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Basic Income, its features and implementation
Poštulková, Jitka ; Schneider, Ondřej (advisor) ; Vaško, Dan (referee)
This thesis introduces and analyzes the controversial topic of basic income, which have recently received increasing attention of academic, political as well as general community. Definition, origins and history of the theme, current BI discussion, possible alternative and practical implementations of BI are all summarized. The thesis also simulates potential effects of BI scheme adoption in the Czech Republic. Using detailed data on income distribution and estimates of labor elasticities, we estimated a tax rate on earned income that would be necessary to implement to make the BI scheme budget neutral. Our results suggest that such a rate would be much higher than the current compounded tax and social security contribution rates, rendering the BI concept impractical in the Czech Republic. JEL Classification H53, H61, I38 Keywords Basic Income, Social Security, Income Tax, Public Budget Author's e-mail jitka.postulkova@yahoo.com Supervisor's e-mail schneider@fsv.cuni.cz
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CEE & SEE Markets Macro-Fundamental Analysis
Poštulková, Jitka ; Polyák, Oliver (advisor) ; Cahlík, Tomáš (referee)
The aim of this thesis is to verify and analyse presumed relations between selected macro-fundamentals, namely USD exchange rate, production index, interbank offered rate, inflation, money supply and two exogenous indices ( Standard & Poor's 500 and EURO STOXX 50), and CEE (Austria, Czech Republic, Poland, Hungary) or SEE (Bulgaria, Croatia, Slovenia, Romania) financial markets over the period from December 1995 to December 2015. In order to test the long-run cointegration relationships between studied markets and the set of macroeconomic variables, the Engle-Granger and Johansen tests are applied. The vector error correction model is used to confirm the long-run equilibrium interlinkages and the results show similar trend tendencies between stock indices and some of the macro-fundamentals in Croatia, Czech Republic, Hungary, Poland and Romania. To verify the short-run causal linkages, the Granger causality test is employed. Based on retrieved findings, the efficiency of studied markets with respect to Efficient Market Theory is reviewed. Our findings reveal several pairwise short-run causal impacts between studied macroeconomic indicators and stock indices. The only indicator which does not impact any stock market is the interbank offered rate. Moreover, according to our results, all CEE&SEE stock...
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Basic Income, its features and implementation
Poštulková, Jitka ; Schneider, Ondřej (advisor) ; Vaško, Dan (referee)
This thesis introduces and analyzes the controversial topic of basic income, which have recently received increasing attention of academic, political as well as general community. Definition, origins and history of the theme, current BI discussion, possible alternative and practical implementations of BI are all summarized. The thesis also simulates potential effects of BI scheme adoption in the Czech Republic. Using detailed data on income distribution and estimates of labor elasticities, we estimated a tax rate on earned income that would be necessary to implement to make the BI scheme budget neutral. Our results suggest that such a rate would be much higher than the current compounded tax and social security contribution rates, rendering the BI concept impractical in the Czech Republic. JEL Classification H53, H61, I38 Keywords Basic Income, Social Security, Income Tax, Public Budget Author's e-mail jitka.postulkova@yahoo.com Supervisor's e-mail schneider@fsv.cuni.cz
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