The thesis analyses problems of eurozone after the beginning of financial crisis in 2008, which continuously changed into economic and debt crisis. The thesis considers eurozone in aggregate and closer focuses on so called GIIPS (Greece, Ireland, Italy, Portugal, Spain) countries. Recent eurozone economic situation is compared to Japanese "lost decade" during 1990s, I seek for parallels and differences. Theoretical part shows approaches by economic schools to causes of cycle and to role of policymakers. Main challenges of fiscal and monetary policy are considered, specifically fiscal policy in time of high public indebtedness, monetary policy in liquidity trap etc. Applicative part considers causes of the economic situation at the beginning, more specifically devoted to balance sheets recession. Key part of the practical part it is analysis of applied fiscal and monetary policy, including helping efforts to financial system. Concluding remarks summarizes key understanding from the thesis, proposals are included and it is considered whether eurozone is going to follow Japanese path since 90's or not. It seems highly probable that eurozone is going to follow Japanese in terms of sluggish economic growth, parallels can be seen in weak impact of monetary policy in liquidity trap, but recommendations to fiscal policy from Japanese experience should be taken into account in very cautious way because of both specifics of eurozone and Japanese economy.
| Identifer | oai:union.ndltd.org:nusl.cz/oai:invenio.nusl.cz:193206 |
| Date | January 2014 |
| Creators | Draisaitl, Michael |
| Contributors | Loužek, Marek, Titze, Miroslav |
| Publisher | Vysoká škola ekonomická v Praze |
| Source Sets | Czech ETDs |
| Language | Czech |
| Detected Language | English |
| Type | info:eu-repo/semantics/masterThesis |
| Rights | info:eu-repo/semantics/restrictedAccess |
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