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Fiscal rules in selected EU countries between 2004-2015: sensible method for consolidation of public finances or fad of politicians?
Veselý, Lukáš ; Strejček, Ivo (advisor) ; Chmelová, Pavla (referee)
The subject of fiscal rules is very topical issue. The rise of public debt in certain developed countries resulted in what is sometimes called "debt crisis". Debt of those countries which is higher than their annual gross domestic product is viewed as unpayable by some economists. The main objective of this thesis has been to prove or disprove hypothesis that the fiscal rules studied in this paper are an effective solution for public finance consolidation. This verification was based on the analysis of fiscal rules functioning in selected countries between 2004 and 2015. As per results of analysis the paper aims to give recommendations for the Czech financial constitution proposal. The actual results of inquiry proved the hypothesis. Well-chosen fiscal rules are the right way towards fiscal consolidation, provided they are observed. Fiscal rules making thus requires an emphasis to be placed on the well-formulated exit clauses altogether with prospective sanctions. The current Czech financial constitution proposal is built on the correctly picked fiscal rule type, although the reference value lacks economic sense and it would not lead, with a high degree of probability, towards fiscal consolidation.

Pulsed liquid jet generated by pulse multiplication technique
Dvorský, R. ; Sitek, Libor ; Sochor, T.
First theoretical papers summarizing the high mechanical energy cumulation when high-speed drops impacting the solid surface as a result of the water hammer effect have been known since 1960’s. Heymann has demonstrated that pressure maximum in the impact of a spherical drop of a liquid is several times higher than the presupposed maximum for the classical water hammer effect. The latter maximum pressure itself exceeds the mere stagnation pressure of the continuous jet many times hereat. When developing devices for pulse jet generation a new generalization of the classical water hammer theory for high pressures has been implemented. Based on this the new patented principle of “pulse multiplication” has been formulated. The pulse multiplier is the source of high-pressure pulses with 100% depth of modulation of liquid jet discharge velocity that allows increasing the jet disintegration effect significantly without the abrasive material application.
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Pupils knowledges abou infectious diseases
Rančáková, Hana ; Drda Morávková, Alena (advisor) ; Erhart, Lukáš (referee)
A knowledge about infectious diseases and vaccination is very important in this time. The questionnaire, which is part of this thesis, is designated for 1st to 4th grade high school students and the upper grade grammar school pupils. The questionnaire was used to analyse pupils' knowledge and attitudes about infectious diseases and vaccination. Pupils' knowledge and attitudes are quite good and students are able to voice their opinion. Females have better knowledge than males and older students are better too. The thesis is further focusing on how are the infectious diseases included in the National Curriculum and examine the prevention programmes for schools. The other purpose is to follow up the threat of pandemic diseases and present state of knowledge and awareness about this topic.

