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Impact of financial crisis on public finance in Czech Republic
Hudáková, Zuzana ; Ochrana, František (advisor) ; Vítek, Leoš (referee)
The final thesis deals with impact of financial crisis on public finance in Czech Republic. The aim of my thesis is to give to a reader an idea about impact of financial crisis on the state budget of CR, especially on expenditure and revenue side. Except of this, according to the Maastricht criteria, it is evaluated effect on debt of public budget and deficit of state budget. At the thesis are used sources mostly from CNB, MFCR and OECD. In theoretical part is defined the term "financial crisis", described causes of origin of the financial crisis and analysis impact of financial crisis on the world markets. Next part of the thesis is devoted to examination and analyzes of impacts of financial crisis on public budget, particularly on revenues, expenditures, debt and deficit of the budgets. At last part of the diploma thesis we can find adequate recommendations and summary of knowledge, which emerged from provided analysis.
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Fiscal Discretion in the Czech Republic in 2001–2011: Has It Been Stabilizing?
Ambriško, Róbert ; Augusta, Vítězslav ; Hájková, Dana ; Král, Petr ; Netušilová, Pavla ; Říkovský, Milan ; Soukup, Pavel
We survey discretionary measures of Czech fiscal policy in the period 2001–2011 and analyze their episodes and macroeconomic impacts. We use bottom-up and top-down methods to identify fiscal discretion and we compare the results with Kalman filtering. Fiscal discretion is found to be used frequently and to be large in several years. At the same time, the results signal that macroeconomic stabilisation has not been major aim of fiscal discretion measures. For example, in the years of economic recession 2010–2011, the government put emphasis on pro-cyclical consolidation.
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State budget deficit and its financing possibilities in the CR
Novák, Jiří ; Radová, Jarmila (advisor) ; Veselý, Marek (referee)
This bachelor work deals with state budget deficit and its financing resources in the Czech Republic. In the beginning we are dealing with the general characteristics of the state budget and the definition of the state budget deficit. In the next section we analyze the development from 1993 to 2010. State budget deficit is mainly financed by issuing government bonds, and therefore for the most part we deal with short, medium and long-term government bonds. The practical part describes how the sale of short-and long-term bonds under the current rules of the Czech National Bank. Government bonds are divided by the type of instrument and maturity. The last section is dedicated to new ways of financing the budget deficit and that is issuance of government bonds for citizens.
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causes and consequences of debt of selected EU countries
Šišo, Peter ; Blahová, Naděžda (advisor)
The bachelor thesis deals with causes of excessive public debt and searches for reasons of outbreak of sovereign debt crisis in Greece. The first chapter explains terms as of public debt and deficit which are crucial for purpose of this thesis. The second chapter contains political -- economic development from Second world war to entry to Eurozone and subsequent revision of Greek statistical data in 2004. The last chapter describes causes of excessive public debt, reasons of outbreak of sovereign debt crisis and emergency measurements which were supposed to reverse the negative situation in the country. The end of the third chapter is complemented with forecast of feasible development in Greece and whole Eurozone.
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The Analysis of Hungarian Indebtedness after 1989
Kudláček, Jan ; Petrášek, František (advisor) ; Vokoun, Marek (referee)
Hungary has struggled with budget problems throughout its post-socialist history. With knowledge of economic theory it is possible to analyze the evolution of Hungary's debt after 1989 and thus deduce its weaknesses. Populism and fiscal irresponsibility have characterized majority of Hungarian governments to some extent. Hence, the key to understanding the debt of Hungary may be found on the political level of budgetary policy. With regard to the economic situation, Hungary was forced to implement significant cost-saving measures in recent years. These measures are evaluated at the end of the work. They can be crucial not only in terms of the budgetary situation but also with respect to the perspective on the future economic development and competitiveness of the entire economy.
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California´s debt crisis
Průšová, Martina ; Jílek, Josef (advisor) ; Halás, Vladimír (referee)
The topic of my diploma is analysis of debt crisis in California. This one of the most wealthy state in USA has faced serious financial problems from year 2008 and almost fell in bankruptcy. State has a huge debt. At the beginning I will focus on short resume recent economic situation in United States. Rest of the thesis is devoted to situation in the state California. In the fist part is describe development of californian state budget. Next is explanation of main causes of current fiscal problems of California. This thesis also contain evaluation realised solutions these fiscal crisis, designe my own solution and estimate of future fiscal development in California. A part of this work also cover impact of this budget crisis on banking and consumer expenditures. At the end I will draw lesson from this crisis, which is important not only for future of California but also for other countries. The main point of my thesis is if the Califonia now go in the right way and if the solutions of current budget crisis are sufficient.
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California debt crisis
Surovec, Jan ; Jílek, Josef (advisor) ; Běláčková, Vendula (referee)
The topic of this thesis focuses on debt and budget crisis in California. First two parts introduce specifics of California economy and the process of enacting budget. Third part surveys economic-political development of California since fiscal year 1975-76. Further part provide evidence of changing structure of tax revenues and real growth of expenditures per capita. Fourths part focuses on long-term debt in California and its comparison with other U.S. states and also analysis of cash flow crisis. Final part proposes some measures, which could moderate future crisis.
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