Zhodnocení dopadů měnové politiky po finanční krizi v letech 2007 - 2009 na makroekonomický vývoj zemí Visegrádské čtyřky

The diploma thesis analyses the impact of central bank monetary policy on the macroeconomic development of the Visegrad group (i.e. Poland, Czech Republic, Slovakia and Hungary). The analysis focuses on the period from 2007 to 2017. The first part of the thesis describes the basic aspects of monetary policy needed to understand its functioning, development of the financial crisis in 2007–2009 and the possibilities of monetary policy after reaching the zero lower bound. In the practical part impacts of monetary policy on the macroeconomic development of individual Visegrad countries are analysed. Macroeconomic development is analysed according to the basic macroeconomic indicators that define the internal and external economic equilibrium. The thesis concludes that moderate monetary policy has produced the same results as monetary policy of central banks using non-traditional instruments.