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Comparison of immovable property tax in the Czech Republic and Slovakia
AUGUSTINOVÁ, Jitka
The purpose of the bachelor´s thesis is comparison of immovable property tax (real estate tax) in the Czech Republic and Slovakia. First, the history of the tax, and then the status of the tax in the tax system of both countries is described. Further on, I deal with the role of the tax and its legal arrangement. The last chapter focuses on the primary differences (tax administrator, powers of tax, rate of taxation, tax exemption, tax matu-rity) and their assessment. In this chapter agreement in the immovable property tax law between both countries is descirbed, too.
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The Macroeconomic Impacts of the Selected Oil Shocks in the United States of America
Šikulová, Markéta ; Johnson, Zdenka (advisor) ; Tajovský, Ladislav (referee)
The aim of this study is to analyze macroeconomic impacts of four selected oil shocks on the United States economy and their subsequent comparison. The first part of this study deals with the theoretical background of supply shock, its influence on the economy, and the possible responses of economic policy. Furthermore, in the first part I focus on the historical events that led to the oil crisis, specifically on the OPEC oil embargo imposed on the United States, production cuts caused by the Iranian revolution, Iran-Iraq War and Persian Gulf War and on the demand as well as the supply factors that led to the oil shock of 2007-2008. The second part of this study presents the specific impacts of four selected oil shocks on the US economy and their comparison. Based on the findings, it was possible to confirm the hypothesis saying that past oil shocks, especially those that took place in the 1970's, had more negative impacts on the United States economy in comparison with those that happened more recently. In other words, that the effects of changes in oil prices have lessened over time. There are many reasons of this moderation, but the most important ones include more effective monetary policy response, the decrease in wage rigidities, and more recently also the decline of United States dependency on imported oil.
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Comparison of Market and State Organized Public Transport in the Czech Republic Between 2000 – 2015
Hervert, David ; Pikhart, Zdeněk (advisor) ; Vebrová, Ludmila (referee)
Content of this bachelor thesis deals with a comparison of market and state access to public transport from a national economic perspective. Public transport in the Czech Republic between the years of 2000 and 2015 is analysed before the actual comparison is made. The theoretical part deals with available products of public transport, transport demand, market and government failure, entrepreneur theory and information function of prices. Different types of public transport are analysed and compared in the practical part. Additionally, an analysis of public transport in the USA is made and then compared with public transport in the Czech Republic.
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Web Application Development with Spring Framework
Nizamov, Kirill ; Pecinovský, Rudolf (advisor) ; Šlajchrt, Zbyněk (referee)
The thesis is concerned with a comparison between a Java framework called Spring and Grails, Zend, Nette, NodeJS, Play, Symfony, OpenXava frameworks described in the theses of Odehnal [1], Kočárek [2], Kadlec [3], Dočkal [4], Šimon [5]. The thesis consists of two parts. The theoretical part introduces the Spring ecosystem and its individual modules to the reader. This part also outlines trends and estimates Spring position and popularity among other Java frameworks. The practical part focuses on web application development based on the criteria defined in the Odehnal's thesis [1]. The sample application shows the style of development in the Spring framework and its functionality and capabilities. Based on the gained experience during the sample application development, Spring is next compared to the other frameworks mentioned earlier and included into the previous comparison. The comparison criteria are specified in the Odehnal's thesis [1] and consist of 4 areas. First of all, there is a basic framework differences comparison. Next, there is an architecture comparison. The third area involves a comparison of work with the framework which also contains both objective criteria and personal estimation. The last part is dedicated to a comparison related to framework support, available literature and overall popularity. The result of this thesis is a comparison of 8 frameworks including the created sample application, which should help the readers when selecting one of the them and should make it easier to orientate in the world of web frameworks.
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Makroekonomický dopad mateřské (a rodičovské) dovolené ve srovnání České Republiky s Brazílií
Kalkusová, Marie ; De Castro, Tereza (advisor) ; Neumann, Pavel (referee)
This thesis aims to estimate the macroeconomic impact of maternity and parental/paternal leave in the Czech Republic and Brazil. In addition, the thesis stresses out the costs of Czech model application to Brazil and vice-versa. The first chapter brings a theoretical framework. It compares the analyzed policies in both countries and introduces the relevant terms. The second chapter estimates the costs of maternity and parental/paternal leave related to public expenditure and GDP for the years 2005-2014 and brings own simulation model for Czech model application to Brazil and vice-versa. The third chapter analyses the inefficiencies and suggest possible mitigation. The results show the costs of 0.71% of GDP and 1.66% of public expenditure in the Czech Republic and 0.50% GDP and 2.27% of public expenditure in Brazil in 2014. The Czech model applied in Brazil would be very costly and the opposite scenario would lead to the decrease of macroeconomic burden in the Czech Republic. The thesis also analyzes the influence of maternal and parental leave in other areas, such as labor market, where the current structure may penalize Czech women in long term. By this analysis, the thesis contributes to the current debate about the impact, the length and costs of maternity and parental leave.
