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PPI and CPI: What is the relationship?
Červený, David ; Polák, Petr (advisor) ; Havránek, Tomáš (referee)
This bachelor thesis examines the relationship between the PPI and the CPI in the Czech Republic and the euro area. The primary method used in this thesis is the Granger causality test. Granger causality between the price indices is tested for in a bivariate model and also conditional on other variables describing the development of real GDP, a given monetary aggregate and wages. The most apparent conclusion that can be drawn from the empirical results indicates that the PPI Granger-causes the CPI in the Czech Republic and that there is no Granger causality going from the CPI to the PPI in the euro area. These results are consistent with conventional economic theory, which suggests a pass-through effect in the production chain going from producer prices to consumer prices.
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Dopady vývoje hlavních makroekonomických ukazatelů na exportní výkonnost české ekonomiky
Šibal, Filip
Šibal, F. The impacts of the development of selected macroeconomic indicators on the export efficiency of the Czech economy. Bachelor thesis. Brno: Mendel Univer-sity, 2020. Bachelor thesis deals with the evaluation of the influence of the selected macroeco-nomic indicators on the Czech export into Germany, the European Union and the Euro Zone. It focuses on the changes of the GDP, CPI, real effective exchange rate, interest rate and unemployment rate. The first part of the thesis focuses on the main terms of the foreign trade and shows the development of the foreign trade in Czech Republic. There are also theoretical concepts of econometrics methods which are used in the practical part of the thesis. The second part contains the regression analysis of time series with quarterly pe-riod between years 2000-2019. The multiple regression analysis is used, and con-structed models are estimated by the OLS method. The results of the analysis con-firm the influence of first differences of the GDP, CPI and real effective exchange rate on the Czech export into selected regions.
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Comparison of price levels on the countries of Visegrad group after joining the European Union
Bočkoriková, Bernadeta ; Nečadová, Marta (advisor) ; Rusmichová, Lada (referee)
BOČKORIKOVÁ, Bernadeta: Comparison of price levels on the countries of Visegrad group after joining the European Union. University of Economics, Prague, Faculty of Business administration, Department of Economics and Management. Thesis supervisor: Ing. Marta Nečadová, Ph.D, 2017, 48 s. The main objective of this bachelor thesis is to analyse the evolution of different price levels in the countries of the Visegrad Four after joining the European Union and to identify the reasons of the differences. The theoretical part of the thesis defines inflation, describes the possibilities and ways of measuring inflation and briefly describes the consequences of inflation. In this part, there are analysis of the composition consumer basket for each country of the Visegrad Four. Compared are the differences in the structure of consumer price index ant the harmonized index of consumer prices. The practical part of the thesis focuses on the comparison of the price level in the perion of years 2004-2016. Development of the annual inflation rate for each country is explained by annual rate of changes of selected sectors of the consumer basket.
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How is the Swiss economy coping with the CHF appreciation after the SNB's exít?
Borufka, Roman ; Holub, Tomáš (advisor) ; Hájek, Jan (referee)
The objective of this thesis is to describe the situation in the Swiss economy before the SNB discontinued the minimum exchange rate. Furthermore, the aim is to anal- yse the impact of the abandonment of the exchange rate floor on key macroeconomic indicators such as GDP, year-on-year changes in consumer and producer prices or unemployment rate. The interactions between CHF/EUR exchange rate and real GDP, CPI and 3-month LIBOR are examined using VAR model on quarterly data from 1999 to 2016. The results suggest that the CHF/EUR exchange rate appreci- ation has temporary dampening effects on GDP, CPI and 3-month LIBOR. These results are consistent with the developments in macroeconomic variables after the discontinuation of the minimum exchange rate. JEL Classification C5, E24, E31, E43, F31 Keywords exchange rate, gross domestic product, consumer price index, interest rate, vector autoregressive model Author's email borufka.r(at)seznam.cz Supervisor's email Tomas.Holub(at)cnb.cz
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Inflation Analysis - the Case of the Czech Republic
Korpasová, Kateřina ; Burian, Stanislav (advisor) ; Stará, Dana (referee)
This bachelor thesis focuses on process and development of inflation in the Czech Republic. The study is divided into two parts, when the first one is theoretical. The first part describes inflation in general and its key terms like price level and quantification with price indexes. The study subsequently defines the causes of inception of inflation and the types of inflation, its impact on economy and economy policy. The next, analytical, part focuses practically on the determinants in process of inflation and analyse this proces as well. The study deals with its changing and with causes of these changes. Because the macroeconomic indicators are closely connected, there is also a short evaluation of conditions of unemployment and increasing GDP for each year. The lenght of investigated period is fifteen years and it is from year 2001 to year 2015. Each year is defined more detailed and the causes of changes of the process of inflation are explained. Units of the market basket, which had percentual impact on changes of process of inflation, are also defined for each year.
