Bakalářská práce / info:eu-repo/semantics/bachelorThesis
Osoba oponující práci:
The bachelor thesis is focused on unconventional monetary policy resulting from zero interest rate policy of central banks. In the theoretical part several unconventional approaches performed by central banks are described and quantitative easing and its transmission channels are emphasized. The following practical part describes the development of the quantitative easing in the USA. The analysis of the impact of quantitative easing on the long-term interest rate especially via portfolio-rebalancing and signaling channel is conducted. Additionally, the correlation of bank excess reserves with the index S&P 500 is investigated as well as the impact of quantitative easing on prices of commodities and the gross domestic product.
USA; zero lower bound; unconventional monetary policy; FED; quantitative easing