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Temporary help industry in the Czech Republic
Víchová, Šárka ; Svoboda, Miroslav (advisor) ; Brožová, Dagmar (referee)
In recent years, temporary help industry has been associated with the rapid growth in world markets. Temporary help agencies, which supply a flexible workforce to client companies, are undergoing significant development. This paper examines the nature of temporary help industry in the Czech market, focusing on the factors driving the industry's growth. This sector is examined from three perspectives (demand side, supply side and legislative) using a questionnaire survey carried out in the June-August 2011. The results confirm that in the Czech Republic, as well as in the world, is the main reason for cooperation of companies with temporary help agencies the requirement of temporal flexibility. But compared to Europe-wide trend, in our market there is a greater appeal for the regulatory flexibility. The biggest disincentive of the development of temporary help industry is strict legislative conditions.
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The Deadweight Loss of Christmas in the Czech Republic
Rottová, Tereza ; Janíčko, Martin (advisor) ; Svoboda, Miroslav (referee)
Gift-giving is a potential source of deadweight loss (DWL), which is by the standard microeconomic theory regarded as a loss of economic efficiency. The aim of this thesis is to determine how big was this DWL in the Czech Republic during Christmas of 2010. The DWL of gift-giving is based on the data collected from a questionnaire survey of 122 respondents who provided 366 observations. Respondents were asked to estimate the value of their gifts, based on their willingness to pay for them and their willingnes to sell them. The results indicate that there is deadweight loss of gift-givnig in the Czech Republic, ranging between 8,6 % and 10,9 % of market price.
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Are the government subsidies to agriculture actualy in the interest of consumers?
Mahdalíčková, Lenka ; Hudík, Marek (advisor) ; Svoboda, Miroslav (referee)
This bachelor's thesis investigates an influence of agricultural grants over the eating habit of Czech consumer. Increasing world-wide trend of overweighted people is very obvious also in Czech republic. This thesis therefore tries to discover, whether there has been a correlation between agricultural production and structure of the consumers diet. Although considerable dependence of agricultural production on grants was proved, it can't be said that the grants themselves are primary cause of the wrong eating habits. At the close of the thesis is proven that a demand after foodstuff is non-elastic, consumer's preferences can be thus affected by grant policy only slightly.
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Strategies in pay-per-bid auctions
Podešva, Jiří ; Svoboda, Miroslav (advisor) ; Dudáková, Tereza (referee)
In this paper I analyze pay-per-bid auctions. On the bids made in auctions I research strategies of players. I confirmed the hypothesis that players timed signal bids. I have demonstrated that shortening the interval extension auction decreases signaling in the auctions. Then I haven't demonstrated reduction signaling in beginner auctions. I also concluded, that the benefits in form of restoration of half used coupons for the player who was at the second place, doesn't increase the average number of bids made in auctions. My final conclusion is that the auctions with cheaper goods introduce on average higher returns for auctioneer than the auctions with more expensive goods.
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Estimation of household total risk
Frömel, Jaroslav ; Koblovský, Petr (advisor) ; Svoboda, Miroslav (referee)
The thesis focuses on estimation of household total risk exposure and factors affecting this estimation. The risk is represented with a financial loss of 20k CZK in the next month and with a financial loss of 50k CZK in the next 12 months. Nearly a half of participants in the survey (n=55) estimates the likelihood of this financial shock as being low, however the number of participants with high estimate increases for the next 12 months. The estimate of total risk exposure increases with age, for self-employed and single parents, next with income and assets, however overall wealth decreases the estimate. Significant factors are education, financial behaviour and cognitive abilities which all have a decreasing effect on the estimate. Availability is considered as significant having a positive effect while biased evaluation of risks has a negative effect. Time preferences can play an important role in the estimation of a long-term risk.
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Currency crisis in Czech rep. in 1997 and its alternative scenarios
Otřísal, Gabriel ; Skopeček, Jan (advisor) ; Svoboda, Miroslav (referee)
This paper is dedicated to the first currency crisis in the Czech republic, which took place in 1997. It analyses the period perceding crisis, the development of the very crisis and its impacts. The main aim of this paper is to identify the crisis' roots and to map them. On this ground it consequently forms a hypothesis, that with a different mix of monetary and fiscal policy, nonexecution of currency interventions or with a sooner abandonment of the pegged exchange rate, we could have witnessed a different scenario. The paper is also complemented by a binary model of currency crisis prediction and an interview with a participant of the 1997' events.
