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The causes of the European debt crisis from the perspective of the Austrian School of Economics
Pastushuk, Olha ; Pavlík, Zdeněk (advisor) ; Bolotov, Ilya (referee)
This bachelor thesis analyzes the causes of Europe's debt crisis from using theory put forward by Austrian School of Economics, as a tool. The work strives to answer the question of what caused the crisis. At the beginning, theoretical foundation of the school is defined, particularly the Austrian business cycle theory. Subsequently, an analysis of various causes of the crisis in EU was made. The important causes were examined, for example, economic conditions in selected EU countries and problems of EU institutions by the theory of the Austrian School of Economics.
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European debt crisis according to the Austrian School of Economics
Talian, Peter ; Pavlík, Zdeněk (advisor) ; Melcher, Ota (referee)
Debt crisis is at present a major problem not only in the eurozone or Europe but also in the whole world. This bachelor thesis deals with the origin of the debt crisis, explains current status and specific issues of PIIGS countries within the eurozone. Furthermore, it introduces the Austrian School of Economics, its history, main representatives and thier principles. In its third part this thesis interprets the Trade Cycle and the Credit Expansion Theory according to the Austrian School. The subject of this part of the thesis is to find the connection between the debt crisis and the theory. In the last part the thesis reflects on the possible ways the debt crisis is conducted or debated by the EU and speculates about the future of the eurozone. On the contrary to EU measures, there will be also Austrian debt crisis sollutions given.
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Great Britain and its stance on european integration
Hladká, Darina ; Pavlík, Zdeněk (advisor) ; Hinčica, Vít (referee)
Great Britain, one of the most eurosceptic countries, resisted for decades to entry into the European integration project, even though it was Winston Churchill, who called for the creation of a united Europe. This paper aims to describe the historical position of the United Kingdom in integration efforts, shows the approach of individual countries' governments and their contribution to the british integration into the European Communities. The analytical part is devoted to the impact of Great Britain's membership in the European Union and shows the advantages and disadvantages of approach to the unified european currency. Result of the analysis suggests that deeper integration into EU structures is not a favourable option for Great Britain, particularly disadvantageous would be adopting the euro. The debt crisis in the euro area and its development will have a major impact on the future direction of British integration policy.
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Assessment forms of collateral payments and exchange rate risks for companies in selected sectors
Hrazdíra, Adam ; Pavlík, Zdeněk (advisor) ; Baluchová, Daniela (referee)
This bachelor thesis deals with the problem of securing payments and exchange risks in international trade. Financial derivatives, documentary letters of credit and documentary collection were selected as the main financial instruments for hedging. The aim of this work is to choose the most appropriate combination of these instruments for companies in a particular sector and economic areas. The second part of this thesis focuses on the Czech engineering company that uses all these financial instruments listed above for hedging. The company's strategy for exchange and payment security will be presented, based on the data of analysis. Following this strategy recommendation arises for other companies in this sector.
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Analysis of the eurozone crisis with its potential impact on euro
Strouhalová, Markéta ; Pavlík, Zdeněk (advisor) ; Hinčica, Vít (referee)
Debt crisis dominates the euro area since 2010. At present, however, the high government debt of some member countries is not the only problematic issue anymore. So far, European leaders were not able to find a comprehensive solution to the long-term stabilization of economic situation in eurozone. This thesis aims to describe current economic situation of the euro area and then evaluates if the most currently discussed anti-crisis measures have the potential to solve local structural problems, or whether it is more likely to break-up and cause the end of common currency euro.
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Monetary policy of the selected world's central banks during the crisis
Čechura, Tadeáš ; Pavlík, Zdeněk (advisor) ; Melcher, Ota (referee)
The aim of this work is to analyze the attitude in the field of monetary policy of the world's central banks at the period of the financial crisis 2007-2010. It describes the principles and features of a monetary policy in general followed by the approach of particular central banks. The thesis examines the interventions of central banks and their effects on the financial market at the time of the crisis. At the end states a comparison of individual actions taken by the cantral banks.
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The impact of monetary policy on stock markets during the crisis
Brodníček, Lukáš ; Pavlík, Zdeněk (advisor) ; Lamač, David (referee)
The following bachelor thesis analyzes the current monetary policy of main central banks and its impact on stock markets. The first chapter describes briefly the history of money and banking which is essential for understanding the current monetary policy of central banks. The second part deals with approach of selected economic schools to implementation of monetary policy. The third chapter describes unconventional measures of monetary policy. The last part is about the impact of monetary policy on stock markets since the recent financial crises up to now.
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Vliv měnové politiky na tržní sentiment v době krize
Winter, Lukáš ; Pavlík, Zdeněk (advisor) ; Cséfalvaiová, Kornélia (referee)
The aim of this work is to investigate the real impact of monetary policies on market sentiment. This work deals with the analysis of monetary policy of central banks of selected countries and focuses on the actions taken by central banks in the years 2008 to 2012, as a response to the global economic crisis. This work defines the global economic crisis as the financial and debt crisis, whose origin is associated with the collapse of U.S. bank Lehman Brothers in 2008 as a reaction to the collapse of the U.S. real estate market. In the theoretical part is defined monetary policy, monetary policy objectives and monetary instruments used. In the practical part of the thesis describes the monetary measures taken by the Czech National Bank and the European Central Bank, as well as a brief description of the two central banks. In the last part of the thesis is examined the impact of adopted measures on market sentiment.
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Vývoj eura ve vybraných zemích EU od počátku krize
Strupplová, Lucie ; Pavlík, Zdeněk (advisor) ; Froňková, Martina (referee)
The implementation of Euro as a single currency in Eurozone is a result of a long-time development of European integration. It presents the important milestone in the world economy. The main goal of bachelor's thesis is to evaluate the development and role of Euro in selected states of European Union from beginning of the crisis. The thesis analyses the differencies of the crisis using comparison of the macroeconomic dates. It evaluates the crisis's impact on Germany, France, PIIGS countries and on the whole Eurozone. It observes the role of ECB and interventional and salvation mechanisms as well. In conclusion the tesis evaluates the role of the single currency Euro, its asset and the negative impact in the time of crisis.
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