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Financial crisis of 2008-2010 - the causes, consequences and measures taken in the EU and U. S.
Macečková, Sylvie ; Jílek, Josef (advisor) ; Mládek, Josef (referee)
This thesis analyzes the causes and impacts of recent financial crisis, which originated in the U. S. in 2007. It deals with the theoretical view and the specification of the financial crisis. A significant part is devoted to analyzing the root causes of the emergence of the recent financial crises. Here we find important implications in the functioning and structure of the financial system, in which we see many long-term unhealthy factors which largely contributed to the crisis. The paper also deals with analysis of the financial crisis on the real economy. It analyzes the impact of the crisis on the main macroeconomic indicators in the U. S. and Europe. Here we find an analysis of the measures taken in the U. S. and the EU in order to stabilize the financial sector. Find negative effects of state aid to public debt and government budget deficits.
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Measurement of development of business cycle according to the Austrian school of economics
Svatoňová, Martina ; Svoboda, Miroslav (advisor) ; Mičúch, Marek (referee)
In the introduction of my work, I will focus on the presentment of the Austrian School and its main representatives. The work analyzes the Austrian business cycle theory, which is based on subjective utility theory and uses the knowledge of Austrian capital theory, monetary theory and the theory of prices. Austrian business cycle theory is based on the general economic theory. This theory suggests that the real interest rate is the market price. As a result of the change in this rate there is a variation in relative price which coordinates the time structure of production. The theory examines the production of higher order and lower order goods as well as the right to change the production of higher order goods to recognize the economic process which disrupts the structure of the economy. The main goal of this work is to identify the economic indicators which can be used to measure and predict the course of the business cycle in the conception of the Austrian school of economics. The theoretical findings are the basis of the practical part of this work. In this section I will try to answer the question whether the current economic crisis fits into the concept of the Austrian school of economics or not.
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American mortgage crisis
Lukeš, Filip ; Antoš, Ondřej (advisor) ; Zemplinerová, Alena (referee)
This bachelor thesis is focused on American mortgage crisis. It was highly influenced by book Money, Bank Credit, and Economic Cycles. This book was written by Jesús Huerta de Soto, who uses the theory of Austrian school, which is applicable to contemporary crisis. Austrian theory and another terms related to crisis are explained in the first part. In the second part thesis explain how such a huge crisis occured and in particular is focused on one of the most discussed area -- subprime mortgages. In the third part the consequences of cisis are analysed. In the last part of this thesis situations on mortgage market in the Czech republic is compared with the American mortgage market, impacts of crisis and state reaction on this crisis.
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Monetary causes of the business cycle
Tůma, Aleš ; Koderová, Jitka (advisor) ; Havel, Jan (referee)
This thesis deals with the monetary theory of business cycles as presented by the so called Austrian school of economics. It analyzes the different economic effects of investments financed by saving as opposed to investments financed by credit expansion. It shows that in the latter case an unsustainable situation results in which economic actors try both to invest and to consume more at the same time, which is physically impossible. The result is recession and liquidation of malinvestments made during the boom. The thesis also provides an answer to critiques of the Austrian business cycle theory by proponents of the rational expectations hypothesis. Furthermore, a critique of traditional national income accounting measures, namely GDP, is put forward. These measures fail to adequately show the described cyclical changes in the economy's productive structure, e.g. the artificial boom and subsequent correction. Gross domestic revenue (GDR) is proposed as an alternative measure that adds the expenditure on intermediate products back to GDP. In the last part of the thesis GDR is calculated for the Czech economy.
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The Financial Crisis and Impact on the Banking Sector
Parmová, Sandra ; Schönfeld, Jaroslav (advisor) ; Smrčka, Luboš (referee)
This bachelor thesis is focused on the current financial crisis, which started in the USA and now is influencing the global economy as a whole. The first part of the work describes mortgage market in the USA, the problematic segment of sub-prime mortgages, the securitization process and the most important events that lead to the current financial and economic crisis. In the second part I deal with changes and impact on the banking sector. I describe the bank structure in the USA, in western Europe and in the Czech Republic. The last chapter is monitoring the Czech economy and the banking market. This thesis is completed by charts and pictures that should help the reader imagine the progression of this crisis.
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Relationship between growth of indebtedness and inflation
Spoustová, Michaela ; Ryvolová, Ivana (advisor) ; Zeman, Karel (referee)
The subject of this work is account of connection between indebtedness and inflation, tries to explain interactions and influences which effects on both values and influence them. Attention will be concentrated on influence of monetary measure to offer of inside money and then to total level of indebtedness. Nevertheless the rate of indebtedness loses feedforward to loanable funds market because of fractional banking system whereas accumulative dimension of credit increases risk that debts will not be refunded. In connection Austrian theory of cycle will be discussed likewise influence credit expansion with inflation and with economic growth assigned economy.
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