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Specifics of big farms evaluation
Jaklín, Jiří ; Krabec, Tomáš (advisor) ; Čibera, Roman (referee)
The thesis focus on the evaluation of big farms with high share of rented farmland and expired restitution liabilities. First the value of rent contracts is valuated, then farm is evaluated with DCF and EVA methods and finally a company is evaluated by asset evaluation including value of rent contracts.
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Rent-seeking in the application to „Government bonds for citizens“
Bučková, Kristýna ; Schwarz, Jiří (advisor) ; Jaklín, Jiří (referee)
The emission of government bonds is a topical issue for Czech citizens. Czech government aims to borrow financial means directly from households to whom it provides a safer deposit for their financial assets at a higher interest rate than they can achieve from their time deposits at commercial banks. Such emission would be beneficial also for the government will not need to pay citizens as high interests as it would pay to commercial banks in case of borrowing the money from them by means of exclusive sale of government bonds to them. The project seems advantageous for the citizens as well as for the government, but not for the middlemen, for commercial banks.However the realization of the project "Government bonds for citizens" has been postponed and begins to be threatened by different conflicting interests of interest groups. Especially interests of commercial banks are responsible for postponing of this project. An exclusive position of commercial banks in government bonds trading brings a certain rent for them. Size of this expected rent is not only temptation for banks to maintain their rent-seeking position but also is a rational limitation for their rent-seeking avtivities.
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What is better than GDP for measuring business cycles?
Hnilica, Petr ; Svoboda, Miroslav (advisor) ; Jaklín, Jiří (referee)
This paper has the objective to examine the aggregates which would describe the economic activity during business cycles better than does GDP. GDP counts only final goods. GDP doesn't express the structure of production. GDP also does not cover changes in the prices of property which is during business cycle very affected. But paper doesn't give a clear answer. It rather explains problems and offers several options, because the right choice depends on the ability to obtain quality data. It presents Gross National Output by Mark Skousen and Gross National Produduct by George Reisman. They are focusing on the intermediates. In paper are presented new aggregates. Change in Wealth and Consumption which takes into account the wealth of the national accounts and The Aggregate of Divine Eye which is the sum of all transactions.
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The role and influence of public economic predictions to the real economic progress
Sequens, Jan ; Hudík, Marek (advisor) ; Jaklín, Jiří (referee)
This paper explores the question of the existence of economic forecasts in three main areas. Firstly, why we need economic predictions and forecasts of economic indicators, secondly whether the predictions match the future real conditions and thirdly whether the forecast can change future progress or value of indicator they predict. The first question can be answered very easily. Economically, philosophically or psychologically, but clearly, we can say that economic predictions, at least in some points, are for our society necessary. For the second question we find ambiguous answer, when we know that predictions can not always predict the future accurately. But predictions can synthesize a large amount of information in a graph and formula, can offer different scenarios for the future with a certain probability, and under certain assumptions, can predict very accurately. Last question - the impact of the prediction on reality and predicted indicators, is based on empirical analysis of the impact of the indicators on reality in shape of collected theoretical background. The conclusion clearly says that predictions really affect reality, but the prediction impact on the actual value of predicted indicators is inconclusive.
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Business Cycle and Traffic Fatalities
Hátle, Lukáš ; Houdek, Petr (advisor) ; Jaklín, Jiří (referee)
The paper tests the hypothesis regarding the assumed relation between economic cycle and mortality caused by road traffic accidents. The analysis has been done using fixed effect regression method on panel data collected in 20 EU member countries between years 1995-2008. The results (with a limited significance) may show that one percentage point decrease of the unemployment rate results in a one percentage increase in the road traffic mortality rate. The effect is caused by the increased traffic intensity as well as by changes in the drivers' behaviour that accompany the economic growth (e.g. higher consumption of alcoholic beverages). The results hint further that the strength of the relation differs for various age categories. The strongest relation between the economic cycle and the mortality was found for the young generation, 15-29 years of age. In this age group, one percentage point decrease in the unemployment rate means 1.77% increase in the road traffic mortality rate.
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CONVERGENCE OF BUSSINESS CYCLES OF THE EMU REGIONS
Zezulová, Petra ; Jaklín, Jiří (advisor) ; Chytil, Zdeněk (referee)
The aim of this bachelor thesis is to answer the question whether the region of countries that participate in the European Monetary Union since 1999, constitute an optimal currency area. We will identify it under one of the criteria of OCA theory -- synchronization of economic cycles. This work first explain the emergence and development of the theory of optimum currency areas, and its criticism mainly by two different perspectives on the incidence of asymmetric shock in the economy after joining the single currency union, which causes asynchronous business cycle of the country. It also explains the economic cycle and particularly the methods used to detrending the time series, which are used for our research. In the analytical part, we create a correlation analysis, by force of detrending annual data of gross value added of NUTS2 regions that we will be able to answer whether the business cycles converge or diverge.
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Residential market at a time of financial crisis
Žemličková, Helena ; Čermáková, Klára (advisor) ; Jaklín, Jiří (referee)
The topic of this bachelor thesis is the residential market of the Czech Republic and changes of housing construction at a time of financial crisis. Residential market can be affected not only by financial crisis, but also by other factors that are not influenced by economic recession. The work is firstly aimed at the change of value added tax law in 2008 and its possible impact on the number of completed dwellings. Supply and demand could be influenced not only by these changes but by uncertainty about future form of these changes, too. The second part of this work is aimed at possible impact of demographic structure on started housing construction. There are two time series that are correlated -- the number of inhabitants of the Czech Republic between the ages of 25 to 39 and the number of started dwellings. The results show that newly started housing construction is not depended on the number of inhabitants at determined age group in conditions of the Czech Republic. The conclusion of this thesis on terms of chosen assumptions and used statistical data is that the changing number of started dwellings cannot be caused by development in the demographic structure.
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Failure of government regulations on housing markets in the U.S..
Brečka, Peter ; Chytil, Zdeněk (advisor) ; Jaklín, Jiří (referee)
In my thesis I want to focus on the mortgage crisis in the U.S. and the reasons for its formation. I will turn my attention to Fed policy. I will examine the consequences of policy practiced by the Fed - whether it was a "boom" in the housing market and subsequent crisis in the financial markets. Also, I will pay companies Fannie Mae and Freddie Mac, which have a share in the current state of the mortgage market. I will try to compare the bubble in mortgage markets in the U.S. and compare with the bubble in selected European countries. The analysis will be based primarily on a comparison of growth in house prices in recent years before the crisis. That growth, I will compare with interest rate and try to get a result on how much was overdeveloped growth of house prices and how big bubble could develop in the market. Finally, my work should be a summary of the main factors that triggered this crisis.
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Health Care Economics and Pressure Groups
Jaklín, Jiří ; Tegze, Miron (advisor) ; Chalupníček, Pavel (referee)
Diplomová práce se v první řadě zabývá zájmovými skupinami ve zdravotnictví, jako jsou lékaři, farmaceutický průmysl či politici, a jejich vzájemnými interakcemi. Dále ve stručnosti popisuje některé národní systémy zdravotní péče včetně ČR a hledá v nich prvky významné pro interakci zájmových skupin. V poslední, více normativní části pak diskutuje možnosti zdravotních pojišťoven jako protiváhy partikulárním zájmům jednotlivých zájmových skupin.
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