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The PPP Concept: A Critical Evaluation
Chadimová, Kristýna ; Ježek, Tomáš (advisor) ; Munzi, Tomáš (referee)
Diploma thesis deals with the implementation of the public private partnership concept in Czech Republic. Its primary aim is to highlight risks of the PPP concept. Thesis describes theoretical and practical risks of the concept and concludes that the threat of risks is much more significant when the PPP concept is implemented in insufficiently suitable environment. In the practical part the thesis finds an answer to the question whether the PPP concept is suitable for implementation in the Czech Republic. By analyzing the legal and institutional environment and factors such as public procurement, corruption, transparency and public finances, the thesis demonstrates that under current conditions the implementation of the PPP concept is not suitable in Czech Republic. Conclusions are confirmed by analysis of PPP concept implementation. Finally, the thesis pronounces recommendations about the future application of the PPP concept in Czech Republic.
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Competitive trends on the market with mobile services in the Czech Republic at the beginning of the 21st century
Knollová, Veronika ; Císař, Jan (advisor) ; Munzi, Tomáš (referee)
Diploma thesis analyzes market with mobile services in the Czech republic. Goal of the thesis is to answer the question, if chosen solution by Czech Telecommunication Office is optimal for increase of competition on the market. Theoretical part firstly is concerned with state interventions (and so licensing) from the point of view of well-known economists. Secondly, then the historical process of telecommunications in United States and in Europe is outlined. Finally, legislation and its current changes are mentioned . Practical part introduces market using Porter's model of five competitive forces, PEST analysis and SWOT analysis. Special chapter is dedicated to foreign mobile markets in chosen countries (in Germany and France) and compares them to the Czech one. Empirical and theoretical data doubts that the effective competition on the market can be achieved by licensing and so auctions.
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Regulation of Electronic Communications
Rosenberg, Jan ; Císař, Jan (advisor) ; Munzi, Tomáš (referee)
The purpose of my diploma thesis is to determine whether regulation of fixed access electronic communications networks, as defined by the European regulatory framework, leads in Czech market to its objectives to be reached and possibly discuss the reasons for failure. For this purpose diploma thesis analyzed the development of two relevant markets focusing on competition in fixed telecommunications services. The work shows that the purpose of regulation is not completely filled, because there is no reduction in market share of incumbent at both markets. However, it is only because of settings of regulation. However, from the perspective of the end customer, competitive market exists. Author in the end proposes own solution to the problem in the form of deregulation of access obligation.
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Issues of Quantitative Easing
Šimíček, Petr ; Ježek, Tomáš (advisor) ; Munzi, Tomáš (referee)
The purpose of this paper is to evaluate the effects of the non-standard instrument of the monetary policy -- quantitative easing (QE) on the economies of the countries (or currency unions) that use this policy (Japan, USA, United Kingdom, eurozone). This paper pays attention at the QE mechanism description and its macroeconomic context, especially connection of QE with financial markets and real economy. It is shown a wide range of possible impacts on GDP, inflation, commodities, financial assets, financial system stability and expectations within the transmission mechanism. Newest data (2012), studies and paradigms of short run macroeconomics (especially Austrian business cycle theory, new Keynesian economics and real business cycle theory) are used.
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Czech mobile providers market through the eyes of Ronald Coase
Benešová, Tereza ; Šíma, Josef (advisor) ; Munzi, Tomáš (referee)
The diploma work is focused on situation and function of Czech mobile providers market. The theoretical background is based on Ronald Coase's findings. The functionality of theoretical hypothesis is verified and further discussed on the basis of foreign telecommunication markets. Different real economics provide valuable experience concerning identification of possible assets and problems. The acquired information is consequently used for analysis of Czech mobile market. Next to the evaluation of the current situation the focus is given to the planned auction of frequencies. Conditions of this auction are described and the potential influence to future Czech mobile providers market is monitored.
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českyanglickyněmeckyJapan's economic crisis and its parallels to the current financial crisis in the United States
Kolářová, Veronika ; Jílek, Josef (advisor) ; Munzi, Tomáš (referee)
This thesis analysis the parallel between Japan crises in the 90s and the recent financial crisis, which originated in the United States in 2007. A significant part is devoted to analyzing the root causes of the emergence of the Japan crisis and recent financial crisis. Practical part will focus on analysis of economic cycles of these crises, analysis of price behavior on stock and property market, and finaly on analysis of impact of impact of measures taken on subsequent economic development. Conclusion will seek to answer the question whether the United States expect the same economic development as Japan in the nineties.
