Monetary policy in Japan is in a luquidity trap under convential monetary policy. Main source of deflation and stagnation of japanese economy is endogenous credit crunch. BoJ is not able to influence price level and economy by zero interest rate policy. Main cause of credit crunch is demand for credit because of high leverage of all sectors in economy. Credit crunch support financial problems on the supply side of the credit. Diploma thesis propose to use expansion fiscal policy as a convenient tool for resolution of japanese deflation and great stagnation. Expansion fiscal policy is effecient to overcome credit crunch and support economy and demand inflation throught restructuralization of balance sheets. Work considering current world debt crisis argue that expansion fiscal policy is the best solution to overcome debt crise.
| Identifer | oai:union.ndltd.org:nusl.cz/oai:invenio.nusl.cz:81914 |
| Date | January 2011 |
| Creators | Titze, Miroslav |
| Contributors | Janáček, Kamil, Pfeifer, Lukáš |
| Publisher | Vysoká škola ekonomická v Praze |
| Source Sets | Czech ETDs |
| Language | Slovak |
| Detected Language | English |
| Type | info:eu-repo/semantics/masterThesis |
| Rights | info:eu-repo/semantics/restrictedAccess |
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