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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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Pulsed liquid jet generated by pulse multiplication technique
Dvorský, R. ; Sitek, Libor ; Sochor, T.
First theoretical papers summarizing the high mechanical energy cumulation when high-speed drops impacting the solid surface as a result of the water hammer effect have been known since 1960’s. Heymann has demonstrated that pressure maximum in the impact of a spherical drop of a liquid is several times higher than the presupposed maximum for the classical water hammer effect. The latter maximum pressure itself exceeds the mere stagnation pressure of the continuous jet many times hereat. When developing devices for pulse jet generation a new generalization of the classical water hammer theory for high pressures has been implemented. Based on this the new patented principle of “pulse multiplication” has been formulated. The pulse multiplier is the source of high-pressure pulses with 100% depth of modulation of liquid jet discharge velocity that allows increasing the jet disintegration effect significantly without the abrasive material application.
Fulltext: content.csg - DOC Plný tet: UGN_0398574 - DOC
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Integrated Education of a Pupil with Special educational needs - Case Study
Habartová, Iva ; Mrkosová, Eva (advisor) ; Ptáčková, Klára (referee)
The aim of this thesis is to analyse the current situation in integrated educating of a pupil with special educational needs, or more specifically, of a child with high functioning autism combined with practical deafness. Through analysis of specialised literature, the theoretical part defines the expression integration; other definitions include hearing disability and autism as the causes limiting the pupil's inclusion in educating in a mainstream elementary school. The practical part of the thesis includes a case study - description of the pupil's case. Experience is described from the current integrated education in a special elementary school where the pupil is educated according to the Framework Educational Program for Elementary Schools, with the prospective of upcoming re-integration into the mainstream elementary school, or, as the case may be, depending on the parents' decision, his integration in an elementary school for hearing impaired children. In drawing up the case study, the following methods were applied: observation and analysis of the pupil's educational products.
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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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Changes in structure and phase composition in the surface of tram rail
Švábenská, Eva ; Roupcová, Pavla ; Schneeweiss, Oldřich
We have investigated structure and phase composition of surface layer of tram rails after long time running and the results were compared with those obtained on the original part of material. Changes due to effects of severe plastic deformation together with thermal shocks by friction process were expected. The information about structure and phase composition was obtained by optical and scanning electron microscopy, X-Ray Powder Diffraction, Mössbauer Spectroscopy and Glow Discharge Emission Spectroscopy (GDOES) and this was completed by microhardness measurements. The results show that the surface layer in comparison with the original material exhibits important changes in grain structure, an increase in microhardness and high content of iron oxide and hydrooxides. According to the depth profile of the chemical composition measured by GDOES there is an increase in carbon content in the surface layer which can be effect of up-hill diffusion.
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STRAIN ENGINEERING OF THE ELECTRONIC STRUCTURE OF 2D MATERIALS
del Corro, Elena ; Peňa-Alvarez, M. ; Morales-García, A. ; Bouša, Milan ; Řáhová, Jaroslava ; Kavan, Ladislav ; Kalbáč, Martin ; Frank, Otakar
The research on graphene has attracted much attention since its first successful preparation in 2004. It possesses many unique properties, such as an extreme stiffness and strength, high electron mobility, ballistic transport even at room temperature, superior thermal conductivity and many others. The affection for graphene was followed swiftly by a keen interest in other two dimensional materials like transition metal dichalcogenides. As has been predicted and in part proven experimentally, the electronic properties of these materials can be modified by various means. The most common ones include covalent or non-covalent chemistry, electrochemical, gate or atomic doping, or quantum confinement. None of these methods has proven universal enough in terms of the devices' characteristics or scalability. However, another approach is known mechanical strain/stress, but experiments in that direction are scarce, in spite of their high promises.\nThe primary challenge consists in the understanding of the mechanical properties of 2D materials and in the ability to quantify the lattice deformation. Several techniques can be then used to apply strain to the specimens and thus to induce changes in their electronic structure. We will review their basic concepts and some of the examples so far documented experimentally and/or theoretically.
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Micro-electromembrane extraction across multiple aqueous and organic phases for selective pretreatment of raw biological samples
Kubáň, Pavel ; Boček, Petr ; Seip, K. F. ; Gjelstad, A. ; Pedersen-Bjergaard, S.
