National Repository of Grey Literature 2 records found  Search took 0.01 seconds. 
Quantitative easing and its impact on the economy of the United States of America
Doležal, Ondřej ; Ježek, Tomáš (advisor) ; Jazic, Viktorija (referee)
This thesis focuses on the quantitative easing as a tool used by the U.S. central bank in an effor to enhance the expansionary monetary policy even during the reduction of major interest rate close to zero. The aim is to analyze the impact of the first and second round of quantitative easing on the economy of the Unites States of America practiced by Fed. The aim is achieved primarily by using event study, which examined the effect of the first and second round of quantitatitve easing on the yield of U.S. Treasuries. In the context of quantitative easing other economic data such as macroeconomic development of U.S. economy or the situation in the real estat and stock marekts are studied. The second major area of this thesis is the analysis of inflation. The sharp rise of inflation is considered as a one of the major risks associated with quantitative easing. Relationship between quantitative easing and inflation is mainly studied by analyzing the behavior of banks and other economic subjects and by using the results of quantitative easing policiy in the countries which also used that policy.
State aid to financial sector during financial crisis of 2008-2009 in USA and EU
Adamec, Michal ; Jílek, Josef (advisor) ; Jazic, Viktorija (referee)
Diploma thesis analyses state aid to financial sector provided by central banks and governments in USA and EU during recent financial crisis. In the deepest stage of the crisis central banks provided great amounts of liquidity in order to keep financial institutions afloat. Then, governments provided guarantees for debts which hepled financial institutions to finance themselves at lower costs. Capital injections and asset guarantees were also provided. In aggregate, the government measures had impact on reducing risk premiums but did not support stock prices. BoE and Fed implemented quantitative easing. Its only impact was decrease of yields of government bonds. All measures failed to restore robust growth of credit to real economy. There is a strong effect of the crisis and provided mesures on the increase of government debts.

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