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Living Standards Measurement Using Income and Expenditure for the Czech Republic
Tachovská, Tereza ; Janský, Petr (advisor) ; Soudek, Jan (referee)
(in English) The aim of this thesis is to show the differences in results regarding living standards when using income and expenditures in the Czech Republic. The main factor which leads to inaccuracy in the results when using only income is consumption smoothing. The thesis examines income and expenditure inequality and poverty between 2001 and 2011. Each measurement uses more measures (coefficients, indices, etc.) to gain the most comprehensive impression possible and to avoid possible deficiencies. Namely, the head count ratio, the aggregate poverty gap, the Sen index and the Takayama index for poverty, and the Gini coefficient, the coefficient of variation and the Theil index for measuring inequality are used. An analysis of the relationship between average income and expenditures shows that average monthly income was higher than expenditures. The trend in inequality was more or less the same for income and expenditures when considering the whole population (constant or increasing depending on the measure used); with regard to the inequality of pensioners, the results were quite different depending on the measure. Expenditure poverty for the whole population exceeded income poverty, whereas for pensioners' households it was the other way around. The whole population, poverty was relatively...
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Firms and Tax Havens: Evidence from the Czech Republic
Burianová, Markéta ; Janský, Petr (advisor) ; Paulus, Michal (referee)
The aim of this thesis is to provide a description of the phenomenon of tax havens in relation to the Czech Republic. The thesis begins with description of theoretical background of the problem. It provides definition, characteristics, and an overview of main uses of tax havens by Czech firms. This part is followed by analysis of Czech firms controlled from tax havens in order to determine what type of firms is most often leaving the Czech Republic. The analysis showed the largest interest from limited liability companies and companies operating in real estate. The next part of the thesis presents an estimate of tax loss arising from tax haven activities of Czech subjects. It is the first estimate of this kind for the Czech Republic. The resulting tax loss is estimated to be 21 billion CZK per year, which equals to approximately 10% of annual tax revenue from corporate and personal income tax. The thesis is concluded with an overview of counter-measures that are taken worldwide and in the Czech Republic as means of combating the rising phenomenon of tax havens.
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Measuring living standards with income and expenditures in the Czech Republic: how much does treatment of housing costs matter?
Vach, Daniel ; Janský, Petr (advisor) ; Jašová, Martina (referee)
The topic of this thesis is income and expenditures inequality and poverty in the Czech Republic between 2006 and 2011. For this purpose, I used three concepts of income and expenditures. They vary in accounting for housing costs. The inequality and the poor household's group composition differs based on the chosen concept. The first concept accounts for consumption flow from housing derived from market rents paid in similar dwellings. This thesis examines this concept closely because it has been used on the Czech dataset for the first time. Next concept includes the real housing costs and the last concept deducts housing costs completely to compare living standards of households without distorting housing costs. Income and expenditures inequality and poverty are examined based on these concepts. The results show that the share of the poor in the population slightly increased in the monitored period and especially between 2010 and 2011. Inequality remained approximately the same for all income concepts but slightly rose for all concepts of expenditures. This fact proves the necessity of additional measure to income. As regards poverty, the most endangered is a household of lone parent with children, and children generally. Attention is paid to regulated rent tenure type and the deregulation process. I study...
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Estimating the Extent of Inefficiencies in the Czech Health Care System
Pachovský, Tomáš ; Janský, Petr (advisor) ; Paulus, Michal (referee)
In this thesis, we tried to find possible methods of estimation the extent of inefficiencies in healthcare and apply them on Czech data. We reviewed recent literature on this subject and from the literature we selected 3 methods that were used in this thesis. We estimated that costs of error and fraud concerning payments and provision of care in 2010 is roughly between 9,5 to 25,8 billion CZK, extra treatment for people abusing prescription opioids cost approximately 247,8 million CZK in 2011 and that costs of unnecessary use of C-Section in 2011 amounted to 184,4 million CZK. We also broke down the 2010 Czech healthcare expenditures and compared indicators across countries to uncover other possible problems.
