherent in the use of quantitative easing and support aggregate demand directly.[4] His proposals were endorsed by, for example, Eric Lonergan.[6] However, critics claim that helicopter money drops could lead to a sharp increase in inflation rates.[7] Mojmír Hampl is also opposed to euro adoption in the Czech Republic[8] and gave a speech in the European Parliament on the potential break-up of the euro area.[9] In his speeches he frequently questions a potential of cryptocurrencies to become a full-fledged alternative to conventional money and defends a traditional elastic money system.[10][11] He has also been a fervent opponent of the introduction of the European Union financial transaction tax.

In 2010 he had a public dispute with the IMF caused by his claim in the Austrian newspaper Der Standard that the IMF by its communication effectively worsened the impacts of the financial crisis of 2007–2008 on Central and Eastern Europe. The IMF denied this claim.[12]

References
  1. https://inev.cz/en/
  2. Hampl, Mojmír (31 May 2018). "Mojmír Hampl: To be or not to be in the eurozone? An answer from Prague". Cite journal requires |journal= (help)
  3. "Helicopter money is "a real possibility," says Czech central banker". 15 March 2018.
  4. "ČNB". cnb.cz.
  5. Hampl, Mojmir; Havranek, Tomas (23 November 2018). "Central Bank Capital as an Instrument of Monetary Policy" – via ideas.repec.org.
  6. "Central bank 'equity' debunked – Philosophy of Money". 23 August 2018.
  7. "The problem with helicopter money – GRI". 23 September 2016.
  8. Hampl, Mojmír (12 October 2018). "Mojmír Hampl: Is the euro zone still an attractive target for countries outside the euro? A view from the Czech Republic". Cite journal requires |journal= (help)
  9. http://mojmirhampl.com/priloha/538/EU%20Parlament%20-%20Junge%20Freiheit.pdf
  10. https://www.bis.org/review/r180308a.htm
  11. https://www.omfif.org/analysis/commentary/2017/july/dont-be-afraid-of-bitcoin/
  12. https://www.cnb.cz/en/public/media-service/interviews-articles/Ausgerechnet-der-IWF-beschleunigte-die-Krise/
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