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Current problems of the monetary policy in the world
Houštecký, Martin ; Plchová, Božena (advisor) ; Čajka, Radek (referee)
This master thesis deals with current monetary policy in the world. The monetary policy belongs to the basic components of the economy and the economic policy. In today`s world economy, still recovering from the recent financial and economic crisis, many people look up to the monetary policy as a possible remedy for standstill economy. At first, this thesis presents standard monetary policy. Then, the analysis of the current monetary policy in the centres of the world economy, which means the USA, Europe and Japan, is carried out. From the analysis the main problems of current monetary policy emerge and then new tools and solutions implemented by various central banks for the purpose of solving these problems are analysed. At the end other possibilities of the monetary policy are presented in theory.
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The Evolution of Europan Unification in Coherence and Context of the Financial Crisis
Ehl, Adam ; Blahová, Naděžda (advisor) ; Brada, Jaroslav (referee)
Bachelor thesis "The evolution of europan unification in coherence and context of the financial crisis" is aimed at research of uncommon aspects in area of market bubble bursts. From the base of disregarded history facts, thesis aspires to reveal errors caused in the past and whether there is a possiblity to identfy its' momental consequence in Europan integration process. Whole thesis is diveded into three chapters, wheras every chapter contains theoretical and practical look. Theoretical principle explains the development of money systems, terms associated to crisis and describes the evolvement of integration process. Practical part is devoted to commentary of causes and effects in relation to ancient crisis, while it equates findings for comparation to the actual one. Discovery beneath forming the Europan Union are also survey.
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Private finance and public policy
Schinasi, Garry J.
This paper articulates a logical foundation—drawn from disparate literatures—for understanding why safeguarding financial stability is an important economic policy objective. The paper also explains why private aspects of finance provide broader social economic benefits and have the characteristics of public goods. Unique aspects of finance are examined, as are the linkages between finance, money, and the real economy.
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Czech banknotes: counterfeiting and protective elements
Zajícová, Martina ; Žák, Květoslav (advisor) ; Pithart, Martin (referee)
The chapter, which should bring a basic overview about money and its counterfeiting, is called "Money". With usage of theoretical and empirical money definitions I introduced money and its historical development in the world and also in Czech countries. The last part of this chapter explains money circulation in economics. The third chapter is about counterfeiting development and about punishments which threatened to people if they were accused of counterfeiting. We can find a lot of concrete examples of fake money in Czech Republic and a story about a nazi camp Sachsenhausen, where Hilter and its soldiers were forcing Jewish prisoner to make fake British pounds and American dollars. The next chapter contains individual protective elements which can be found on Czech and world banknotes. The practical part begins with a chapter which shows pictures of Czech banknotes with the placement of protective elements. The analysis of the current situation in the field of money counterfeiting was done in chapter No 6 (the analysis is a main goal of this thesis). The following chapter brings information about a survey (it was done in February and March 2012 among Czech public) -- initial hypothesis, evaluation and dependencies could be found there. All my proposal and initiatives which can improve the current situation are stated in the closing chapter together with a summary of the thesis practical part.
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Money, Time and Information: An Austrian Approach
Nohejl, Jiří ; Koderová, Jitka (advisor) ; Plíva, Rostislav (referee)
Thesis "Money, Time and Information: An Austrian Approach" presents analysis on theory of money through classic view of Austrian economics which is combined with mutual dependence of system complexity, time and information. Money are considered as market emergent phenomena and therefore as its basic element. Spontaneous processes leads into origin of complex economic structures which are not static, but in constant evolution. Emerging complexity makes reduction of economic phenomena to aggregates or index numbers impossible. It is therefore important to comprehend these problems in context of structure and time in which structural change come into existence. This thesis emphasizes relation of money to informational and intertemporal role of prices and interest rate. This approach is then applied to possibility of monetary and regulatory policy to perceive all those complex interdependencies.
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Debts of citizens and their consequences
Kristejnová, Veronika ; Smrčka, Luboš (advisor) ; Zámečník, Petr (referee)
This thesis is concerned how people can handle with their finances with a focus on the use of credit products, debts and the potential impact of debts. Consequences of default are efforts of creditors to get money back, whether through specialized companies or judicial executor. The thesis deals with enforcement proceedings and then with insolvency proceedings. So what are possible solutions of debtor's situation if debtor is unable to pay his obligations. Bankruptcy and debt relief is described. There is also a survey that examines people's attitudes to manage their money, to advertisement for credits, whether people borrow money and have repayment problems. In conclusion there is recommendation how to repay your debts, how to deal with debt responsibility, and there is also a very discussed topic about financial literacy.
