Predikce dopadů politiky kvantitativního uvolňování v eurozóně na základě komparace s podmínkami a dopady uvolněné měnové politiky v USA v letech 2008 až 2014

The bachelor thesis focuses on quantitative easing policy. There is a theoretical explanation of the transmission mechanism of this non-standard monetary policy tool, including transmission channels through which operates on the economy. There are also discussed attitudes of selected schools of economics towards this tool and monetary policy in general. Next part of thesis analyzes conditions and implementation of quantitative easing in the USA and the euro area. The main goal of this thesis is prediction of impacts of quantitative easing in the euro area on the basis of comparison with conditions and implementation of this policy in the USA. Results of the thesis shows that this policy should have weaker positive effects on the euro area economy than on the US economy and is therefore less appropriate instrument for current conditions in the euro area. The main reason is different distance between the crisis and initiation of quantitative easing in the USA and in the euro area, the economy and financial markets are now in better condition than right after the bankruptcy of Lehman Brothers. Furthermore, the capital market in the euro area is not as important as in the USA.