03812ntm a22005177i 4500 000120052 CZ-PrVSE 20210619205335.0 m d cr n|||||||||| 210619s2021 xr fsbm 000 0 eng d NEZPRACOVANÝ IMPORT ABA006 cze ABA006 ABA006 rda Aguiar Henrique Filho, Eduardo ISIS:135940 dis Dopady expanzivní měnové politiky na Trh zemědělských komodit eng Effects of expansionary monetary policy on the agricultural commodities market / Eduardo Aguiar Henrique Filho 2021 ?? stran : digital, PDF soubor Vedoucí práce: Klára Čermáková Bakalářská práce (Bc.)—Vysoká škola ekonomická v Praze. Národohospodářská fakulta, 2021 Obsahuje bibliografii Textový (vysokoškolská kvalifikační práce) Rok obhajoby 2021 Agricultural Commodities experienced a rise in prices during the first decade of the 2000s. Literature shows that monetary policies adopted by developed Economies can influence practically all economic indicators of Developing markets. This thesis aims to evaluate if certain variables of monetary policy can influence the price formation of three selected commodities: soy, corn and sugar. Secondly, the study analyzes the price formation of these commodities during a period of expansionary monetary policy to better understand how they are influenced by unconventional instruments. The central hypothesis is that an excessive liquidity created by the FED spills over to Emerging Economies, boosting investment and consumption there and, lastly, causing a commodity cycle. In the theoretical part, this study brings an overview of global liquidity and its transmission mechanisms, spillovers and its transmission mechanisms and how commodities can be impacted by monetary policy, using different approaches. In the practical part two models are developed to test this hypothesis, and the results show that monetary policy does affect commodity prices and that each commodity responds differently for each variable used. The fact that people have more capital due to credit obtained from loans seems to influence the price of Sugar; Soy is highly influenced by exchange rates of Emerging markets and Corn is not very responsive to the used variables, that might be due to the high production of this commodity in the U.S. and the protectionist policies adopted by the government. This thesis could conclude that an expansionary monetary policy is capable of impacting agricultural commodities’ prices, but by different channels due to specificities of each commodity. Způsob přístupu: Internet economics [obor bakal. práce] bakalářské práce fd132403 czenas bachelor's theses eczenas Agricultural Commodities Spillovers Monetary Expansion Liquidity Emerging Markets Čermáková, Klára ISIS:47124 ths Slaný, Martin, 1982- jx20090205012 opn Vysoká škola ekonomická v Praze. Národohospodářská fakulta kn20010709401 dgg https://insis.vse.cz/zp/74996/podrobnosti VŠKP v InSIS https://insis.vse.cz/zp/74996 Hlavní práce https://insis.vse.cz/zp/74996/posudek/vedouci Hodnocení vedoucího https://insis.vse.cz/zp/74996/posudek/oponent/71525 Oponentura https://insis.vse.cz/zp/74996/podrobnosti dc:identifier NEPOSILAT VSKP vse74996 210616 74996