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Vyhodnocení reálné a nominální konvergence ČR a vybraných států k eurozóně
Dufek, Josef
The main objective is to assess the current situation of real and nominal conver-gence Czech Republic and selected countries of the euro area average. In assessing the real convergence of the work focuses on measuring the synchronization of business cycles and structural convergence. Measuring the synchronization of bussines cycles is done in the spirit of the modern concept of OCA theory. When assessing structural convergence is assessed similarities development of sectoral structures and the intensity of intra-industry trade. In nominal convergence are critical Maastricht convergence criteria and the development of the index CPL. While the analysis of convergence shows a high business cycle synchronization and the convergence trend in most countries and developments in the field of structural convergence points to ongoing differences in industrial specialization among the surveyed countries, which could lead to an increased risk of asymmetric shock in case membership in a monetary union.
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Připravenost zemí střední a východní Evropy na vstup do eurozóny
Bujáček, Jakub
This diploma thesis deals with evaluation of current progress in nominal and structural convergence, and the alignment of the business cycle between CEE countries and Eurozone. Maastricht criteria, indexes of similarities in sectoral structures and theory of optimum currency areas are used for this purpose. There are also used alternative techniques for measuring alignment of the business cycle, which is beneficial to the width of the conclusions that this work produces. Selected techniques indicate process of convergence between CEE countries and Eurozone, but also indicate persisting differences between western and eastern part of EU, which in the case of sharing the common currency leads to the risk of asymmetric shock.
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Model výdajové strany rozpočtu Evropské unie implikovaný z principů teorie fiskálního federalismu
Plaga, Robert
The aim of this dissertation is to propose alterations in the volume and structure of the EU budget in order that the resultant European budget is based on the fundamental principles of the theory of fiscal federalism and the theory of optimal monetary areas so as to cope with asymmetrical economic shocks. The author has stipulated four economic allocation criteria based on the fundamental principles of the theory of fiscal federalism for the purpose of decision-making relating to the inclusion or rejection of individual expenditure categories. In the area of realisation of the redistribution and stabilisation function of public finances, this decision also gave consideration to the theory of optimal monetary areas for coping with asymmetrical economic shocks. The author recommends amending the EU budget by applying economic criteria based on the fundamental principles of the theory of fiscal federalism and on the basis of analysis of the expenditure structure of the current EU budget. Specifically, this should entail the inclusion of expenditure on national defence in the joint budget to an extent of 0.50 % of the GDP of the EU-27 and increasing the volume of "European" expenditure on science, research and development to 0.40 % of the GDP of the EU-27. This proposal further envisages maintaining expenditure on transport infrastructure projects of European importance (0.17 % of GDP), expenditure items in the area of foreign relations (0.067 % of GDP), and on assuring internal security and the judiciary (0.084 % of GDP). This model calculates administrative costs as 6 % of other budget items. In relation to the redistribution function, the author proposes discarding the European dimension of common agricultural policy and concentrating expenditure on policy in the area of economic and social coherence (0.50 % of the GDP of the EU-27) exclusively on support for economically less favoured regions. This model EU budget attaches great importance to the fulfilment of the stabilisation function of public finances by means of a stabilisation mechanism taking the form of a centralised system of unemployment benefits at 1.25 % of the GDP of the EU-27. This specific area of the common budget could also serve as a tool functioning on an asymmetrical basis, creating reserves at times of economic growth that can then be used at times of economic decline. The total expenditure concentrated within the proposed model EU budget has been calculated as 3.15 % of the GDP of the EU-27.
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Questions around the introduction of euro in the Czech Republic
Janna, Martin ; Vopátek, Jiří (advisor) ; Špaček, Martin (referee)
The goal of the thesis is to propose an opinion regarding the accession to the eurozone supported by the analysis of the related benefits and constraints in connection with the current economic and political situation. Allowing to get an idea of what the benefits and downsides of euro adoption would be for them, the gathering of information and arguments suitable for entrepreneurs, managers and citizens is the sought outcome of the work. The issue was analysed both quantitatively and qualitatively with the help of the SWOT analysis, optimum currency area theory and analysis of macroeconomic indicators. To achieve a more comprehensive understanding, also political programmes of the political parties represented in the Chamber of Deputies of the Czech Parliament were analysed. The contribution of the thesis lies in providing a comprehensive insight into issues regarding the euro while assessing the current situation and indicating the closest possible date for euro adoption.
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Analysis of problems of South wing countries of EMU and Ireland from the optimum currency area point of view and application on Czech Republic
Michailidis, Dimitrios ; Hurník, Jaromír (advisor) ; Dudáková, Tereza (referee)
This thesis focuses on analysis of current problems of so called "South wing countries" of EMU and Ireland (countries which are being called "PIIGS") from the theory of optimum currency area point of view. It uses the static and dynamic version of the theory as a framework for analyzing the problems of internal and external imbalance within those countries and mainly the connection between current accounts deficits, high level of private and public debts, loss of competitiveness in international trade and high percent of unemployment. The thesis comes with a conclusion that the main factors behind the crisis were inflation and inflation expectations which then through different inflation differentials created asymmetric shocks in monetary policy. This inflation differential phenomenon is described in Walters critique and with other theories creates the basis of analytical part. In the appendix it assesses the readiness of Czech Republic for accepting the euro, based on the analysis made in this thesis.
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Evaluation of positives and negatives of accession of the Czech Republic to the European Monetary Union
Kabešová, Karin ; Korda, Jan (advisor)
This paper is evaluating earnings and costs of the accession of the Czech Republic to the European monetary union. It defines the Theory of Optimal Currency Areas, both classic and modern approach, and brings up arguments for and against the accession to the monetary union. Further it deals with costs and earnings of the membership in the monetary union both in theory and as an approximate enumeration. It evaluates fulfilling of Maastricht criteria by Czech Republic and simulates its stay in the ERM II system. As the conclusion it states the later date of accession as the most favorable solution for the Czech Republic.
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Vstup ČR do EMU ? výhody, rizika, načasování vstupu do eurozóny, porovnání názorů a vliv společné měny na bankovní systém ČR
Bartošková, Renata ; Vošická, Zdenka (advisor) ; Paneš, Patrik (referee)
Tématem této diplomové práce je vstup České Republiky do eurozóny a otázky a problémy s tímto krokem spojené. K přijetí eura se nové členské země zavázaly již při podávání žádosti o členství. Vyhlídky na přijetí eura však v ČR nejsou prozatím příznivé. Česká ekonomika sice velmi rychle roste a konvergence k ekonomikám západní Evropy, ale pozitiva tohoto růstu jsou do značné míry vyvážena vysokým zadlužováním státu a nízkými investicemi do oborů s vysokou přidanou hodnotou, které budou klíčové pro naši konkurenceschopnost. Krátkozraká hospodářská politika je jednou z hlavních brzd našeho vstupu do Eurozóny. Zřejmě největším problémem je politický rozměr debaty o euru a závislost splnění maastrichtských kritérií na ekonomických reformách.
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