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Legal Framework of Monetary Stability in the Euro Area
Svobodová, Lenka ; Moravec, Tomáš (advisor) ; Patočka, Radim (referee)
"Legal Framework of Monetary Stability in the Euro Area" describes the effort of Economic and Monetary Union to maintain the monetary stability economically and legally. The first chapter is dedicated to the European union legal order and to developement of European Monetary Union. The second chapter apply of maintaining of monetary union, that means economic convergence, coordination of tax systems and monetary policy of European Central Bank. The last chapter analyses statistics of member states of European Union.
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European Central Bank´s monetary policy in terms of preferences of the member states
Sibalová, Zuzana ; Bič, Josef (advisor) ; Kačírková, Eliška (referee)
The thesis deals with the problem of the development of monetary policy pursued by the European Central Bank (ECB), which is facing criticism of many parties during tough times of European debt crisis. First, the work generally focuses on basic tasks, objectives and functions of the ECB and describes trend and strategy of ECB's monetary policy. In the following section, the attention is focused on the characteristics of the policies and approaches of selected member states. For the purposes of this thesis I chose the member states, France and Germany, to demonstrate a significant influence of the states on matters of monetary policy of the euro area. The final section is devoted to selected current problems, which points to a different approach and interests of the member states in the field of monetary policy. A particular problem appears to be a transfer of the rules, statutes and types of monetary policy from economically strong countries to economically weaker that are part of the union too, however, they fail to follow these policies, as well as subsequent, reverse transfer of economic problems from the periphery to the core of Economic and Monetary Union.
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Vliv měnové politiky na tržní sentiment v době krize
Winter, Lukáš ; Pavlík, Zdeněk (advisor) ; Cséfalvaiová, Kornélia (referee)
The aim of this work is to investigate the real impact of monetary policies on market sentiment. This work deals with the analysis of monetary policy of central banks of selected countries and focuses on the actions taken by central banks in the years 2008 to 2012, as a response to the global economic crisis. This work defines the global economic crisis as the financial and debt crisis, whose origin is associated with the collapse of U.S. bank Lehman Brothers in 2008 as a reaction to the collapse of the U.S. real estate market. In the theoretical part is defined monetary policy, monetary policy objectives and monetary instruments used. In the practical part of the thesis describes the monetary measures taken by the Czech National Bank and the European Central Bank, as well as a brief description of the two central banks. In the last part of the thesis is examined the impact of adopted measures on market sentiment.
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Analysis of the ECB's monetary policy after 2007
Uhlík, Libor ; Dočkal, Dalibor (advisor) ; Štěpánek, Pavel (referee)
The role of monetary policy in today's globalized world has increased in recent years, so it is very important to consider the institutions that constitute it. Feedback effects of these institutions is therefore essential necessity. My thesis has set this specific task, and critically analyzes the role of the European Central Bank in the creation of European monetary policy after year 2007. The thesis should answer the question if the ECB's monetary policy implemented in recent years is effective, what reasons led to the individual measures and it should also predict consequences and implications for the future.
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The European Central Bank and Monetary Policy of Eurozone
Slavíčková, Zuzana ; Jeníček, Vladimír (advisor) ; Němcová, Ingeborg (referee)
The thesis deals with the European Central Bank which is a central institution of the European Monetary Union; its establishment, structure, organs and its relationship to other European Union institutions. Core principles of monetary poli cy and instruments are described. The second part is dedicated to the analysis of monetary policy with focus on changes in the rate of main refinancing operations with respect to the economic development (inflation rate, GDP growth etc.). The time from 1999 is divided into several periods and particular attention is paid to the contemporary economic crisis and ECB's non-standard measures.
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The Change of Monetary Policy of the ECB during the Financial and Sovereign Debt Crisis
Zábražná, Adela ; Bič, Josef (advisor) ; Karpová, Eva (referee)
The thesis analyses the change of monetary policy of the European central bank during financial and sovereign debt crisis. Main focus of the thesis is given on the analysis of non-standard measures of monetary policy of the ECB. This thesis explains in detail how the ECB has responded to the various phases of the financial and debt crisis, starting with the period of financial turmoil, continuing with the intensification of the financial crisis and the sovereign debt crisis. Finally, the thesis compares these phases and assesses the impact of these non-standard measures.
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Central bank independence
Ďurík, Peter ; Baran, Jaroslav (advisor) ; Zetek, Pavel (referee)
Aim of my thesis "Central bank independence" is closer detail of central bank independence as one of the factors influencing macroeconomic stability from the long term. Before particular analysis of central bank degree of independence and macroeconomic values relationship, it is necessary to clarify development of central banking. At the end, there is approximated current position of central bank. The thesis is divided into five interconnected and logically follow-up chapters.
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Comparison of the activities of the Fed and the ECB
Khakimova, Nurgul ; Blahová, Naděžda (advisor) ; Marková, Jana (referee)
This bachelor thesis is devoted to the activities of the Federal Reserve System and European Central Bank. It is consistent with the historical development since the FED and ECB came into existence. The aim of the thesis is to compare these two central banks. The first chapter describes the history of the FED, its' organizational structure and the tasks that it is responsible for, as about second part, it deals with the historical development of the European central bank, its' structure and tasks and third chapter focuses directly on a comparison of activities of the FED and ECB, particularly of their monetary policies. This part compare FED and ECB in terms of independence, accountability and transparency. The last chapter tries to analyse the economic developments in the USA and euro area and the answer to the question what the role FED and ECB plays in managing the economy.
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Impacts of monetary policy of the ECB on the financial stability of individual eurozone countries
Bohatec, Martin ; Pfeifer, Lukáš (advisor) ; Štěpánek, Pavel (referee)
This work makes an effort to find main causes of recent crisis in the countries of Eurozone with regard to Austrian Business Cycle Theory. This work stands critical towards integrated monetary policy of the European Central Bank which through unitary interest rate for heterogenous economics facilitated excessive amount of loans for countries like Spain or Irleand, which according to Austrian theory led into economic recession. Chosen countries are subjected to closer analysis of economic indicators for entire period in the monetary union.
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Legal Framework of Monetary Stability in the Euro Area
Dendisová, Zuzana ; Moravec, Tomáš (advisor) ; Patočka, Radim (referee)
"Legal Framework of Monetary Stability in the Euro Area"analyses the European monetary cooperation since the Second World War from the economic and juridical point of view. The first chapter describes the evolution of the economic monetary integration and also caracterises legal aspects of the European System of Central Banks. The second chapter is dedicated to the European Central Bank. The third chapter explains advantages and disadvantages of the unified European monetary policy.
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