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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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Differences in spending leisure time of children living in the country and in the town
Svobodová, Markéta ; Pelikán, Jiří (advisor) ; Straková, Jana (referee)
1 Summary: At present our society faces the fact that children have been losing interest in activities that do not generate an immediate result and their free time is spent primarily passive. Overall values in society have changed. To obtain the various resources, experiences, property, we prefer the easier way to the effort and perseverance. Therefore we cannot value our own personality and know ourselves. Probably that is why current society is called consumer. This study consists of two parts - the theoretical and the empirical part. The study deals with the relation between physiological and psychological development of children, influence of environment and the use of free time. It detects options and ability of pubescent children living in the city and in the country to use leisure time offer. It also examines how much the place of living influences the way of spending their free time. The main objective is to find differences in the use of free time due to specific life in the city and in the country. Some problems in relation to the free time are also mentioned, e.g. specifics of life in the satellite towns, some sociopathological phenomena (crime, drug addiction or vandalism). The empirical part describes and summarises the entire procedure, the creation of non- standard questionnaire and its...
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Analysis of the decision-making factors in freight forwarder selection process
Šrámková, Eva ; Novák, Radek (advisor) ; Cempírek, Václav (referee) ; Průša, Bohumil (referee)
The thesis analyses the factors of customer decision-making process by choosing a freight forwarder in the Czech Republic market. While applying factors by other relevant research studies dealing with the decision-making process of customers in non-European countries, the research examines factors characteristic for the Czech customers. Questionnaires and in-depth interviews as research methods are applied. Within the research, a new service quality instrument TARRQUAL was developed. The TARRQUAL was proved on a survey including 250 customers of freight forwarder Kühne+Nagel Czech Republic. As service quality measurement, TARRQUAL is supposed to be applied particularly in logistics business field. The project aims at providing input for empirical research in the field of service quality in container shipping, which is lacking in the Central and East European countries.
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Speculation on oil markets and its impact on commodity's price
Melcher, Ota ; Taušer, Josef (advisor) ; Baláž, Peter (referee) ; Müller, Štěpán (referee)
This study aims to analyse the precrisis period on the oil markets with a primary objective of assessing the role of speculation in the commodity's price development and its volatility. First it depicts the rapidly increasing speculative activity on the futures market together with the parallel oil price surge. The speculation is initially proxied by non-commercial traders' positions and subsequently quantified by Working's T-index. The paper then uses speculative traders' positions and both spot and futures prices to test for Granger causality within the framework of VAR models. For the sake of consistency it also evaluates causal links between speculation and inventories level. Further the study investigates the speculation impact on volatility of oil prices by employing various approaches in volatility quantification including GARCH models. Contrary to expectations we find that the speculatio's impact on both prices and their volatility is rather insignificant. In the last chapter we therefore seek for an explanation of the oil price developments by examining the market fundamentals. The interaction of supply and demand finally gives substantial evidence for understanding the price developments in the precrisis period.
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Differences between men and women in the Czech labour market
Stroukal, Dominik ; Kadeřábková, Božena (advisor) ; Pavelka, Tomáš (referee) ; Němec, Otakar (referee)
This thesis consists of five articles that apply current world research on labor economics at the Czech Republic and confirms the significant differences between men and women in this market. It shows that gender has a significant influence on the preference on the labor market and, consequently, on employment and health. First, the thesis shows that preferences are relevant determinant of career and then we study the difference in preference of salary for men and women. Subsequently it shows that gender plays a significant role in explaining the relationship between homeownership, and unemployment, as well as unemployment and health. The first chapter was able to demonstrate that the preference for a career has a positive influence on the choice of career. The influence of higher education on prioritizing career proved to be positive and significant. Probability of a career choice is reduced by the presence of children, however, is not dependent on their number, which is contrary to the theory of preferences. The second chapter shows that Czech women prefer more non-monetary rewards than men. It has also been shown that people with university education are same in the preferences of non-monetary rewards regardless of the gender of the respondents, however, compared to the world's research, the Czech higher education increases this preference. It turned out that women prefer risk less than men. The third chapter demonstrates that although the housing market undermines labor mobility and employment in the Czech Republic at the regional level, therefore, that in regions with a higher rate of home ownership is higher unemployment, at the individual level, the owners of housing are unemployed are less likely. The estimates are significantly different for men and women. Men living in owner-occupied housing have a higher likelihood of employment than women. At regional level, however, this thesis shows that the high rate of home ownership increases unemployment for both men and women, in the long run only to women. The fourth chapter showed that men transition to homeownership reduces the likelihood of unemployment next year. For women, this relationship has proved to be insignificant. In addition, as insignificant showed the opposite relationship, the transition from unemployment to the newly acquired home ownership. The last chapter shows that the change in the working status to unemployment will increase in the future probability of worse health. Influence in less than two years, however, proved to be significant. An important conclusion is that men have a significantly stronger relationship between health and unemployment than women.
