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The indebtedness of Czech households in 2000-2015 and its macroeconomic context
Sovička, Lukáš ; Ševčík, Miroslav (advisor) ; Pekárek, Štěpán (referee)
The thesis is focused on the analysis of the macroeconomic relationships of the growth of indebtedness of Czech households in 2000 - 2015. The aim of the diploma thesis is to find the main causes of household indebtedness growth and to identify the influence of this process on selected macroeconomic variables. The theoretical part of the diploma thesis deals with money creation, monetary and fiscal policy, the role of money in economic cycles and economic theories of household consumption. The practical part focuses more closely on debt development, its structure and sociodemographic structure of indebted households. The thesis describes the causes of household indebtedness growth, impacts on selected macroeconomic variables, ability of households to meet their financial obligations and, last but not least, international comparisons with selected EU countries. The diploma thesis brings a comprehensive view of the debt of Czech households in the period 2000 - 2015. At the end of the thesis, it explains the main causes and consequences of the growing indebtedness of households, together with the international comparison and the sociodemographic characteristic of indebted households.
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Analysis of the impact of the smoking ban in Ireland in 2004 and their application to the ban on smoking in the Czech Republic
Tesárek, Vojtěch ; Kobliha, Pavel (advisor) ; Pekárek, Štěpán (referee)
The fight against smoking is currently one of the main preventive health programs of the governments of the mature states. Smoking is a common cause of illness and death that could be prevented. Whether the illness and death are directly related to smokers, or passive smoking problems. The aim of the thesis is to analyse the impacts of state interventions. Especially, in the area of smoking restrictions in restaurants and their concrete economic and health impacts Both the health and economic impact of laws will be analysed not only by studies published, but also by authors own investigation. Prediction of impact of the similar law on the real environment of the Czech Republic will be forecast from the data obtained before and after the introduction of laws limiting smoking in restaurant in other countries mainly in Ireland. Both from economic and health point of view.
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Far from Integration: An Example of Disunity in the EU Social Policy - Parental Leave (2016)
Pešek, Jakub ; Brabec, Petr (advisor) ; Pekárek, Štěpán (referee)
Well-integrated economic policies, open market and advanced institutional frameworks are examples of successful EU integration process, nonetheless, EU still contains areas, such as social policy, which have been almost untouched by integration. This may be a serious issue because social policy influences economic growth, development and the level of employment. Therefore, the EU should search the most appropriate social policy and examine its integration. The thesis questions this integration of social policy on the apposite example of parental leave. Furthermore, it describes and examines the parental leave in three EU countries (UK, SE, CZ), which represent diverse welfare state models. Parental allowances are computed for five standardised families describing real-life situations. Also, they are compared to demonstrate the disunity and the specifics of the systems. The main contribution of the thesis resides in the unconventional approach of using the calculations of the benefits to directly investigate the integration of social policy.
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Migration crisis 2016 - Analysis of the current and future impact on the economy of the Czech Republic
Strýček, Jakub ; Ševčík, Miroslav (advisor) ; Pekárek, Štěpán (referee)
Thesis focuses on quantitative and qualitative analysis of incoming migrants and their human capital. Through this analysis and economic calculations, final fiscal deficit is revealed. Research is conducted by analyzing publicly available statistical data and submitting surveys to ministries and nonprofit organizations. On these data, model is bulit involving broad scope of variables for accurate quantification of any implications of the migration crisis. Main contribution of this thesis is building a model with unique basis of data providing domestic fiscal implications of a European migration crisis.
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The Czech Republic's Debt Financing: Causes and Risks of the Current Situation on the Bond Markets
Švadleňák, Michal ; Pavelek, Petr (advisor) ; Pekárek, Štěpán (referee)
This thesis is focused on the comparison of methods of financing budget deficits and national debt management in the Czech Republic with other OECD countries in the context of the current situation on the global financial market. The first part describes the methods of financing budget deficits in the Czech Republic which are compared with selected OECD countries. The second part is aimed at the impact of foreign exchange interventions of the Czech National Bank on the domestic bond market and it is compared with negative interest rates policy. The last part analyses the impact of the Public Sector Purchase Programme on the Czech Republic's bond market. The thesis implies that besides other factors, foreign exchange intervention of the Czech National Bank have an impact on the current situation on the bond market. While the impact of the programme PSPP has not yet proved.
