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The Causes of Formation of the Price Bubbles in the Capital Markets
Šimíček, Petr ; Dočkal, Dalibor (advisor) ; Řežábek, Pavel (referee)
This study analyses, why and how price bubbles are made on the capital markets, how different economical theories see their development and implications, how these theories could predict them and which impact bubbles have on the economy as whole and separated markets. Special accent is given on the paradigm of the behavioral finance, theories flowing from the Austrian school, fundamental analysis and other indirect factors. These problems are (in connection with nowadays world financial crisis) widely discussed among economists. The problem of price bubbles was in focus during 20's, 30's, 70's and 90's. The last part tries to find out a difficult way, how to prevent bubbles and what possibilities are during the attempts to find them. This paper operates with deduction and economical analysis method. Conclusion summarizes the results and tries to outline future development.
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Labour Productivity in the Czech Republic
Rousová, Sabina ; Dočkal, Dalibor (advisor) ; Urban, Luděk (referee)
This thesis deals with labor productivity and factors affecting it. Such as technological progress, education and development. Examines how various factors improve productivity and how PA affects other sectors. Furthermore, the focus on comparisons of labor productivity in the Czech Republic and European Union countries - and it seeks to draw conclusions. The work space is defined for comparison between the Czech Republic and the founding States of the European Union and then with all the countries of the European Union. Analyzes the current state of labor productivity in the CR and its impact on the competitiveness of Czech enterprises. Their ability to survive in the global market. At the same time predicts the possible future development of PP and the impact on public finances in the context of accentuated the need for reform. The aim of this work is, among others, are familiar with concepts related to the PP and the PP itself. And on the basis of these data to understand the diversity of PP in different countries and the resulting wage differences.
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Comparison of the Czech and the Swedish tax system
Fenclová, Veronika ; Dočkal, Dalibor (advisor) ; Urban, Luděk (referee)
In my bachelor thesis I deal with comparison of Czech and Swedish tax system. The tax system of Sweden is ranked among successful tax systems of the world and is different from the Czech one that is why I have chosen this system for comparison. The aim of this thesis is to refer to differences between these systems and assess the impacts of the tax systems from the perspective of public finances. The thesis is divided into 3 chapters. In the first one I deal with tax theory to understand the problem. The second chapter is about Czech tax system and in the final chapter the description of Swedish tax system a comparison with Czech system is situated. Some recommendations are mentioned too.
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Is the existence of a single European pension system feasible?
Korčáková, Barbora ; Dočkal, Dalibor (advisor) ; Krebs, Vojtěch (referee)
European integration is a complex and long-lasting process, which gradually affects all areas of national policy. A very up-to-date problem is also an unsustainable pension scheme facing many member states and which is the reason why European Union starts to deal with it more and more. The aim of this bachelor thesis is to characterize the pension schemes in selected member countries (Sweden, Germany, United Kingdom) and then find the differences and similarities between them. Furthermore, the thesis analyzes the current state of coordination of national pension systems within the European Union and other possible development in this area. In the model, which assumes a single European pension system, the advantages and disadvantages of its implementation are pointed out through a SWOT analysis on the example of the Czech republic. The conclusion of the thesis collects information and responds to the question whether the existence of a single European pension system is feasible.
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Swedish pension system - the inspiration for Czech pension reform
Nejedlá, Lucie ; Dočkal, Dalibor (advisor) ; Šmíd, Jan (referee)
Demographic changes in age structure of czech population brings a number of problems relating to the financial sustainability of the pension system. The pension system in the Czech Republic consists of two pillars. The first pillar is mandatory, state-guaranteed and continuously funded. The second pillar (pension additional insurance) is a voluntary. The problems of financial sustainability of pension systems must be solved. Demographic changes are not only in the Czech republic but in almost all developed countries. CR has an opportunity to monitor the actions of other countries and inspired to find a solution. Successful reform has already been in the Sweden.
