Příčiny, průběh a důsledky americké hypoteční krize

The theme of this thesis is the mortgage crisis in the United States which has started almost three years ago after the burst of a price bubble in the American residential real estate market. The first part of the work describes the rise and collapse of technology bubble, the securitization process, monetary policy of FED and the role of rating agencies. All of these reasons lead to the current crisis. The second part analyses causes of the crisis in the global view. It focuses on global imbalances and deals with macro aggregate. Special attention is paid to growth of montary aggregate, its strukcture and developing Asian economies after the currency crisis. The last part of the work touches on implications for regulation and supervision in the USA and Europe.