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The Founders of Post-Keynesianism and the Concept of Reswitching
Kraffer, Robin ; Potužák, Pavel (advisor) ; Chytilová, Helena (referee)
The thesis deals with the evolution of thoughts of Joan Robinson's, Nicholas Kaldor's, Piero Sraffa's and Luigi Pasinetti's with regards to the issue of reswitching. Discussing Robinson, Kaldor, and Sraffa, it addresses the importance of the discussion on imperfect competition and Keynes's theory for developing their opinions within the capital theory. This issue was challenged in the 50s by Robinson who asked how capital can be measured. She discovered an option of reswitching to a more capital-using technique during a wage increase, but she did not focus on it very much. The thesis also seeks the importance of Sraffa's solution to the invariant standard of value for developing the debate on reswitching the technologies in the 60s, which was joined by both Pasinetti and Robinson. However, Robinson refused again in the 70s to deem the reswitching important within the critique of the neoclassical theory, and thus joined Kaldor who had voiced similar thoughts. At the end of the thesis, the question of Robinson underestimating the importance of reswitching, as pronounced by Pasinetti, is answered - she underestimated it in the 50s, whereas it is impossible to give a clear answer when it comes to the 70s, despite the differences found among Post-Keynesians and Neo-Ricardians.
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Unconvential monetary policy adopted by ECB and FED in 2008-2015
Pörner, Marek ; Šetková, Lenka (advisor) ; Ševčíková, Michaela (referee)
The main aim of this thesis is to analyse the accomplishment of the goals set, namely those of the selected unconventional monetary policies approved by the Federal Reserve System and the European Central Bank in response to the last financial crisis. With the FED the attention is focused on Quantitative Easing, whereas with the ECB it is focused on the programmes called Enhanced Credit Support, SMP, OMT and EAPP. Important parts of this thesis are also the explanation of the transmission mechanism of the unconventional monetary policy, the evaluation of macroeconomic impacts of these non-standard tools, the comparison of procedures of the two monitored central banks, but mainly the analysis of selected risks related to those tools. The principal method was an empirical analysis supported by economic studies dealing with the issues mentioned above. In the thesis it was discovered that the individual goals of the monitored programmes were achieved (with the exception of the SMP). With the programme EAPP no conlusion can be drawn because the programme has not been finished yet. Nevertheless, these non-standard tools bring certain risks such as a creation of a bubble in the markets of assets, a redistribution of wealth, a spillover effect, etc. For that reason it will be possible to evaluate the overall effect of the unconventional monetary policies only after a longer time period.
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The value of life from macroenomic point of view in United States of America, Czech republic and Russia between years 2007-2014
Antoš, Michal ; Zeman, Martin (advisor) ; Brabec, Petr (referee)
The subject of this bachelor thesis is the research of the value of life calculation in the Czech republic, United states of America and Russia in 2007-2014.The main purpose is to analyze and compare values of life and major factors influencing them. The hypothesis is that value of life differs in selected countries due to distinctions of sections influencing them. The theoretical part is devoted to sections directly or indirectly influencing values of life, and then analyzing and comparing them together within the selected countries. The selected sections are education, health care, labor market, inequality and living standards. The practical thesis approach is to calculate the values of life for the individual states. The values of life are calculated for so called, representative individual, who is 40-years old citizen of selected country. In the period, in which is the value of life calculated, the retirement age and life expectancy are also considered in formula. Calculated values are examined and the economic and political measures are offered to the states, which can turn into significant increases in the value of life in future.
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Empirical analysis of Okun’s law in Iceland
Zajíček, Zdeněk ; Slaný, Martin (advisor) ; Chytilová, Helena (referee)
This thesis deals with empirical analysis of Okuns law in Iceland. Okuns hypothesis of negative relationship between real GDP and the rate of unemployment is being tested on two models, difference and gap, using OLS estimation. Also there are two filtration methods used (Hodrick-Prescott and Baxter-King) for gap model estimation. The results of all models showed weak relationship of variables, but proved the hypothesis. In the following part, the same procedure is being used on Finlands data, to get comparison of coefficients. Results for Finland showed weaker bond of variables than in Iceland, but the Okuns hypothesis still holds. Last part is focused on finding the sensitivity of rate of unemployment to changes in added value of each economical sector in Iceland using the production approach model. This model gave inconclusive results due to insufficient data available.
