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Vplyv vekovej štruktúry obyvateľstva na spotrebné výdaje v krajinách V4
Snopková, Monika
The bachelor thesis is focused on the assessment of the impact of population age structure on household consumption expenditure. According to Modigliani's economic theory and his co-workers, this influence could be significant. Consumer spending is affected by many more indicators that have a significant impact on it. One of the indicators is the economic level in the form of GDP. Other indicators representing the economic area that could affect consumer spending are interest rate, purchasing power parity and unemployment. From the resulting models, we can see that consumption patterns have a certain impact on the age structure. Modigliani's theory has not been proven to be true only in the Slovak Republic; other countries have shown the influence of age structure.
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Purchasing Power Parity (PPP) Deviations: The case of Zimbabwe and it’s five neighbouring countries (1997 – 2016).
Mudavanhu, Tinashe
Economic decline in Zimbabwe has manifested in several ways, one of which is in the form of persistent trade deficits. This is not unique to Zimbabwe alone, with trade imbalances also extending to its neighbouring countries. The purpose of this study is to investigate whether PPP deviations can be used to manage bilateral trade balances in such a way that parties concerned benefit from the trade proportionally. The literature review analysed research done on the validity of PPP theory in developing and developed countries all over the world. Studies generally confirmed that the long-run PPP holds strong for developed countries and weak for developing countries. The study makes use of secondary yearly data from international financial institutions and employs unit root tests and the Engle Granger cointegration test to investigate the Purchasing Power Parity theory. In addition, Granger causality tests were also performed on the observed deviations and trade balances to find out if a relationship is present. It was noted that PPP theory does not hold between Zimbabwe and its neighbouring countries (Botswana, Namibia, Zambia, South Africa, and Mozambique). As such, PPP deviations cannot be used to improve bilateral trade balances between Zimbabwe and its trading partners.
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Determination of the Exchange Rate
KRČMOVÁ, Daniela
This bachelor thesis deals with determination of the exchange rate. The main aim of the thesis is verification of chosen methods of the determination of a particular exchange rate in real market conditions. In the first part, the bachelor thesis deals with basic terms related to the currency market and are essential for understanding of a given matter. In this part there are described: the currency market, exchange rate quotation and different exchange rate systems. To understand given matter it is necessary to find out, how the given exchange rate works, what we can expect from it in the following years and thus estimate the future development of currency exchange rate. At the end of the theoretical part there are three basic theories of determination of the exchange rate introduced. Those are the purchasing power parity, the interest rate theory, and the last theory deals with the balance of payments. In the practical part I introduce three methods of determination on the exchange pair CZK/GBP, which is observed in the time frame from 2006 to 2017. To prove the validity and consequently compare the theoretical exchange rates with real exchange rates, uncovered interest parity, absolute and relative version of the purchasing power parity and lastly the theory of balance of payments of both countries were used. The future development according to the theory of balance of exchange rate is compared on the basis of current account and overall balance of payments of given countries. Based on the results, a best method of determining the future exchange rate development is suggested.
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New new bottom billion: Poverty and regional differences in price levels around the world
Šedivý, Marek ; Janský, Petr (advisor) ; Schwarz, Jiří (referee)
New new bottom billion: Poverty and regional differences in price levels around the world Author: Marek Šedivý Supervisor: Petr Janský, PhD. Abstract Comparable national price levels are a fundamental instrument for any research attempting to compare economic indicators of various countries. Nowadays they are produced by a number of organizations, namely the World Bank, Organization for Economic Cooperation and Development and the Penn World Tables. However these are provided only on national level even though significant evidence of inter-regional differences in price levels exists. This could lead to a bias of income-based economic indicators. Systematic assessment of the impact of spatial price differences on income-based economic indicators was done in this thesis. On the basis of the existing research it estimates regional price levels for a sample of 21 high and middle income countries. By combination of these indicators with income survey data provided by the Luxembourg Income Study it constructs Gini coefficients and poverty headcount ratios both adjusted and unadjusted for regional price levels. Significant and persistent evidence of bias induced by regional price levels is found throughout the sample. In the majority of cases the failure to adjust for spatial price differences leads to...
