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Theory of optimal currency areas and its implications in practice
Havičová, Aneta ; Žamberský, Pavel (advisor)
The submitted thesis focuses on the Economic and Monetary Union and its stability or instability with respect to theory of optimal currency areas. The aim of the thesis is to evaluate whether the current euro area is the optimal currency area, what possible ways of reducing the costs of the common currency exist and what are the economic consequences of a potential breakdown of the Economic and Monetary Union. The analysis of the theory of optimal currency areas is the subject of the first part of this thesis and its criteria are evaluated in the second part. The second part then deals with the economic implications of this theory in practice.
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Mundell-Fleming model. Application to the Czech economy.
Bouda, Milan ; Pánková, Václava (advisor) ; Křepelová, Marika (referee)
Interpretation of Mundell-Fleming (M-F) model is very similar to IS -- LM model. The main difference is that M-F model is based on an assumption of small open economy. This openness is making this model more realistic then IS -- LM model. These assumptions are suitable for Czech economy. In this thesis, model is estimated and interpreted. The most important is an application to Czech economy concerning the period 2002 - 2010. There are ex post and ex ante predictions based on the estimated reduced form of the model. The ex post forecast is used for the purpose of evaluating whether the model is suitable for the prediction. After finding relevant suitability, prediction of endogenous variables is performed in the following four seasons.
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Evaluation of the current status of the preparedness of the Czech economy for the common currency
Rychna, Karel ; Taušer, Josef (advisor) ; Plchová, Božena (referee)
Paper evaluates current status of the preparedness of the Czech economy for the currency Euro. It includes both aspects of the process, i.e. formal preparation and the real convergency. In the field of formal preparation the functioning of EMU is described, based on which current formal status of the czech EMU membership is assesed. The Maastricht criteria are considered part of the formal process as well. On the other hand, a range of real indicators, which are chosen based on various OCA resources is evaluated, giving the full picture of the current situation.
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