Use of Interest Rate Models for Interest Rate Risk Management in the Czech Financial Market Environment
Cíchová Králová, Dana ; Arlt, Josef (advisor) ; Cipra, Tomáš (referee) ; Witzany, Jiří (referee)
The main goal of this thesis is to suggest an appropriate approach to interest rate risk modeling in the Czech financial market environment in various situations. Three distinct periods are analyzed. These periods, which are the period before the global financial crisis, period during the financial crisis and in the aftermath of the global financial crisis and calming subsequent debt crisis in the eurozone, are characterized by different evaluation of liquidity and credit risk, different relationship between financial variables and market participants and different degree of market regulations. Within this goal, an application of the BGM model in the Czech financial market environment is crucial. Use of the BGM model for the purpose of predicting a dynamics of a yield curve is not very common. This is firstly due to the fact that primary use of this model is a valuation of interest rate derivatives while ensuring the absence of arbitrage and secondly its application is relatively difficult. Nevertheless, I apply the BGM model to obtain predictions of the probability distributions of interest rates in the Czech and eurozone market environment, because its complexity, direct modeling of a yield curve based on market rates and especially a possibility of parameter estimation based on current swaptions volatilities quotations may lead to a significant improvement of predictions. This improvement was also confirmed in this thesis. Use of swaptions volatilities market quotations is especially useful in the period of unprecedented mone- tary easing and increased number of central banks and other regulators interventions into financial markets that occur after the financial crisis, because it reflects current market expectations which also include future interventions. As a consequence of underdevelopment of the Czech financial market there are no market quotations of Czech koruna denominated swaptions volatilities. I suggest their approximations based on quotations of euro denominated swaptions volatilities and also using volatilities of koruna and euro forward rates. Use of this approach ensures that predictions of the Czech yield curve dynamics contain current market expectations. To my knowledge, any other author has not presented similar application of the BGM model in the Czech financial market environment. In this thesis I further predict a Czech and Euro area money market yield curve dynamics using the CIR and the GP models as representatives of various types of interest rates models to compare these predictions with BGM predictions. I suggest a comprehensive system of three criteria, based on comparison of predicti- ons with reality, to describe a predictive power of selected models and an appropria- teness of their use in the Czech market environment during different situations in the market. This analysis shows that predictions of the Czech money market yield curve dynamics based on the BGM model demonstrate high predictive power and the best 8 quality in comparison with other models. GP model also produces relatively good qua- lity predictions. Conversely, predictions based on the CIR model as a representative of short rate model family completely failed when describing reality. In a situation when the economy allows negative rates and there is simultaneously a significant likelihood of their implementation, I recommend to obtain predictions of Czech money market yield curve dynamics using GP model which allows existence of negative interest rates. This analysis also contains a statistical test for validating the predictive power of each model and information on other tests. Berkowitz test rejects a hypothesis of accurate predictions for each model. However, this fact is common in real data testing even when using relatively good model. This fact is especially caused by difficult fulfilment of test conditions in real world. To my knowledge, such an analysis of the predictive power of selected interest rate models moreover in the Czech financial market environment has not been published yet. The last goal of this thesis is to suggest an appropriate approach to obtaining pre- dictions of Czech government bonds risk premium dynamics. I define this risk premium as a difference between government bond yields and fixed rate of CZK IRS with the same length. I apply the GP model to describe the dynamics of this indicator of the Czech Republic credit risk. In order to obtain a time series of the risk premium which are necessary for estimation of GP model parameters I firstly estimate yield curves of Czech government bonds using Svensson model for each trading day since 2005. Resulting si- mulations of risk premium show that the GP model predicts the real development of risk premiums of all maturities relatively well. Hence, the proposed approach is suitable for modeling of Czech Republic credit risk based on the use of information extracted from financial markets. I have not registered proposed approach to risk premium modeling moreover in the Czech financial market environment in other publications.

Differences between men and women in the Czech labour market
Stroukal, Dominik ; Kadeřábková, Božena (advisor) ; Pavelka, Tomáš (referee) ; Němec, Otakar (referee)
This thesis consists of five articles that apply current world research on labor economics at the Czech Republic and confirms the significant differences between men and women in this market. It shows that gender has a significant influence on the preference on the labor market and, consequently, on employment and health. First, the thesis shows that preferences are relevant determinant of career and then we study the difference in preference of salary for men and women. Subsequently it shows that gender plays a significant role in explaining the relationship between homeownership, and unemployment, as well as unemployment and health. The first chapter was able to demonstrate that the preference for a career has a positive influence on the choice of career. The influence of higher education on prioritizing career proved to be positive and significant. Probability of a career choice is reduced by the presence of children, however, is not dependent on their number, which is contrary to the theory of preferences. The second chapter shows that Czech women prefer more non-monetary rewards than men. It has also been shown that people with university education are same in the preferences of non-monetary rewards regardless of the gender of the respondents, however, compared to the world's research, the Czech higher education increases this preference. It turned out that women prefer risk less than men. The third chapter demonstrates that although the housing market undermines labor mobility and employment in the Czech Republic at the regional level, therefore, that in regions with a higher rate of home ownership is higher unemployment, at the individual level, the owners of housing are unemployed are less likely. The estimates are significantly different for men and women. Men living in owner-occupied housing have a higher likelihood of employment than women. At regional level, however, this thesis shows that the high rate of home ownership increases unemployment for both men and women, in the long run only to women. The fourth chapter showed that men transition to homeownership reduces the likelihood of unemployment next year. For women, this relationship has proved to be insignificant. In addition, as insignificant showed the opposite relationship, the transition from unemployment to the newly acquired home ownership. The last chapter shows that the change in the working status to unemployment will increase in the future probability of worse health. Influence in less than two years, however, proved to be significant. An important conclusion is that men have a significantly stronger relationship between health and unemployment than women.

Usage of unstructured data in Business Intelligence
Rakhmanova, Malika ; Šperková, Lucie (advisor) ; Karkošková, Soňa (referee)
The aim of the thesis is to identify the main trends that are occurring in the market of Business Intelligence and related to unstructured data, to describe the possibilities for integrating unstructured data, to clarify what the impact on the company have the results that can be obtained using these solutions and how generally incorporate an analysis of unstructured data into BI. Another aim is to show the current situation of processing unstructured data on the example of BI system. The thesis is divided into several parts. First part is describing of the Business Intelligence area and the basic components of Business Intelligence, as well as identifying market trends. Then, there is the next part: separating the data into structured and unstructured. Here is the part about how you can access and analyse unstructured data and what is their place in BI systems. This is the end of a block of unstructured data and the beginning of a description of the enhanced version of BI. Finally, the current market situation and BI tools, which include unstructured data, are introduced. This section provides an overview of how BI tools approach to analyse unstructured data. Existed literature, professional and freely available Internet resources are used for writing the work. The purpose is to serve as a source of information for quickly orienting in the current situation, to serve as a guide to the world of BI solutions and to show potential users what are the options and functionality of these BI solutions.