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Forensic investigation and economic crime
Švajnochová, Gabriela ; Müllerová, Libuše (advisor) ; Hótová, Renáta (referee)
Topic of this master thesis is forensic investigation and forms of economic crime which can be detected during the investigation. First chapter focuses on forensic investigation and its comparison with statutory audit. In the second chapter is performed analysis of forms of economic crime in the Czech Republic, Southern and Eastern Europe and globally. Knowledge from the previous chapters is applied to the real forensic investigation performed in the Czech Republic, forensic investigation of project OpenCard.
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Míry podobnosti pro nominální data v hierarchickém shlukování
Šulc, Zdeněk ; Řezanková, Hana (advisor) ; Šimůnek, Milan (referee) ; Žambochová, Marta (referee)
This dissertation thesis deals with similarity measures for nominal data in hierarchical clustering, which can cope with variables with more than two categories, and which aspire to replace the simple matching approach standardly used in this area. These similarity measures take into account additional characteristics of a dataset, such as frequency distribution of categories or number of categories of a given variable. The thesis recognizes three main aims. The first one is an examination and clustering performance evaluation of selected similarity measures for nominal data in hierarchical clustering of objects and variables. To achieve this goal, four experiments dealing both with the object and variable clustering were performed. They examine the clustering quality of the examined similarity measures for nominal data in comparison with the commonly used similarity measures using a binary transformation, and moreover, with several alternative methods for nominal data clustering. The comparison and evaluation are performed on real and generated datasets. Outputs of these experiments lead to knowledge, which similarity measures can generally be used, which ones perform well in a particular situation, and which ones are not recommended to use for an object or variable clustering. The second aim is to propose a theory-based similarity measure, evaluate its properties, and compare it with the other examined similarity measures. Based on this aim, two novel similarity measures, Variable Entropy and Variable Mutability are proposed; especially, the former one performs very well in datasets with a lower number of variables. The third aim of this thesis is to provide a convenient software implementation based on the examined similarity measures for nominal data, which covers the whole clustering process from a computation of a proximity matrix to evaluation of resulting clusters. This goal was also achieved by creating the nomclust package for the software R, which covers this issue, and which is freely available.
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Use of Interest Rate Models for Interest Rate Risk Management in the Czech Financial Market Environment
Cíchová Králová, Dana ; Arlt, Josef (advisor) ; Cipra, Tomáš (referee) ; Witzany, Jiří (referee)
The main goal of this thesis is to suggest an appropriate approach to interest rate risk modeling in the Czech financial market environment in various situations. Three distinct periods are analyzed. These periods, which are the period before the global financial crisis, period during the financial crisis and in the aftermath of the global financial crisis and calming subsequent debt crisis in the eurozone, are characterized by different evaluation of liquidity and credit risk, different relationship between financial variables and market participants and different degree of market regulations. Within this goal, an application of the BGM model in the Czech financial market environment is crucial. Use of the BGM model for the purpose of predicting a dynamics of a yield curve is not very common. This is firstly due to the fact that primary use of this model is a valuation of interest rate derivatives while ensuring the absence of arbitrage and secondly its application is relatively difficult. Nevertheless, I apply the BGM model to obtain predictions of the probability distributions of interest rates in the Czech and eurozone market environment, because its complexity, direct modeling of a yield curve based on market rates and especially a possibility of parameter estimation based on current swaptions volatilities quotations may lead to a significant improvement of predictions. This improvement was also confirmed in this thesis. Use of swaptions volatilities market quotations is especially useful in the period of unprecedented mone- tary easing and increased number of central banks and other regulators interventions into financial markets that occur after the financial crisis, because it reflects current market expectations which also include future interventions. As a consequence of underdevelopment of the Czech financial market there are no market quotations of Czech koruna denominated swaptions volatilities. I suggest their approximations based on quotations of euro denominated swaptions volatilities and also using volatilities of koruna and euro forward rates. Use of this approach ensures that predictions of the Czech yield curve dynamics contain current market expectations. To my knowledge, any other author has not presented similar application of the BGM model in the Czech financial market environment. In this thesis I further predict a Czech and Euro area money market yield curve dynamics using the CIR and the