|
|
The Austrian business cycle theory: empirical evidence
Komrska, Martin ; Potužák, Pavel (advisor) ; Zemplinerová, Alena (referee)
The aim of this diploma thesis is to empirically investigate the explanatory power of Austrian business cycle theory. My dataset consists of US quarterly time series within the period between 1971 and 2009. As regards the NBER classification, this dataset covers six complete business cycles, including the recent global financial crisis. Following Wainhouse (1984), Keeler (2001) and Bjerkenes et al. (2010) I use Granger causality as one of the primary tools of the analysis. Moreover I also add Impulse response functions to discover the direction of observed relationships. As regards my primary group of hypotheses I found significant empirical evidence for the connection between changes in interest rate and structure of production. The secondary group of hypotheses is less successful; however I found the very first empirical illustration of Garrison's version of ABCT.
|
|
|
The Development of Price Control in Czech Republic from 1989 until Present
Klement, Josef ; Zeman, Karel (advisor) ; Zemplinerová, Alena (referee)
The aim of the thesis is an analysis of price control in the Czech Republic from 1989 until present and identification of positive and negative effects of the control on market environment in the examined period. One fifth of the consumer basket which is used to measure inflation by Czech Statistical Office is subject to the price control of usual prices. Therefore, the price control influences wide variety of services and goods and thus, the analysis of this control is still very interesting and up to date. The theoretical part characterizes terms and definitions such as a theory of price control, kinds of control and a theory of price from the theoretical point of view. It also describes fields that are included in a state price control. Another important part describes views of different economical schools on the issue of the state price control and theory of ownership. The practical part deals with the analysis of price control in the Czech Republic in a time span from 1989 until present. The first part analyzes price liberalization which is one of the pillars of transformation of the Czech Republic after 1989. Other part characterizes the remaining period, in which, the most important part is the accession of the Czech Republic to the EU.
|
|
|
The development of capital market in the Czech Republic from 1989 to present
Jiráček, Jakub ; Zeman, Karel (advisor) ; Zemplinerová, Alena (referee)
This bachelor thesis analyses the development of the capital market in the Czech Republic from the viewpoint of the legal framework, institutional security and from the development of activity of capital market from the year 1989 up to the present. One part of the research is answering the question -- whether is the investment for the retail customers more accessible. The theoretical part consists of the theory of capital market and the theory of regulation and supervision of the capital market. Simultaneously, it clarifies the reasons of his rise and explains the particular terms which are concerning capital market. The practical part is describing and analyzing the development of the capital market itself in the Czech Republic in the observed term. First it will be examined the development of legal framework. Then it follows the development of the institutional security. Afterwards is analyzed the development of the capital market. Within the analyzed framework of the development of the capital market are set these parameters: the number of issues of securities and the trading volume of securities, stock market indices and their correlation with the efficiency of economy.
|
|
|
Comparison of taxi services in selected metropolises
Páchová, Markéta ; Zemplinerová, Alena (advisor) ; Gráf, Václav (referee)
This thesis is focused on different government approaches to taxi market. It discusses necessity of regulations in this branch. The core part of this thesis is empirical analysis of taxi markets in London, Dublin, Paris, Stockholm, New York and Prague. To study the subject more complex I also examined PHV (private hire vehicle) market which provides almost the same kind of services but it is not regulated. These markets are compared in term of supply -- number of cars per capita and price, and also in term of demand -- utilization of cars and customers content. According to this comparison I tried to find out if any of these approches can be considered as optimal, and wheather if regulated or deregulated markets bring better results. This thesis also discusses the best way how to deregulate entry into the taxi market. This will be illustrated by case study of entry deregulation in Dublin. I also provide some recommendation for taxi market in Prague.
|
|
|
The influence of foreign investors on the Czech economy on the example of entrance of Volkswagen AG into Škoda Auto a.s.