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Anomalies in the development of the exchange rate (In the context of PPP)
Hejzlarová, Anna ; Šíma, Ondřej (advisor) ; Pour, Jiří (referee)
This thesis is focused on the description of the purchasing power parity theory and the theory of the interest rate as the fundamental aspects of exchange rate movements. A large part is devoted to the problems of equilibrium exchange rates and associated anomalies that these equilibrium rates are largely affected. The aim is to highlight the pros and cons of these theories and their practical use in nowadays world. Incomplete validity of purchasing power parity is analyzed by using available data which also leads to examine the presence of deviation from the equilibirum value. These anomalies are divided into economic origin anomalies and anomalies arising from non-market intervention. Despite the frequent critism the theory of purchasing power parity is still the most popular and frequently published theory.
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Methods of exchange rate analysis and an application of the equilibrium exchange rate model on selected currencies
Attendorn, Filip ; Potužák, Pavel (advisor) ; Čermáková, Klára (referee)
The thesis deals with the fundamental analysis of exchange rates of CZK/EUR, GBP/EUR and PLN/EUR. First, the validity of uncovered interest rate parity is tested in the empirical part using the method of least squares. The same econometric method is applied for testing of the validity of the relative version of purchasing power parity. The tested theories are rejected based on the outcome of the empirical models. Another part of the study is estimating the equilibrium exchange rate using the vector autoregression model. The data of inflation, real exchange rate, and interest rate of treasury bills are utilized. The model is statistically significant in case of the Czech Republic and Poland. The real exchange rates of these countries have similar deviations from the equilibrium level in the period before the financial crisis and in at the beginning of the crisis. However, for the UK the model is not statistically significant.
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Parita kupní síly - teorie a praxe
Bukat, Michał Aleksander ; Žamberský, Pavel (advisor) ; Taušer, Josef (referee)
The thesis explains the theory of purchasing power parity and related concepts. It shows differences in prices and wages all around the globe and gives theoretical explanation of existing disparities. The goal is to find out how prices differ in reality, where costs of living are the highest or the lowest and what makes some products more or less expensive in different countries. In order to answer the questions the thesis deals with, the variety of sources was used, starting from economics textbooks, academic journals, literature reviews, the Economist website, a study of UBS 'Prices and Earnings', International Monetary Fund database and others.
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Rovnovážný reálný devizový kurz české koruny vůči euru
Galusková, Klára
This diploma thesis deals with the real equilibrium exchange rate of the Czech Koruna to Euro which represents an important role in modern macroeconomics. To this purpose many methods are used and the most advanced work with the estimation on the principle of using macroeconomic fundamentals. The partial aim of this thesis is estimation the real equilibrium exchange rate of the Czech koruna and Euro currency by using the purchasing power parity theory and econometric analyses of BEER and PEER models. Based on the resuls of these estimations will be fulfil the main aim of this thesis - defining the recommendations for the national economic policies' decisions.
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Development of labour productivity in Vietnam
Ngo, Duc Thanh ; Vltavská, Kristýna (advisor) ; Javorská, Eva (referee)
This bachelor thesis deals with the development of labour productivity per worker in Vietnam after period Renovation (in 1986). The first part explains theories of productivity,labour productivity, such as output, input of production function, labouriousness and describe the methods used for estimating labour productivity and factors affecting labour productivity. In the next part bachelor thesis examines development of labour productivity per worker in Vietnam in period after Renovation and in selected countries in Asia. Bachelor thesis also focuses on comparision of labour productivity between Vietnam and selected Asian countries. Last part analyses most important factors, which affect to labour productivity during period 2000-2010.
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Beyond Balassa - Samuelson: real appreciation in tradables in transtion countries
Cincibuch, Martin ; Podpiera, Jiří
Using the simple arbitrage model, writers of this work decompose real appreciation in tradables in three Central European countries between the pricing-to-market component (disparity) and the local relative price component (substitution ratio). Appreciation is only partially explained by local relative prices. The rest is absorbed by disparity, depending on the size of the no-arbitrage band. The observed disparity fluctuates in a wider band for differentiated products than for a commodity like goods.
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