The nutritional importance of polyphenols in berries
MARTANOVÁ, Anna
People's nutrition is inseparable part of our lives. We could include substances, that we know are healtful, to our food. If we don't have enough of the substances, we can see negative effects on human organism. The substances are named micronutrients and vitamins. We could enrich a diet with substances that we think are healthy, but their deficit doesn't case pathological symptoms. Food which we put to this category is possible to name as function food. Function food contains substances which have positive effect on our health. One of the substances are polyphenols. This issue is very interesting for me, because polyphenols are compounds that are among others particulary found in berries, especially in blueberries. Blueberries are berries that are widespread throughout the world. One of the best sources of blueberries is also Sumava, where I come from and where blueberries are well connected. The first part of my thesis is about the functional foods and ingredients that make these foods Functional foods. Ordering: probiotics, prebiotics, synobiotiks, micronutrients, fytochemiks and polyphenols. Farther the first part deals with berries, specializing in blueberry and its properties and composition, which can have a positive impact on human health.In the second part there were two objectives of the work. The first aim of my study was to determine the diet, which includes foods that contain the optimum intake of polyphenols, equivalent to 120 ml of fetal native blueberries. Polyphenols are that part of blueberries, which make them so special. In the diet were preferentially embedded short dishes that have undergone heat treatment. Analyses of polyphenols in foods and beverages I got with the program GEOMED hospital Ceske Budejovice, Inc., Department of Clinical Pharmacology. Results polyphenol content were performed by HPLC. The content of polyphenols in native blueberries was laid as equal to 1 and the contents examined further product was then expressed as a multiple or ratio of the native blueberries. I take into account all these factors when drawing up the model menu. Another aim I have set is to map products in which the content of polyphenol is beneficial. There is a high number of products with blueberry flavour on the market. The content of blueberries, however, is often negligible. The surprising result was the polyphenol content in lemonade Toma, whose relative value ug / ml is 2.59 when compared with the native blueberry, which is placed as equal to 1. After the development work, in which I obtained information from the literature search, the sales network and the Department of Clinical Pharmacology, Hospital Ceske Budejovice, I would like to say that blueberries are an important source of polyphenols and that a diet which will include daily equivalent of receiving polyphenols, may not in any way differ from a regular rational diet. Not even cooking the dish precludes putting together this diet because blueberries are relatively stable against temperature changes. Inclusion of such a diet in the catering equipment could bring a positive impact in the future, especially for older people by improving memory function and balance.

Analysis of the Motivation and Satisfaction of Employees in a firm
Gonta, Natalya ; Dvořáková, Zuzana (advisor) ; Odvárková, Markéta (referee)
The aim of this study is to analyze the motivation and satisfaction of employees at British American Tobacco Ltd. The bachelor thesis consists of two parts - theoretical and practical. The first part describes the concepts and sources of motivation, which affect the performance of employees in the company. The second part describes the aim of the research, its progress and evaluation results in respect of which was carried out to analyze the way of motivation and satisfaction of employees in the company. For the following analysis methods were used questionnaire and a personal unstructured interview. The result of the thesis is mentioned proposal for improving the motivation of employees, which has potential and could be implemented in the company.

World Trade in Crude Oil
Benešová, Nela ; Čajka, Radek (advisor) ; Bolotov, Ilya (referee)
This master´s thesis deals with trade with crude oil and its impact on the world economy. Everyone, who wants to start to trade with crude oil, should find out basic terminology and information about crude oil that is characterized in the first chapter. The hunt for oil started many years ago, therefore the history is also mentioned in this master´s thesis. The second chapter focuses on the world trade with crude oil. Territorial structure and trade flows are described in this part of the master´s thesis. Nevertheless, the crude oil also has an impact on the world economy and economies of single states. The third chapter analyses states, where the inhabitants live beyond means of people from other countries but these states are so depended on crude oil that if this trade stopped, these countries would go bankrupt. However, there are also exceptions. Even though, there are states that have huge sources of crude oil, they still have to deal with financial problems. The forth chapter characterizes the trade with crude oil of the Czech Republic because it is a net importer of crude oil and the last chapter focuses on new trends in crude oil such as shale oil and trading at a crude oil market.