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The causes of the current economic crisis and its impact on the world economy
Rýdl, Filip ; Jílek, Josef (advisor) ; Mládek, Josef (referee)
The work seeks to analyze the causes and impacts of the current financial crisis. It deals with the theoretical view and definition of financial crisis, along with a brief historical excursion. A significant part of the work is devoted to describe the financial crisis in the United States and in selected, economically important, countries. In the context of the causes of and solutions to the current crisis period are remembered views of different economic schools, which are very different. A significant part is devoted to the description of institutional architecture and function of the financial system. Important part is the description of the functioning of lending money (such interest and regulatory policy), because the author sees in it a long series of "unhealthy" factors, which helped the emergence of a financial crisis. The aim of this work is to give a komplete, non-ideological coloring, look at the biggest financial crisis in modern history.
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US Monetary policy in new millenium: analysis and influences on domestic and global economy
Vaško, Dan ; Neumann, Pavel (advisor) ; Žamberský, Pavel (referee)
This Diploma thesis analyses monetary policy management in USA during the passed decade and proposes some changes regarding the future decision making of central banks. In particular, a considerable deviation of the actual monetary policy from the Taylor rule right before the housing bubble was proved by an econometric model. As a consequence, too low interest rates in this period caused significant higher magnitude of real estate prices. However, it can be said that monetary policy was not the main cause of the creation of this bubble. Regarding the FED's reaction on financial crisis, new perspectives are provided. According to this study, credit risk is thought to have been the main cause of financial stress. This is in contradiction with FED's measures that were mainly focused on lack of liquidity in financial markets. Last but not least, this thesis argues that nowadays, international development should be more reflected in monetary policy decision making.
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American mortgage crisis II
Zikmunda, Petr ; Koderová, Jitka (advisor) ; Plíva, Rostislav (referee)
This graduation thesis focuses on analyzing the impact(s) of the recent American mortgage crisis. The main goal is to study measures that have been taken to overcome this crisis andv evaluate them. The thesis is divided into four parts. The aim of the first part is to quantify the size of the United States housing bubble. The second part brings in the estimates of losses to individual financial institutions in the USA. The third part concentrates on detailed analysis of the arrangements that have been used to overcome mortgage crisis and consequential financial crisis. The last part compares the measures taken in order to solve the recent crisis with the ones that had been taken to overcome the Great Depression.
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Financial crisis of 2008-2010 - the causes, consequences and measures taken in the EU and U. S.
Macečková, Sylvie ; Jílek, Josef (advisor) ; Mládek, Josef (referee)
This thesis analyzes the causes and impacts of recent financial crisis, which originated in the U. S. in 2007. It deals with the theoretical view and the specification of the financial crisis. A significant part is devoted to analyzing the root causes of the emergence of the recent financial crises. Here we find important implications in the functioning and structure of the financial system, in which we see many long-term unhealthy factors which largely contributed to the crisis. The paper also deals with analysis of the financial crisis on the real economy. It analyzes the impact of the crisis on the main macroeconomic indicators in the U. S. and Europe. Here we find an analysis of the measures taken in the U. S. and the EU in order to stabilize the financial sector. Find negative effects of state aid to public debt and government budget deficits.
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United States-economic development after 2000
Murár, David ; Adámková, Vlasta (advisor) ; Antal, Jarolím (referee)
The goal of this thesis is to analyse economic development of the USA from the begining of the 21st century until now. The United states went through a slump caused by a technological bubble. I put emphasis on the Fed's reactions, manipulation with interest rates and increase of monetary base. There are also mentioned sources of the real estate bubble and the whole progress of it. The last part analyses the current situation and tries to forecast some future events.
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Austrian business cycle theory and its application to the Great Depression
Svatek, Jakub ; Dočkal, Dalibor (advisor) ; Loužek, Marek (referee)
This thesis deals with the Austrian business cycle theory. At the beginning it introduce methodology of the Austrian School. It also describes the Austrian structures of the capital and production based on time preference, which are necessary to understand this whole theory. One of goals is to show the possible causes of the business cycle, which the Austrian economists see in the monetary expansion. This causes a reduction in interest rates, disorientation of investors and the spread of investment demand. Furthermore, the task is to verify the viability of this theory in practice, applications to the Great Depression in the U.S.. Here this thesis analyzes the anti-crisis measures of the government of presidents Hoover and Roosevelt. Results are compared with the assumptions of Austrian theory and based on this comparison it draws conclusions.
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Establishment of central bank in USA
Hendrych, Filip ; Tajovský, Ladislav (advisor) ; Szobi, Pavel (referee)
In December 1913 president of the United States W. Wilson signed Federal Reserve Act which declared American central bank and changed American banking system once and for all. Since that there is a permanent inflation in the United States which destroys value of dollar and influences life of people all over the world every single day. There was a long period of preparations before the act was signed. Many false reasons was submited to public to prove necessity of central bank and to hide the real reasons. There are many myths about establishment of the Federal Reserve System which I would like to clarify. There is many different opinion courses in economics. My bachelor thesis focused on this subject from Austrian point of view. Its primary focus is on the circumstances under which FED was established and on powerful people in the background whose influence was crucial during the time of foundation of this institution.
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Effectiveness analysis of actions taken by the American government and the FED during the financial crisis
Nemček, Sebastian ; Havlíček, David (advisor)
The financial crisis of 2007 -- 2009, which is considered to be the worst crisis since The Great Depression, has called for many bailout and stimulus programs in various countries to preserve stability of the financial and economic system. The American federal governments in cooperation with The Federal Reserve have carried out a vast amount of rescue programs and actions. The aim of this bachelor thesis is analyse selected steps that have been taken and examine their practical impacts and effectiveness. This will be done with a help of corresponding statistics and data and their evolution in time. With respect to a large amount and complexity of programs it is necessary to introduce focus, costs and benefits of these programs and with a contribution of own analyses and calculations explore the impact on real world data. Stabilization programs i.e. TARP have proven to be more effective in general than stimulative ones as ARRA or QE2. ESA and CARS were half-effective while HOPE being a complete failure.
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Who Predicted Financial Crisis 2007-2009
Vyskočilová, Tereza ; Vostrovská, Zdenka (advisor) ; Chalupníček, Pavel (referee)
This bachelor thesis is focused on the U.S. mortgage crisis and subsequent financial crisis 2007-2009. The aim of this paper is to analyze and explain causes of this crisis and find out why they were not recognized in season. Or why only a few experts have warned of the crisis, while most categorically rejected the threat of it. The theoretical part deals with the definition of the financial crisis, the typology and prediction methods. The practical part will analyze the causes and consequences of the crisis and explains how the mortgage crisis turned into the financial sector and the real economy. The practical part is devoted to the question why only a few experts were able to predict the financial crisis.
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