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Investment incentives and their efficiency on unemployment in the Pilsen region
Hemzáček, Ondřej ; Dočkal, Dalibor (advisor) ; Zemplinerová, Alena (referee)
The following work pursues a analysis of investment incentives and their impact on unemployment in the region Plzeňský kraj. First, the reader is familiarized with the legal form of investment incentives, and then is familiarized in a brief introduction with problem of unemployment. The second part gives an analysis of unemployment, employment and employment of foreigners in the region in the context of investment incentives. Subsequently, the economic impacts upon investment incentives are under examination in this work. The last chapter targets other instruments of active employment policy in the region and compares their costs and effects with costs and effects of investment incentives, that were analyzed before.
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The ability of new firms to enter the monopolistic enviroment
Diblík, Petr ; Ježek, Tomáš (advisor) ; Dočkal, Dalibor (referee)
The present thesis deals with topic of monopolies and ability of new entities to enter mar-kets where such monopoly is present. For a deeper understanding of this field various views on monopolies in history of economic thinking are mentioned in introduction. In connection with possibility of new companies establishing themselves on the market there is analyzed creation and current practice of anti-monopoly legislation. In this part, certain arguments favoring protectionist policies are impugned. On particular examples it is dem-onstrated that more than privileges from the part of the state it is ensuring of free access to a given field which helps to a starting company. The state should be a guarantor of law enforcement and oversee observation of generally binging rules. In the conclusion of the work a difference is also shown between a situation where a monopoly originates in a natu-ral way as a result of exceptionality, which the clients positively value and a monopoly which exists due to support by state. A new company, as a continuous potential competitor, presents a good-quality feedback for a dominant entity and a driving engine for enhancing its efficiency. A free economic competition is shown also here as an effective tool for de-velopment of business, and it is the consumer who derives major benefits from such situa-tion.
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Fiscal bankruptcy of Hungary - the way that also the Czech Republic follows?
Pařízek, Ondřej ; Ježek, Tomáš (advisor) ; Dočkal, Dalibor (referee)
The first goal of this thesis is to reveal main causes of increasing public debts of the Czech Republic and Hungary. The results of that analysis should show us whether the both countries differ in such causes or not and if there is a chance that the Czech Republic's public finance system could be in danger, as it happened in Hungary in 2008. At the beginning, we suppose that there are no important differences in those causes and that the main reason for the increasing public debts are long-term budget deficits which are of structural character. That means that those structural deficits are formed on purpose, by irresponsible fiscal policy. The other goal of this thesis is to analyse the most important factors which cause the long-term structural deficits in the Czech Republic, and to suggest some steps which would help to stop the further creation of those deficits.
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The role of the Czech national bank after the accession of Czech republic to the monetary union
Dráská, Johana ; Ježek, Tomáš (advisor) ; Dočkal, Dalibor (referee)
The accession to the European Monetary Union is fundamentally changing the role of the Czech national bank. Aim of this work is to describe and evaluate this new role of the CNB in connection with the transfer of its former powers to the ECB. The theoretical part of the work deals with the role of central banking in general, the role of the CNB before the accession to the EMU and the role of ECB in monetary union. The work reviews compliance with the conditions required for the accession to the EMU. Further it focuses on the analysis of CNB monetary policy in recent years, particularly its interest rates policy. In view of the future situation in the field of monetary policy the work draws on the experience of Slovakia after its entry into the euro zone and respondes to the question of whether uniform monetary policy is equally applicable to all member states of the euro area by using the Theory of Optimum Currency Area. The work also analyzes the actions of the ECB and the CNB caused by the current economic crisis.
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The Analysis of the pension system in the Czech Republic (causes and consequences of the pension reform)
Dočkal, Dalibor ; Jílek, Josef (advisor) ; Říhová, Petra (referee)
Práce se věnuje analýze a souvislostem důchodového systému České republiky. Důraz je kladen na demografickou analýzu, která uvozuje čtenáře do celé problematiky. Vyvrací mnoho pesimistických scénářů o budoucím vývoji ekonomické struktury obyvatel a upozorňuje na hlavní nedostatky při dlouhodobých (50ti a víceletých) predikcích budoucího demografického i ekonomického vývoje. Na základě analýzy a predikce průběžného důchodového systému je explicitně ukázáno, že jej lze konformně ?reformovat? a zachovat jej jako základní pilíř českého důchodového systému.
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