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Index ekonomické svobody, případ České republiky
Shrbený, Filip ; Stroukal, Dominik (advisor) ; Máslo, Lukáš (referee)
We have identified number of possible advices for the Czech Republic to improve its rating for both Heritage Foundation and Fraser Institute Economic Freedom Index, which often leads to top 10 countries in the world. These advices range from cuts in government spending, betterment in judicial system, to the establishing healthier environment for startups and advices to combat corruption. We further noticed some divergence between above mentioned indexes and managed to evaluate those indexes, which showed the simplicity yet usefulness of Heritage EFI and flexibility and sensitivity of the Fraser EFI. Weak sides of the research were noted and ideas for further research were given.
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Social housing - comparison of Concept of Social Housing in the Czech Republic 2015-2025 and Austrian social model
Hejduk, Radim ; Krebs, Vojtěch (advisor) ; Barák, Vladimír (referee)
The thesis is focused on social housing - public policy, that is applied in many countries of the EU. Czech Republic is currently trying its implementation. Due to rising household's costs of housing, rising expenses on demand-oriented housing policy in form of housing benefits and difficult to solve social exclusion, social housing appears to be one of the more accessible ways of solution. The goal of the thesis is at first to analyze and evaluate known forms of social housing and its application from the economic perspective, then to form reccomendations for the Conception of Social Housing for the Czech Republic in the period 2015-2025 using comparison to already-existing Austrian model. This text answers the main research question how does functioning model of social housing look like and what are the economic impacts of it on households.
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Transport of Dangerous Substances in the Czech Republic
VANDAS, David
The topic of the diploma written assignment is "Transport of Dangerous Substances in the Czech Republic" and it was chosen for elaboration of the wholesome view on the road, train, ship and plane transportation of the hazardous materials and mixtures. These transportations represent a possible risk of damage to life, health, property or environment for the society. Hazardous materials and mixtures nowadays are being transported in large measures and there is an assumption in the future that the volume of the transported hazardous materials and mixtures will increase. For elaboration of this written assignment three hypothesis were given: a) Legal regulations of the European Union and the Czech Republic solve the problematic of the transportation of hazardous materials and mixtures well enough. b) The public has enough information about the transportation of the hazardous chemical substances or mixtures. c) People that work in the field of the transportation of hazardous materials or mixtures are well informed about the transportation of hazardous chemical substances or mixtures. For determining whether the legal regulations solve the problematic of the transportation of hazardous materials and mixtures well enough the literary sources which deal with this issue, legal regulations of the Czech Republic and the European Union and other international agreements were used. After working through these sources it was found out that the international, the EU and Czech legal regulations or agreements solve this issue well enough and emphasis is given on convergence of legal regulations of all transportations. Implementation of international agreements and legal regulations of the European Union into the legal regulations of the Czech Republic happens in the present time very fast and without failures. For figuring out the awareness of the public and awareness of the people working in the field of the transportation of hazardous materials and mixtures for the diploma written assignment on the topic of "The Transportation of Hazardous Materials and Mixtures on the Territory of the Czech Republic" there was a quantitative research made. The quantitative research was made with the help of handed out questionnaires. The public was represented by the employees of the Regional Municipalities of the Czech Republic. Both of the groups were given the same questionnaires. The results of the questionnaire research were evaluated, expressed in percentage and statistically assessed. For the statistical assessment the double selection T-test was used to find out whether the difference between the assessed groups is statistically important. People working in the transportation of hazardous substances and mixtures have sufficient information which was confirmed by the questionnaire research. By the made statistical assessment it was found out that the difference between the groups is statistically significant and so the public does not have sufficient information related to the transportation of hazardous substances and mixtures. Due to the results of the questionnaire research and mainly that the hypothesis b) - The public has enough information about the transportation of hazardous chemical substances or mixtures was not confirmed. In the conclusion of the written assignment there are a couple of suggestions for improvement of the awareness of the public. For example as a part of education at primary and high schools and training schools where this education is already running as a part of The Protection of Human during Incidents. This education has been going on since 2003. And that is why the older people in the public are not well met with this issue and they should be introduced to it by for example a media campaign by means of short TV spots on public television channels or by means of spots that already the Independent BESIP Department of the Ministry of Transportation makes up. These spots are called Besipky.
