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The Maastricht fiscal criteria, their formation and problems of fulfulment by countries of the Europen Union
Papáčková, Hana ; Izák, Vratislav (advisor) ; Klazar, Stanislav (referee)
The Bachelor thesis is focused on the description of the Maastricht criteria, and an analysis of the time period between 1995 to 2015. The work is divided into two chapters. The first chapter describes each of the Maastricht criteria and analyzes the fiscal criterion of sustainability of public debt in select EU Member States (Belgium, Czech Republic, Italy, Ireland, Germany and Greece) during this time, which includes the criteria of public debt and public deficit. The aim is to assess whether these fiscal criteria are met. The last chapter covers further regulatory measures of the Maastricht criteria, like the Stability and Growth Pact, the Euro Plus Pact and the fiscal compact, which addresses their shortcomings.
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Czech Retirement reform in politican programm
Vyšata, David ; Izák, Vratislav (advisor) ; Klazar, Stanislav (referee)
The pension systems in many countries since the 1990s have been facing a difficult situation due to population aging. Many countries had undergone necessary reforms, but in the Czech Republic this issue has been subject only to minor changes and neverending discussion. This Bachelor thesis analyses the differences between individual pension systems, their evolution in the Czech Republic and proposals of change by political parties. The main goal of this thesis is to compare the possible solutions and to review the second pillar of the pension system.
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Comparison of tax reforms during the financial and economic crisis in the old and new EU countries
Dubinová, Petra ; Izák, Vratislav (advisor) ; Klazar, Stanislav (referee)
This thesis deals with the comparison of tax reforms during the financial and economic crisis in the old and new EU countries. My main objective is to compare the reforms implemented in individual states during the financial and economic crisis and its impact on the tax quota and tax mix. The first part deals with the causes and development of the financial and economic crisis. In the second chapter is a description of the optimal tax system and history of the tax reforms. The final chapter describes the various changes and reforms in EU countries, the development of their tax quota, tax mix, the government expenditure to GDP ratio, the government debt to GDP ratio and the impact of certain changes to the amount of taxation on labor.
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The Influence of the State Debt on defense spending in Selected NATO States
Hodžic, Faris ; Izák, Vratislav (advisor) ; Ochrana, František (referee) ; Holcner, Vladan (referee)
The defense spending plays a significant role in the decision-making process of setting up a defense policy. The economy of a state, its performance and development rank among the main factors that influence the size of this public expenditure. At a time of economic stagnation in the Western European countries, the ongoing public debt crisis affects to a ever growing extent all areas of public spending, including the defense. This work aims to contribute to the current knowledge in the field of defense economy and public finance by investigating the influence of the state debt on defense spending. The first part of the work is dedicated to defining the economy of defense and providing a brief summary of its historical development, followed by a discussion of defense as a pure public good. This chapter analyzes the issue of public debt and explains how the major schools of economic theory approach this problem. The second part outlines the previous research in the field of defense spending and debt, their development and the potential relationship with macroeconomic variables. The third chapter presents and discusses the results of empirical research that is based on the theoretical assumptions and models introduced in the first two chapters. The analysis was performed on time series from the period of 1978 to 2011 (34 years) for seven NATO member states: Belgium, Denmark, France, Italy, Netherlands, UK and USA. The empirical analysis was performed by the statistical methods of regression and panel regression. The primary hypothesis on the existence of a relationship between the public debt and defense spending was confirmed and the partial hypothesis that this relationship is negative was refuted.
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Determinants of Social Expenditure Levels in the EU
Roženský, Vojtěch ; Ochrana, František (advisor) ; Izák, Vratislav (referee) ; Nemec, Juraj (referee)
The aim of the thesis is to identify the determiants of social expenditure levels in EU member states and estimate the sensitivities. The analysis is based on the fixed effects model with robust standard errors. Seven out of the 24 variables, that have been tested, are statistically significant. Social expenditure levels are positively dependent on population ageing, unemployment rate and economic level, and negatively on economic growth. The openness of economy and public debt ratio are also robust. The presence of a christian party in government is also statistically significant, however, the coefficient is not theoretically consistent. The sensitivity of social expenditure level to the share of population aged 65 years and over on the total population, is about 0,30. It means, that on average, the rise in the share of the old by 1 percentage point, is followed by the rise of social expenditure level by 0,3% of the GDP. In case of unemployment rate, economic growth and the openness of economy, the sensitivity estimates are 0,3, -0,1 and -0,03. The sensitivities to the other three robust variables cannot be quantified due to a strong dependence on the exact model specification or a bias, caused by extreme values. The expenditure on pensions are relatively more dependent on population ageing, whereas other social expenditure are more sensitive to current position in economic cycle. The determinants in the old and the new EU member states are similar, with only one exception, as the expenditure levels in the new member states are less dependent on demographic structure. The model explains international differences and the changes during the period between 1990 and 2010.
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Instruments for Private Higher Education Financing
Schmutzler, David ; Urbánek, Václav (advisor) ; Izák, Vratislav (referee) ; Nemec, Juraj (referee)
The main objective of the dissertation is to evaluate and compare higher education financing instruments in regard to their practical advantageousness. None of the publications covering higher education financing so far have dealt with the question of practicability and market acceptance of the different higher education financing instruments currently being offered. The author intended to close this gap, providing a practical analysis of the mode of operation as well as a thorough comparison of private higher education financing instruments in respect to their applicability.
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The Convergence Process in the EMU and the Fulfilment of Maastricht Criteria
Mecová, Markéta ; Izák, Vratislav (advisor) ; Blažek, Petr (referee)
The content of this bachelor thesis is the issue of meeting Maastricht criteria as well as presenting the view of Mundell's theory of Optimum currency areas. The work is divided into three chapters. In the first chapter, I generally describe and define the convergence criteria one by one and I also characterize the theory of Optimum currency areas. Some economists argue that the European Union's monetary area meets the conditions and could be considered as Optimum currency area. On the contrary, some economists use this theory and claim that European monetary area will never be able to meet those conditions. The second chapter of the thesis analyses the fulfilment of quantitative convergence criteria of chosen countries that have made a commitment to become a member of the European Monetary Union in the future. The third chapter summarizes fiscal criteria of all twenty-seven Member States of the European Union.
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Effect of transfer pricing regulation on permanent estabishment taxation
Jelínek, Michal ; Vančurová, Alena (advisor) ; Izák, Vratislav (referee) ; Vostatek, Jaroslav (referee)
This thesis deals with taxation of permanent establishments and effect of transfer pricing regulation on method of attribution taxable profit to permanent establishments. Firstly, the thesis describes reasons for creation of permanent establishments and analyses how international and local legislation approaches to taxation of their profits. It also examines methods of attribution taxable profit to permanent establishments. Finally, the thesis analyses whether it is possible to use publically available data for determining tax base of "dependent agent" permanent establishment. For this purposes the following methods were used: regression analysis, cluster analysis and logistic regression analysis.
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Extra-budgetary funds in the public finance system
Valtr, Jan ; Izák, Vratislav (advisor) ; Blažek, Petr (referee)
The presented diploma thesis discusses the framework of public extra-budgetary funds as an element of the system of public finance. Extra-budgetary funds inclusion to the system of public budgets and to the system of relations among them, as well as extra-budgetary funds institutional arrangement, the overview of their activities, the extra-budgetary funds economic results and especially impacts and consequences of all above appointed are extremely relevant topic in the period when increased attention to the stability and sustainability of public budget system is paid.
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