National Repository of Grey Literature 3 records found  Search took 0.00 seconds. 
The effects of quantitative easing on the USA, Japan, Eurozone and Great Britain
Novoselova, Ksenia ; Brůna, Karel (advisor) ; Jakl, Jakub (referee)
This master thesis aims to describe problematics of the effects of unconventional monetary policy, also known as quantitative easing, on economics of USA, Japan, Eurozone and Great Britain, by using empirical analysis of events related to quantitative easing and large BVAR model. In theoretical part of the thesis there are described transmission mechanisms of conventional monetary policy still effective in conditions of interest rates close to zero, as well as channels of unconventional monetary policy. Practical part of the thesis demonstrates analysis of impact of events related to quantitative easing in all the in-scope economics by applying a method of empirical observation of interest rates reactions on every event. Further, based on the received results of the empirical analysis, broader economic effects of quantitative easing are examined by using large BVAR model and afterwards the conclusion is made.
The Options of Use Monetary Policy in Terms of Small Open Economy and zero lower bound (CNB and SNB example)
Suchánek, Marek ; Vejmělek, Jan (advisor) ; Šíma, Ondřej (referee)
The main purpose of this thesis is to analyse the impacts of unconventional monetary policy instruments on small open economies in zero lower-bound situations. Although all unconventional instruments are discussed, an emphasis is placed on currency intervention. Impacts of the various instruments are demonstrated using the economies of Czech Republic and Switzerland as case studies. The thesis will conclude with a comparison of the case studies.
Monetary policy of CNB in zero lower bound
Bohatec, Martin ; Ševčíková, Michaela (advisor) ; Pfeifer, Lukáš (referee)
This thesis deals with CNB interventions in favor of the exchange rate depreciation of November 2013. The theoretical part presents alternative tools for unconventional monetary policy when zero lower bound is binding. This thesis then describes the experience of other central banks that responded to low interest rates. Intervention of CNB is contextualized in the Czech financial system and previous economic development. The thesis analyses alternative instruments which CNB might have accessed. Based on the analyzed data this thesis concludes that despite the long-term maintenance of weakened Koruna above the level of announced exchange rate pledge the sufficiently loose monetary policy was not translated into desired price increase.

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