Micro-electromembrane extraction (μ-EME) across multiple aqueous and organic\nsolutions was developed for selective extractions of various analytes from untreated\nbiological samples. The novel approach requires μL volumes of samples and organic\nsolvents, which form consecutive immiscible plugs in a transparent polymeric capillary\nand the extraction process is accelerated by application of d.c. voltage. Number of the\nplugs, their composition, volume and sequence in the extraction capillary can be chosen\nspecifically for each particular application and high variability and selectivity of the\nextraction process can be achieved. In this contribution, we demonstrate suitability of\na five-phase μ-EME system for simultaneous extractions of cations and anions from\nurine and for selective extractions of basic analytes based on their acid-base strength\nfrom plasma.
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ELECTRON BEAM REMELTING OF PLASMA SPRAYED ALUMINA COATINGS
Matějíček, Jiří ; Veverka, J. ; Čížek, J. ; Kouřil, J.
Plasma sprayed alumina coatings find numerous applications in various fields, where they enhance the properties of the base material. Examples include thermal barriers, wear resistance, electrical insulation, and diffusion and corrosion barriers. A typical structure of plasma sprayed coatings, containing a multitude of voids and imperfectly bonded interfaces, gives them unique properties - particularly low thermal conductivity, high strain tolerance, etc. However, for certain applications such as permeation barriers or wear resistance, these voids may be detrimental.\nThis paper reports on the first experiments with remelting of plasma sprayed alumina coatings by electron beam technology, with the purpose of densifying the coatings and thereby eliminating the voids. Throughout the study, several parameters of the e-beam device were varied - beam current, traverse velocity and number of passes. The treated coatings were observed by light and electron microscopy and the thickness, structure and surface morphology of the remelted layer were determined and correlated with the process parameters. Based on the first series of experiments, the e-beam settings leading to dense and smooth remelted layer of sufficient thickness were obtained. In this layer, a change of phase composition and a marked increase in hardness were observed.\n
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Nutrition of pregnant - reccomendation and reality
FAJMONOVÁ, Simona
For my bachelor thesis I have chosen the theme : Nutrition of pregnant women recommendations and reality. The theoretical part includes the specifics of nutrition in preconception period and pregnancy, risk groups of pregnant women, high-risk behavior and a chapter about dietary supplementation in pregnancy. Pregnancy is an important period in a woman's life. The changes that accompany pregnancy also impose increased demands on the supply of the body with nutrients. I have chosen the method of a survey for the processing of the research part of my thesis. The practical part includes the results of the survey, which was attended by 80 women in the 7th-9th month of pregnancy. The questionnaire asked for basic information besides the weight, height and weight gain in pregnancy, also eating habits, fluid intake, inadequate habits (alcohol, smoking), use of dietary supplements, awareness of pregnant women and their physical activity. The questionnaires were processed in Microsoft Excel using tables and graphs. All collected pieces of information about dietary habits were compared with the recommendations for pregnant women. The aim of this thesis was to find out what is the reality of eating habits of pregnant women compared with recommendations. Another aim was to determine, whether pregnant women are well informed about the nutrition recommendations during their pregnancy and where they get the information from. Further aim was to explore, whether pregnant women use nutritional supplements before or during pregnancy and what kind of them. The last aim was to determine some of the bad habits during pregnancy (e.g. alcohol , smoking). The results of the questionnaire survey showed that by the majority of pregnant women the reality and recommendations coincided in water intake and beverage preference. Most of them preferred water or tea. Coffee consumption was also by the majority of them problem-free. Eating meat and eggs corresponded with the recommendations for a large group of respondents. As for legumes, fish and fish products, their consumption corresponded with the recommendations by only about half of the women. Eating fruits and vegetables were in the majority of pregnant women unfortunately insufficient as well as the consumption of milk and dairy products, nuts and seeds. It would be very appropriate to increase consumption of these groups of food. Conversely, the consumption of sausages and sweets, which turned out to be more frequent, should be reduced . Most women were well informed about the nutrition recommendations during their pregnancy, in most cases from the media or pregnancy counseling from a doctor. Here, I would suggest creating a website for pregnant women offering really reliable information. Nutritional supplements related to pregnancy were used by about half of the respondents. Only less than a half of the surveyed women supplemented folic acid in preconception period. I would suggest to create some information leaflets about the suitability of folic acid supplementation in preconception period and place them in the gynecological outpatient's clinics . Pregnant women ordinarily didn't smoke and consume alcohol. Occasional alcohol consumption stated 14 % of women. It seems that women are informed enough about the risk of smoking and alcohol consumption.
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