This thesis focuses on the quantitative easing as a tool used by the U.S. central bank in an effor to enhance the expansionary monetary policy even during the reduction of major interest rate close to zero. The aim is to analyze the impact of the first and second round of quantitative easing on the economy of the Unites States of America practiced by Fed. The aim is achieved primarily by using event study, which examined the effect of the first and second round of quantitatitve easing on the yield of U.S. Treasuries. In the context of quantitative easing other economic data such as macroeconomic development of U.S. economy or the situation in the real estat and stock marekts are studied. The second major area of this thesis is the analysis of inflation. The sharp rise of inflation is considered as a one of the major risks associated with quantitative easing. Relationship between quantitative easing and inflation is mainly studied by analyzing the behavior of banks and other economic subjects and by using the results of quantitative easing policiy in the countries which also used that policy.
| Identifer | oai:union.ndltd.org:nusl.cz/oai:invenio.nusl.cz:125201 |
| Date | January 2011 |
| Creators | Doležal, Ondřej |
| Contributors | Ježek, Tomáš, Jazic, Viktorija |
| 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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