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Analysis of the balance of pension system since 1993
Švácha, Jan ; Slintáková, Barbora (advisor) ; Roženský, Vojtěch (referee)
This thesis deals with the pension system, specifically the causes of its annual surpluses or deficits from the beginning of the existence of insurance premium, ie since 1993. In addition to identifying and characterising these causes, the thesis seeks answers to questions about their quantification or, in other words, how big was the impact of these factors on the particular balance of the pension system each year.
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Public debt of the Czech Republic
Krajíček, Vojtěch ; Izák, Vratislav (advisor) ; Blažek, Petr (referee)
This bachelor thesis deals with the public debt of the Czech republic. In the introductory (theoretical) part, the public debt is set into a sphere of Czech public's finances, followed by its complete analysis which can be also understood as a basic summary of the existing theoretical knowledge. After the coverage of basic theoretical aspects, there follows the second (practical) part which includes i.a. the main object of this thesis, formulated by a hypothesis whether the rising of our public debt may lead to national bankruptcy. This examination is based on an analysis of the main causes of problems in countries which have recently been directly threatened by national bankruptcy. The identified causes are then confronted with the current economic reality in Czech republic. For achieving the main aim of this thesis, there should also help the partial aims focusing on the formation and development of our public debt, then on the quantification of the costs of its operation and the following comparison in terms of the EU. The method used for this achievement is going to be a combination of theoretical study of professional literature and empirical analysis in the application of scientific procedures of description and comparison.
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Interpetation of Information - Specific case study
Pithart, Josef ; Toman, Prokop (advisor) ; Sigmund, Tomáš (referee)
This thesis focuses on the interpretation of information on the state budget deficit of the Czech Republic and the national debt from 2000 to 2008. Explores ways of interpreting by official institutions, namely the Czech Statistical Office and The Ministry of Finance of the Czech Republic, then the interpretation of the representatives of political parties and last, journalists and analysts. This thesis aims to compare different interpretations of, the above mentioned entities, and refer to completely different interpretations of the same possibilities of quantitative data. Way of achieving the goals of this work is to analyze of published information on the state budget deficit of the Czech Statistical Office, and then to compar with the data used in their analysis of selected representatives of political parties, journalists and analysts. Contribution to the work of interpretations about the development of the state budget deficit is to highlight the fact that, despite the same initial quantitative data, the interpretation of different entities differs vastly. Another contribution of this work is to identify the causes of these differing interpretations, and enable them to defend the dubious interpretations.
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Public Finance Reform in the Czech Republic
Pešek, Radim ; Dvořák, Pavel (advisor) ; Lešetický, Ondřej (referee)
This work describes the development of volume and structure of czech agencies of government sector expenditure side, the development of budget balance and a public debt. It judges the fulfilment of Maastricht's criteria necessary for the acceptance of common europian currency. The work also describes and scans two reforms in public finance in the Czech Republic. The proposals for solving the problems in czech public finance are introduced at the close of the work.
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Economic policies practised by Ronald Reagan in the USA
Bureš, Vladimír ; Antoš, Ondřej (advisor) ; Urban, Luděk (referee)
This work analyses the economic policies applied by President Ronald Reagan in the 1980s in the United States of America. At first it deals with the characteristics of the main economic approach used in the 1970s and the reasons for its failure. Further it describes personality, political beginnings and the preferred economic direction of Reagan. Following this is the main part of the work, which concerns the characteristics of the most important areas of Reagan's unique economic policy. Remarks on foreign policy are also present. In the end the work examines and analyses the impacts of Reagan's policies on chosen economic indicators, in comparison with those that occurred under other American Presidents. It also presents the opinions of notable economists regarding Reagan's economic policies.
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Public debt management
Votava, Libor ; Dvořák, Pavel (advisor) ; Mandel, Martin (referee) ; Vítek, Leoš (referee)
Chronic imbalance between government revenues and expenditures was the main cause of growing public debt in many economies. In economic theory we can find some other arguments that justify deficit financing of government expenditures or public debt. We can mention these arguments -- in some situations (for example natural disaster) government borrowing from other subjects is very prompt and operative way how to gain additional money and seems to be better than other ways (for example better than increase of taxation), government bonds and securities can be very attractive instrument where economic subjects allocate savings and improve liquidity of secondary markets or can be used for monetary policy. On the other hand many arguments against budget deficit and public debt are in theory described and analyzed -- negative affects in savings allocation (crowding-out affect), cost of debt service limits active fiscal policy, debt burden is shifted to other generations, government expenditures from debt financing can negatively effect macroeconomic stability. In theory and in practical policy is public debt and its effects on economy relatively complicated and controversial topic and we can analyze its from economic, technical and political point of view. It results also from the fact that there are many different debt instruments which can be used to finance the budget deficit. A main distinction is the currency of denomination, and, in particular, whether or not is the domestic currency. Another important characteristics is the initial term to maturity, which among marketable instrument may range from few weeks