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Theory of Sovereign Bankruptcy
Štekláč, Jiří ; Ježek, Tomáš (advisor) ; Munzi, Tomáš (referee)
The bankruptcy is examined insufficiently in spite of the fact of its significancy. The aim of this diploma thesis was to define the bankruptcy, examine the economic possibilities of its settlement, analyse causes and consequences of the bankruptcy and find prevention and treatment. The thesis distinguishes bankruptcy of private subject and sovereign bankruptcy. The paradox of the monetary system is shown as primary cause of both private and state bankruptcy. Debt fiat money is created throughout credit expansion which generates malinvestments (Austrian economic theory of monetary cycles) and causes bankruptcies. On the other hand, financial system is based on necessity of permanent harmful issuance of credit fiat money which is issued by commercial banks (not by central banks). Furthermore, diploma thesis uses the criteria of Moody's rating agency as appropriate approximation of secondary causes of sovereign bankruptcy. The next part evaluates the impacts of bankruptcy (sovereign and private) on global financial markets and monetary unions. Credit freeze, run on banks, panics and collapse of the financial system are shown as the most substancial consequences of bankruptcy. In globalized world, the state bankruptcy is not isolated event. Financial institutions in other countries can be possible holders of devaluated (government) bonds. This study evaluates the impact of the bankruptcy on the monetary union. Currency devaluation is a common instrument of facing the consequences of bankruptcy which is not applicable in case of membership in monetary union. So, the bankruptcy of one member affects entire monetary union. In the next step, the study aims to examine topic of institucional solution of sovereign bankruptcy. Thesis uses private bankruptcy law (specifically Czech Insolvency Act) to formulate the possibilities of state bankruptcy settlement. Bankruptcy (In Czech: Konkurz), Reorganization (In Czech: Reorganizace), Debt clearance (In Czech: Oddlužení), Restructuring (In Czech: Restrukturalizace) and Fusion-acquisition (In Czech: Akvizice a fúze) are analyzed as options of sovereign bankruptcy solution. The instances of some threaten European countries are analyzed in the last part of thesis.
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The Reform of Financial Markets after the Financial Crises in USA and the Rest of th World
Bohoněk, Jakub ; Jílek, Josef (advisor) ; Munzi, Tomáš (referee)
This thesis deals with the problem of recent financial crisis and possible ways to prevent it from returning in the future. The basic document here deals with the changes made by US government and their comparison with set of laws from the time of the Great Depression. This comparison results into proposal of some further changes. The last part deals with the systematic flaw of credit expansion a offers a solution based on principles of the Austrian school modified to correspond more closely with current system
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Alternative Remuneration Schemes of Authors Creations
Drápela, Jan ; Munzi, Tomáš (advisor) ; Chalupníček, Pavel (referee)
In recent years there has been a rapid development of high-speed Internet which brings many changes in the perceiving of copyright. Internet lowers the cost of acquiring multimedia content, often through illegal channels. The authors thus losing their source of income with which to reconcile and have no intention of using representative organizations and associations are trying to minimize losses caused by new situations. This work describes the current system of copyright protection systems and remuneration schemes (Private Copy Remuneration) and describe an alternative basis (Culture flat-rate, DRM - Digital Right Management, Connection Regulation) and evaluated in terms of efficiency and fairness. The analytical part deals with the Czech version of the Private Copy Remuneration. Compares the level of EU countries and assess its adequacy. It also analyzes the transaction costs of reallocating back to the authors. Finally, evaluate the current model and proposes an alternative.
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Common Agricultural Policy and Government Interventions in Wheat Market
Dittrichová, Kateřina ; Munzi, Tomáš (advisor) ; Ryvolová, Ivana (referee)
This bachelor thesis analyses Common agricultural policy of European Union, its benefits and negative impacts in the Czech Republic. The aim is to outline what consequences were brought by joining the European Union in agriculture, rural areas and foreign trade. The thesis focuses on one of the main commodities -- wheat, which is the bearer of all changes in rural economy. First it understates reasons and motives for establishing CAP and negatives leading to series of reforms. Next part provides information about individual reforms. This thesis focuses also on development of agriculture in the Czech Republic in various periods before joining the European Union. Thereinafter it describes impacts of CAP on agriculture, rural areas, prices of products, consumers and foreign trade. In the end this thesis suggests perspectives of Common Agricultural Policy in reference to political attitudes and impulses from member and non-member states.
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