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Intertemporální růstová teorie a její empirická implikace
Goryainova, Anna ; Pošta, Vít (advisor) ; Pavelka, Tomáš (referee)
This academic work is based on remarkable works of economists Ramsey, Cass, Koopmans and Kaldor, it brings closer the intertemporal growth theory and its empirical implications on the Czech economy. Simply the purpose of this academic work is to analyse investment and its development in the Czech economy, theoretically identify and empirically study it. Furthermore, to monitor investments by different types and sectors. The study also is committing to better comprehension of mutual effects of capital formation and economic growth.
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Market efficiency and technical analysis on foreign exchange
Obergruber, Petr ; Pošta, Vít (advisor) ; Pikhart, Zdeněk (referee)
The dissertation name is: "Market efficiency and technical analysis on foreign exchange". The major goal is to explain the basic assumptions for technical analysis to be in operation and these assumptions are applied in the theory first for collecting general datas. Then these datas are applied on a historical datas. The dissertation divedes in 3 major parts. In the first one there is market efficiency in theory from few important economic experts. In the second part dissertation works with general knowledge of the technical analysis from efficient market hypothesis. The last part obtains general informations about foreign exchange called FOREX, it also contains the practical use of the technical analysis and their aplication on a diagram of the prices.
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Ocenění práva vybírat daně pomocí opčního modelu
Vlachý, Jan ; Hnilica, Jiří (advisor) ; Pošta, Vít (referee) ; Starý, Oldřich (referee) ; Málek, Jiří (referee)
This Thesis uses several forms of a single-period option-based model to analyze the incidence of income tax under uncertainty, focusing on the various effects of tax asymmetries and observing the distinct features of individual and corporate taxation. Two particular applications are being advanced. The one strives to establish the economic effects of tax-deductibility, motivated initially by a thin-capitalization measure brought forth under the framework of the recent Czech public-finance reform. The pother one compares the terms of three distinct personal income-tax schedules, as they have been recently applied in the Czech Republic and Slovakia, investigating particular issues such as tiered rates, mandatory minimum tax, bracket creep, social taxes, as well as tax incidence in general. On the whole, we find that option-based models are well suited for miscellaneous forms of economic analysis under dynamic assumptions, overcoming the inherent limitations of comparative statics routinely used by mainstream economics. We also conclude that the Czech tax reform of 2008 has failed to achieve the level of economic neutrality and simplicity, characteristical for the Slovak flat-tax schedule of 2004. There are cases, where it has actually contributed to the emergence of new asymmetries.
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Limits to the Efficiency of the Capital Market
Vyhlídka, Jan ; Pošta, Vít (advisor) ; Lopušník, Ondřej (referee)
The aim of this study is to gather insights into market efficiency and mechanisms that work in the financial markets. It provides a framework with an emphasis on liquidity and the failure of arbitrage that deepens our understanding of various financial crises. Described mechanisms are particularly relevant for the last financial crises - including 2007-2009, LTCM, and dot-com bubble. In the first chapter the concept of efficient markets is introduced. In the second chapter it is challenged from the point of view of noise trader theory and limits of arbitrage. The third chapter deals with market microstructure and liquidity. Last chapter shows importance and adverse effects of externalities, particularly of those causing liquidity spirals.
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Relations between macroeconomic indicators and indicators of enterprise performance: aplication on enterprise Alba - Metal s.r.o.
Klim, Michal ; Pošta, Vít (advisor) ; Nečadová, Marta (referee)
The bachelor thesis examines relations between macroeconomic indicators and indicators of enterprise performance. It specifically deals with performance indicators of enterprise Alba Metal s.r.o. This enterprise is a Czech and foreign car industry supplier. Regarding the ownership and management of the firm, I compare return on equity as the performance indicator with the fundamental macroeconomic indicators including balance of payments. The sample includes years from 2004 to 2009. This thesis analyses the economic situation in detail and is based on financial analysis of this enterprise. The source of macroeconomic indicators are public statistics of the Czech Statistical Office, Czech National Bank and OECD.
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Financial market of USA in years 2000-2010
Leitner, Tomáš ; Pošta, Vít (advisor) ; Hackl, Zbyněk (referee)
The aim of the bachelor work is to focus on the cause and process of financial crisis, its convertion from american hypothecary crisis to world-wide financial crisis, it deals with description of securitized tools and their role in financial system, shows situation on the estate market and also the situation on the market with repo.
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Institutional Framework of the Financial Market and Regulatory Issue
Jurošková, Lenka ; Pošta, Vít (advisor) ; Půlpánová, Stanislava (referee)
The first aim of this thesis is to tackle the deficiencies within the system of financial regulation. Furthermore, it aims to assess the submitted and even the already adopted proposals. The aims cannot be achieved without an analysis of the causes of the global financial crisis 2007-2009, because it helps to understand a range of deficiencies in the system of financial regulation. A global financial crisis of that magnitude cannot be traced to a single cause but was instead the result of multiple interconnected causes, which are examined at the macroeconomic as well as microeconomic level.
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The Czech Republic after the admission to the European Union - macroeconomic progress and international comparison
Kurka, Jan ; Nečadová, Marta (advisor) ; Pošta, Vít (referee)
The task of this thesis is to analyze macroeconomic situation in the Visegrád Group after the admission to the European Union in 2004. It focuses on comparison of chosen macroeconomic indicators. There is analyzed the effect of particular components on gross domestic product, other alternative indicators of GDP and macroeconomic equilibrium in the Czech Republic. The prediction of a progress of GDP is added according to several significant institutions. The last part deals with the results of an analysis of the Global Competitiveness Index in 2009/2010 with the focus on the Visegrád Group.
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The process of the nominal and real convergence in Czech Republic after entering European Union
Benedikovičová, Petra ; Nečadová, Marta (advisor) ; Pošta, Vít (referee)
The aim of the bachelor paper is the macroeconomic analysis of the nominal and real convergence of Czech Republic within EU-27. Is the economic and price level of the Czech Republic closer to the level of EU-27? To which extent did the entering of the Czech Republic influence its competitiveness? Does the Czech Republic fulfill the Maastricht Convergence Criteria? I will try to answer these questions with the help of the chosen indicators on the basis of the statistic data available from the Statistical Office of the European Commission Eurostat, national CSO, also according to the evaluation of the Global Competitiveness Report, which is published every year by the World Economic Forum and finally according to the document of the Ministry of Finance of the Czech Republic and the Czech National Bank, that has been evaluating the fulfillment of the Maastricht Convergence criteria from the year 2004.
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