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| Měnová politika ECB: Problém jednotné úrokové míry a její vliv na úvěrování v eurozóně ECB Monetary Policy: "One Size Doesn't Fit All" Problem and Its Impact on Credits Volume | |
| Nedvěd;Petr | |
| 出版年 | 2014 |
| 英文摘要 | In this work, I analyse inappropriateness of single monetary policy in the euro area and its impact on credit growth for the oldest twelve euro members and a time period spanning 1999Q1-2013Q3. The inappropriateness is expressed by deviations of actual interest rate from Taylor rule prescriptions. The obtained results are in line with a majority of existing literature since they show that the ECB's single interest rate was the least suitable for the so called PIIGS countries prior to the recent economic crisis. The impact of the deviations on credit growth is estimated econometrically by dynamic panel data estimation. The findings confirm my hypothesis that the deviations from the Taylor rule have a significant positive effect on credits volume, i.e. the higher is the Taylor rule prescription above the actual rate, the higher is the credit growth. |
| 语种 | 英语 |
| URL | http://www.nusl.cz/ntk/nusl-340752 |
| 资源类型 | 学位论文 |
| 条目标识符 | http://119.78.100.177/qdio/handle/2XILL650/248544 |
| 推荐引用方式 GB/T 7714 | Nedvěd;Petr. Měnová politika ECB: Problém jednotné úrokové míry a její vliv na úvěrování v eurozóně ECB Monetary Policy: "One Size Doesn't Fit All" Problem and Its Impact on Credits Volume[D],2014. |
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