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|Other Titles: ||Assessment of Spanish industrial structure and unemployment rate after the European debt crisis and quantitative easing|
|Authors: ||陳玉軒;Chen, Yu-Hsuan|
|Keywords: ||歐債危機;量化寬鬆;失業率;西班牙;european debt crisis;Quantitative easing;Unemployment Rate;Spain|
|Issue Date: ||2016-01-22 14:48:47 (UTC+8)|
This paper mainly discusses that Spanish adopted fiscal policy urgently because the domestic financial industry was affected by real estate bubble and financial liquidity after the financial tsunami in 2008 and the sovereign debt crisis in 2009, which caused the deficit to soar quickly; the sovereign rating was inspected strictly and deducted by Credit Rating Agency because of the impact of the Greek crisis, which made government bonds yield higher and increase the cost of issuing bond. In order to solve the problems of domestic economic recession and long-term industrial structure, with the assistance of the European central bank and the European Common Fund, the Spanish government carried out austerity measurement and economic, industrial and laboring reformation, the purpose of which is to reduce the fiscal deficit, to improve domestic economic health, and to make the Spanish economy return to a track of steady growth.
Focusing on America who gained benefit from quantitative easing monetary policy, its domestic economy has been recovered since the end of 2012, and its unemployment rate had fallen to 5.6% by the end of 2014. While that remained to be in a low economic growth and high unemployment rate environment compared with the European economy.
Due to long-term economic downturn, the overall inflation continued to be contracted in Europe. In case the whole European market went towards the republication of Japanese economy, the European central bank decided to start the comprehensive implementation of quantitative easing since March 2015, imitating the USA, to save the shrinking consumer market. Because execution period is too short, this paper only uses the relevant official economic data to estimate the benefits of European quantitative easing.
|Appears in Collections:||[國際企業學系暨研究所] 學位論文|
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