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master's thesis
Izazovi nekonvencionalne monetarne politike Sustava federalnih rezervi
Zagreb: University of Zagreb, Faculty of Economics and Business, 2022. urn:nbn:hr:148:390270
Ostojić, Rafael Paul
University of Zagreb
Faculty of Economics and Business
Department of Finance

Institutional repository: REPEFZG

Cite this document

Ostojić, R. P. (2022). Izazovi nekonvencionalne monetarne politike Sustava federalnih rezervi (Master's thesis). Zagreb: University of Zagreb, Faculty of Economics and Business. Retrieved from https://urn.nsk.hr/urn:nbn:hr:148:390270

Ostojić, Rafael Paul. "Izazovi nekonvencionalne monetarne politike Sustava federalnih rezervi." Master's thesis, University of Zagreb, Faculty of Economics and Business, 2022. https://urn.nsk.hr/urn:nbn:hr:148:390270

Ostojić, Rafael Paul. "Izazovi nekonvencionalne monetarne politike Sustava federalnih rezervi." Master's thesis, University of Zagreb, Faculty of Economics and Business, 2022. https://urn.nsk.hr/urn:nbn:hr:148:390270

Ostojić, R. P. (2022). 'Izazovi nekonvencionalne monetarne politike Sustava federalnih rezervi', Master's thesis, University of Zagreb, Faculty of Economics and Business, accessed 02 December 2024, https://urn.nsk.hr/urn:nbn:hr:148:390270

Ostojić RP. Izazovi nekonvencionalne monetarne politike Sustava federalnih rezervi [Master's thesis]. Zagreb: University of Zagreb, Faculty of Economics and Business; 2022 [cited 2024 December 02] Available at: https://urn.nsk.hr/urn:nbn:hr:148:390270

R. P. Ostojić, "Izazovi nekonvencionalne monetarne politike Sustava federalnih rezervi", Master's thesis, University of Zagreb, Faculty of Economics and Business, Zagreb, 2022. Available at: https://urn.nsk.hr/urn:nbn:hr:148:390270

Metadata
TitleIzazovi nekonvencionalne monetarne politike Sustava federalnih rezervi
Title (english)The challenges of the Federal Reserve's unconventional monetary policy
AuthorRafael Paul Ostojić
MentorMarijana Ivanov (mentor)
Committee memberMartina Solenički (predsjednik povjerenstva)
Committee memberGordana Kordić (član povjerenstva)
GranterUniversity of Zagreb
Faculty of Economics and Business
(Department of Finance)
Zagreb
Defense date and country2022-12-14, Croatia
Scientific / art field,
discipline and subdiscipline		SOCIAL SCIENCES
Economics
Finance
Abstract
Prijetnja zamke likvidnosti i problem efektivne donje granice navele su Sustav federalnih rezervi i ostale velike centralne banke na korištenje nekonvencionalnih mjera monetarne politike pri čemu se najviše koncentriraju na programe kupnje vrijednosnih papira i politiku budućih smjernica. Upotreba ovih mjera popularizirala se tijekom Globalne financijske krize, a ponovno su aktualizirane u odgovoru na COVID-19 pandemiju. Nekonvencionalna monetarna politika pokazala se efikasna u snižavanju kamatnih stopa, poticanju ekonomije i pružanju likvidnosti bankarskom sustavu i općenito financijskom sustavu. Također, utjecaj nekonvencionalne monetarne politike ogleda su rastu cijena imovine i novčane ponude što implicira i potencijalni utjecaj na inflaciju u 2021. i 2022. godini. Cilj istraživanja je prikazati efikasnost ovih mjera tijekom Globalne financijske krize i pandemije te problematizirati potencijalnu vezu između nekonvencionalnih mjera monetarne politike i inflacije. Metodama analize, sinteze, klasifikacije i komparacije u istraživanju je zaključeno da pozitivni efekti nekonvencionalne monetarne politike nadmašuju negativne te da je aktualna inflacija rezultat ponajviše poremećenih lanaca nabave i rapidnog oporavka agregatne potražnje.
Abstract (english)
The threat of a liquidity trap and the problem of the effective lower limit have led the major central banks to use unconventional monetary policy measures, where they mostly concentrate on asset purchase programmes and forward guidance. The use of these measures became popular during the Global Financial Crisis, and they have been revived again in response to the COVID-19 pandemic. Unconventional monetary policy has proven to be effective in lowering interest rates, stimulating the economy and providing liquidity to the banking system and the financial system in general. Also, the impact of unconventional monetary policy is reflected in the growth of asset prices and money supply, which implies a potential impact on inflation in 2021 and 2022. The goal of the research is to show the effectiveness of these measures during the Global Financial Crisis and the pandemic and to problematize the potential connection between unconventional monetary policy measures and inflation. Using the methods of analysis, synthesis, classification and comparison, the research concluded that the positive effects of unconventional monetary policy outweigh the negative ones and that the current inflation is the result of disrupted supply chains and the rapid recovery of aggregate demand.
Keywords
Keywords (english)
Languagecroatian
URN:NBNurn:nbn:hr:148:390270
Study programmeTitle: Business Economics
Study programme type: university
Study level: integrated undergraduate and graduate
Academic / professional title: magistar/magistra ekonomije (magistar/magistra ekonomije)
Type of resourceText
File originBorn digital
Access conditionsAccess restricted to authenticated users
Terms of useLicence In copyright icon
Created on2022-12-14 11:54:59