The Comparison of Monetary Policy of ECB and FED and their Reaction to the Financial Crisis
|Author:||Bc. Tereza Hajíčková|
|Year:||2012 - summer|
|Work type:|| Bachelors
|Awards and prizes:|
|Abstract:||Central banks are institutions which play an important role in today’s market economies and which have an influence on economic development. Their influence was obvious during the last financial crisis when the measures taken by them were expected with impatience.
This thesis is focused on the two important central banks in contemporary world - European Central Bank (ECB) and Federal Reserve System (FED). The first part of the thesis is a general description of central banking. It is followed by description of both banks with respect to their monetary politics. The last part of the thesis deals with the reactions of ECB and FED to the financial crisis. An analysis of the measures they have taken is also made. It is possible to conclude that monetary politics of ECB and FED was successful.