|
|
The Impact of Ffiscal Policy on Foreign Exchange Rate Developments in the Last Decade
Vašková, Kateřina ; Ševčík, Miroslav (advisor) ; Zabranská, Monika (referee)
Diploma thesis deals with problem whether fiscal policy has an impact on development of currency exchange rate. The first aim of the thesis is to describe some theoretical models which consider possibilities of relationship between fiscal policy and currency exchange rate and to give a notice where can be differences. The thesis introduces a function of fiscal policy, a creation of currency exchange rate and describes an environment of exchange market. Currency exchange rate is stable on its market defined value in the long term. I suppose also that interventions of leaders of fiscal policy can not influence currency exchange rate positively. On the other hand, there could be a negative impact on currency exchange rate by leaders of fiscal policy. The second aim of the thesis is to analyze an impact of government debt on development of currency exchange rate, mainly are analyzed the Czech republic, Great Britain and some other selected countries of the European union. In the thesis are provided macroeconomic data of mentioned countries, mainly government debt to gross domestic product, budget deficit to gross domestic product, development of currency exchange rate and some information about macroeconomic situation of countries. Final part of the thesis provides an analysis of an impact of debt on currency exchange rate (correlation analysis, graphical comparing).
|
|
|
Greece: Economic development and prospects
Roštínská, Eva ; Abrhám, Josef (advisor) ; Jiránková, Martina (referee)
Diploma thesis describes the development and prospects of greek economy, mainly focused on Economic adjustment programme for Greece introduced in May 2010. Main chapter introduces the goals of the programme and design of main reforms. Estimates of further economic development and the possible restructuring of greek debt was presented.
|
|
|
Impact of national debt on the behaviour of households
Řehůřek, Tomáš ; Janíčko, Martin (advisor) ; Babin, Jan (referee)
Do Czech households behave on the basis of Ricardian equivalence? Do we threaten the future of our children? These are the questions I want to solve in my thesis. I implemented the regression analysis on an annual and a quarterly data. Its results allow us to deny Ricardian equivalence (which is in violation of much foreign research), so we can agree with, so-called, traditional hypothesis. This means that macroeconomic consequence of society is: higher spend, than avaible product. The main criterion of these consequences is, whether borrowings are used to consume or to investments, complying with criterion of investment.
|
|
|
Using financial derivatives in government debt risk management
Kučera, Lukáš ; Blahová, Naděžda (advisor) ; Brůna, Karel (referee)
This diploma thesis deals with possible usage of financial derivatives in context of government debt risk management, mainly in the Czech Republic. After the opening analysis of government debt development, the thesis describes risks, which are involved in government debt management. After that it handles with quantification of those risks and of their possible securing, especially with respect to financial derivatives usage. This thesis tries to answer the question, whether using financial derivatives in government debt management is reasonable. To solve this I used an analysis of 2010 data, in which I compare profitability of emission of classical bonds compared to emission of so called structured instruments, i.e. joint of classical bond and financial derivative. In conclusion of thesis there is usage of financial derivatives confronted with their negative characteristics as well as with cases of their abuse.
|
|
| |
|
|
Public Finance Reform in the Czech Republic
Pešek, Radim ; Dvořák, Pavel (advisor) ; Lešetický, Ondřej (referee)
This work describes the development of volume and structure of czech agencies of government sector expenditure side, the development of budget balance and a public debt. It judges the fulfilment of Maastricht's criteria necessary for the acceptance of common europian currency. The work also describes and scans two reforms in public finance in the Czech Republic. The proposals for solving the problems in czech public finance are introduced at the close of the work.
|
|
|
The Evolution of Hungarian Debt
Kudláček, Jan ; Antoš, Ondřej (advisor) ; Vebrová, Ludmila (referee)
In the world of rising public sectors, investigation of government deficits and increasing government debts is starting to be important both in theoretical economics and political reality. Hungary is one of the EU member countries with the major public debt problems. As primal cause of Hungarian debts, the trauma of revolutionary year 1956 could be accepted. Government officials began "to bribe" Hungarian citizens by many social security benefits and government expenditures which were so large that government revenues couldn't have covered them. This course led to culminating government debt in relation to ignorance of economic reality. There weren't considerable changes in this evolution even after 1989. Government debt is still the biggest macroeconomic weakness of Hungary, which financial crisis has revealed.
|
|
|
The Efficiency of Fiscal Policy in connection with "Japan's Lost Decade"
Cvetkov, Jan ; Ryvolová, Ivana (advisor) ; Loužek, Marek (referee)
This work has a target to review the efficiency of fiscal stimulus instruments in connection with "Japan's Lost Decade". The first half of this work follows selected theoretical areas. The author criticises usability of the AS-AD model and spending multiplier. Public finance deficits and government debt are attached to fiscal expansion and, therefore, this work will focus on this topic too. The role of fiscal stabilization policy will be studied in connection with causes and symptoms of trade cycle. The second half of this work scrutinizes the development and implications of implemented fiscal policies in Japan, especially the 1990s, well known as "Japan's Lost Decade". The consequences of fiscal stimulation will be judged.
|
|
|
The national accounts of the Czech Republic, focusing on government deficit and debt
Kožuch, Michal ; Vebrová, Ludmila (advisor) ; Krebs, Vojtěch (referee)
The diploma thesis deals with the system of national account of the Czech Republic with a focus on the development of government debt and deficit. The first chapter explains the nature, the aim and the development of the field of national accounts. The second chapter concentrates on the system of national accounts of the Czech Republic. Special attention is paid to the sector of government institutions, as the national government accounts are the basis for the prediction of the government deficit, debt and the Convergence program for adoption of the common currency Euro. The third chapter defines the terms closely related to the general government sector and financial statistics. The closing chapter analyses the development of government debt and deficit in the period since 1995.
|
|
|
Dluhová teorie a politika centrální vlády
Bělková, Veronika ; Pavelek, Petr (advisor) ; Paneš, Patrik (referee)
Tato práce se soustředí na problematiku dluhové teorie a politiky centrální vlády. Práce je rozdělena do tří kapitol. První kapitola se zabývá různými přístupy ekonomických škol ke kreaci dluhu a jeho složení. Součástí je i osvětlení pojmů vztahujících se k dluhové problematice. Druhá kapitola je zaměřena na definici metodických přístupů, jež jsou v České republice používány. Pozornost je dbána především na vztah přístupu k dluhu z hlediska ESA 95 a EDP. Třetí kapitola se již soustředí na samotné časové řady vládního dluhu i vládního deficitu v letech 1995 - 2006. Zmíněn je i vliv podmíněných závazků státu a transformačních institucí na vládní dluh i na vývoj v ČR vůbec. Kapitola je uzavřena krátkým srovnáním vládních dluhů i deficitů v rámci EU.
|
guest ::
