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Role sentimentu podniků v transmisi měnové politiky: zjištění pro eurozónu
dc.contributor.advisorHolub, Tomáš
dc.creatorLiu, Zhaozhi
dc.date.accessioned2021-07-07T10:08:21Z
dc.date.available2021-07-07T10:08:21Z
dc.date.issued2021
dc.identifier.urihttp://hdl.handle.net/20.500.11956/126895
dc.description.abstractTraditional macroeconomics believes that confidence is not the main cause of economic fluctuations, but when faced with financial crises, monetary authorities still emphasize the role of stabilizing confidence. Although people generally agree that confidence is an important part of the transmission of macro-policies to micro- individuals, there is neither empirical evidence support nor corresponding mechanism research. This thesis attempts to answer the following questions: Does business confidence affect the effectiveness of monetary policy? Does business confidence have the same impact on monetary policy in different economic periods? This thesis first constructed a structural vector auto-regression (SVAR) model to test the role of business confidence in the transmission of monetary policy in the euro area. The empirical results show that expansionary monetary policy can effectively boost business confidence while stimulating output growth. In addition, this thesis extends the model by introducing share prices and exchange rates to investigate the role of these two important to the monetary transmission mechanism, concluding that business confidence plays a strong role in interest rate transmission and a weaker role in the transmission of asset prices and exchange rates. Subsequently, in order to...en_US
dc.languageEnglishcs_CZ
dc.language.isoen_US
dc.publisherUniverzita Karlova, Fakulta sociálních vědcs_CZ
dc.subjectBusiness confidencecs_CZ
dc.subjectmonetary transmissioncs_CZ
dc.subjectSVAR modelcs_CZ
dc.subjectTVP-VAR modelcs_CZ
dc.subjectBusiness confidenceen_US
dc.subjectmonetary transmissionen_US
dc.subjectSVAR modelen_US
dc.subjectTVP-VAR modelen_US
dc.titleThe Role of Business Confidence in the Monetary Policy Transmission Mechanism: Evidence from the Euro Areaen_US
dc.typediplomová prácecs_CZ
dcterms.created2021
dcterms.dateAccepted2021-06-16
dc.description.departmentInstitute of Economic Studiesen_US
dc.description.departmentInstitut ekonomických studiícs_CZ
dc.description.facultyFakulta sociálních vědcs_CZ
dc.description.facultyFaculty of Social Sciencesen_US
dc.identifier.repId226193
dc.title.translatedRole sentimentu podniků v transmisi měnové politiky: zjištění pro eurozónucs_CZ
dc.contributor.refereeKomárek, Luboš
thesis.degree.nameMgr.
thesis.degree.levelnavazující magisterskécs_CZ
thesis.degree.disciplineEconomics and Financeen_US
thesis.degree.disciplineEkonomie a financecs_CZ
thesis.degree.programEkonomické teoriecs_CZ
thesis.degree.programEconomicsen_US
uk.thesis.typediplomová prácecs_CZ
uk.taxonomy.organization-csFakulta sociálních věd::Institut ekonomických studiícs_CZ
uk.taxonomy.organization-enFaculty of Social Sciences::Institute of Economic Studiesen_US
uk.faculty-name.csFakulta sociálních vědcs_CZ
uk.faculty-name.enFaculty of Social Sciencesen_US
uk.faculty-abbr.csFSVcs_CZ
uk.degree-discipline.csEkonomie a financecs_CZ
uk.degree-discipline.enEconomics and Financeen_US
uk.degree-program.csEkonomické teoriecs_CZ
uk.degree-program.enEconomicsen_US
thesis.grade.csNeprospěl/acs_CZ
thesis.grade.enFailen_US
uk.abstract.enTraditional macroeconomics believes that confidence is not the main cause of economic fluctuations, but when faced with financial crises, monetary authorities still emphasize the role of stabilizing confidence. Although people generally agree that confidence is an important part of the transmission of macro-policies to micro- individuals, there is neither empirical evidence support nor corresponding mechanism research. This thesis attempts to answer the following questions: Does business confidence affect the effectiveness of monetary policy? Does business confidence have the same impact on monetary policy in different economic periods? This thesis first constructed a structural vector auto-regression (SVAR) model to test the role of business confidence in the transmission of monetary policy in the euro area. The empirical results show that expansionary monetary policy can effectively boost business confidence while stimulating output growth. In addition, this thesis extends the model by introducing share prices and exchange rates to investigate the role of these two important to the monetary transmission mechanism, concluding that business confidence plays a strong role in interest rate transmission and a weaker role in the transmission of asset prices and exchange rates. Subsequently, in order to...en_US
uk.file-availabilityV
uk.grantorUniverzita Karlova, Fakulta sociálních věd, Institut ekonomických studiícs_CZ
thesis.grade.codeF
uk.publication-placePrahacs_CZ
uk.thesis.defenceStatusN


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