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The assessment of price developements of beef in selected EU countries
TUREČKOVÁ, Denisa
The main aim of this thesis is describe and evaluate the price trend of beef in selected countries of European Union during the years 2003 - 2013. In the first part of this thesis you can find theoretical knowledge from the sphere of price or agrarian market. The practical part describes the development of price of beef in selected countries using various statistical indicators and mathematical-economic methods. The conclusion contains a description of the current situation of beef on the world market including its prediction on the basis of international institutions such as the OECD, FAO and FAPRI.
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The Current Financial Crisis Through the Eyes of the Austrian School
Pfeifer, Lukáš ; Ježek, Tomáš (advisor) ; Munzi, Tomáš (referee)
The thesis aims to defend the irreplaceable role of the Austrian business cycle theory in explaining the current financial crisis in the U.S.. Attention is also paid to applied measures of American economic policies and their impact on the elimination of the purification process of the recession. Furthermore, the work deals with the identification of preventive measures, which would reduce the likelihood of the occurrence of economic cycles. Recommendations by representatives of the Austrian School are described as difficult to implement on the basis of number of arguments. In the work are therefore proposed more realistic measures to limit the volatility of the economic cycle, which emanate mainly from the composite price index, which is the subject of this text. The index reflects the price development in all stages of production and should therefore in monetary policy matters replace the current use of price indicators, based on the inflated scale of consumption, taking into account only minimal effects of monetary expansion. The work deals with the calculation of the composite price index for the United States, which used the instrument of Skounsen indicator of gross domestic output. The development of the composite price index in the US is then analyzed and compared with the development of other macroeconomic variables. Based on this examination, we recommend the use of composite price index for monetary policy regime of inflation targeting and the implementation thereof by the Federal Reserve monetary policy.
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Comparation EU15, USA, Japan and Australia via selected macroeconomic indicators
Tůma, Pavel ; Vostrovská, Zdenka (advisor) ; Halás, Vladimír (referee)
The goal of this essay is analysis of important indicators which will be subject of comparation,their values reflects in competitiveness. This essay contents too recommendation for economic policy for future.Essay is separated to seven chapters.The first discuss about characteristics of comparative economic areas, the second one describes gross domestic product, mainly progress and structure.The third charapter analyses prices from comparative price level, rate of inflation to individual items of consumer price index. The fourth chapter refers to general government financial balance, reflection in government liabilities, changes in interest rates and government interventions in social transfers or subsidies.The fifth chapter deals with current account per GDP and nominal exchange rate. The sixth chapter judges unemployment rate and labour productivity of economic sectors. The last chapter includes ratings of economics by additional indicators like Human Development Index or Corruption Perceptions Index.
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Inflation targeting in the Czech Republic and selected countries
Tůma, Petr ; Czesaný, Slavoj (advisor) ; Ryvolová, Ivana (referee)
The Czech National Bank adopted an inflation targeting approach after the change rate turmoil in 1997. It went about a new strategy that was known only in a few developed countries. Monetary policy is being realized by directly targeting on its final object (price stability). I analyze the developments of consumer price index, inflation expectations, prognosis of inflation and other economic values, because I determine, if the inflation targeting is a correct alternative for monetary policy in case of Czech Republic, Slovakia and United Kingdom. I can tell that changeover on inflation targeting has being guaranteed a stable economic setting with a low measure of inflation, but results confirm that. This is important for our entrance into monetary union.
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Svensson, Bernanke and Inflation Targeting in Central Europe
Maršál, Aleš ; Czesaný, Slavoj (advisor) ; Potužák, Pavel (referee)
This paper focuses on controversial issues of inflation targeting. The study is based on Svensson?s and Bernanke?s theory which is applied in case studies of Czech Republic, Poland and Hungary. Understanding of actual performing of inflation targeting allows us to interpret correctly econometric and statistics analysis. The object of the thesis is to decide if the central European countries should rather follow Bernanke?s or Svensson?s theoretical conclusions. Brief summary of historical development explains reasons for implementing of inflation targeting. Next, Bernanke?s and Svensson?s definition of inflation targeting is mentioned and the differences are further analyzed. In particular, the choice of price index, understanding of price stability, lags of monetary transmission mechanism, the choice between band and point target. The last part of the thesis deals with intermediate target examining the performance of central bank and market forecast.
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