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Analysis of Particular Aspects and Risks of Financial and Monetary System of the People's Republic of China
Veitz, Lukáš ; Ševčíková, Michaela (advisor) ; Pekárek, Štěpán (referee)
This thesis analyzes the development of financial system of the People's Republic of China in the period from 1995 to 2015. The thesis is solved in the continuing process of Chinese economy liberalization. Main goal of the thesis is to analyze particular aspects of Chinese financial and monetary system and point out its potential risks as well. To achieve this goal the method of analysis has been chosen, especially system analysis and sector analysis. The thesis shows that one of main risks of the liberalization of Chinese financial sector is especially growing loans volume in its economy which is connected in growing rate of non-productive loans respectively. Next risk is the structure of investors in capital market. Based on findings it is able to say the highest risk of banking sector is connected with growing shadow banking as the alternative financing method. The thesis finds the completing of capital account liberalization and interest rate liberalization to be important too. Main benefit of the thesis except of Chinese financial sector analysis is comparison of different point of views about forecasting of future of the Chinese economy.
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The impact of quantitative easing on public sector bond yields of selected countries since 2007
Nacházel, Jan ; Jílek, Josef (advisor) ; Pekárek, Štěpán (referee)
This thesis deals with the impact of quantitative easing on public sector bond yields of selected countries in the world. It mentions channels of standard monetary policy tools and channels of quantitative easing, which can be included among unconventional monetary policy tools. This thesis analyses the impacts of quantitative easing, which was done by the Federal Reserve System, the Bank of England and the European Central Bank. Firstly, all these institutions fought against the financial crisis with standard monetary policy tools. However, those tools were not very effective, therefore the institutions moved to non-standard tools. After the analysis based on event-study method was carried out, it was found out that mainly the first announcements about the policy of quantitative easing were always the most effective in decreasing government bond yield. The subsequent expansion of the policy of quantitative easing did not have such impact. The main benefit of this thesis is in the examination of the impact of later statements regarding quantitative easing on government bond yield, which were not effective in decreasing government bond yield.
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Analysis of supplementary pension insurance between the years 1994 and 2015
Souček, Martin ; Kolman, Ondřej (advisor) ; Pekárek, Štěpán (referee)
This bachelor thesis deals with the development of supplementary pension insurance market. Primary goal of the thesis is to offer a complex analysis of the development of supplementary pension insurance between the years 1994 and 2015. Thesis offers a preview and summary of theoretical approaches towards pension security along with a link to progression of those approaches in Czech republic. Supplementary pension insurance is analyzed from a standpoint of conditions of the product, its gradual development, macroeconomic context and general overview of its positives and negatives. Thesis thereafter concentrates on comparative analysis of companies operating on the market, description of current changes and outlines possible future development and possible future challenges for additional pension savings.
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Was the Spanish labour market reform of 2012 successful?
Bondarevska, Anna ; Pekárek, Štěpán (advisor) ; Prokop, Jaromír (referee)
This thesis explores the efficiency of the reforms on the labor market of Spain in 2012. The main goal of this work is to evaluate the effectiveness of undertaken reform against its own objectives. Relevance of this topic is that after the Global Financial Crisis of 2008 many country s economic situation significantly worsened. Searching for the way out of the complicated and undesirable economic situation countries applied new reforms and development plans majority of which didnt contribute into the improvement of country s economy. Concerning this fact it appears extremely important to analyze measures undertaken by Spanish government and its efficiency. To evaluate the effect caused by the reforms I have analyzed long-term results of it its influence on the selected indicators and overall unemployment.
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