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Credit crunch v modelu nerovnováhy na peněžním trhu v České republice
Režňáková, Lucie
This diploma thesis deals with the credit crunch in the model of disequilibrium in the credit market. The basis of the empirical analysis is the application of methods of maximum likelihood on the modified time series. Using this method will be by estimated each function of supply and demand, on the basis of which will be determined by the individual disequilibrium. The results from the overall analysis will help us make recommendations for policy-makers
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From credit growth to credit crunch: Analysis of responses to credit development in CEE region
Jašová, Martina ; Geršl, Adam (advisor) ; Havránek, Tomáš (referee)
This thesis analyzes policy measures taken to curb the private sector credit growth in the period 2003-08. The thesis evaluates the excessiveness of the credit development in the CEE with respect to macroeconomic fundamentals. Based on the results, menu of policy options to counter adverse effects of the credit boom is reviewed. The analysis is based on a survey performed on eleven central banks in the region. The findings reveal high intensity of policy intervention: altogether 82 measures were taken in CEE in the period. Deriving from the country experiences, the thesis argues that in order to eliminate adverse impacts, policy measures should include combination of monetary and prudential tools with special emphasis on domestic environment and role of foreign banks in the CEE region.
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Credit crunch v modelu nerovnováhy na peněžním trhu v České republice
Režňáková, Lucie
This diploma thesis deals with the credit crunch in the model of disequilibrium in the credit market. The basis of the empirical analysis is the application of methods of maximum likelihood on the modified time series. Using this method will be by estimated each function of supply and demand, on the basis of which will be determined by the individual disequilibrium. The results from the overall analysis will help us make recommendations for policy-makers
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Pokles dynamiky úvěrů v ČR po finanční krizi - problém poptávky či nabídky peněz?
Koliba, Tomáš
Koliba, T. Pokles dynamiky úvěrů v ČR po finanční krizi - Problém nabídky nebo poptávky peněz? Diploma thesis. Brno: Mendel University, 2013. This diploma thesis focuses on the issue of credit crunch. It examines whether this phenomenon has striked the Czech credit market during the recession in 2008/2009. The empirical part of this work concentrates on time series analysis. Particularly, a linear regression model is created, that describes the determinants of credit supply and credit demand. Then, using Granger noncausality (exogenity), the work describes relationship between economic activity and credit volume. The outcome of this thesis is to recommend to the management of commercial banks, how to deal with decrease of credit volume in terms of a recession.
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Causes and impact of deflation in Japan
Burdová, Ivana ; Stuchlíková, Zuzana (advisor) ; Machytka, Daniel (referee)
Bankruptcy of speculative asset bubble at the very beginning of the nineties created deflationary environment in Japan. Deflation fully revealed itself in second half of the nineties along with structural problems. At the same time appeared a problem of credit crunch and liquidity trap appeared. Although Japanese central bank and government tried to fight deflation, they didn't succeed in definitely overcoming the deflation. Nevertheless the zero interest rate policy and the quantitative easing policy had positive impact. They prevented Japan from slipping in deflationary spiral, on which edge Japan stood several times. Presently there is a speculation about positive prospect for overcoming deflation once and for all. With new aggressive policy of central bank and current prime minister, the atmosphere on whole Japanese market has already improved. However, the uncertainty persist because of planned increase of consumption tax, which could bring problems in an extreme case.
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Monetary policy in liquidity trap in Japan
Titze, Miroslav ; Janáček, Kamil (advisor) ; Pfeifer, Lukáš (referee)
Monetary policy in Japan is in a luquidity trap under convential monetary policy. Main source of deflation and stagnation of japanese economy is endogenous credit crunch. BoJ is not able to influence price level and economy by zero interest rate policy. Main cause of credit crunch is demand for credit because of high leverage of all sectors in economy. Credit crunch support financial problems on the supply side of the credit. Diploma thesis propose to use expansion fiscal policy as a convenient tool for resolution of japanese deflation and great stagnation. Expansion fiscal policy is effecient to overcome credit crunch and support economy and demand inflation throught restructuralization of balance sheets. Work considering current world debt crisis argue that expansion fiscal policy is the best solution to overcome debt crise.
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Real estate market in the Czech Republic and Great Britain
KABLÁSKOVÁ, Jitka
This diploma work is about real estate market in the Czech Republic and Great Britain. For comparison of these two markets and understanding how the current economic crisis has influenced them, I tried to compare the following indicators: house prices, inflation, average earnings, balance of trade, interest rates, homeownership and mortgage approvals. Housing bubbles in the USA have deliberately created the damage inflicted by companies shifting production abroad in an attempt to boost profits. As these bubbles burst, economic growth in many developed countries will inevitably tumble. Interviews with real estate and development Company in the Czech Republic and Great Britain helped me find out trends affecting property investment and its potentials. The marked factors which, I believe, will affect property investment prices now and in the future, are socio-economic trends, demographics, infrastructure, jobs and regeneration of the area. The property market has been changed from the market of supplier to the market of demander. Real estate and development Companies have to change their way of selling and offer complex and professional services. It is expected the real estate market will recovery slowly.
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The Recent Financial Crisis - Causes and Consequences
Šafaříková, Petra ; Jiránková, Martina (advisor) ; Vitík, Matyáš (referee)
This bachelor paper called "The Recent Financial Crisis - Causes and Consequences" defines the concept of a financial crisis, types of a crisis and its examples in the first, theoretical, part. The second section is devoted to the description of this crisis' origins, the development in the United States and the situation in the US mortgage market. Additionally, specific tools of the mortgage market are depicted as well as the function of rating agencies and the regulation of the US financial market. The third part concerns itself with the proliferation of the crisis from the financial market into the real economy and also its diffusion across the whole world. Finally, the crisis' consequences in the EU member countries and the United States of America are compared.
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Impact of the american mortgage crisis on the economy of Iceland
Radilová, Eva ; Antoš, Ondřej (advisor) ; Jílek, Josef (referee)
This paper concentrates on the beginning of the mortgage crisis on the United States mortgage market. It deals with its global and local impacts and explains its origin against the economic background. After that it fluently continues with describing the origins of the Icelandic crisis. It is mentioned in this part that despite the economic boom the origins of the crisis had arisen at that time. After the burst the progression of the crisis including its impacts on macroeconomic indicators is described in this document. In conclusion the Icelandic crisis is being explained on the economic theory basis, compared to the American crisis and the question if Iceland was really a victim of the subprime mortgage crisis is answered there.
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