03086ntm a22005177i 4500 000546178 CZ-PrVSE 20180623130039.0 m d cr n|||||||||| 180623s2018 xr fsbm 000 0 eng d NEZPRACOVANÝ IMPORT ABA006 cze ABA006 ABA006 rda Novák, Petr ISIS:114613 dis TARGET2 zůstatky : analýza jejich příčin a možných následků eng TARGET2 Balances : Analysis of Causes and Possible Consequences Petr Novák 2018 ?? stran : digital, PDF soubor Vedoucí práce: Martin Mandel Bakalářská práce (Bc.)—Vysoká škola ekonomická v Praze. Fakulta financí a účetnictví, 2018 Obsahuje bibliografii Textový (vysokoškolská kvalifikační práce) Rok obhajoby 2018 Increasing TARGET2 imbalances and their potential consequences have been a relatively new topic since the financial crisis in 2007. The goal of this thesis was to analyse the causes and possible consequences of TARGET2 imbalances by analysing the ECB’s monetary policy and balance of payments of southern European countries which accumulated greatest TARGET2 liabilities. TARGET2 imbalances have been significantly accumulating from 2007 to 2013. Then, until 2015, the imbalances have been decreasing. However, the TARGET2 imbalances have been increasing again since 2015 despite the economic growth in the eurozone. From my analysis, it appears that there were two different reasons of the imbalance increase depending on the period. After the financial crisis in 2007, the imbalance was caused by an outflow of financial capital from southern European countries. However, after 2015, the imbalance has been mainly caused by the ECB’s asset purchase programme. If the TARGET2 claims were to be written-off, the loss would be redistributed among central banks of the eurozone. Způsob přístupu: Internet finance [obor bakal. práce] bakalářské práce fd132403 czenas bachelor's theses eczenas international payments system balance of payments Economic and Monetary Union quantitative easing TARGET2 Mandel, Martin, 1962- jn20010309508 ths Metrah, Samy ISIS:71598 opn Vysoká škola ekonomická v Praze. Fakulta financí a účetnictví kn20010709398 dgg https://insis.vse.cz/zp/64109/podrobnosti VŠKP v InSIS https://insis.vse.cz/zp/64109 Hlavní práce https://insis.vse.cz/zp/64109/posudek/vedouci Hodnocení vedoucího https://insis.vse.cz/zp/64109/posudek/oponent/57953 Oponentura https://insis.vse.cz/zp/64109/podrobnosti dc:identifier NEPOSILAT VSKP vse64109 180620 64109