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Uncertainty in macroeconomics : making RBC path dependent
Rozsypal, Filip ; Sojka, Milan (advisor) ; Cahlík, Tomáš (referee)
Mainstream and alternative notions of uncertainty, time and expectations in economics are discussed. Then the consequences of relaxing some of the assumptions are examined. The relevance of the methodological issues is brought up, when economic theories are employed to deal with real economic problems. It is argued that the assumptions should be realistic. In second part of this text, it is demonstrated how a mainstream neoclassical model can be enriched with more realistic assumptions in line with the previous argumentation. The model is then analyzed using impulse response functions, simulations and long run variance of generated time series. The model manifests interesting behavior, such as path dependency. The higher persistence and lower variance can be interpreted as evidence against a view that technological shocks are main sources of business cycles. Powered by TCPDF (www.tcpdf.org)
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Different approaches to money endogeneity within postkeynesian economics : reinterpretation into more general theory
Lopušník, Ondřej ; Sojka, Milan (advisor) ; Mertlík, Pavel (referee)
The theory of endogenous money supply forms one of the cornerstones of postkeynesian economics. It has been developing rapidly during the last twenty years, but is still neglected as a theoretical background for practical central bank policy. This may be due to the existence of different approaches to money endogeneity within postkeynesian economics. Postkeynesian economics thus lacks a general formulation of money endogeneity. Naturally, we may ask whether reinterpretation of current approaches to endogeneity - structuralism and horizontalism - into more general theoretical framework is possible. This thesis aims at finding answer to this question. It is critical to Fontana's attempt to reinterpret structuralism and horizontalism into more general theory. In my opinion, Fontana misinterprets differences between the two approaches and focuses on their graphical representation too much. Regrettably, the second approach to reinterpretation based on detailed analysis of cross-differences shows that differences, some of them very serious, between horizontalists and structuralists still prevail. I come to the conclusion that so far the reinterpretation of structuralism and horizontalism into more general theory is not possible, thus rejecting my initial hypothesis. Powered by TCPDF (www.tcpdf.org)
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Corruption practices in Bulgaria during the transition and the impact of the EU accession
Velikov, Svetlozar ; Cahlík, Tomáš (advisor) ; Sojka, Milan (referee)
It is now widely recognized that corruption is harmful for economic growth, that it decreases enormously the effectiveness of aid and that it increases poverty. Corruption is a fundamental obstacle for economic development. In Eastern Europe, the radical shift in economic and political systems that occurred after 1989 made existing forms of corruption more visible and opened opportunities for new forms of corrupt practices. Bulgaria is a striking example of a country which was on the edge of economic and political collapse in the mid nineties because of the skyrocketing corruption practices in particular spheres of economic political and social life. Nowadays, ten years after the big crisis Bulgaria is a full fledged member of the European Union (EU) but even in this new reality the struggle against corruption remains the main challenge before the new governments. This thesis will outline and analyze the genesis and uncontrolled growth of corruption processes in Bulgaria during the transition period. It will provide a vast theoretical framework of the issue with definitions spheres and forms of corruption as well as a view on the corruption as a phenomenon of the transition countries. Anticorruption strategies and measures to tackle and overcome corruption in Bulgaria will be examined together with...
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Geographical indications in EU and key lessons for Korea
Kang, Bo Won ; Cahlík, Tomáš (advisor) ; Sojka, Milan (referee)
The objective of this paper is to analyze how the treatment of GIs has been made by European countries and what Korea needs for future GIs development. Though the GIs are not only new emerging intellectual property for the deal trading card but also the method for economic value added products, the impact of Geographical Indications on the Korea economy has not yet been searched much. Therefore, this paper is to investigate GIs conception, functions with wide range benefits, existing legal means, historical development and GIs extension dispute of GIs in EU because GIs have been established and developed with European history and their experiences can be good guidelines for us. More importantly, case studies would highlight one or more important aspects of how GIs are interpreted and problems of which are solved in various conditions. And the current protection of GIs and barriers to GI system in Korea are also studied for the improvement for Korea GIs. The outcome of GIs superior quality may result either from natural geographic advantages such as climate and geology or from human capital in GIs manufacturing. Thus, the strategy to quantify the prospective competitive factors of GIs in Korea with should be focused on further with legal backing.
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The privatization process in the russian Federation 1992-2001
Kavreva, Anastasiya ; Sojka, Milan (advisor) ; Cahlík, Tomáš (referee)
The property relations reforms are seen as the main elements of the post-socialist market transformation. As a result of the economic reforms carried out in the Russian Federation during the last ten - fifteen years, the fundamental changes of the ownership structure have occurred: the enterprises of different ownership forms have appeared, gradually the efficient owner and efficient corporate governance structures are appearing, the state is accumulating experience in carrying out economic policy in capitalist market economy. The aim of the thesis is to examine the process of privatization in the Russian Federation during the period of 1992-2001. The problems that I treat in the thesis are: the state of the Russian economy at the beginning of 1990s and the heritage of 'perestroika'; the first steps towards a free market economy; three stages of the privatization in Russia; main economic results of privatization and social aspects of privatization. The thesis consists of three chapters. The first chapter is devoted to the state of the Russian economics at the beginning of 1990s and to the "perestroika" heritage. It covers first steps towards market economy and analysis of first 'market' legal acts that served as a criterion for the completion of the preparatory stage and a foundation for introduction of the...
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The role of direct foreign investments in the Russian economy
Karmalkova, Evgeniya ; Sojka, Milan (advisor) ; Cahlík, Tomáš (referee)
Today, the urgency of inflow use of foreign capital investments in the Russian economy is obvious. The aspiration for openness of the economy, increase of the competitiveness of national industries, reestablishment of the confidence in the world market, the participation in the international financial exchange cause the necessity to create conditions for attraction of foreign investments. One of the major problems of reforming and modernization of the Russian economy is the ability to attract foreign direct investments. As considering serious technological gap of the Russian economy in the majority of positions, the foreign capital which could bring new (for Russia) technologies and modem methods of management is simply of utmost importance for Russia. The inflow of foreign capital investments is vitally important for the achievement of such purposes, as a way out from crisis and a basis for initial development of the economy. The Russian public interests cannot always coincide with the interests of foreign investors. It is important to involve capitals in a way that does not deprive their owners of motivations, and at the same time directing actions of investors for the welfare of the public purposes. The aim of my thesis is the complex research of a role of foreign direct investments in the economy of...
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