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The theory of redistribution and its application
Mihalčinová, Hana ; Dlouhý, Martin (advisor) ; Valenčík, Radim (referee) ; Peško, Štefan (referee)
The theory of redistribution systems is a practical extension of a game theory, which deals with a redistribution within a social system of more than two players with di?erent performances and ability to create coalitions. This thesis is divided into three chapters. The ?rst chapter describes the known knowledge of a game theory. The second chapter deals with the theory of redistribution systems. Using an elementary redistribution system and its generalization group behaviour when dividing a payment, achieved by a collective performance, is described. This part introduces the extension of the redistribution system to a compound redistribution system with a fractal structure. Furthermore the theory of discriminatory equilibrium and the theory of commonly acceptable equilibrium are veri?ed using the elementary redistribution system and utility theory. The third chapter deals with an application to the allocation of funds among faculty departments. A game theory approach was used to reduce the game to a non-cooperative game of two players by using the forming of coalitions. Also the theory of redistribution systems was applied when a reduction was used to create a non-cooperative two-player game. This reduced non-cooperative game between two players was converted to a cooperative play of more than two players by changing the rules of the game and allowing a formation of coalitions. In the practical part both of these approaches are compared with real data and a current state.
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Proposing the financial performance prediction index for decision support of the hospital management
Hajdíková, Taťána ; Černá, Anna (advisor) ; Lieskovská, Vanda (referee) ; Lazar, Jaromír (referee)
Dissertation thesis deals with the managerial needs in the area of financial health. Managers need a tool to reveal the impending financial failure or to assess the financial quality of the organization. They link their decisions to performance, ability to pay, employee productivity, financial resources and financial risk. In the theoretical part of the thesis it is necessary to explain the non-profit sector and its connection with the hospital environment. It is also necessary to introduce models used both in the Czech Republic and abroad, which share common elements. The basic aim of this thesis is to propose a financial performance prediction index for decision support of the hospital management, the owners of hospitals and insurance companies. To achieve the basic goal, three sub-goals must be accomplished. The first goal is to divide the hospitals into healthy and unhealthy by using the multi-criteria methods. The second goal is, based on an expert approach with the support of statistical methods, the selection of indicators appropriate for the hospital environment and the third goal is to find a suitable method for the determination of weighted representation of individual indicators in the proposed index and to assemble the final form of the new financial index for the hospital environment.
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The role of acetylation in the RNA recognition motif of SRSF5 protein
Icha, Jaroslav ; Staněk, David (advisor) ; Šenigl, Filip (referee)
Acetylation is emerging as an important posttranslational modification, which is found in thousands of proteins in eukaryotes, as well as prokaryotes. Global proteomic studies implicated acetylation in regulation of various processes like metabolism, gene expression, cell cycle or aging to name a few. In this work I set out to investigate the role of acetylation of a splicing regulatory protein SRSF5 by creating mutations in its acetylation site. I tested the hypothesis that acetylation influences SRSF5 interaction with RNA. I expressed acetylation-mimicking (Q) or non-acetylable (R) mutant of SRSF5 in HeLa cells and measured their interaction with RNA by RNA immunoprecipitation or in vitro by fluorescence anisotropy. Both approaches agreed that mutants interact with RNA less than the wild type protein and Q mutant bound RNA weaker than R mutant. I did not detect further difference in localization or dynamics among the proteins in vivo, which suggests that difference caused by weakened interaction of mutants with RNA was outweighed by other factors influencing SRSF5 behaviour, probably protein-protein interactions. I also found out that mutant SRSF5 proteins do not have a dominant effect on splicing of fibronectin alternative EDB exon. The data obtained give an indirect evidence for the hypothesis that...
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Alcohol addiction among the patients of the Psychiatric Clinic Červený Dvůr
PRAVEČKOVÁ, Michaela
My Bachelor's Thesis focuses on persons addicted to alcohol who are staying in Červený Dvůr Mental Hospital. The goal of the thesis was to find out the most frequent causes of addiction to alcohol in the Červený Dvůr clients and the impact of excessive alcohol consumption on their private life. In addition, the thesis tries to find out how the clients learned about Červený Dvůr Mental Hospital, what the reason for the consent with treatment was and what motivated the clients to undergo the treatment for addiction. The research was based on a qualitative method. The data were acquired using the method of semi-structured interviews and the sample consisted of 8 communication partners. The selection was intentional. For the data analysis, was used the method of patterns collection. The main research question dealt with the issue whether the clients in Červený Dvůr Mental Hospital are aware of the negative effect of alcohol. A partial research question was to find the answer to the question in which situations the clients became aware of the negative effect of alcohol. In addition, what were the main causes of excessive consumption of alcohol in the clients and what is their motivation to undergo the treatment for addiction. Nearly all respondents were aware of the negative effect of alcohol, specifically in relation to their family troubles. The most common consequence of alcoholism was divorce. The clients became aware of the negative influence of alcohol in the case of loss of friends or job. The most frequently occurring cause of addiction in these clients was an unidentifiable craving for a change, which they themselves are not able to explain. At the same time, for more than a half of the respondents the main motivation to undergo the treatment was their wish to live "properly" as they had lived before their addiction developed. These people wish to find the sense of their lives and their vision is that they will be able to function in everyday life as the others are. Another finding resulting from the research was that in the case of all respondents somebody from among their family members was addicted to alcohol as well. More specific results are provided in the practical part of the thesis. The Bachelor's Thesis could be beneficial for both non-specialists and specialists. It could be motivating for people who are addicted to alcohol and are afraid of seeking assistance. The thesis may be used for instructional purposes or for the creation of programmes aimed at better awareness and prevention in the area of addiction to alcohol.
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