Šírková, Veronika ; Vostrovská, Zdenka (advisor) ; Zemplinerová, Alena (referee)
The principal objective of the bachelor thesis is to compare and evaluate situation of the Czech Republic at the transformation period under the influence of foreign investors. The thesis deals with starting points of the transformation of the Czech economic system; thus why the foreign investors have chosen the Czech Republic for fulfillment of their goals. This whole process is demonstrated on a concrete example of the entrance of German concern Volkswagen AG into Czech automobile factory in Mladá Boleslav -- Škoda Auto a.s. Using SWOT analysis is the bachelor thesis trying to evaluate contributions and negative influence on the Czech economic development after the concern's entrance.
|
|
|
Analysis of the innovation potential of the Czech Republic
Čech, Bohuslav ; Dočkal, Dalibor (advisor) ; Zemplinerová, Alena (referee)
This thesis focuses on innovation and their forms, theories of innovation as a source of economic cycles and innovation activity within the entrepreneur theory. On these basics using a deductive method creates a new theory of population as the only real source of innovation potential. This theory is then used for analysis with focus on quantity -- number of inhabitants and quality -- educational structure of inhabitants. It leads to the conclusion, that Czech republic doesn't have enough sources for innovation driven economic growth.
|
|
|
Review of the application of Article 82 - in search of a sound economics
Pražský, Ondřej ; Stuna, Stanislav (advisor) ; Boháček, Martin (referee) ; Zemplinerová, Alena (referee) ; Munková, Jindřiška (referee)
European competition law originated after the end of the Second World War as a part of treaties instrumental to the European integration process and it evolved through secondary law and jurisprudence of the European Court of Justice from an international trade provision into its modern and truly general form. European Commission in it its endeavor to modernize competition law presents a review of the application of Article 82. The goal of the review is to base the policy on a sound economic framework, to aim on effects of abusive conduct rather than on its form and finally to focus mainly on the most important competition problems. This thesis advocates the necessity of an economic analysis while assessing the possible abuse of dominant position in concrete cases and therefore welcomes proclaimed goals of the review. Conversely it criticizes the insufficient fulfillment of these goals, which is in our view, mainly due to misunderstanding of the operation of market mechanism. Economics is in its most generalized form a complex science of purposeful human action. It is therefore not a toolbox, from which one could ad hoc take models or theories in order to assess the abuse of dominant position in real-world cases. This naive approach often leads authorities to make unsound or paradox rulings. We demonstrate the indispensability of correctly understanding the market mechanism in referencing the famous Microsoft case. Industries of the New Economy are characterized by strong network effects and a high portion of fixed costs, which makes the firms often compete "for the market" instead of "on the market". The corollary high market share is not in our view a manifestation of a monopoly position, which could be exploited using monopoly price. Modern economy explains how potential competition forces these highly efficient firms to continuously invest into new technologies and how it pushes down the price of final products. On the other hand, recourse to ad hoc doctrines or non adequate economic models may lead to erroneous assessment of abuse of dominant position.
|
|
|
System of national accounts and business cycle
Rybáček, Václav ; Zemplinerová, Alena (advisor) ; Šíma, Josef (referee) ; Ondruš, Vítězslav (referee)
Thesis deals with system of national accounts providing information for economic policy institutions. Relation of the system to economic theory is examined with focus on disposable income. We try to answer the question if SNA follows theory originally used for construction the system or if SNA constitutes separated stream of economic theory. Then, crucial concepts of GDP calculation as definition of economic activity, value added concept or concept of derived demand are discussed. Key problem is the relation of GDP to business cycle anylsis, thus, we use alternative indicator of economic activity for analysis of Czech economy.
