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Czech disinflation and gross domestic product
Izák, Vratislav
The paper characterizes the main features of the czech macroeconomic development in the time period 1995:1 - 1999:3 stressing the decrease in nominal GDP growth especially in 1999. It discusses the analytical framework being able theoretically explain the Czech macroeconomic story. The dynamic model for an open economy with government sector has been constructed and several simulation exercises imitating Czech macroeconomic development have been made.
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Tax revenues of post-socialist EU member countries
Tychnová, Michala ; Izák, Vratislav (advisor) ; Blažek, Petr (referee)
The subject of this thesis is the analysis of tax revenue of the post-socialist countries that are members of the European Union. In the theoretical part there are characterized tax systems of individual states. In the practical part I compare the tax revenues of the post-socialist countries. I analyze the tax quota, the tax mix and budgetary determination of taxes. Furthermore, I compare the tax revenues of the post-socialist member states and 15 original member states of the European Union. I focus on the tax quota, the tax mix and budgetary determination of taxes. From the analyses it is clear that the tax quota of the post-socialist countries is lower than in the older Member States of the European Union. Most of the tax revenue of the post-socialist countries stems from indirect taxation, particularly value added tax.
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Daňový systém Spojených států
Mikhalkina, Ekaterina ; Izák, Vratislav (advisor) ; Blažek, Petr (referee)
The content of this thesis is the evaluation of the United States' tax system. The paper describes particular taxes, its influence on the government budget and the tax policy in the states. The work includes an international comparison of various tax systems among OECD countries, Japan and the U.S. The first part observes general economic indicators of the U.S. The second part describes the historical development of particular taxes since the U.S. Declaration of Independence. The third part is dedicated to tax legislation, description of main taxes, its structures and concepts where all taxes are divided for the simplicity into direct, indirect, property and others taxes. The next part reflects framework for tax analysis. And the last part of the thesis consists of basic comparison between the United States, Japan and OECD counties. The analysis in the last chapter is applicable for the last decade. The conclusion presents main results of analysis and description performed in the work.
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Human capital as a determinant of economic growth
Kubík, Rudolf ; Urbánek, Václav (advisor) ; Izák, Vratislav (referee) ; Vomáčková, Helena (referee)
Research of the relationship between human capital and economic growth has been significantly developing since 1960s'. This thesis aims to contribute to the topic of human capital, map its importance in the theoretical and empirical economics and examine the influence on macroeconomic growth. In most of the countries human capital and education are budgeted mainly from the public resources thus is the human capital theory important for the public sector as well. First part of the thesis presents the main growth models and its evolution concerning also the human capital. In the second part there is a summary of the most important empirical literature. In the third part I present and comment the results of the empirical analyses. The benchmark data panel covers 92 countries within years 1960-2005. The method of analyses is panel data regression. The primary finding of the thesis is confirmation of the positive influence that human capital has on the economic growth. Third part also tests the most adequate proxy of the human capital. The quality of the human capital as well as the link between quantity and quality are also reflected in the regression analyses.
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Public debt in United Kingdom
Kobulský, Matej ; Izák, Vratislav (advisor) ; Klazar, Stanislav (referee)
The final thesis deals with public debt in United Kingdom. Its goal is to describe substance of the issue indebtedness of governments and so concretely on example of United Kingdom. Theoretical part of the work is devoted to definition of basic terms and theory, which will be used further in the text and also deals with history of indebtness itself, which has roots in UK. In the practical part the situation of debs in UK is described based on real data and review learned knowledge with prediction of possible scenarios to the future.
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The impact of demographic changes on the real interest rate and international capital flows.
Dybczak, Kamil ; Kodera, Jan (advisor) ; Izák, Vratislav (referee) ; Šmídková, Kateřina (referee)
The demographic structure seems to change dramatically over the next 50 years in the Czech Republic. The aim of this study is to assess the impact of expected demographic changes on the future development of a real interest rate and international capital flows. In order to simulate the impact of the expected demographic changes upon the mentioned variables we apply a computable overlapping generations model. The real interest rate development is simulated under a closed economy assumption. As a result of the future expected demographic changes labour-capital ratio tends to fall, i.e. the real interest rate diminishes. The range of a change is significantly affected by a public budget closure rule. In case of an endogenous income tax rate, the real interest rate falls down by 0.5 percentage point. On the contrary, the real interest rate decreases by almost 1 percentage point in case when public transfers adjusted. Assuming an open economy, we simulate the impact of the expected demographic changes on the international capital flows between the domestic economy and the rest of the world. In case of increasing ratio of older agents, the aggregate domestic wealth surpasses the demand for capital by domestic firms. As a result a part of domestic capital is exported abroad. Increasing level of net foreign assets contributes to positive change in ratio of the balance of payment to the domestic production in a range from 2 to 5 percentage points over next 40 years if income taxes or public transfers change respectively.
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Socio-economic aspects in the programs of the parliamentary political parties
Bandasová, Jana ; Izák, Vratislav (advisor) ; Blažek, Petr (referee)
This bachelor work deals with socio-economic aspects of the parliamentary political parties before elections to the Parliament of the Czech Republic in June 2010. Based on the analysis of selected socio-economic aspects was carried out the comparison of these aspects, both in the relationship between the parties of the right political spectrum and left political spectrum. In this work were used structural elements of Public Choice Theory, focusing on the median voter. Delimitation of the definition of the median voter results from public choice theory. Through the identification and classification into a specific position in the political spectrum was made an attempt at the practical application of Public Choice Theory. Based on the available data and information this attempt can be considered certain objective findings.
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State debt of the Czech Republic
Blažková, Gabriela ; Izák, Vratislav (advisor) ; Blažek, Petr (referee)
This bachelor thesis deals with the state debt and it is divided into two parts. The first chapter includes differences between state and public debt, way of debt financing or methods of its measurement. The development of czech state debt is described at the end of this chapter. The second chapter treats of upcoming pension reform, there are introduced current characteristics of pension system and its upcoming changes. The aim of this thesis is to find out the impact of reform measures on the state debt. The end of second chapter deals with public attitudes to the pension reform.
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Pension reform and its aspects in the electoral programs of czech parliamentary parties
Pintér, Ivan ; Izák, Vratislav (advisor) ; Pavlisová, Miroslava (referee)
The main theme of this Bachelor thesis is an analyse of the electoral programs of czech parliamentary parties with emphasis on pension reform. The goal of this work is to observe different views on pension reform across the political spectrum. Firstly the work determinates the possibilities of pension system funding and its current state in the Czech republic. Then the plans of pension reform from parliamentary political parties from 2004-2011 are presented. In the end the work describes the current situation of pension reform in 2011.
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