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Inflation targeting and inflation perceptions: an empirical analysis
Klubíčková, Kateřina ; Horváth, Roman (advisor) ; Janský, Petr (referee)
In this thesis I examine the effect of introduction of inflation targeting as a monetary policy regime on the difference between actual inflation and perceived inflation. Perceived inflation is used in the analysis in contrast with previous research, because inflation perceptions are extracted from consumer surveys conducted in individual European Union countries on the whole population sample and thereby enable me to examine the effect that the introduction of inflation targeting has across the whole population. A panel data set of 19 European Union members and 1 candidate, including 7 inflation targeters, is used in the analysis, with monthly information from the period beginning in January 1990 and ending in December 2012. Based on the analysis using fixed-effects model with specific dummy variables to capture the difference-in-differences element, I find that inflation targeters experience lower differences between actual and perceived inflation and that the difference between actual and perceived inflation decreases after the introduction of inflation targeting. Furthermore, various groups divided according to socio-economic characteristics of the consumer survey respondents tend to be affected in a different way by the introduction of inflation targeting, although to a limited extent. JEL...
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Treasure islands: the economic analysis of tax havens
Filip, Ondřej ; Janský, Petr (advisor) ; Adam, Tomáš (referee)
Bachelor Thesis Abstract This thesis strives to introduce a wider notion of tax havens. We alter a traditional paradigm by investigating tax havens' influence on economic performance of other countries. The first part of the thesis copes with issues implied by the absence of a suitable tax haven's definition which results in compiling an inclusive list of havens. Subsequently, we present a data-based description of the identified tax havens with an emphasis on several widely-held assertions. The second part delivers an empirical analysis. It illustrates the role of tax havens as financial intermediaries. We examined whether the volumes of capital flows between non-havens and tax havens correspond to the sizes of the counterpart economies and to their mutual distance. Foremost, we found intensified capital flows between tax havens and large non-haven countries in their close proximity. The thesis concludes by a discussion of results.
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Automotive fuel taxes and cross-border shopping
Kubovič, Jozef ; Janský, Petr (advisor) ; Mikolášek, Jakub (referee)
This thesis investigates the presence of the cross-border shopping for automotive fuel between the Czech Republic and neighbouring countries over the time period from January 2005 to December 2012. Tax rates on fuels were described as one of the main source of price difference between countries that induces cross-border shopping. Using monthly data for diesel and petrol we used error correction model and estimated both long-term and short-term relationships between consumption of fuel in the Czech Republic and prices in Czech Republic and neighbouring countries. We found the evidence of a negative relationship between prices of petrol in the Czech Republic and its consumption as well as a positive relationship between relative price of petrol in Germany upon the consumption of petrol in the Czech Republic, which indicates presence of the cross-border shopping from Germany to Czech Republic.
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Genuine progress indicator and other alternative measures of economic development: First estimates for the Czech Republic
Král, Michal ; Janský, Petr (advisor) ; Janotík, Tomáš (referee)
Nowadys when measuring economic development, the main focus is on gross domestic product, which is a measure of market activity. Genuine progress indicator is an alternative measure of economic development, which shifts focus to well-being, environment and sustainability. The main goal of this study is to construct genuine progress indicator for the Czech Republic. In the first part I point out weaknesses of current measurement of economic progress. Then I address other indicators proposed as an alternative measure of economic development. After that I discuss genuine progress indicator in detail and explain its calculation for the Czech Republic. In the last part I discuss results of my computations and compare it with gross domestic product and with foreign calculations of genuine progress indicator. Keywords Genuine progress indicator, measure of well-being, economic development, alternative economic indicator, gross domestic product Author's e-mail 1michal.kral1@seznam.cz Supervisor's e-mail jansky@fsv.cuni.cz
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Forecasts of the public debt for the Czech Republic
Sentivany, Daniel ; Janský, Petr (advisor) ; Seman, Vojtěch (referee)
Main goal of this thesis is to forecast future trajectory of the public debt level of the Czech Republic when taking into account ongoing fiscal reforms of the government and the after- math of the global financial crisis. A short survey of existing literature concerning fiscal austerity is presented in the first part, followed by the further motivation for the forecast- ing of the public debt level. Second part of thesis focuses mainly on the most important question, which is sustainability of the debt. We found out, that the public debt of the Czech Republic is clearly unsustainable, we also calculated so called fiscal gap to determine the amount needed to sustain it. The last third part contains numerous scenarios showing the future development of the public debt of the Czech Republic starting the year 2003, up to the year 2060. According to our results when assuming that no strict fiscal reforms will be introduced by the government in the following decades, we found that the level of the debt in the year 2060 will exceed 260% of GDP. Keywords: public debt; fiscal gap; public deficit; public budgets; public debt forecast; sustainability; debt consolidation; debt management Author's e-mail: sentivany.daniel@seznam.cz Supervisor's e-mail: jansky@fsv.cuni.cz
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