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Analýza rozdílu harmonizovaného a národního indexu spotřebitelských cen v ČR
Vrabec, Václav ; Vltavská, Kristýna (advisor) ; Musil, Petr (referee)
Price indices belong to the most important topics in the economic statistics. The consumer price index and the harmonised index of consumer prices are the parts of the complex of price indices. The consumer price index belongs to the most important indicators of the price development in the Czech Republic. Relative changes of the final consumer prices of goods and services paid by inhabitants can be estimated in a representative way with the help of this index. The consumer price index for households (in total) is used for measuring inflation in the Czech Republic. The harmonised index of consumer prices is developed as the result of the need of comparable measurement of the inflation trends Member States of the European Union. The aim of this work is to find and analyse the differences between the national consumer price index and the harmonised index of consumer prices. These differences will be searched not only in the methodologies but in the final values as well. There is also shown development of the differences throughout the time. It will outline the development of the both indices in the future including their differences. This work should provide the clear and integral source of information about indices in general; the consumer price index, the harmonised index of consumer prices and their differences.
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Impact of euro adoption on Slovak’s economy, focusing on competitiveness
Závadská, Jana ; Bič, Josef (advisor) ; Šaroch, Stanislav (referee)
Thesis analyzes different indicators of competitiveness in period before and after adopting of euro in Slovakia. First chapter contains theoretical background, defines competitiveness and methods of its measuring. Second chapter analyzes development of macroeconomic indicators such as GDP, inflation, government debt and deficit. Aim od third chapter is to evaluate competitiveness of Slovakia, using different competitiveness reports and this chapter also contains analysis of unit labor costs, labor productivity and real effective exchange rate. Fourth chapter is analyzing different exchange rate regimes and compares impact of financial crisis on Slovak and Czech economy due to the fact, that countries had different exchange rate regimes in this period.
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Statistical analysis of the development of the housing market in the Czech Republic and its prospects
Hrnčíř, Petr ; Prášilová, Marie (advisor) ; Kříž, Josef (referee)
In the bachelor thesis is analyzed historic devevelopment of housing market from 2005 to 2014 by using time series and index analysis. In the work is analyzed year 2015 and its situation at the housing market, because it shows current situation in housing market and provide compare it with previour data from the period. The analysis is focused on housing prices, the number of completed dwellings, household expenditure on housing, the change in inflation, changes in interest rates on mortgage loans and state spending on housing.
State spending on housing is very important indicator, where they are analyzed important products to support housing individually, which the Czech Republic uses, such as support for savings, housing allowance, green to savings, loans for the purchase of housing for young people up to 36 years old and the program PANEL. The conclusion contains a summary of the results and the estimation of future developments in the housing market. And the subsequent proposal or recommendation, what should the housing market change.
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China and India: the comparison of the position in the world economy
Kostiviarová, Jana ; Cihelková, Eva (advisor) ; Zapletal, Petr (referee)
The bachelor's thesis focuses on the comparison of the position of China and India in the world economy. The first part deals with an observation of political and economic development of the two countries. The focus is on political and economic reforms, which contributed to opening of the economies, and thus to opening of the international trade. Economic development is pursued on the basis of the GDP, unemployment and inflation. The second part of the bachelor's thesis provides insight into the international economic relations of China and India. I will use statistics on trade in goods and services, foreign investments and balance of payments. Based on these statistics we will see, if these two states aim to become leaders on the world market. The last part is devoted to the position of China and India in the world economy. It provides insight into the current position, as well as prediction of the future position based on forecasts of countries BRICS. Bachelor's thesis contributes to spread awareness of the position of China and India in the world and to realization that these two states can become, based on several factors, the leading Great powers in the world economy.
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Development of Peruvian economy in new millenium
Kovářová, Zuzana ; Pavlík, Petr (advisor) ; Cihelková, Eva (referee)
The thesis "Development of Peruvian economy in new millenium" is divided into four chapters. The first part deals with Peruvian geography, demography nad history. The second part focuses on development of GDP and its structure, on inflation, currency, public debt and unemployment. The third part analyses the development of Peruvian trade and presents the trade with United States and European Union as a study. The final part evaluates the perspectives of economic development and on the basis of mentioned facts gives the problems that are limited for the fast growth of Peruvian economy. The result is a complete study about progress, development and limiting factors of Peruvian republic.