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Producer price index and customer price index and their mutual relation
Benkovičová, Michaela ; Fischer, Jakub (advisor) ; Musil, Petr (referee)
The Bachelor thesis regards a producer price index a customer price index and their mutual relation. Main purpose of this Bachelor thesis is to prove that there is dependence between these indices and the producer price index influences customer price index. Achieving this goal is the main contribution this Bachelor thesis. The Bachelor thesis contains basic information about indices. Basic statistical methods are used for data analysis as graphic analysis, accordance of the first differences, additive decomposition of time series, seasonality F-test, X-12-Arima and Durbin-Watson test. Special attention is paid to the description of Hodrick-Prescott filter. The correlation coefficient is used to determine dependencies between producer price index and customer price index. Finally, it is indicated the direction in which the research could proceed.
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Analýza rozdílu harmonizovaného a národního indexu spotřebitelských cen v ČR
Vrabec, Václav ; Vltavská, Kristýna (advisor) ; Musil, Petr (referee)
Price indices belong to the most important topics in the economic statistics. The consumer price index and the harmonised index of consumer prices are the parts of the complex of price indices. The consumer price index belongs to the most important indicators of the price development in the Czech Republic. Relative changes of the final consumer prices of goods and services paid by inhabitants can be estimated in a representative way with the help of this index. The consumer price index for households (in total) is used for measuring inflation in the Czech Republic. The harmonised index of consumer prices is developed as the result of the need of comparable measurement of the inflation trends Member States of the European Union. The aim of this work is to find and analyse the differences between the national consumer price index and the harmonised index of consumer prices. These differences will be searched not only in the methodologies but in the final values as well. There is also shown development of the differences throughout the time. It will outline the development of the both indices in the future including their differences. This work should provide the clear and integral source of information about indices in general; the consumer price index, the harmonised index of consumer prices and their differences.
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Statistical development of price level in Czech Republic and Canada
Dibelka, Jiří ; Fischer, Jakub (advisor) ; Musil, Petr (referee)
The vision of this work is in a closer look at CPI of Canada and Czech Republic, their closer composition and comparison of parts. We used mainly composition of consumer baskets in Czech and in Canada. We compared methods of construction of CPI. More focus is in Canadian CPI index, which is not much known in Czech Republic. I have tried to have a closer look at each part and interesting things about constructing the index and its explanations. The main asset of this work is in comparison the two consumer price indexes and their components as well as their differences we can find. I have used some interesting things about the life in Canada as I have experienced it by myself.
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Vliv měnové konkurence na inflaci
Roček, Tomáš
Roček, Tomáš. Impact of currency competition on inflation. Bachelor thesis. Brno: Mendel University, 2014. This bachelor thesis is focused on the demonstration of the dependence between currency competition and money supply, respectively the development of the index of consumer prices. This bachelor thesis includes different views of various economic schools on inflation, effects of the single currency introduction in euro zone countries, Herfindahl index application to the relevant data and final correlation analysis including the assessment of examined variables statistical dependence.
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The Consumer Price Index and it´s appropriateness for measure of inflation
Trčová, Marie ; Pfeifer, Lukáš (advisor) ; Řežábek, Pavel (referee)
The target of this bachelor's thesis is comparison of current measurement of inflation, a measurement by consumer price index, with alternative attitudes of measuring of inflation including an identification of their vallue added. Nowadays the maintenance of a stable inflation rate is one of the dominant targets of all central banks in developed countries. The central banks use various instruments of monetary policy to ensure this target. One of the regime of monetary policy that central banks use the most is inflation targeting, more precisely targeting of consumer price index. Unfortunately, this price index carries an amount of disadvantages. At first, I mention predominant discussion about technical imperfections that are caused by the method of it's calculation. Then I focus on monetary - political imperfections of the consumer price index that are caused by the fact that this index ilustrates development of only relatively stable consumer prices, so it's reactions on changes of monetary policy are very weak. After that I carry out an comparative analysis of representative alternative attitudes of measurement of inflation, including a comparison of developement of inflation rate according to these attitudes in USA in last few years.
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