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Přeshraniční dopady fiskálních politik
Maleček, Petr ; Kadeřábková, Božena (advisor) ; Janíčko, Martin (referee) ; Beck, Jiří (referee)
This study seeks to analyse and quantify cross-border effects of discretionary fiscal policies from two major points of view. The aggregate approach rests on the use of the structural vector autoregression model (SVAR) and its extension, the global vector autoregression model (GVAR). The discretionary fiscal impulse itself is then defined as a change in cyclically adjusted balance of the government sector, calculated at quarterly frequencies. This section is then complemented by a case study of a single measure: the German car scrapping scheme during 2009 and its effects on the Czech economy. It was found that cross-border effects of discretionary fiscal policies may be indeed present, in case certain conditions are met. Importantly, a fiscal impulse has to originate from a sufficiently large economy and there needs to be a tight trade linkage between examined countries. In most cases, cross-border effects have also been found of lesser magnitude than direct impacts of fiscal policies on the domestic country. Finally, as demonstrated on the German-Czech case, even a single fiscal measure can trigger substantial cross-border spillovers. It was estimated that this measure positively contributed to real GDP growth in 2009 in the Czech Republic by 0.44 pp.
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How many and what can economists offer to public policy?
Jirásek, Tomáš ; Šťastný, Daniel (advisor) ; Maleček, Petr (referee)
The subject of this paper is the analysis of the hypothesis raised by some economists that economics has resigned on its original direction on public policy. In my paper I am going to give reasons for their opinions and then I am going to prove this trend in the economic science in an appropriate way. I am going to make a survey of economic periodicals such as American Economic Review, Journal of Political Economy and Journal of Labor Economics.
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The Prognosis Of The Future Development Of The Labor Market And The Unemployment In The Czech Republic From The Demographical Aspect
Řeháková, Petra ; Brožová, Dagmar (advisor) ; Maleček, Petr (referee)
The topic of my bachelors work is the prognosis of the demographical development of the population in the Czech Republic and its' future effect on employment, the labor market and the resulting economical impacts on the economy of the Czech Republic. A significant component will be the engagement of the migration of foreign inhabitants into the Czech Republic and related to this, the importance of programs for simpler adaptation of foreign human capital in our conditions. With regards to the expected aging of the population of the Czech Republic, the foreign work force will be incorporated as one of the factors influencing employment, the future of labor markets in the Czech Republic and the development of domestic product. I will include the views and economical studies of prominent economists in my work. In the conclusion I will concentrate on the complete summarization of my achieved results and their comparison to research and to data measured by the Czech Statistical Bureau.
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Monetary policy of The Czech National Bank between the years 1993 and 2008
Foksová, Eva ; Pichaničová, Ludmila (advisor) ; Maleček, Petr (referee)
This bachelor thesis deals with the characteristics of monetary policy of The Czech National Bank between the years 1993 and 2008. It describes the contents of monetary policy, its tools and mechanism. It analyses the development of monetary policy of The Czech National Bank, in particular the development of money stock and exchange rate. In the period of transformation of the Czech economy. It deals with reciprocal compatibility of laid out goals, a disharmony of these goals was one of the reasons for moving to new transmission mechanism of inflation targeting. It inquires into impacts of inflation targeting on the real inflation rate. It summarizes the effectivity of monetary policy of The Czech National Bank considering the laid out goals on the basis of found out facts.
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Slovania and Slovakia - Analysis of entry to the eurozone with focus on price level
Kadlec, Martin ; Maleček, Petr (advisor) ; Bydžovský, Jiří (referee)
This bachelor thesis is concerned with the price level and its progress after entry to the eurozone. In each country entry into the eurozone is linked with the concerns about spontaneous price increase. This thesis discusses whether this concern is justified and tries to quantify any price increase associated with entry to the monetary union. It maps the preparation and accession of the two countries of post-Communist bloc, Slovania and Slovakia, into the eurozone and analyzes the particular steps, which both countries were using to avoid the spontaneous price increase. Then, the thesis quantifies the impact of the monetary union to the countries price level using a linear regression model built on the basis of time series. In the end, the thesis comes to a finding, that there is no sense to be extremely concerned about the entry to the eurozone.
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Comparison of crisis in Czech Republic in years 1997/1997 and crisis in USA in years 2008/2009
Bolehovský, Petr ; Pichaničová, Ludmila (advisor) ; Maleček, Petr (referee)
This bachelors work compares the crisis in Czech republic in years 1997/1998 and crisis in USA in years 2008/2009. It firstly focuses on theoretical concept of financial markets and monetary policy. Then it describes Taylor rule, political cycle and money aggregates. Next chapter focuses on the causes of crisis in Czech republic and on factors that to started and prolonged this crisis. Next chapter focuses on the causes of crisis in USA and on factors that started and prolonged this crisis. This work points to differences and common signs of them. In the end it explains some mistakes that government and central banks should avoid in their policies.
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The entry of the Czech Republic to the ERM II and expected impacts on the price level
Kulířová, Petra ; Maleček, Petr (advisor) ; Chytil, Zdeněk (referee)
This work deals with the entry of the Czech Republic to the Exchange Rate Mechanism and an evaluation of impacts, primarily on the price level which comes out from the membership of ERM II. After that it focuses on the history of mechanism ERM II and its basic characteristics. This paper also discusses the view of the state, which is now a part of this mechanism. It's trying to describe possible risks that can occur if the Czech Republic enters to this mechanism of fixed rates with narrow exchange rate fluctuation zone.
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Assessment of effects of investment incentives in the Czech automotive industry
Junga, Přemysl ; Maleček, Petr (advisor) ; Skopeček, Jan (referee)
The bachelor thesis describes the concept of tax competition with its associated advantages and disadvantages. It is also dedicated to the main arguments for and against incentives generally and in the Czech Republic. The practical part deals with analysis of the impact of investment incentives for automotive industry and its links with the economy of the Czech Republic. The thesis leads to the conclusion that investment incentives are a manifestation of the negative tax competition and in automotive industry is difficult to say that investment incentives are effective.
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Tax competition and the relationship between ČR and Germany
Choutka, Tomáš ; Maleček, Petr (advisor) ; Svoboda, Miroslav (referee)
The thesis discusses tax competition among European countries. At this moment, we are witnesses of progressive declining of tax rates because of tax competition. Main aim of this thesis is to evaluate benefits and disadvantages of this trend. Comparison of the Czech Republic and Germany is done in more detailed analysis. Within the context of this dilemma is an analysis of effects of investment incentives and questioning if investment incentives have such huge influence on economic growth and unemployment as indicated in often persuasions of political leaders. Introduction to this thesis contents description of tax competition and following parts enter this dilemma into more details.
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Effects of entry into the Eurozone on the inflation and the perceived inflation
Karhanová, Michala ; Maleček, Petr (advisor) ; Mičúch, Marek (referee)
The main objective of this thesis is to find out on the example of the concrete EU countries how the admission into the Eurozone influenced both the real inflation measured by means of the HICP and the perceived and expected inflation. The first part of this work will explain the notions such as the meaning of the prceived and expected inflation and the way how to measure them. Then the reasons that might lead to the origin of the difference between the real and perceived inflation will be analysed. On the example of the selected EU countries the individual instruments that were used for decreasing the perceived inflation and preventing from an unauthorised price increase during conversion to the new currency will be examined.
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