|
|
|
The Economics of Wind Energy
Ryvolová, Ivana ; Zemplinerová, Alena (advisor) ; Žák, Milan (referee) ; Štěpán, Vladimír (referee)
The presented work examines the special characteristics of electricity produced by the wind as a renewable resource into which considerable hopes are being placed. Production of electricity from wind, as well as from other renewable sources, is a subject of many legislatively enshrined preferential rules. These subsidies and regulatory provisions help the energy producers but represent additional costs to every final customer and tax payer. The aim of this work is to analyse the key arguments of wind energy advocates, which are 1) economic advantage of this production due to zero costs for 'fuel' and 2) negligible burden on the environment due to zero carbon dioxide emissions. The work takes into account all aspects of wind energy production, including their financial and extra-financial implications, and shows their indefensibility in economic terms and in terms of environmental protection. Besides, I have attempted to identify institutional aspects and forms of government which is known to give interest groups a chance to succeed in their rent-seeking activities and as a result allow prosperity of the above-mentioned ineffective energy production. Attention is also paid to the observation that, given the specific technological features of electricity production from the wind, it is not possible to fully apply the conclusions of a traditional theory of economic regulation onto the current position of key players in the electricity market.
|
|
|
The protection of the economic competition and the role of providing of state aid to enterprises
Paneš, Patrik ; Zemplinerová, Alena (advisor) ; Urban, Luděk (referee) ; Benáček, Vladimír (referee)
State aid is the government intervention, which affects the economic competition because of the preference of certain market subjects. The European Union has concluded that if there exists any violation of competition in the international scale, it would be the reason for constitution of supranational regulation of its providing. The economic policy of subsidizing of chosen market subjects could be in principle taken into account as the subset of the industrial economic policy. Through it, the governments fulfill their miscellaneous structural intentions, from aborning industries helping till the declining industries saving. However, this type of the economic policy seems to be contrary to the protection of the economic competition, which has been declared as the one of key segments of the economic policy of the European Union. Selective privileges constitute anti-competition policy, so thus has been their control incorporated within the policy of the protection of competition. During the reviewing of the legality of provided state aid, we could see that the authorities prefer simpler, just legal review of the problem instead of the deeper economic testing of the given case. And that is the reason (together with the high recency of the theme), why this dissertation aims the generally neglected, economical aspect of the problem. I.a. it concentrates itself on the sight from the perspective of the Public Choice economic theory, which studies the interrelationship between the worlds of politics and economics. This important relation could not be marginalized and during the research work abstracted. Logical structure of exposed dissertation follows: first ordinary chapter focuses on the theoretical concepts of the state aids. It regards chosen questions from the point of view of different streams of the economic thoughts. It devotes itself especially to the effects of the state aids on the economy from the light of macroeconomics, microeconomics and international economics. It contains also conclusions of some empirical analyses. Next chapter focuses on the legal environment of the branch of subsidizing. Primary it contains communitary regulations of the European Union, secondary the list of legislation relevant for the Czech Republic and within the World Trade Organization, which has constituted unique system of countervailing measures. Next part of the dissertation maps different possibilities of measurement of the extent of granted state aids. With the stipulation of calculation difficulty and resulting lower ability of comparability, it uses subsequently four sources of data. One part of the dissertation is especially devoted to the analytical statistical system of the European Union, which is called the Scoreboard. First, there is characterized its methodology, and further, there is -- with the use of this database -- analyzed the structure of state aid granting within the area of the European Union. Its development is compared with the aim of the Lisbon strategy from the year of 2000. Last ordinary chapter represents the attempt -- on the base of the enterprise data -- to elementary research of the existence of the link between state aid and final market. Analysis could be characterized as the contribution to the -- yet more likely occasionally -- research of the effects of subsidizing within the context of competitiveness of target industry. Tested hypotheses are: larger industries receive more subsidies and industries receiving subsidies do not improve their competitiveness. For the case study has been the combination of four data sources used. The goal of this dissertation is the description of the questions of state aid provision from the highest possible number of different points of view, of course with the accent on the economics and with the stipulation of constraint of (un)availability of relevant data. In the end of the dissertation there are submitted some practical economic policy suggestions. During its elaboration there was wide variety of specialized literature used and great number of relevant thought and data sources processed, after all as the enclosed list at the very end of this thesis could show. The value added of exposed dissertation and its contribution to the existing research of chosen theme is namely the complexity of analysis, the compilation of previously developed knowledge, and also empirical findings.
|
guest ::
