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The sovereign debt crisis in the Euro area
Pilař, Tomáš ; Dvořák, Pavel (advisor) ; Helísek, Mojmír (referee) ; Žák, Milan (referee) ; Kubátová, Květa (referee)
This dissertation thesis focuses on complex analysis of the problem, which is the sovereign debt crisis in the Euro area. The aim of this paper is to provide a complex overview and analysis of the current sovereign debt crisis, from the theoretical definition of the term, through an analysis of the causes and consequences of this crisis to outline the economic policy response to it. The text is divided into two parts. The first part deals with theoretical problem solving. In the second part is analyzed and described course of sovereign debt crisis. This section also analyzes in detail causes and consequences of the sovereign debt crisis in certain countries. This section is completed by an analysis of economic policy response to the sovereign debt crisis and an expert estimate of the future development of public debt countries analyzed.
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Currency crises and their prediction in region of Central and Eastern Europe
Staněk, Daniel ; Helísek, Mojmír (advisor) ; Pazour, Michal (referee)
This thesis analyses possibilities of currency crises prediction in several countries of Central and Eastern Europe region. The thesis is structured into theoretical and practical part. Theoretical part generally describes currency crises, its importance and includes concrete cases of currency crises. There are also stated possibilities of currency crises prediction and usable indicators. Practical part of the thesis identifies currency crises among countries of the referenced region. Identification of currency crises is made on base of simple currency approach and also on base of Market Pressure Indices, more comprehensive method. Then risk of currency crises inception is analyzed according to method of International Monetary Fund and by using Signal approach. Last section of the practical part analyses influence of capital market on domestic currency and potential of capital market for currency crises prediction.
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The valuation of the economic level of Czech Republic before the entrance to eurozone
Nováková, Eva ; Helísek, Mojmír (advisor) ; Kaňková, Eva (referee)
The diploma thesis valuates the readiness of Czech Republic for entrance to eurozone with regard to the economic level. The thesis describes steps and procedures that were taken by governments to enable Czech Republic to enter eurozone, further the work analyzes and quantifies the most important criteria associated with the entrance of Czech Republic to eurozone. After analyzing these criteria, the work is oriented to one of real criteria-- the economic level. The general economic level and the potential for economic growth are valuated within the economic level. Czech Republic is valuated with regard to the average of eurozone 16 and with regard to countries that are below the average of eurozone 16. The work uses the basic indicator GDP per capita and other alternative indicators as for example GNP per capita. The substantial part of the thesis is the valuation of the economic potential, namely on the basis of investment in physical capital, investment in human capital, technical progress and competitiveness of economy on foreign markets. This valuation was used in the last part of the work to prognosticate the economic level of Czech Republic in 2015.
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Overcoming the Impacts of the Argentine Financial Crisis from 2002
Santinoni, Mariana ; Helísek, Mojmír (advisor) ; Stiegler, Pavel (referee)
This thesis focuses on the economic impact of the financial crisis that Argentina suffered between 2001 and 2002. It mainly analyses how the government approached such situation. The Currency Board regime ended and was substituted by a floating regime. Also many emergency measures were adopted in order to avoid even more chaotic situations. This thesis also deals with fiscal and monetary policy adopted in the longer term, which more or less until today reflexes the consequences of the crisis, i.e. fight against inflation, market regulation and sovereign debt towards official institutions and private investors.
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Currency crises and the role of International Monetary Fund
Dostálek, Marek ; Helísek, Mojmír (advisor) ; Sedláček, Petr (referee)
Thesis analyses role of International Monetary Fund in currency crises its proceedings and instruments and thereof arising criticism. In the first chapter there are stated definitions of currency crises, described their causes and possibilities of prevention. Short description of the Fund and used instruments in its operations are also included. The main focus is on analysis of the approach of the IMF to significant currency crises since 1990's. Mexican, south-east Asian, Argentinean and Icelandic crises are analyzed. As a practical aspect of the thesis approach of the IMF to currency crisis in the Czech republic in 1997 is examined as well. In analysis there is always stated overall description of the crisis, approach of the IMF to mitigation of the crisis and thereof arising experts' criticism. In the last chapter there is analysis of certain reports and commissions that dealt with Fund's operations and suggested reforms. Experts' opinions (Kenen, Sedlacek, Jonas) of the IMF's functioning and its summary are also part of the chapter.
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The entry of new EU member states in ERM II - theory and practical experience
Čuchranová, Mária ; Šaroch, Stanislav (advisor) ; Helísek, Mojmír (referee)
The work deals with the Exchange Rate Mechanism ERM II, explains the reasons for its creation, the gradual evolution and basic principles of its functioning. It refers not only to the common but also different features in comparison with the original mechanism ERM. Furthermore, it adverts to the issue of exchange rate stability assessment from the view of the European Central Bank and the European Commission and describes the procedural steps leading to ERM II participation. The practical part of this work deals with development of the economic situation in selected countries (Finland, Ireland, Denmark, Estonia and Slovak Republic) during their performance in the Exchange Rate Mechanism ERM / ERM II, including the solution of a macroeconomic stability problem so-called Impossible Trinity. In the case of the Czech Republic this work features its ERM II entry strategy with incorporation of the factor of the current global financial imbalance.
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Finanční pomoc MMF a podmínky jejího poskytování
Brožová, Jana ; Helísek, Mojmír (advisor) ; Lukáš, Zdeněk (referee)
Práce podrobně popisuje možnosti čerpání dodatečných finančních prostředků, které má členská země Mezinárodního měnového fondu. U kažké z facilit je popsána stručně její historie, výše do jaké může země v rámci určité facility čerpat, a systém úročení a poplatků. V práci je také věnována pozornost podmínkám, které daná země musí splnit, aby mohlo čerpání pomoci začít a úspěšně pokračovat. Stručně se také hodnotí dostupnost a účelnost facilit a systém podmínek.
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Role MMF v asijské krizi a reforma jeho protikrizové politiky
Pojer, Vladimír ; Helísek, Mojmír (advisor) ; Hazucha, Dušan (referee)
Bakalářská práce je zaměřená na roli MMF ve řešení krizových situací mezinárodních finančních vztahů. Mezinárodní měnový fond je jednou z nejvlivnějších mezinárodních měnových institucí. Jeho rozhodnutí a doporučení ovlivňují ekonomický systém celého světa. Podílí se také na řešení problémů a měnových krizí. Cílem práce je objasnit roli MMF při řešení Asijské finanční krize a jeho význam pro řešení obdobných situací ve světové ekonomice.
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