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Economic and Political Consequences of Collectivization in Czechoslovakia
Pučelík, Karel ; Chalupecký, Petr (advisor) ; Johnson, Zdenka (referee)
This work aims to analyze the consequences of collectivization in czechoslovak agriculture. Reporting period is between 1948-1960. In the theoretical part are described political and economic motives and condition of czechoslovak agriculture. In the practical part contents development of collectivization and impact of agriculture reforms on agriculture sector. Reporting period is divided into three parts according to collectivization intensity. In the end we managed to verify the hypothesis that collectivization strongly affected the czechoslovak agriculture.
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The Macroeconomic Impacts of the Selected Oil Shocks in the United States of America
Šikulová, Markéta ; Johnson, Zdenka (advisor) ; Tajovský, Ladislav (referee)
The aim of this study is to analyze macroeconomic impacts of four selected oil shocks on the United States economy and their subsequent comparison. The first part of this study deals with the theoretical background of supply shock, its influence on the economy, and the possible responses of economic policy. Furthermore, in the first part I focus on the historical events that led to the oil crisis, specifically on the OPEC oil embargo imposed on the United States, production cuts caused by the Iranian revolution, Iran-Iraq War and Persian Gulf War and on the demand as well as the supply factors that led to the oil shock of 2007-2008. The second part of this study presents the specific impacts of four selected oil shocks on the US economy and their comparison. Based on the findings, it was possible to confirm the hypothesis saying that past oil shocks, especially those that took place in the 1970's, had more negative impacts on the United States economy in comparison with those that happened more recently. In other words, that the effects of changes in oil prices have lessened over time. There are many reasons of this moderation, but the most important ones include more effective monetary policy response, the decrease in wage rigidities, and more recently also the decline of United States dependency on imported oil.
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Comparison of Selected Impacts of New Frontier and Great Society Programs in 1960s
Kojan, Christian ; Johnson, Zdenka (advisor) ; Fabianková, Klára (referee)
This thesis deals with New Frontier and Great Society programs and their impact on social policy of the United States in the 1960s. The main goal of the thesis is to compare impact of both programs on selected indicators of standard of living with primary focus on the poverty rate. Thesis describes antipoverty measures of both programs and analyzes their impact on the standard of living. Hypothesis stating that the Great Society was more successful than New Frontier at reducing the poverty rate could not be proven true because of the immense influence of strong economic growth in the 1960s. Thesis suggests that the biggest success of both programs was the positive impact of the Great Society on education.
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Fed's Easy Money Policy during Alan Greenspan's presidency in Board of Governors (1987-2006)
Mašek, František ; Johnson, Zdenka (advisor) ; Tajovský, Ladislav (referee)
The main theme of the work is the Fed's monetary policy during the time, when chairman of the Board of Governors was Alan Greenspan. The greatest attention is aimed at the influence of Fed's expansive monetary policy on the so-called dot-com bubble and later mortgage crisis, which subsequently developer into the financial crisis. Through a thorough analysis of many scientific papers written by known economists and my own analysis and evalution I opine that the effect of expansionary monetary policy on the bubble in technological assets and mortgage crisis is rather minor. Fed subordinated all actions to achieve its monetary policy objectives, so criticism of its conducted monetary policy is essentially a critique of these objectives as such. I consider the emergence of new technologies and the so-called theory of feedback as the main cause of dot-com bubble. In the mortgage crisis and subsequent financial crisis as main determinants I consider reluctance of goverment officials strongly regulate activities of investment banks and other investment companies, moral hazard, failure of rating agencies, and federal support for home ownership coupled with the deregulation of the financial sector.
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A Great Depression and Great recession: The Impact of US Monetary Policy
Kinský, Jiří ; Johnson, Zdenka (advisor) ; Tajovský, Ladislav (referee)
The thesis analysis the primary causes of the Great Depression and Great Recession in the US. The author is looking for common signs of these crisis with special attention to monetary policy, which is considered as a crucial. The author aims to analyze economic and political measures that accompanied the crisis. The first part deals with the Fed policy including its origin, the roaring twenties, the stock Exchange crash, anti-crisis economical and political measures during the crisis and there is also written about the theoretical interpretation of the different schools of economics. The second part deals with causes of Great Recession, the government sponsored enterprises, the housing bubble or federal emergency programs. Further, it discussed the credit expansion and the Fed´s policy and in the end the author offers an comparison of both crisis and presents his own view on the issue.