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The causes of the current economic crisis and its impact on the world economy
Rýdl, Filip ; Jílek, Josef (advisor) ; Mládek, Josef (referee)
The work seeks to analyze the causes and impacts of the current financial crisis. It deals with the theoretical view and definition of financial crisis, along with a brief historical excursion. A significant part of the work is devoted to describe the financial crisis in the United States and in selected, economically important, countries. In the context of the causes of and solutions to the current crisis period are remembered views of different economic schools, which are very different. A significant part is devoted to the description of institutional architecture and function of the financial system. Important part is the description of the functioning of lending money (such interest and regulatory policy), because the author sees in it a long series of "unhealthy" factors, which helped the emergence of a financial crisis. The aim of this work is to give a komplete, non-ideological coloring, look at the biggest financial crisis in modern history.
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The Endogenous Supply of Money. Some Theoretical Implications
Mittner, Jiří ; Jílek, Josef (advisor) ; Chytil, Zdeněk (referee) ; Koderová, Jitka (referee) ; Sedláček, Petr (referee)
This thesis concentrates on the topic of the endogenous supply of money. It describes the basic shapes of the endogenous money theory and analyzes the causes of usual misunderstandings about the nature and behavior of money. We outline the important difference between asset-based and liability-based understanding of money and conclude that although both principles are theoretically applicable, the liability-based approach matches the major volume of real economic transactions. The liability-approach, which we conclude to be more appropriate way of understanding money, leads back to the topic of money endogeneity. We go over to the development of the ideas of endogenous supply of money as they appear over the second half of the 20th century and depict the major contributions in this area. We reference also the Czech academic research and comment the most relevant works. In the second part, the thesis concentrates on two theoretical areas analyzing the impacts of the money endogeneity. We point out at fundamental controversies in the concept of deposit multiplication concluding it to be an unrealistic process in a credit based economy. We conclude that the stock of money is not a directly controllable aggregate, especially not by means of the money base. The other area is the theory of capital and the foundation of the return on capital. We recall the Keynesian topic of the euthanasia of the rentier, develop the microeconomical foundation of the accumulation of capital and conclude that the zeroizing of the interest rate is feasible in a long-run. In the third part we go over to economic history and schools of economic thinking confronting them with the theory of endogenous supply of money. We concentrate on the notorious Smithian criticism of the mercantile doctrine finding the criticism not fully sustainable if we consider the varying nature of money over the medieval period. We analyze the available statistical data of medieval England concluding that the stock of monetary metals had a direct influence on the economic activity of England in the pre-Smithian era thus referencing to a strongly exogenous character of money, while there is no such relation afterwards, when money was becoming more endogenous. We put a next emphasis on the Austrian theory of money, which in many aspects is at variance with the endogenous money theory. We analyze both views on the money circulation and add new comments to the discussion on the foundation of the return on capital. We draw attention to the Mises' idea of Zirkulationskredit (circulation credit) concluding that this concept comes in fact to a common understanding of the money behavior along with the endogenous money approach. We conclude with finding that the theory of endogenous supply of money is a fundamental economical concept with impacts on almost all other branches of economics. This thesis thus contributes to a larger adoption of the endogenous money theory in the economical research on the theoretical as well as on the practical level. Concerning the practical area, the primary interest in adoption of this theory in contemporary macroeconomics is indeed concentrated on the suggestion for economic policy after the 2008 subprime crisis and we extend this thesis also by concluding notes in this issue.
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Illegal trades and their regulation in selected countries
Ficik, Jozef ; Veselá, Jitka (advisor)
This thesis deals with two of very common and wide-spreaded kinds of illegal trades the world is forced to face recently- money laundering and insider trading. It includes their basic description and internal relations and describes the most common criminal cases from this illegal spheres. Thereinafter it focuses on the situation around money laundering and insider trading in Slovakia and Czech Republic, compares corresponding legislation of these countries and describes some money laundering cases and insider trading cases.
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