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The monetary policy of the European Central Bank
Šebestová, Kateřina ; Neumann, Pavel (advisor)
The objective of this thesis is to analyse and to evaluate the monetary policy of the European Central Bank (ECB) since the establishment of the European monetary union until the financial crisis in 2008. The thesis is divided into three parts. The first part introduces operating principles of monetary policy, which types of monetary policy exist and which instruments it uses. The second part deals with the process of its establishment and its formal requirements. In the third part, the analytical one, is presented the ECB's monetary policy implementation scheme and the single periods of reducing/raising of key ECB interest rates depending on economic and monetary developments in the euro area are analysed. By virtue of the analysis the ECB's monetary policy efficiency is being evaluated in author's view. The conclusion of this part contains changes in monetary policy instruments during the financial crisis.
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Nominal and real convergence of the Czech Republic in relation to EMU
Klátová, Jana ; Plchová, Božena (advisor) ; Korandová, Jiřina (referee)
The diploma thesis evaluates nominal and real convergence of the Czech Republic in relation to its future entry to euro area. First chapter focuses on process of creating the Economic and Monetary Union and description of convergence and its function during the implementation of euro. In the second chapter the Czech monetary integration process is defined. The third and forth chapters contain evaluation of convergence of the Czech Republic. In the last chapter there is a comparison of the Czech Republic and Slovakia, especially the common and different trends in approaching the process of monetary integration.
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The position of the United Kindgom within the EU
Kotková, Jana ; Černá, Iveta (advisor) ; Taušer, Josef (referee)
The thesis is divided into three separate thematic units. The first chapter describes the historical development of the British attitude to the European integration. There is described the process of the engagement of the UK into the European Communities. The second chapter of the thesis provides the description of the involvement of the UK within the EMU. Further it describes the assessment of five economic tests and the potential consequences of British access to the Euro area. The third chapter deals with the overall description of British attitude to European integration.
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Current issues of the Czech Republic's entry into the euro area
Strnadová, Jana ; Kalínská, Emílie (advisor) ; Čajka, Radek (referee)
In this thesis, I consider the Czech Republic's entry into the euro area. In the first part, individual Maastricht convergence criteria and its fulfilment by the Czech Republic are characterized. In the next part, the thesis is focused on fulfilment of the criteria of real convergence that are the determinants of the Czech Republic's profit from the euro area membership. In the thesis, there are also considered the preparations which have to be finished in institutional, technical and administrative area.
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Analysis of the readiness of acceptance and strategy of entry of the Czech Republic to the euro area
Urban, Oto ; Ševčíková, Michaela (advisor) ; Řežábek, Pavel (referee)
The aim of the bachelor thesis is to evaluate readiness of the Czech Republic to adopt the common European currency, the Euro. I will concentrate on the economic situation of the Czech Republic especially on the nominal values and the real convergence that are the main indicators of the accession to the euro zone. In the theoretical part of my bachelor thesis I will analyze particular attitudes and the phases of the economic and political integration with the concentration on the nominal and real convergence kriteria. Practical part is focused on the current strategy of the accession of the Czech Republic to the euro zone, analysis of the fulfilling of Maastricht convergence criteria by the Czech Republic and on the level of the harmonization between the Czech Republic and the euro zone by the comparison of the real parameters. In the end of the bachelor thesis, there is an analysis of the advantages and disadvantages of the access to the euro zone. I will tempt to propose the reference year which will be adequate for the adoption of the euro in the Czech Republic.
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Economic Development of the Euro Area Member States
Jasanská, Petra ; Adámková, Vlasta (advisor)
The diploma thesis is focused on the evaluation of the macroeconomic indicators of Euro Area Member States within 1997 -- 2008. This evaluation considers both the time period before and after introduction of Euro. The first chapter is dedicated to the development of the European and Monetary Union and the following two chapters contain analysis of economic development of the Euro Area within 1997 -- 2001 and 2002 -- 2008. The last chapter results from the current situation on the world markets and it is concerned in the evaluation of the development in the times of economic crisis including measures which has been adopted. By comparison of these two time periods the attention is aimed to the evaluation of the economic development of the Member States in terms of chosen macroeconomic indicators which results from convergence criteria. They are also complemented by important national economic indicators.
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Adopting the Euro in the Czech Republic
Ira, Jiří ; Janáček, Kamil (advisor) ; Ševčíková, Michaela (referee)
The aim of this thesis was to analyze, if the Czech Republic is ready to adopt the Euro and to evaluate benefits and risks of this step. The analysis is comlemented by evaluation of Maastricht criteria, and there is a short view of their fulfilling in the future. The problem of real convergence is discussed in the following chapter. I paid attention to business cycle synchronization in selected countries, to the situation on the Czech labour market and the fiscal policy. Both of them could play the important role after transition to commom monetary policy as other adjustable mechanisms. These mechanisms would help to absorb asymetric shocks our economy after joining eurozone. Finally I explain the dilemma of exchange rate mechanism ERM II and I mention the impact of global crisis on decision on adopting Euro in the Czech Republic.
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Monetary policy in Eurozone
Brandlová, Šárka ; Antoš, Ondřej (advisor) ; Štěpánek, Pavel (referee)
The main subject of bachelor essay is monetary policy in Eurozone. First part is dealing with explanation of terms related to Eurozone and European Central Bank (ECB), it is also about their development and history. The second part is a length description of instruments of monetary policy of ECB and characterization of their main targets. Next part analyses influence of instruments used by ECB during particular years in Eurozone countries and related advancement in ECB's decision making. The end of chapter is dealing with development of indebtedness of countries, which are situated in Eurozone. Ending of essay is devoted to solutions to Czech republic's Euro currency adoption questions, this part contains description of important macroeconomic indicators, showing image of actual position of Czech republic's economy. Situation in Czech Republic is compared to other member states, which are situated outside the Eurozone.
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The preparation of the new EU Member States for entering the Eurozone
Bušová, Tereza ; Adámková, Vlasta (advisor)
This diploma thesis deals with the preparation of the two EU Member States, namely Czech Republic and Slovakia, for joining the euro area. The first part briefly describes the formation of the Economic and Monetary Union. The core part lies in the assessment and in the comparison of both states regarding the fulfillment of the criteria for adoption of the single currency. The detailed analysis is focused mostly on the nominal and the real convergence.
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Analysis of nominal and real convergence of Czech republic and Slovakia
Andrejová, Margareta ; Plchová, Božena (advisor) ; Korandová, Jiřina (referee)
In the first chapter the thesis deals with the historical process of formation of the EU and EMU, in the other words euro area. Second chapter shows us the nominal and real analysis of convergence of Czech republic and Slovakia to the average of the EU 27 and former EU 15. Following chapters are about the process of ingression of Czech republic and Slovakia firstly to the EU and nowadays to the euro area. The aim of the thesis is to compare the process of the integration in these countries.
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