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Vznik nové střední třídy jako výsledek reform Stolypina v 1906-1911
Turenko, Polina ; Szobi, Pavel (advisor) ; Johnson, Zdenka (referee)
The thesis features development and implementation of the agrarian reforms process in the economic and socio-legal context, directed on formation of peasant owners middle class, are analyzed. General approaches to solution of the Russian Empire agrarian and peasant questions are reviewed. Problems of private ownership features in the Russian Empire and influence of communities on economic activity, spiritual traditions, law commitments and life of the Russian peasantry are investigated. Economic and social-legal position of the peasantry before Peter Stolypin reforms are esteemed. Using historiographical, comparative and statistical methods there are introduced key figures that characterize state of the economy and social progress in the peasantry situation. The reforms resulted in rapid agricultural production growth, the internal market expansion, agricultural products export increase. However, the main achievement of the reforms, in my opinion, is inclusion of the Russian peasantry of the early twentieth century into land-market and economic market-capitalist relations, that have served as the basis for a middle class formation in the Russian Empire.
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Easy Money Policy of the Federal Reserve System in the 1990s
Pospíšil, Petr ; Johnson, Zdenka (advisor) ; Tajovský, Ladislav (referee)
This thesis focuses on monetary policy of the Federal Reserve System in United States in the 1990s. The emphasis during the analysis is put on recession of 1990-1991 and occasions which lead to market speculation, followed by US economy stagnation after its burst. I deeply analyzed the issue and contradictory opinions of renowned economists I conclude that American central bank's decisions during 1995-2000 contributed to the increase of stock market speculation. Nevertheless, these decisions were made in consistency with then crises of domestic and global economy with the aim of ensuring price stability and economic growth. Hence, my conclusion is that monetary policy of American central bank did not exactly cause the crisis, it was mainly investor's exuberance due to wave of new technologies emerging in the 1990s.
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Comparison of the Process of Transformation of the Banking in Czech Republic and the Slovak Republic
Hulena, Albert ; Chalupecký, Petr (advisor) ; Johnson, Zdenka (referee)
This work aims to analyse the development of banking systems in the Czech Republic and the Slovak Republic which followed after the splitting from the former Czechoslovakia. The theoretical part of the work describes the initial situation that is the centrally planned economy and the central banking in Czechoslovakia. Furthermore, the research methods on the basis of which the success of transformation in both countries will be compared are stated. The practical part is devoted to banking after 1989. First, it analyses the joint office of the states between the years 1989 - 1992. Further, it compares the two banking systems in the course of 1990s according to specified criteria, up to the beginning of the new millennium when the privatization of the largest banking institutions was finalized. In the end, we managed to verify the hypothesis that the Czech banking transformation has been more successful than the Slovak one.
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Czechoslovak foreign trade with countries of the European Community in the period 1969 - 1989
Vach, Tomáš ; Szobi, Pavel (advisor) ; Johnson, Zdenka (referee)
This paper discusses the importance of Czechoslovak foreign trade with the EEC countries for the period of normalization. In the theoretical part, the author defines the issues of foreign trade. It deals with the variety of business concepts, tools of trade policy and the overall importance of international trade for the economy. In the analytical part describes the main organizations affecting foreign trade relations of Czechoslovakia after World War II, relations between the two organizations, bipolar division of the world and the position of Czechoslovakia in world trade. In the second part, the author analyzes the overall Czechoslovak foreign trade, territorial distribution and commodity structure of exports and imports. The last part focuses on the evaluation of the importance of trade with the EEC Member States, its development and shortcomings.
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Analysis of the Factors of Collapse of the Bretton Woods Monetary System
Havlíček, Jiří ; Johnson, Zdenka (advisor) ; Chalupecký, Petr (referee)
This bachelor thesis focuses on the Bretton Woods monetary system which was the important factor influencing the international economic situation since the end of World War II until the beginning of the 1970s. Specifically, the thesis focuses on the analysis of factors which led to the collapse of the Bretton Woods monetary system and tries to answer the question if the main reason of the collapse was irresponsible fiscal policy of the USA. In the first part, there is a description of creation, final version of the Bretton Woods agreement, and key institutions of the system. Main part of thesis is divided into the three subchapters. Each one adresses one of the three major problems of the Bretton Woods monetary system, which were adjustment problem, liquidity problem, and confidence problem. There is an analysis of causes and consequences of each issue. Conclusion of the thesis is the statement that fiscal policy of the USA was not either underlying, or original cause of the collapse of the system, however the fiscal policy of the USA worsened the situation and greatly accelerated the collapse of the system. But it is not possible to identify the key problem, the issues were too much interrelated to determine the most critical.
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