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undergraduate thesis
Monetarna politika u uvjetima inflacije i oporavka od pandemijske krize
Požega: Josip Juraj Strossmayer University of Osijek, Faculty of Tourism and Rural Development in Požega, 2023. urn:nbn:hr:277:911698
Gaura, Kristina
Josip Juraj Strossmayer University of Osijek
Faculty of Tourism and Rural Development in Pozega

Institutional repository: FTRR Repository

Cite this document

Gaura, K. (2023). Monetarna politika u uvjetima inflacije i oporavka od pandemijske krize (Undergraduate thesis). Požega: Josip Juraj Strossmayer University of Osijek, Faculty of Tourism and Rural Development in Pozega. Retrieved from https://urn.nsk.hr/urn:nbn:hr:277:911698

Gaura, Kristina. "Monetarna politika u uvjetima inflacije i oporavka od pandemijske krize." Undergraduate thesis, Josip Juraj Strossmayer University of Osijek, Faculty of Tourism and Rural Development in Pozega, 2023. https://urn.nsk.hr/urn:nbn:hr:277:911698

Gaura, Kristina. "Monetarna politika u uvjetima inflacije i oporavka od pandemijske krize." Undergraduate thesis, Josip Juraj Strossmayer University of Osijek, Faculty of Tourism and Rural Development in Pozega, 2023. https://urn.nsk.hr/urn:nbn:hr:277:911698

Gaura, K. (2023). 'Monetarna politika u uvjetima inflacije i oporavka od pandemijske krize', Undergraduate thesis, Josip Juraj Strossmayer University of Osijek, Faculty of Tourism and Rural Development in Pozega, accessed 11 July 2024, https://urn.nsk.hr/urn:nbn:hr:277:911698

Gaura K. Monetarna politika u uvjetima inflacije i oporavka od pandemijske krize [Undergraduate thesis]. Požega: Josip Juraj Strossmayer University of Osijek, Faculty of Tourism and Rural Development in Pozega; 2023 [cited 2024 July 11] Available at: https://urn.nsk.hr/urn:nbn:hr:277:911698

K. Gaura, "Monetarna politika u uvjetima inflacije i oporavka od pandemijske krize", Undergraduate thesis, Josip Juraj Strossmayer University of Osijek, Faculty of Tourism and Rural Development in Pozega, Požega, 2023. Available at: https://urn.nsk.hr/urn:nbn:hr:277:911698

Metadata
TitleMonetarna politika u uvjetima inflacije i oporavka od pandemijske krize
Title (english)Monetary Policy During the Pandemics and Inflation
AuthorKristina Gaura
MentorMirjana Jeleč Raguž (mentor)
Committee memberKatarina Štavlić (predsjednik povjerenstva)
Committee memberMirjana Jeleč Raguž (član povjerenstva)
Committee memberSvjetlana Letinić (član povjerenstva)
GranterJosip Juraj Strossmayer University of Osijek
Faculty of Tourism and Rural Development in Pozega
Požega
Defense date and country2023-09-27, Croatia
Scientific / art field,
discipline and subdiscipline		SOCIAL SCIENCES
Economics
Abstract
Cilj ovog rada je istražiti mjere i instrumente koje su nositelji monetarne politike, odnosno Hrvatska narodna banka i Europska središnja banka, koristili tijekom razdoblja pandemije te poslije, za vrijeme inflacije. Uz istraživanje, u radu je prikazan i teorijski okvir monetarne politike, njenih instrumenata i ciljeva. Rezultati istraživanja ukazuju kako su nositelji monetarne politike u razdoblju pada gospodarske aktivnosti tijekom pandemije koronavirusa koristili kombinaciju ovih instrumenata: operacije na otvorenom tržištu, obvezna pričuve te politiku kamatne stope. Operacijama na otvorenom tržištu HNB je kupovala vrijednosne papire i strane valute kako bi injektirala novac u sustav. Obvezna pričuva se smanjila kako bi se oslobodio višak likvidnosti. Politikom niske kamatne stope željelo se destimulirati štednju, a potaknuti povoljne kredite. S druge strane, tijekom razdoblja inflacije koja je jednim dijelom i posljedica instrumenata korištenih za vrijeme pandemije, ESB je upotrijebila instrument stalno raspoloživih mogućnosti, odnosno povisila je stope refinanciranja, stopu depozita te stopu marginalnog zaduživanja, čime se želi reducirati likvidnost sustava i ograničiti rast inflacije.
Abstract (english)
The aim of this paper is to explore the measures and instruments used by monetary policy authorities, namely the Croatian National Bank (HNB) and the European Central Bank (ECB), during the pandemic period and afterwards during inflation. In addition to the research, the paper presents the theoretical framework of monetary policy, its instruments, and objectives. The research results in the paper indicate that monetary policy authorities during the economic downturn caused by the COVID-19 pandemic employed a combination of instruments: open market operations, minimum reserve requirements, and standing facilities. Through open market operations, the central bank bought securities and foreign currencies in order to inject money into the system. The reserve requirement was reduced to free up excess liquidity. The policy of low interest rates was intended to discourage savings and encourage favorable loans. On the other hand, during the period of inflation, which was partly a consequence of the instruments used during the pandemic, the focus shifted primarily to the use of standing facilities. By increasing benchmark interest rate, the deposit facility rate and the marginal lending rate ECB aims to reduce the liquidity of the system and limit the inflation.
Keywords
Keywords (english)
Languagecroatian
URN:NBNurn:nbn:hr:277:911698
Study programmeTitle: Social Sciences - Accounting
Study programme type: professional
Study level: undergraduate
Academic / professional title: prvostupnik/prvostupnica (baccalaureus/baccalaurea) ekonomije (prvostupnik/prvostupnica (baccalaureus/baccalaurea) ekonomije)
Type of resourceText
File originBorn digital
Access conditionsAccess restricted to students and staff of home institution
Terms of useLicence In copyright icon
Created on2023-10-05 11:42:11