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ECB's Quantitative Easing - What Effects, Through Which Channels?
Husek, Daniel
;
Holub, Tomáš
(advisor) ;
Lešanovská, Jitka
(referee)
The paper analyzes the wide-economy impacts of the European Central Bank Expanded Asset Purchase Programme (ECB EAPP). The paper investigates the effects of the balance sheet change as well as the latent nature of unconventional policy tools and analyzes the effects by two distinct models, the Structural Vector Autoregressive (S-VAR) and Factor-Augmented VAR (FA-VAR). The paper further discusses the transmission channels of the monetary policy. The paper finds that the effect on the economy is materialized. The paper shows that the major channel of ECB unconventional policies on the real economy is driven by the response of nominal exchange rate and decline of interest rates.
Detailed record
ECB's Quantitative Easing - What Effects, Through Which Channels?
Husek, Daniel
;
Holub, Tomáš
(advisor) ;
Lešanovská, Jitka
(referee)
The paper analyzes the wide-economy impacts of the European Central Bank Expanded Asset Purchase Programme (ECB EAPP). The paper investigates the effects of the balance sheet change as well as the latent nature of unconventional policy tools and analyzes the effects by two distinct models, the Structural Vector Autoregressive (S-VAR) and Factor-Augmented VAR (FA-VAR). The paper further discusses the transmission channels of the monetary policy. The paper finds that the effect on the economy is materialized. The paper shows that the major channel of ECB unconventional policies on the real economy is driven by the response of nominal exchange rate and decline of interest rates.
Detailed record
Currency separation of Czechoslovakia in 1993 - any lessons for the Euro area?
Husek, Daniel
;
Holub, Tomáš
(advisor) ;
Břízová, Pavla
(referee)
This thesis analyses important aspects of the Czechoslovak currency separation, its incentives, technical and organizational solutions and the total expense of the operation. The main contribution of this work is (i) comparing the situation in the Czech and Slovak Federative Republic before the currency separation in 1993 with the situation in Euro area countries after 2008 and describing its similarities, (ii) analytical view of a possible application of the solutions used within the separation of the Czechoslovak currency in the context of the Euro area states, and (iii) discussion about possible gains from leaving the European Monetary Union.
Detailed record
See also: similar author names
1
HUŠEK, David
24
Húsek, Dušan
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