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Analýza obchodních vztahů mezi Evropskou unií a Latinskou Amerikou
Daza Aramayo, Lourdes Gabriela ; Krebs, Vojtěch (advisor) ; Macháček, Jaroslav (referee) ; Benáček, Vladimír (referee)
The Doctoral Thesis "Analysis of Trade Relations between the European Union and Latin America from 1995-2011" focuses on the determination Latin America's potential as a trading partner for the European Union. It will be based on an analysis of the region's trade relationships between 1995 and 2011 through different econometric models and a macroeconomic analysis. It will make recommendations for improving economic relation policies with Latin America and the European Union as well as identify the sectors which could represent great potential for trade between both regions. The research is divided into seven chapters: The first chapter covers international trade theory; this part comprises the theoretical aspects directly related to international trade. The second chapter analyzes the macroeconomic features of Latin American countries and compares them with data from the European Union. A separate, detailed analysis of 17 Latin American countries was performed and the potential of each one to make their importance known to the world and define their geopolitical position is described. The third chapter details the trade policies of the European Union and Latin America. The fourth chapter discusses trade relations between Latin America and the European Union through a look at the trade agreements that have been signed between the European Union and Latin American countries and tries to identify possible causes of failures for agreements not signed. This chapter also studies the sectorial composition of trade between the two regions, emphasizing the asymmetry between these trades flows as they enter the countries studied. The fifth chapter, the heart of this research paper, analyzes the trade relations between the EU and Latin America through a gravity model, identifying the obstacles and barriers to international trade between the two regions. The second part of this chapter discusses institutional factors, which, as a result of the conclusions from the gravity model explained earlier in the chapter, play an important role in international trade between Latin America and the European Union. This section contains a comparative analysis of the situation of the institutional factors in the 29 Latin American countries which were analyzed in the gravity model. This chapter also includes a trade simulation between the Czech Republic and Latin America with the institutional factors in Latin America showing a 10% improvement. In the sixth chapter, the competitiveness of 17 Latin American countries is calculated using the results of the barriers to international trade through a new method based on the comparison of indicators, ranked by dimension and according to the weight thereof for a period of time. The last chapter focuses on the identification of the variables determining foreign direct investment in Latin America, represented by 29 countries and over a period of time from 1995 to 2011. It considers variables traditionally not considered such as the number of patents registered, the tax rate and institutional factors, which have revealed important explanatory variables as well as those traditionally considered such as GDP, inflation, population, the share of GDP by sector, income level, etc. The last part of this research lists the conclusions reached and proposes recommendations for economic relations policy development between Latin America and the European Union.
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Methodology of the Phillips Curve from the Austrian perspective
Němec, Ondřej ; Slaný, Martin (advisor) ; Čermáková, Klára (referee)
This bachelor's thesis examines the Phillips curve from a few different points of view. It shows the econometric method that was used to construct the Phillips curve and explains why, from Austrian School of economics' point of view, this method isn't a valid approach to examining the nature of human action. It explains the connection between money supply and price level and discusses consequences of monetary expansion. Using the Austrian business cycle theory it explains the true relationship between rate of inflation and rate of unemployment and argues that in the long run, this relationship is positive. This hypothesis is also supported by empiric observation using Niskanen's model of the Phillips curve.
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Economic consequences of the dissolution of Czechoslovakia in 1993
Ječmeň, Tomáš ; Tóth, Andrej (advisor) ; Chalupecký, Petr (referee)
The aim is to analyze the economic and political aspects of the dissolution of Czechoslovakia in 1993 in the context of monetary separation and further analyze its impact on monetary indicators in the Czech Republic and the Slovak Republic. The thesis provides a comprehensive view of the development of relations within Czechoslovakia after 1989 and monetary separation in 1993. First, attention is focused on description and analysis of economic and political relations between the two nations, which are demonstrated in the illustrative examples of the development of Czechoslovakia between 1989 and 1993. Then analyzes the preparation, conduct and impact of monetary separation on the inflation rate, balance of payments, interest rates and foreign exchange reserves, and consequently macroeconomic indicators are compared both newly formed states. The thesis is written for use with the description, analysis and comparison. Based on the analysis, we can conclude that the collapse of the state was no longer possible in 1993 to avoid. It can be concluded that the monetary separation had no immediate impact on the study of monetary indicators. Based on comparison of selected macroeconomic indicators of the countries we were able to demonstrate that in the first years after the collapse of the federation with the Czech economy developed better and more stable than Slovak Republic. Implementation and results of the disintegration of Czechoslovakia and the associated monetary separation can be considered as a basis for solving current problems eg. In any disintegration of the common currency in the European Union or the possible dissolution of several national states. A proper currency separation in 1993 had a negative impact on the development of monetary variables surveyed states.
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Output-Inflation Trade-off After a Quarter of a Century of Inflation Targeting
Kamarád, Martin ; Potužák, Pavel (advisor) ; Kadeřábková, Božena (referee)
This thesis estimates the treatment effect of inflation targeting adoption on inflation, inflation variability, output, and output variability for 25 explicit inflation targeting countries. I implement the propensity score matching methodology that takes into account the problems of non-experimental nature, such as selection bias or selection on observable, and allows me to effectively mimic properties of randomized experiment and compute unbiased treatment effect estimates. I introduce a variety of propensity score matching methods that were recently developed in the treatment effect literature, including Nearest Neighbor, Radius matching, Kernel matching, and Inverse Probability Weighting. The results indicate that both industrial and developing inflation targeting countries exhibit lower inflation levels and at the same time higher output growth than non-targeting countries. The estimates are however in most cases statistically insignificant. Moreover, it appears that both industrial and developing countries achieve combination of lower inflation variability and output variability compared to non-targeting countries. Nonetheless, majority of the estimates are again statistically insignificant. The results are to a small extent sensitive to the choice of propensity score matching method. Radius matching with tight calipers (r=0.005, r=0.001) tends to provide the most reliable estimates. Balancing properties of the models are reasonable and compared to the previous research the standardised biases are quantitatively better.
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Deflace - skutečný problém k řešení nebo nevyhnutelný důsledek globalizace?
Mudra, Martin ; Žamberský, Pavel (advisor) ; Villaverde, José (referee)
The aim of this paper is to examine the striking inverse co-movement of decreasing inflation rates and increasing degree of globalization in developed economies during the current wave of globalization beginning in the 1980s. Our analysis stands on theoretical identification of channels through which globalization affects inflation in developed economies and the role of monetary policy in the process. Econometric estimation of the impact of advancing globalization on the rate of inflation carried out on a sample of high-income OECD countries over the years 1980 - 2013 supports our hypothesis that advancing globalization has a significant negative impact on the rate of inflation in advanced economies.
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