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Comparison of Slovak and Croatian model electronic records of sales and their effects on selected economic indicators in 2013-2015
Hušková, Pavlína ; Vostrovská, Zdenka (advisor) ; Zeman, Martin (referee)
The aim of the thesis is to analyze and compare the implementation process and economic impact of electronic records of sales in the Slovakia and Croatia. The first three chapters define the basic concepts related to the topics of the thesis such as the taxation system, the shadow economy and the harmonization of tax systems across the European Union. The thesis focuses on the characteristics of the taxation system in the Slovakia and Croatia specifically for value added tax. The practical part deals with the analysis of the electronic records of sales in these countries. The benefits and impacts of the electronic records of sales compare to selected economic indicators and infer recommendations for the Czech Republic. The last part of the thesis outline for the readers the issue of state lottery associated with the receipt.
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Fiscal rules in selected EU countries between 2004-2015: sensible method for consolidation of public finances or fad of politicians?
Veselý, Lukáš ; Strejček, Ivo (advisor) ; Chmelová, Pavla (referee)
The subject of fiscal rules is very topical issue. The rise of public debt in certain developed countries resulted in what is sometimes called "debt crisis". Debt of those countries which is higher than their annual gross domestic product is viewed as unpayable by some economists. The main objective of this thesis has been to prove or disprove hypothesis that the fiscal rules studied in this paper are an effective solution for public finance consolidation. This verification was based on the analysis of fiscal rules functioning in selected countries between 2004 and 2015. As per results of analysis the paper aims to give recommendations for the Czech financial constitution proposal. The actual results of inquiry proved the hypothesis. Well-chosen fiscal rules are the right way towards fiscal consolidation, provided they are observed. Fiscal rules making thus requires an emphasis to be placed on the well-formulated exit clauses altogether with prospective sanctions. The current Czech financial constitution proposal is built on the correctly picked fiscal rule type, although the reference value lacks economic sense and it would not lead, with a high degree of probability, towards fiscal consolidation.
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Who is buying luxury Czech fashion?
Hříchová, Monika ; Špecián, Petr (advisor) ; Máslo, Lukáš (referee)
This bachelor thesis is looking for the determinants of buying luxury fashion by Czech designers. The main conclusions of worldwide studies are examined based on data provided by the designers. Customer information were provided by companies Veršatyl and One Life. Qualitative data from the Veršatyl brand are examined using descriptive statistics. Data resulting from the purchase statistics from the One Life brand are converted into numerical values and investigated using regression analysis. The most important determinants when buying luxury Czech fashion include the quality of the product and its manufacturing.
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Accounting Frauds in Russia
Kontsova, Anna ; Purina, Marina (advisor) ; Hora, Michal (referee)
The subject of this thesis is the characteristics and detailed classification of accounting frauds in Russia. The whole work is based on current government regulations, expert articles and statistical data related to the issue of accounting frauds. This bachelor thesis is divided into two parts: theoretical and practical. Theoretical part focuses on characteristics of the system of accounting frauds in Russia from the perspective of government regulations, indicates historical assumptions and current tendencies and presents classification of accounting frauds based on several parameters. The practical part illustrates the issue with examples of accounting frauds in two different companies and assesses their impact on economic situation in each company.
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Application of the Balanced Scorecard in the company ELLA-CS
Cwierz, Jan ; Neumaierová, Inka (advisor) ; Beneš, Oldřich (referee)
Balanced Scorecard belongs to the most prominent managerial tools for performance measurement and strategy management. Aim of this thesis is to describe BSC with emphasis to small and medium enterprises using literature review. Additional supporting tools for strategy formulation are included as well. BSC is then proposed for implementation in privately owned small enterprise in the sector of medical devices. Based on the thorough analysis of the company and its environmental factors operational and strategical performance gaps are identified. Such gaps are then addressed by means of BSC including financial, customer, internal processes and learning and growth perspective. Despite some limitations inherent to SMEs in general introduction of BSC is feasible and could be of value to all company stakeholders.
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