Vliv nabídky peněz na vývoj akciového trhu USA

Abstract

This bachelor thesis investigates the impact of changes in the money supply on the growth of the stock market in the United States from 2000 to 2022. Specifically, it focuses on changes in monetary aggregates M1, M2, and M1CD and stock indices Dow Jones Industrial Average, NASDAQ Composite, and NASDAQ 100. The thesis is divided into three chapters. The first chapter is theoretical and deals with the definition of money, monetary aggregates, the stock market, and selected stock indices. The first chapter also includes a summary of previous empirical research on this topic. The second chapter is devoted to the development of the studied variables. The third chapter contains a summary of the results of mutual correlations of the studied variables, using Pearson's correlation coefficient and a linear regression model. All these measurements were carried out for the period from 2000 to 2022. The results show that although the studied variables correlate with each other, these are only weak correlations. Estimates of the coefficients of determination prove that this model has weak explanatory power.