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Fiscal policy and the business cycle in the Czech Republic
Jeřábek, Martin ; Ševčík, Miroslav (advisor) ; Řežábek, Pavel (referee)
This thesis deals with short-term relationship between fiscal policy and the real economy. Thesis is divided into three thematic units. In the first part through the analysis of studies examining the size of fiscal multipliers concludes, that depending on the assumptions and selected time period is the size of the multipliers greater in economic recessions, at zero interest rates of central banks or bigger taciturnity of the economy. The multipliers for the Czech Republic are low and did not exceed the value of one. The thesis also analyzes the development of public finances in the years 1997 - 2013 and identifies as their basic problem the structural nature of deficits. As a possible tool to improve the inclination of public finance to the budget deficits are identified fiscal rules limiting public spending. This rule is fully compatible with the Stability and Growth Pact and meets the basic requirements - the clarity and flexibility.
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Investment incentive for Hyundai Motor Manufacturing Czech s.r.o., with focus on unemployment
Strýček, Jakub ; Vostrovská, Zdenka (advisor) ; Ševčík, Miroslav (referee)
The bachelor thesis deals with fiscal efficiency of granted investment incentive, its impact on the labor market in terms of change in regional unemployment and its qualitative structure. The resulting inefficiency is a comparison of the values arised from the model which uses Ministry of Industry and Trade and the model that was created for the sole purpose of this work. This bachelor thesis meets its objectives by calculating the added value to the state budget by those who were employed by the incentive, in comparsion with the actual fiscal spending. We infer the efficiency by creating abstract situation, where incentive was not granted.
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Analysis of the PPP project in ensuring restrictive function of the state
Juříček, Petr ; Ševčík, Miroslav (advisor) ; Loužek, Marek (referee) ; Pastoráková, Erika (referee)
This dissertation examines the possibility of private sector involvement in financing the Czech prison system. In the Western World, this form of provision has now become common practice. The paper explores the possibilities of both full and partial participation of the private sector in the provision of one of the restrictive services that in the Czech Republic are delivered exclusively by the state. The theoretical section discusses different alternatives regarding the financial provision through public-private partnerships (PPP projects). These are viewed as part of a wider and comprehensive area of public contracting. Due to the absence of this form of provision in the Czech Republic, all information regarding this alternative has been sourced from foreign prison systems where private forms of prison service have a long tradition (e.g. the concept of privatization by Charles Logan). The findings are then applied and compared with the foundations of the Czech prison system (whose primary role is security and specialist provision) with respect to the economic efficiency of the whole system. A case study is presented which outlines different projections regarding operating costs in a sample of three American prisons with the aim to compare the estimated and real costs depending on the form of provision, i.e. by state or through private management. The research section of the dissertation uses data from the Feasibility study of building a private prison in the Czech Republic. Using calculated values, CBA analysis is employed to evaluate three possible alternatives of financing the construction of a private prison. To evaluate the costs, the following methods were used: the Public Sector Comparator, the DBFO model (Design -- Build -- Finance -- Organize) and the BOT model (Build -- Organize -- Transfer) which primarily utilizes the work potential of prisoners in relation to the increase of return on investment in penitentiary provision. The results of the BOT model showed that the mere existence of participation of a private partner in the Czech prison system can be beneficial as it introduces an important element of competition and basic principles of market economy into the system. However, greater efficiency can only be achieved provided that a more efficient system of settlement of outstanding debts of prisoners is employed. This requires a more sophisticated policy for employing prisoners.
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Relation between central bank independence and accountability by an example of Fed and Czech National Bank
Hýblová, Monika ; Ševčík, Miroslav (advisor) ; Řežábek, Pavel (referee)
This paper compares economical and political independence to a success rate of monetary policy of national banks, on a case of Fed and the Czech National Bank. Based on my definition of independence and accountability based on literature, I show that price stability defined as a main goal is the key factor. If the goal consists of more indicators, there is space for political pressure and the success rate decreases. Some rate of independence is necessary in order to achieve a healthy economy, however, total independence cannot be the target. Accountability then works towards independence as a system of achieving legitimacy, not as a substitute. Public inflation aversion is also considered as an important factor for achieving price stability.
