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Analysis of the Factors of Collapse of the Bretton Woods Monetary System
Havlíček, Jiří ; Johnson, Zdenka (advisor) ; Chalupecký, Petr (referee)
This bachelor thesis focuses on the Bretton Woods monetary system which was the important factor influencing the international economic situation since the end of World War II until the beginning of the 1970s. Specifically, the thesis focuses on the analysis of factors which led to the collapse of the Bretton Woods monetary system and tries to answer the question if the main reason of the collapse was irresponsible fiscal policy of the USA. In the first part, there is a description of creation, final version of the Bretton Woods agreement, and key institutions of the system. Main part of thesis is divided into the three subchapters. Each one adresses one of the three major problems of the Bretton Woods monetary system, which were adjustment problem, liquidity problem, and confidence problem. There is an analysis of causes and consequences of each issue. Conclusion of the thesis is the statement that fiscal policy of the USA was not either underlying, or original cause of the collapse of the system, however the fiscal policy of the USA worsened the situation and greatly accelerated the collapse of the system. But it is not possible to identify the key problem, the issues were too much interrelated to determine the most critical.
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The role of the United States dollar as world’s reserve currency since the Bretton Woods monetary system to the present
Schödel, Michael ; Šimíček, Petr (advisor) ; Štekláč, Jiří (referee)
The aim of this bachelor thesis is to analyze the role of the United States dollar since The Bretton Woods monetary system to the present. During the Bretton Woods monetary system US dollar gained the dominant position. It was taken from British pound and is maintained till now. Neither crash of this system in the seventies of the 20th century nor establishment of the common European currency -- Euro, did not end the privileged position of US dollar. In my thesis I deal with advantages and disadvantages of this privileged position for USA and for other countries. Further I analyze the position of the US dollar and USA within The International Monetary Fund and I also compare selected indicators of relevant global currencies. Then I focus on the present biggest currency competitor of the US dollar -- the Euro, and the currency with the greatest potential for the future -- the Chinese yuan.
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The Status of USD as the World's Reserve Currency and the Main Currency in International Trade Relations
Miller, David ; Mandel, Martin (advisor) ; Kuncl, Martin (referee)
This thesis aims to identify, define and analyze the role of the United States dollar as the most important currency of the present day, its influence on international monetary policy, the composition of foreign currency reserves in central banks and trading on the global foreign exchange market. Subsequently, the historical development since the introduction of Bretton-Woods system is presented, along with the phenomenon of Eurodollar market, which shaped the status of the United States dollar in the world. Last but not least, the US balance of payments is analyzed and the functioning of the dollar hegemony described, followed by naming of the essential requirements for a currency to become the most important global reserve currency and the main currency in the international trade.
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Development of the common European currency and its comparison with US dollar
Jeníčková, Radka ; Neumann, Pavel (advisor) ; Nováková, Jana (referee)
The thesis is based on the historical background of realisation of Economic and Monetary Union (EMU) in Europe which has led to the introduction of a single currency: the euro. Subsequent comparison of the euro-dollar deals with their particular roles in selected segments of the global economy and tries to put these facts into context. The aim of this thesis is to provide an overview of the current tendency and predict possible future development of the position of the world currency.
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