GP models as representatives of various types of interest rates models to compare these predictions with BGM predictions. I suggest a comprehensive system of three criteria, based on comparison of predicti- ons with reality, to describe a predictive power of selected models and an appropria- teness of their use in the Czech market environment during different situations in the market. This analysis shows that predictions of the Czech money market yield curve dynamics based on the BGM model demonstrate high predictive power and the best 8 quality in comparison with other models. GP model also produces relatively good qua- lity predictions. Conversely, predictions based on the CIR model as a representative of short rate model family completely failed when describing reality. In a situation when the economy allows negative rates and there is simultaneously a significant likelihood of their implementation, I recommend to obtain predictions of Czech money market yield curve dynamics using GP model which allows existence of negative interest rates. This analysis also contains a statistical test for validating the predictive power of each model and information on other tests. Berkowitz test rejects a hypothesis of accurate predictions for each model. However, this fact is common in real data testing even when using relatively good model. This fact is especially caused by difficult fulfilment of test conditions in real world. To my knowledge, such an analysis of the predictive power of selected interest rate models moreover in the Czech financial market environment has not been published yet. The last goal of this thesis is to suggest an appropriate approach to obtaining pre- dictions of Czech government bonds risk premium dynamics. I define this risk premium as a difference between government bond yields and fixed rate of CZK IRS with the same length. I apply the GP model to describe the dynamics of this indicator of the Czech Republic credit risk. In order to obtain a time series of the risk premium which are necessary for estimation of GP model parameters I firstly estimate yield curves of Czech government bonds using Svensson model for each trading day since 2005. Resulting si- mulations of risk premium show that the GP model predicts the real development of risk premiums of all maturities relatively well. Hence, the proposed approach is suitable for modeling of Czech Republic credit risk based on the use of information extracted from financial markets. I have not registered proposed approach to risk premium modeling moreover in the Czech financial market environment in other publications.
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Czech administrative justice from the viewpoint of comparison with French and German system
Kukačová, Sára ; Matula, Miloš (advisor) ; Louda, Tomáš (referee)
Diploma thesis is devoted to the theme of Czech administrative justice, its current form and comparison with chosen models of European administrative justice, that is with French and German model. Goal of the thesis is on the basis of description and analysis of these models of administrative justice to get the comparison and evaluation of the differences and positive and negative elements of chosen models in relation to Czech system of administrative justice. The first part focuses on rather theoretical side and the introduction to this problem. Fundamental terms and characteristics are described and the concept of administrative justice is put to a broader scope. There is also mentioned the historical development of administrative justice in the Czech lands from year 1848 until the present day. The second part is devoted to the study of specific current legislation of chosen countries - Czech Republic, France and Germany. On this foundation is in the closing part accomplished the analysis and comparison of particular systems of administrative justice together with stating their mutual positives and negatives.
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Bank fees in Czech Republic
Burešová, Adéla ; Steininger, Michal (advisor) ; Eva, Eva (referee)
This thesis deals with bank fees in the Czech Republic, which has been a topical issue in recent years. The objective of this thesis is to analyse and compare bank fees in the Czech Republic. It also aims to evaluate selected bank fees in terms of their importance for generating profit for the banks as well as from the clients perspective. The introduction to the theoretical part describes the basic characteristics of the banking system. The thesis then presents bank products and services, bank fees and the bank fee policy. The work includes a survey and analysis of the banking market in term of banking institutions in the years 2007 to 2014. It also includes a financial analysis for the years 2007 to 2015 and an analysis of the banking market from the perspective of the client, which compares selected banking institutions on the basis of charges and selected banking products based on fees. It defines three sample groups for which the most suitable banking products and banking institutions are recommended. In conclusion, the results are formulated together with recommendations for banks and clients. For the client Student came out best a current account UniCredit Bank, U Konto for youngsters. The Active client is also recommended by UniCredit Bank with banking product of U Konto. For target group Pensioner is the most suitable banking institution mBank where the monthly cost is CZK 70. The client can save thousands of CZK per year by making the right choice.
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