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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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the impact of the global economic crisis on international trade of the Czech republic
Sakhautdinov, Timur ; Drozen, František (advisor) ; Marková, Jana (referee)
This thesis addresses the effects of the global economic crisis on the situation in the international trade of the Czech Republic. I focused on exploring the causes of the crisis and its impact on international trade. The chosen problem I solved by using index methods, deduction, induction, and abstraction. Carried out by the research I've found specific effects on the territorial and commodity structure of Czech trade. The main findings are the impact of the crisis on the volume and structure of trade of the Czech Republic from the territorial point of view and according to the classification of SITC.
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Analysis of drawing contributions from the Regional Operational Programme in the Košice Region 2007 - 2013
Hupka, Peter ; Kalábová, Markéta (advisor) ; Abrhám, Josef (referee)
Regional policy is becoming one of the strategic priorities of the European Union after its extension. The main tools of the policy are subsidies for less advanced regions in EU. This work aims to evaluate the Regional operational programme in the Košice region during the programming period 2007 to 2013. In the theoretical part author describes the process of forming the European Union, the overall characteristics specified by EU funds and gives basic information on Slovak Republic and Košice Region. The analytical section is dedicated to the characteristics of the Regional operational program. This work compares the individual priority axes of the operational program and the successful utilization of the allocation. For an objective assessment Košice region is compared with other regions of the Slovak Republic at the level of priority axis. Based on the analysis the author reviewed the regional operational programme in the Košice region as successful with space for improvement in the fulfilment of allocations
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The capacity of the European Union to form a common foreign policy: The approach towards Russia during the crisis in Ukraine
Grycová, Adéla ; Rolenc, Jan Martin (advisor) ; Cibulková, Petra (referee)
The thesis deals with the issues of framing and europeanization of the foreign policy of the European Union in the context of an actorness of the EU. These two theoretical concepts are applied on the case of an approach of the Czech Republic and European Union towards Russian Federation during the crisis in Ukraine. The aim of this thesis is to find out if the European Union is capabble of affecting the behaviour of a member state in order to create unified and operational foreign policy. The first chapter deals with teoretical definition of the two concepts and detailed description of the stances of Czech Republic and European Union follows in the second one. On the basis of these chapters the assessment is conducted. The last part firstly concludes if any attempt of influecing is present and secondly the success rate of the attempt is evaluated.
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Analysis of readiness of the Czech Republic for entry into the Eurozone
Skála, Martin ; Pavelka, Tomáš (advisor) ; Krameš, Jaroslav (referee)
The aim of this thesis is to analyze readiness of the Czech Republic for accession to the European Monetary Union. Although we celebrated 12th anniversary of our membership in the European Union, the Czech government still has not set a date of entrance to the Eurozone. The theoretical part of my thesis focuses on analysis of fulfillment of Maastricht criteria, which had to be fulfilled by each candidate country for membership in the currency union. In the practical part of this thesis I will evaluate the macroeconomics impacts of adapting the common European currency in new member countries. In conclusion, I will try to outline benefits and costs of membership of the Czech Republic in the Eurozone.
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Economic diplomacy of the Czech Republic - a current situation and new challenges for the future
Polednik, Petr ; Peterková, Jana (advisor) ; Trávníčková, Zuzana (referee)
This thesis deals with economic diplomacy of the Czech Republic. The first chapter focuses on a definition, functions and tasks, players and models of management of economic diplomacy. The second chapter characterizes from a perspective of state actors approaches to economic diplomacy in selected European countries which can server as an inspiration for the Czech Republic. The third chapter is devoted to the current situation of the economic diplomacy of the Czech Republic, planned innovations and its possible development and challenges in the coming years.
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