to 30 years. A policymaker may rely on marketable securities, as well as on loans from financial institutions and on savings bonds sold to personal investors. Which instruments policy makers choose depends on the objective they pursue as well as on the circumstances in which the choice is made. Debt management we can define as the process of establishing and executing a strategy for managing the government's debt in order to raise the required amount of funding, achieve its risk and cost objectives, and to meet any other sovereign debt management goals the government may have set, such as developing and maintaining an efficient market for government securities. The objective of debt management policy is to minimize over the long term the cost of meeting the government's financing needs, taking account of risk connecting with debt portfolio. Application of debt management in real economy covers for example these specific issues: Debt management objectives and strategy, coordination with fiscal and monetary policy, allocation of responsibilities and objectives among institutions and authorities dealing with debt management, transparency to public, institutional framework, technical and information base. Importance of public debt management results from facts that high levels of public debt are a common feature of modern economies. It is possible to suppose that debt management is going to be very actual issue in the Czech Republic in near future for these reasons -- Czech Republic is small and open economy (we can consider it to be emerging market), during last several years public debt in Czech Republic have been growing rapidly not only in absolute volume but also as GDP ratio, there is a permanent danger that financial and economic shocks in international economy combined with inappropriate fiscal and monetary policy can have negative or in extreme case fatal impact on many people living in the Czech Republic. Dissertation "Public debt Management" primary focused on these issues and problems: Basic theoretical points concerning fiscal policy, deficit and public (government) debt -- methodology of measuring debt, influence debt on economy, risks connecting with public (government) debt Arguments for and against deficit and debt Public debt management -- general recommendations of International Monetary Fund Practice as for the public debt management in some countries -- USA, Sweden, countries of Euro-area Situation as for the public debt in Czech Republic Public debt management in Czech Republic -- historic development, goals and criteria set and used presently, analyze of risks that public debt management deals with, risk management applied in Czech republic, evaluation public debt management in Czech republic -- confrontation with recommendations of International Monetary Fund Analyze of impact of financial crises on process of public debt management in Czech republic Some arrangements concerning directly or indirectly public dept management in Czech Republic are recommended and analyzed. These recommendations are: Implementation of "inflation-linked" bonds Increasing portion of debt denominated in euro currency Prolongation of calendar of emissions Improvement of intelligibility of documents named "Strategie" that should declare and explain principles of public debt management in Czech republic Creation and implementation of special law destined for public debt management
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Struktura veřejného dluhu v České republice
Svobodová, Eva ; Urbánek, Václav (advisor)
Bakalářská práce je zaměřena na problematiku veřejného dluhu. Obsahuje tři kapitoly. První - členění veřejného dluhu, metodika vykazování a jeho struktura. Druhá - vývoj státního dluhu, jeho řízení a možnosti financování státního dluhu. Státní dluh je financován domácími cennými papíry, přímými úvěry a emisí zahraničních dluhopisů. Třetí - příčiny stále rostoucího zadlužení, zejména deficitní hospodaření, vysoký podíl mandatorních výdajů a stále se zvyšující náklady státního dluhu.
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Deficits which are emerged from influence of the pre-eliction political effort in the Czech Republic
Josková, Kamila ; Kapinusová, Jana (advisor) ; Loužek, Marek (referee)
Ve své práci jsem se zaměřila na problematiku deficitů v ČR. Na základě teoretických poznatků se pokusím vysvětlit chování a rozhodování politiků v závislosti na volebním období a také vysvětlit obecné zákonitosti deficitů. Na základě analýzy vývoje deficitů státního rozpočtu během volebního období 2003-2006 se pokusím zjistit, zda-li je v ČR zřejmý vliv politické touhy po moci na vzniklé deficity a také nalézt odpověď, zda-li existuje souvislost mezi objemem schválených finančních prostředků pro jednotlivé výdajové kapitoly státního rozpočtu a průběhem volebního cyklu se zohledněním priorit jednotlivých politických stran.
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Příspěvek ke studiu hospodářského vývoje Chile za vlády S. Allendeho a A. Pinocheta
Krejčová, Adéla ; Ševčík, Miroslav (advisor) ; Soukup, Jaromír (referee)
Cílém této diplomové práce bude komparační analýza politického, hospodářského a sociálního vývoje Chile za vlády socialistů na počátku 70. let 20. století a za vlády vojenského režimu generála A. Pinocheta. Cílem bude rovněž analýza politických a ekonomických příčin státního převratu v roce 1973 a analýza komplexní přeměny hospodářské politiky běhěm autoritativního režimu A. Pinocheta. Závěrečná kapitola bude věnována srovnání stavu chilského hospodářství na počátku 70. let a stavu v průběhu 80. let 20. století.
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The current position of US in the world and its future
Fiala, Jan ; Jeníček, Vladimír (advisor) ; Jelínek, Jiří (referee)
Práce se soustředí na současný vývoj USA se zaměřením na jeho postavení spíše z hlediska toho, co toto postavení určuje, co stojí v pozadí za dosaženým úspěchem a co pomáhá získáné postavení udržet, popřípadě co ho ohrožuje. V první části jsou nastíněny základní charakteristiky USA pomocí vybraných ukazatelů. Následně práce rozebírá aktuální vývoj v USA, především dopady hypotéční a úvěrové krize a možný nástup recese. Druhá část je těžištěm této práce, popisuje a hodnotí faktory, které dle mého názoru, nejvíce přispěly k získání dominatní pozice USA, a zároveň ovlivňují a určují současné postavení. Prvním faktorem je dolar. S tématem dolaru jsou spjaty další dvě problémové oblasti USA ? mohutné zadlužení a deficit obchodní bilance, které budou krátce rozebrány. Třetím faktorem je vojenská dominance a politické postavení USA. Posledním analyzovaným tématem je technologická vyspělost, zdroj hospodářského růstu a vztrůstající životní úrovně.
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