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Vztah nezávislosti a odpovědnosti centrálních bank na příkladu kvantitativního uvolňování ECB a FEDu v letech 2005-2016 / Relation between central bank independence and accountability at the example of quantitative easing of the ECB and the Fed in 2005 - 2016

The thesis deals with relation between central bank independence and accountability. The relation is examined on example of quantitative easing implemented in the period 2005 - 2016 by the European central bank and the Federal Reserve System. From the theoretical and practical point of view the thesis proves that the relation between central bank independence and accountability are influenced by the specification of targets of monetary policy to a great extent. The thesis also proves that the specific definition of both central bank independence and accountability influenced the characteristics of quantitative resp. credit easing. Moreover, such monetary policy can potentially endanger the independence of both central banks in many ways. Thus, the implementation of quantitative easing itself and its potential consequences evidences that the contemporary conception of central bank independence and accountability is insufficient and needs to be reviewed.

Identiferoai:union.ndltd.org:nusl.cz/oai:invenio.nusl.cz:358886
Date January 2017
CreatorsPýchová, Jitka
ContributorsŠevčík, Miroslav, Řežábek, Pavel
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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