National Repository of Grey Literature 15 records found  previous11 - 15  jump to record: Search took 0.01 seconds. 
Fiscal Policy and Debt Crises
Pikhart, Zdeněk ; Ševčík, Miroslav (advisor) ; Zamrazilová, Eva (referee) ; Pastoráková, Erika (referee)
Thesis deals with a fiscal policy issue with emphasis on the debt crisis. First specifics of the data capture of the government sector for the purpose of evaluating the fiscal position are analyzed. It includes assessment of the fiscal sustainability indicators and the historical reaction function of fiscal policy in the EU. The analysis of cyclical adjustment of the government balance, definition of fiscal impulse and the estimation of fiscal multipliers in the Czech Republic precedes the contribution to the debate regarding the optimal fiscal policy setup with respect to debt sustainability in the long run and sufficient degree of flexibility in the short run. The thesis concludes with the identification of the causes of the fiscal debt crises with the subsequent analysis of possible ways to resolve the already existing fiscal imbalances and assessing the appropriateness of the Czech government's consolidation.
Selection Bias Reduction in Credit Scoring Models
Ditrich, Josef ; Hebák, Petr (advisor) ; Pecáková, Iva (referee) ; Zamrazilová, Eva (referee)
Nowadays, the use of credit scoring models in the financial sector is a common practice. Credit scoring plays an important role in profitability and transparency of lending business. Given the high credit volumes, even a small improvement of discriminatory and predictive power of a credit scoring model may provide a substantial additional profit. Scoring models are applied on the through-the-door population, however, for creating them or adjusting already existing credit rules, it is usual to use only the data corresponding to accepted applicants for which payment discipline can be observed. This discrepancy can lead to reject bias (or selection bias in general). Methods trying to eliminate or reduce this phenomenon are known by the term reject inference. In general, these methods try to assess the behavior of rejected applicants or to obtain an additional information about them. In the dissertation thesis, I dealt with the enlargement method which is based on a random acceptance of applicants that would have been rejected. This method is not only time consuming but also expensive. Therefore I looked for the ways how to reduce the cost of acquiring additional information about rejected applicants. As a result, I have proposed a modification which I called the enlargement method with sorting variable. It was validated on real bank database with two possible sorting variables and the results were compared with the original version of the method. It was shown that both tested approaches can reduce its cost while retaining the accuracy of the scoring models.
Analysis of value added tax determinants
Nesnídal, Daniel ; Řežábek, Pavel (advisor) ; Zamrazilová, Eva (referee)
This master thesis analyses the relationship between state budgetary revenues from indirect taxes, the number of existing indirect tax rates and the level of those taxes. In particular, this thesis strives to investigate whether an increase in the number of indirect tax rates and higher tax rates lead to a measurable increase in the net tax revenue of a given state. The analysis uses tax-related data from 39 European countries collected between 1993 and 2014 and includes a total number of 746 observations. In order to arrive at the estimated results, this thesis uses the general method of moments analysis (GMM) along with the Arellano-Bond estimator. Results obtained through the GMM analysis suggest that, ceteris paribus, the introduction of one additional indirect tax rate leads to a decrease of net tax revenue of the state vis-a-vis its gross domestic product by 1,03 percentage points. The relationship between the level of indirect tax rate and the state's net revenues appears to be non-linear. Specifically, the increase of indirect tax rate by one percentage point appears to be associated with an increase of state's net revenue vis-a-vis its gross domestic product by approximately one percentage point.
Monetary policy of Federal reserve system and the reaction of American stock markets during financial crisis in 2008
Novotný, Martin ; Titze, Miroslav (advisor) ; Zamrazilová, Eva (referee)
The main aim of this final thesis is to analyze unconventional monetary policy of American central bank, which has been implemented during financial crisis in 2008. Fed used extremely accommodative monetary policy to restore interbank liquidity and to stimulate the real economy. In theoretical part of this thesis is examined the liquidity trap. The thesis describes transmission mechanism of transferring Fed measures to financial markets and real economy as well. Practical part of the thesis analyzes further steps of Federal reserve system, which have been implemented when key interest rates have already been lowered near the zero bound. The thesis is finished by the evaluation of these steps of American monetary authority and behavior of US stock market, which has been directly stimulated and is currently reaching its all-time highs.
Business cycle and its impact on labor markets in Czech Republic, Germany and USA from 2005 to 2014
Zoul, Zdeněk ; Ševčík, Miroslav (advisor) ; Zamrazilová, Eva (referee)
Main objective of this diploma thesis is to analyze the business cycle in USA, Germany and Czech Republic in years 2005 -- 2014 and evaluate impacts on each economy and particularly on labor markets. Work contains circumstances of beginning of the world economic downturn, which hit the world economy during those years, impacts of the crisis on each economy and analysis of the stimulus packages passed by both central governments and central banks. Analysis and comparsion is made by monitoring the development of main macroeconomic indicators such as GDP growth, rate of unemployment and employment, public debt or inflation. Conclusion is that German labor market was struck the least of the three countries and it didnt suffer from high rates of unemployment or decrease of employment. That was achieved mostly because optimal labor market reforms which were done before the beginning of the crisis.

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