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The costs of Czech public budgets resulting from the study of Slovak nationals at public universities in the Czech Republic
Ondruška, Pavel ; Ševčík, Miroslav (advisor) ; Brabec, Petr (referee)
The aim of this diploma work is to find out the effectiveness of providing free-of-charge tertiary education to citizens of the Slovak Republic at Czech public universities. In the theoretical part, I will focus on researching motives of Slovak citizens to study in the Czech Republic from the point of view of theory regarding the expansion of human capital and the return on investment into education, as well as utilizing a questionnaire to research the preference in selecting schools outside Slovakia. Furthermore, I focus on the system of financing public universities in the Czech Republic. In the Czech Republic, students are provided with free-of-charge university education, if they complete the graduation examination from the Czech language or if they have another, officially verified, examination from the Czech language. As a result of the mutual agreement between both countries, citizens of the Slovak Republic have an exception negotiated in law 111/1998 Coll. about universities. The practical part focuses on calculating the costs to the public budget for the study of Slovak citizens as well as calculating the benefits, if they decide to work in the Czech Republic. The analysis arises from data of the MŠMT (Ministry of Education, Youth and Physical Education) and the ČSÚ (Czech Statistics Bureau) regarding the number of foreigners at universities as well as the system of financing universities from the statistics of the largest Czech universities, which I have obtained. From the collected data, I find out the representation of Slovak citizens in the individual years. I also attempt to calculate and generalize the approximate number of students, who completed their studies. I calculate the costs based on the individual years, where every student has a fixed sum in the given year, which the public budget incurs for him. I use these cohorts to calculate the benefits, which are divided based on the years and by means of the wage discount method, I find out the approximate amount of tax paid for the time period in which the Slovak citizens work in the Czech Republic.
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Cost - benefit analysis of Biathlon World Championships 2013
Pavouková, Adéla ; Novotný, Jiří (advisor) ; Ševčík, Miroslav (referee)
This thesis covers the implementation of ex post cost-benefit analysis (CBA) applied to specific sport event in the Czech Republic, specifically Biathlon World Championships, which was held in Nové Město na Moravě in 2013. The results of determinative criterion indicators reliably exceeded the required values, investment project can be considered as economically feasible. Concurrently the event has generated positive cash flow therefore we can talk about the feasibility of the project. Overall, the project can be recommended for realization, because brings more benefits than costs to interested parties.
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Comparison and changes in the structure and funding of sporting activities from public resources in the Czech Republic in the period 2005-2014
Rákosníková, Lenka ; Ševčík, Miroslav (advisor) ; Vebrová, Ludmila (referee)
Thesis is focused on the analysis of the financing of sport in the Czech Republic from public resources in the period between 2005-2014. It describes the legislative changes that have influenced the sport financing options specifically emphasis is on the amendment to Act no. 202/1990., On lotteries and other similar games. Expenditures of the state budget, lottery companies and government spending on sport and physical education are analyzed individually as well in the context of the change in legislation. Municipal budgets are the most important of public resources. Selected sample is subjected to detailed analysis, examines the total expenditure on sport in absolute terms, as well as their share on total expenditure. With regard to the hypothesis of the work ratio of spending on sport on income from gambling and lotteries is important. In the period 2005-2014 for the sample of municipalities was found that in 88.2 % of them, where income from gambling existed before r. 2012, after the amendment of the law reduced the ratio between income from gambling and providing support to the sport. Therefore there is no redistribution of income in favor of sport and physical education. Thesis presents actual insight into funding of sport in the context of legislation changes and its implications.
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Economic sanctions imposed on Russian Federation in 2014 and their midterm and longterm impacts on the political-economic relationships with the Czech Republic
Michálková, Markéta ; Ševčík, Miroslav (advisor) ; Dyba, Karel (referee)
In 2014 The Russian Federation has become, according to The Ukraine Crisis, an object of the economic sanctions implement ion. The aim of this thesis is the analysis of impacts of the sanctions based on the theoretical prepositions and historical examples from praxis. The first part of the thesis describes the theoretical basis, history of sanction restrictions and their implementation by OSN and EU. The second part of the thesis is focused on the real-life examples of the implementation of the economic sanctions. The detailed analysis of the Russian case is followed by the evaluation of the impacts on international, political and trade relations with The European Union and the Czech Republic. Then the formed and future cost for The Russian Federation, European Union and The Czech Republic are evaluated as well.
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Economic development of sports clubs in the years 2006 - 2014 in the United Kingdom in context with the economic cycle
Urbánek, Jakub ; Ševčík, Miroslav (advisor) ; Novotný, Jiří (referee)
The main aim of this thesis is to verify whether the economic cycles have an impact on the economic situation of professional football clubs in the United Kingdom. The reference period are the years 2006 to 2014, which include the recent economic crisis. In the theoretical part, sports club are defined as a firm in accordance with behavioral theory which was selected as the most suitable. Analyzed are the specifics of functioning of sports clubs, such as the method of determining the club's goals. These are among sports clubs, unlike conventional businesses, based on the principle of utility maximization. Furthermore, sporting markets are described, and considered a sports cartel. Described are also different ways of financing of sports clubs, and as the most important nowadays are chosen: gate receipts, broadcasting revenues and sponsorship. As the part of the thesis, the substantial positive effects of analyzed Premier League on the British society is described. These include big tax revenues for the government of United Kingdom. In the 2013, those tax revenues reached 1.3 billion pounds. The practical part of the thesis characterizes Premier League, and subsequently also the selected football clubs, and especially their economic development in the reference period. The data obtained are then coupled with the economic development of United Kingdom. Data reveal that neither club revenues, nor expenses were affected by the economic crisis. Similarly, there was not registered any effect of the crisis on the wages of the clubs employees, nor on the number of staff employed by the clubs.
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