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Legal regulation of the system of private pension funds
Kraftová, Kateřina ; Kohajda, Michael (referee) ; Kotáb, Petr (advisor)
Legal regulation of pension supplementary insurance funds system The need of a rapid and comprehensive reforming of the pension systems is increasingly acknowledged by individuals and politicians in most countries. The reform of the pension systems is need for fiscal, economic and social reasons. The purpose is not to burden the state budget with the payment of pensions and while each provide the same standard of living after retirement. Therefore it is necessary to find an ideal retirement system for each individual state. The aim of this thesis is to highlight that a multi-pillar system is an ideal approach to deal with diverse fiscal and social reform. Chapter Two is introductory and focuses on base importance of additional pension insurance. The Second chapter describes the basic types of (all) pension systems. A comparison of the two system, that are most frequently appearing. Chapter Third contains the characteristic of the current pension system in the Czech Republic. The current pension system in the Czech Republic consists of two pillars of national mandatory pension insurance and voluntary private pension schemes. State pension pillar is based on continuous funding system (pay-as-you-go system), and Private pillar is based on the funded scheme financing. A current state pension system is...
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The Czech National Bank, its legal status and scope of activities
Špringerová, Zuzana ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
The Czech National Bank The Czech National Bank has an irreplaceable position in Czech financial department and no current economics would exist without such an entity. Mainly because of the exceptional character of the Czech National Bank not only for our economy, I chose it as the essential theme of my thesis. The aim of this thesis is to acquaint potential readers with the tasks performer by the central bank in the Czech Republic and thus give a complete picture of its contribution to our current economy. My thesis is divided into three parts. Introduction (i.e. chapters 1 a 2) focuses on the actual status of the Czech National Bank in relation to other constitutional authorities, especially to the government and to the president of the Republic, who have the closest relationship with the central bank, and also on its structure. Then the particular attention is paid to the supreme governing body of the Czech National Bank - The Bank Board consisting of the CNB Governor, two Vice-Governors and four Chief Executive Directors. At the beginning of the second part of my thesis (chapter 3) is described the general division of the functions of central banks. The following chapters (chapter 4 - 10) are focused on the individual functions of the Czech National Bank - for example emission activity,...
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International Payments Law Reform : Intoduction of a Global Code of Payments
Kišš, Július ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
International Payments Law Reform: Introduction of Global Code of Payments Resumé As of November 2009, the member states of the European Union are to have implemented the EU Payment Services Directive ("PSD"), a noteworthy instrument of EU payments law. At the same time, but in the different part of the world, discussions about harmonization and unification of payments law arise. The PSD focuses solely on the transactions within the European Union, whilst, by way of comparison, discussions in the U.S. focus solely on domestic payments law harmonization. Thus, with both the EU and U.S. focusing primarily on internal issues, debate on global payments law reform is markedly absent. This Master's degree thesis aimed to fill such absence by the following means. Firstly, in Chapter 2, the author provided a general overview of current terminology of international payments law. Furthermore, a limited outline of current legislation (i.e. Uniform Commercial Code Article 4A - Funds Transfers ("Article 4A"), UNCITRAL Model Law on International Credit Transfers ("Model Law") and the PSD was provided. Chapter 2 contains a useful comparison of credit and debit transactions. Moreover, in Chapter 2 the author offered a limited evaluation and analysis of the drafting processes of the Article 4A, the Model Law and the PSD....
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The independence of the CNB and its development since 1993 to the present
Pouzar, Petr ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
The independence of the Czech national bank and its development since 1993 to the present Summary The purpose of my thesis is to describe independence of the CNB as the crucial principle for the fulfilment of its primary monetary objective, which for the vast majority of central banks including CNB is to maintain price stability. The importance of price stability ensues from empirical experience with the world economy, which confirms that high and volatile inflation has negative economic consequences. The importance of central bank independence comes to the forefront here primarily because politicians may seek to compel the central bank to adopt measures that although in the short-run may boost economic growth, in the long run will lead to an undesirable rise in inflation. Economic growth will meanwhile return to its original level, or even sink to a lower level (as a result of the higher inflation). A sufficient degree of independence from political influence allows the central bank to resist such pressures. The thesis is composed of six sections, which are subdivided into chapters and subchapters. Section one is really an introduction to the thesis representing its whole structure and also purpose, for which topic of the thesis has been chosen. Section two is dedicated to development of central bank, The...
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