Monetární politika pohledem moderní monetární ekonomie

The bachelor thesis analyzes and evaluates the basic theses of Modern Monetary Theory. This represents an unorthodox school of economic thought, which calls for a paradigm shift in economic science. This is because inflation targeting policies and traditional monetary policy instruments are failing. Therefore, monetary authorities apply unconventional instruments, which, however, in certain respects show the same features as the ideas of the discussed school. The thesis includes an analysis of the contemporary monetary policy and the economic development of the USA and Japan. Based on this analysis, it is hypothesized that selected premises of Modern Monetary Theory could represent a way out of current or future economic problems of countries and could be incorporated into the practical framework of economic policy. On the other hand, the work denies that this unorthodox stream of thought could cause a change in the economic paradigm. The justification is mainly the existence of controversial moments and negative consequences resulting from the practical application of the stream of thought.