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The relations of the USA and China on the current and financial account of the balance of payments
Šebestová, Kateřina ; Hnát, Pavel (advisor) ; Jiránková, Martina (referee)
The objective of this thesis is to analyse relations between the United States and China on the current and financial account of the balance of payments in the quantitative and the qualitative point of view and to evaluate the impact of mutual operations on the external equilibrium. The partial objective of the thesis is to create the entry analysis for assessment of the global imbalances of the current accounts. Current external imbalances and mutual trade and investment relations between the USA and China are the key factors of the global imbalances. The thesis is divided into two chapters. The first chapter is theoretical and it is divided into two component parts. The first part is dedicated to the definition of single components of the balance of payments (current, financial and capital account), to its determinants and to mutual relations. The balance of payments theory is based on IMF's methodology. In the second part of the first chapter are introduced the main approaches to the balance of payments, the income (keynesian, multiplier), price (elasticity) and monetary approach. The analysis of the relations in terms of balance of payments is presented in the second chapter. The current account relations are assessed in the first part of the second chapter with the focus on domestic savings, investment, processing trade and effect of the Chinese monetary policy on mutual relations. The second part of the thesis deals with financial account matters, especially with Chinese build-up of the foreign exchange, American federal debt and character of the investment that flows between the USA and China.
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Ocenění a zajíštění měnových bariérových opcí
Mertlík, Jakub ; Radová, Jarmila (advisor) ; Kodera, Jan (referee) ; Scevenels, Dirk (referee)
The main aim of this thesis is in analyzing and empirically testing the various valuation models and hedging schemes of foreign exchange barrier options and their robustness with respect to changing of market conditions. The purpose of the main empirical section is to get a detailed understanding of the static and dynamic performance of the analyzed models for the barrier options payoff mainly in the extreme market conditions, where we performed a benchmarking of the various hedging schemes. As a by-product, we analyzed the accomplishment of some of the model assumptions in real world setting, and the model dependency of the barrier options.
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Development of foreign exchange market
Hakobyan, Ani ; Brůna, Karel (advisor) ; Čermáková, Daniela (referee)
This thesis describes the instruments of the foreign exchange market and analyses the trend of its single elements over the past 15 years. The work is divided into two parts. The first part includes the description of the global foreign exchange market,its history, geografical concentration, participants and financial instruments. The second part analyses the foreign exchange market in the Czech Republic and its comparison with transition economies such as Poland, Hungary and The Slovak Republic.
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Eurasian FOREX markets
Sadykova, Albina ; Brada, Jaroslav (advisor)
This thesis is mainly concerned with comparison of European and Asian Forex markets in terms of their regulation and services given by brokers and other financial institutions, and currency pairs which are mainly traded in certain domestic currency markets. The first part of thesis is presented with the foreign exchange market including its characteristics and features of its evolution and with explanation of the basic concepts of the trade and investment in it. The second part describes important characteristics and particularities of the relationships between Forex brokers and their clients. In this part process how to retail traders participate indirectly through brokers or banks in global exchange market is explained; in this part also includes description of possible risks related with this special type of trading.
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Methods and processes for managing exchange rate risks
Kliment, Martin ; Kuncl, Martin (advisor)
The development od international markets comes along with a price of risk changes in foreign exchange rates. The purpose of this bachelor thesis is to help the reader understand the methods for managing of foreign exchange risks. Foreign exchange risks are caused by development of exchange rates. It caues the danger of volatility in revenues as well as expenditures. The work is devided into several chapters in which I am trying to familiarize the reader with the world of foreign exchange risks. From the definitions and basic relations to primary hedging possibilities that are financial derivates. The last part I devoted to the assessing and practical findings emerging from the work itself.
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