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Measurement of development of business cycle according to the Austrian school of economics
Svatoňová, Martina ; Svoboda, Miroslav (advisor) ; Mičúch, Marek (referee)
In the introduction of my work, I will focus on the presentment of the Austrian School and its main representatives. The work analyzes the Austrian business cycle theory, which is based on subjective utility theory and uses the knowledge of Austrian capital theory, monetary theory and the theory of prices. Austrian business cycle theory is based on the general economic theory. This theory suggests that the real interest rate is the market price. As a result of the change in this rate there is a variation in relative price which coordinates the time structure of production. The theory examines the production of higher order and lower order goods as well as the right to change the production of higher order goods to recognize the economic process which disrupts the structure of the economy. The main goal of this work is to identify the economic indicators which can be used to measure and predict the course of the business cycle in the conception of the Austrian school of economics. The theoretical findings are the basis of the practical part of this work. In this section I will try to answer the question whether the current economic crisis fits into the concept of the Austrian school of economics or not.
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Bilateral relations between interest rates and exchange rates (in selected countries)
Kočí, Tomáš ; Durčáková, Jaroslava (advisor) ; Kunz, Tomáš (referee)
This thesis deals with the relation between interest differential and exchange rate. First part is about the exchange rate system explanation and about explanation of theoretical background of relation between interest rate and exchange rate (i. e. Asset Market Model, Interest Rate Parity, etc.). The goal of second part is to verify theoretical assumptions on empirical data. There is a sample of ten European countries which is used for applying of graphical analysis, regression analysis and VAR model analysis.
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Impact of financial crisis on the family budget
Hora, Lukáš ; Smrčka, Luboš (advisor) ; Zámečník, Petr (referee)
Market swings influence not only companies, goverment but also households. In the days of the economic recession people perception this progress more than economic growth. Nowadays media have according as technology development major impact on consumer berhavior. In this bachelor's thesis I put one's mind to affection of world and Czech economic on families or person. It has connection with process of savings in the past 2-3 years in private sector. In fine I handle with intervention of goverment and thier efficiency.
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Měnověpolitické nástroje České národní banky
Pincová, Stanislava ; Burgerová, Jiřina (advisor) ; Štěpánek, Pavel (referee)
This bachelor study analyses the monetary policy instruments, which the Central banks are using, and also Czech National Bank. In this work both direct and indirect monetary policy instruments are described. Also there is a historical development of the preferred indirect instruments, and examples of their application in Czech environment. Last but not least, this paper focuses on this problematic also in the European Central Bank.
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Commodities - Why and how to invest into them
Krišlo, Michal ; Drozen, František (advisor) ; Filipová, Vladimíra (referee)
First part is focused on general characteristics of commodities and fundamentals influencing the price of commodities. Second practical part offers some considerations about coming development of several asset classes from the view of individual investor and at the same time offers several financial instruments which are suitable for investing into commodities. The final part contains evaluation of debated conclusions with emphasis on their recency.
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Price Deflation
Thorovský, Jan ; Šíma, Josef (advisor) ; Mládek, Josef (referee)
The thesis deals with a monetary phenomenon of price deflation. In modern monetary theories, causes are sometimes confused with consequences. As to price deflation, consequences of causes of this phenomenon are often attributed to it while it is not a cause but a mere consequence. That's why we have identified causes of price deflation and their true consequences in the thesis. According to quantity theory of money, there are three main sources of price deflation as follows: decline in money supply, decline in velocity of circulation of money, and productivity growth. These causes are analyzed in detail, each of them in a single chapter. Price deflation is often associated with depressions while in some cases it might be a mere consequence of depression, not a cause. On the other hand, price deflation might also be a consequence of productivity growth (unless accommodated by increase in money supply) which makes it perfectly compatible with a healthy and growing economy.
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Mortgage Banking
Habrová, Marta ; Kovář, František (advisor) ; Votava, Libor (referee)
This bachelor work is focused on mortgages in the Czech Republic. Mortgages generally are described at the beginning of my work - their characteristics, properties and kinds. Approval procedure of mortgages is described in another part of work (from request for loan to mortgage repayment). Practical part of my work includes comparison of products of mortgage banks, which I made from the point of view of advantages for customers. This work deals with the theme of financial crisis in the mortgage market, which have started in the USA in 2008.
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Mortgages in the Czech Republic
Budilová, Lucie ; Hlaváč, Petr (advisor) ; Skopeček, Jan (referee)
This bachelor paper is focused on mortgages in the Czech Republic. In the first chapter I describe mortgages in general including legislature. The second chapter is The Comparative Description of Hypothecary Market in the Czech Republic. In the first part, there is the list of hypothecary products and their comparison. In the second part, there is an analysis of three banks. The main aim is to analyze mortgages in the regard of lenght of fixation interest rate and length of maturity. The third chapter searches some effect of The Subprime Mortgage Crisis in the U.S. on the Czech Republic.
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The evolution of euro exchange rate from its introduction to present
Hlaváč, Ján ; Taušer, Josef (advisor) ; Karlíček, Miroslav (referee)
Práce ve své první části popisuje evropskou spolupráci a konvergenci v hospodářské a měnové oblasti. Druhá část je zaměřena na převážně deskriptivní hodnocení směnného kurzu eura s americkým dolarem. Vývoj kurzu je komentován na základě různých studií, odborných publikací a agenturních zpráv a pozoruje vliv očekávaného růstu ekonomik USA a Eurozóny a pohyby úrokových sazeb v těchto oblastech na vývoj směnného kurzu.
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Rakouská teorie hospodářského cyklu - pohled současné makroekonomie
Potužák, Pavel ; Ševčík, Miroslav (advisor) ; Havel, Jan (referee)
Tato diplomová práce analyzuje rakouskou teorii hospodářského cyklu. Představuje její základní stavební kameny. V této teorii neexistuje rozlišení mezi krátkým a dlouhým obdobím, proto je spojena analýza hospodářského cyklu a hospodářského růstu. Hlavním klíčem k jejímu pochopení je teorie kapitálu, jež se zrcadlí v tzv. intertemporální struktuře produkce. Hospodářský cyklus je způsoben monetárním šokem, který atakuje cenový systém ekonomiky, zejména pak úrokovou míru. Tyto disturbance narušují intertemporální strukturu kapitálu a zahajují hospodářský cyklus. Diplomová práce analyzuje ne-neutralitu peněz, a to i v případě změn poptávky po penězích. Dále se pokouší představit slabiny této teorie a nalézá možná řešení. Diplomová práce také porovnává rakouskou teorii s moderními teoriemi hospodářského cyklu a upozorňuje na některé vady těchto teorií. Na závěr jsou vysvětleny hlavní pohyby české ekonomiky pomocí rakouské teorie hospodářského cyklu.
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