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Measurement of development of business cycle according to the Austrian school of economics
Svatoňová, Martina ; Svoboda, Miroslav (advisor) ; Mičúch, Marek (referee)
In the introduction of my work, I will focus on the presentment of the Austrian School and its main representatives. The work analyzes the Austrian business cycle theory, which is based on subjective utility theory and uses the knowledge of Austrian capital theory, monetary theory and the theory of prices. Austrian business cycle theory is based on the general economic theory. This theory suggests that the real interest rate is the market price. As a result of the change in this rate there is a variation in relative price which coordinates the time structure of production. The theory examines the production of higher order and lower order goods as well as the right to change the production of higher order goods to recognize the economic process which disrupts the structure of the economy. The main goal of this work is to identify the economic indicators which can be used to measure and predict the course of the business cycle in the conception of the Austrian school of economics. The theoretical findings are the basis of the practical part of this work. In this section I will try to answer the question whether the current economic crisis fits into the concept of the Austrian school of economics or not.
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Did Hayek repudiate his own theory of business cycle?
Komrska, Martin ; Potužák, Pavel (advisor) ; Svoboda, Miroslav (referee)
This bachelor thesis answers the question, whether F. A. Hayek repudiated his own theory of business cycle by abandoning his previous criticism of stabilization of the price level. This paper introduces Hayek's business cycle theory as the part of the positive theoretical analysis, so its conclusion does not have to be also proposal for monetary policy. Hayek perceives money neutrality as a theoretical ideal, which cannot be achieved in the real world. Later, he also introduces an alternative aim of monetary policy -- the stability of the purchasing power of money. The publication Denationalisation of Money is an instruction for achieving this goal and so it is not in conflict with Hayek's business cycle theory. The relation between stability of purchasing power and smooth progress of the economy is substitutional and only competition among currencies will show, what type of mix do people prefer. Hayek's later declaration signifies that his business cycle theory is not able in itself to explain disasters such as the Great Depression.
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Forecast of the Future Development of the Current Business Crisis Using Tools of the Austrian School of Economics
Sehnalová, Tereza ; Svoboda, Miroslav (advisor) ; Mirvald, Michal (referee)
This paper is based on the theoretical framework given by the Austrian Business Cycle Theory. This theory explains clearly the causes, process and consequences of trade cycles that are inevitable parts of modern economies. Based on this framework, there was built a model trying to illustrate the impact of indicators standing behind the origin of business cycles on production structure of the USA examined on monthly data from years 1984 to 2009. The results of this model are conformable with predictions given by the Austrian Business Cycle Theory. Despite this, it is not possible to predict the future development of the US economy till the end of 2010 using this model, due to many problems that minimize relevance of such forecast. Nevertheless, it is possible to make prediction using the theory explained by the Austrian school of economics.
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The function of money in business cycle theory
Smejkal, Tomáš ; Janíčko, Martin (advisor) ; Svoboda, Miroslav (referee)
This bachelor thesis is dealing with the topic money and especially emphasizing its function in business cycles. An ambition of this thesis is to resolve dilemma if money, as an important instrument in the real economy, can influence the fluctuation of economy. This thesis is based on the comparison of two distinct schools of economic thought- Post Keynesian and Austrian school. Both approaches despite different opinion on creation and function of money refuse the theory of money neutrality. The phenomenon of deflation is regarded equally from both schools, but Post Keynesian approach, which comes from a work of Irving Fisher, emphasizes negative impact of real debt increment on economy. On the other hand, Austrian School is aware of the unavoidable nature of deflation as a result of boom period, but by avoiding deflation the healing process in economy would be significantly slowed down. Thesis is then focusing on examination of allocation mistakes among individuals. Individuals are making mistakes, but Austrian theory demands further explanation of systematic framework of these mistakes. This view is applied on Minsky's financial instability hypothesis and institutional structure with emphasis on risk and creation of financial instruments. Last stadium of analysis is dealing with particular character of money supply. The Austrian perspective is discussed with reference to Post Keynesian theory of endogenous money and consequent repercussions for Austrian business cycle theory are highlighted. Even in the case that endogenous money theory infirm some of the aspects of Austrian cycle theory the methodological conflict occurs. On the basis of these particular comparisons the conclusion will try to decide if the business cycle is inherently present in every economy or if it is mainly caused by state interferences.
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