| |
| |
| |
| |
| |
|
Lessons for ECB from the Fed policy with respect to quantitative easing after 2008
Pagáč, Peter ; Babin, Jan (advisor) ; Čermáková, Klára (referee)
This paper is focused on understanding of quantitative easing which was used by Federal Reserve System in order to decrease long-term interest rates. The analysis is mainly focused on connection between an increase in an inflation and an output and the quantitative easing. Analysis is also focused on the so-called "portfolio balance channel" as one of the main potential channels of quantitative easing influence. The paper has validated positive influence on output of U.S. economy. Moreover the paper shows potential effects of this policy in the Eurozone, which is the main goal of this thesis in consideration of its actual applying by the European Central Bank.
|