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National Repository of Grey Literature 2 records found  Search took 0.02 seconds. 
Current accounts in monetary union: Did Euro cause a shift?
 Olešňaník, Tomáš ; Baxa, Jaromír (advisor) ; Švarcová, Natálie (referee)
This thesis examines the implications of Euro on current account balances of countries using it. First, we summarize the main theoretical and empirical findings about determinants of current account deficits and possible implications of monetary union. Second, an empirical analysis of possible effects of single currency is presented. We employ time-specific fixed-effect estimator, corrected for possible endogeneity between fiscal policy stance and current account deficits. Our results do not support the hypothesis of any impact on current account balances as such, however we document positive role of single currency for gross saving and investment rates. We further examined eventual break in the relationship between fiscal and current account balances. Our regression indicates that the role of fiscal balance as determinant of current account transactions increased with introduction of single currency therefore implying less Ricardian behaviour of private sector in Eurozone. Keywords current account, monetary union, fiscal balance, shift Author's e-mail tomas.olesnanik@gmail.com Supervisor's e-mail jaromir.baxa@centrum.cz
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Dopad ekonomickej krízy na dva vybrané štáty strednej Európy: Slovensko a Poľsko
 Dovicová, Michaela ; Baxa, Jaromír (advisor) ; Skuhrovec, Jiří (referee)
The aim of this thesis is a comparison of impacts of the recent economic crisis demonstrated on three selected indicators in Poland and Slovakia. These indicators are unemployment, consumption and foreign direct investment. Theoretical part is aimed at fiscal policy and its role in the crisis, life cycle hypothesis and hypothesis of permanent income as the theories of households' consumption and savings, and jobless growth. Consequently, the thesis describes the situation before, during and after the crisis, whereby it also verifies predictions of above mentioned theories. In conclusion, it tries to forecast the possible development of selected indicators in these countries into the near future.
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