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Optimální mix monetární a fiskální politiky v situaci nulových úrokových měr / Optimal Monetary and Fiscal Policy at Zero Lower Bound

This thesis concerns the interaction of monetary and fiscal policy. Using New Keynesian model, we show the impact of fiscal expansion under different specifications of monetary policy rules. The analysis of the transmission of fiscal expansion focuses on the situation in which central bank's nominal interest rate reaches zero lower bound. We verify the economic model using vector autoregression based on data of the United States. The results of the theoretical and empirical research suggest that the influence of government spending on the product is greater at the zero lower bound.

Identiferoai:union.ndltd.org:nusl.cz/oai:invenio.nusl.cz:205872
Date January 2016
CreatorsŠestořád, Tomáš
ContributorsPotužák, Pavel, Kadeřábková, Božena
PublisherVysoká škola ekonomická v Praze
Source SetsCzech ETDs
LanguageCzech
Detected LanguageEnglish
Typeinfo:eu-repo/semantics/masterThesis
Rightsinfo:eu-repo/semantics/restrictedAccess

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