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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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Influence of social politics on fertility rate in specific regions of Czech republic
Dvořák, Josef ; Melzochová, Jitka (advisor) ; Babin, Jan (referee)
Thesis is focused on relationship between fertility rate and tools of state support. The goal is to reveal relationship between these two factors. Partial goal is to discover specific effects of tools of state support in specific regions of Czech republic. I have aimed on research at national level and also specific regions between years 1993-2014. In order to find these relationships I used method that compares differences in development of the fertility rate. After that, I set up regression model solved by method called fixed effects. For specific regions analysis was used OLS method. Model was able to explain more than 80 % of variability. This results can be used for predicting of citizens behavior, when some changes in family allowances occurs. Main finding is, that most motivating tools are parenting allowances and child benefits.
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The development of government debt in the Czech Republic from 1993 to 2015
Zeman, Mikuláš ; Klement, Josef (advisor) ; Vebrová, Ludmila (referee)
The aim of this bachelor thesis is to analyse the development of government debt in the Czech Republic from 1993 to 2015 with respect to the development of revenues and expenses of national budget as well as the development of macroeconomic indicators. The thesis is focused on evaluation of the economic policy of respective governments during the period and assessment of the effect of political reasons on the development of government debt. It also comprises a comparison of the situation in the Czech Republic with the situation in certain post - communist states. The theoretical part describes main notions the thesis deals with. Eventually it presents thoughts of selected economists on the economic policy. The practical part carries out analysis of the development of government debt in respective periods focusing on revenues and expenses, and the development of selected macroeconomic indicators. Evaluation of the economic policy of respective governments is also included. In its conclusion the thesis assesses an effect of political reasons on the amount of the government debt in view of relevant theories and hypotheses. The analysis showed that under the studied circumstances only one of the hypotheses became evident, namely that a weak position of the government leads to remarkable budgetary deficits.
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Sustainable tourism development of Vysocina Region
Veselá, Markéta ; Macháček, Jaroslav (advisor) ; Vondráková, Zuzana (referee)
The diploma thesis deals with the topic of sustainable tourism development at the regional level. This phenomenon is elaborated on the example of Vysocina Region. To evaluate sustainability of its development, the potential of this touristic destination is researched regarding various areas, including key products. These are subjected to comparisons with recommendations of significant tourism organization for the purpose of assessing the sustainability of tourism. The diploma thesis also includes a comparison with other Czech regions experience as a touristic destination. Vysocina Region has favourable initial conditions for its sustainable development, especially regarding supply of key products, which include both environmentally friendly goods and cultural attractiveness contributing to the personal development of individuals and promoting intercultural tolerance. The main issue appears to be the spatial imbalance of its development in the region, caused mainly by the concentration of tourist activities to certain areas and low local initiative in the less attractive areas. The diploma thesis proposes a number of solutions, such as utilization of geocaching and products of gastroturism, supporting the foundation of local destination management organisations, promoting cycling tourism and the foundation of highly visited tourist destinations.
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Urbanization in China: Sustainability of Chinese Cities
Králíková, Petra ; Stuchlíková, Zuzana (advisor) ; Neumann, Pavel (referee)
The aim of the master thesis is to characterize development trends of Chinese urbanization since the establishment of People´s Republic of China until today, approaches to these trends and evaluate their sustainability. Thesis includes four main parts. The first part introduces main urbanization theories: Stages of Urban Development, Differential Urbanization, and Environmental Kuznets Curve. The second part characterizes the development of Chinese urbanization, defines two main determinants of the future development and tries to cover different potential future scenarios. The third part deals with Chinese urban policies, such as five-year-plans, Urbanization plan and reforms. After that, the sustainability issue is evaluated. Last part of the thesis deals with urbanization trends and policies in Chongqing municipality.
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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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Potential of IoT in Smart City
Pavlíček, Tomáš ; Gála, Libor (advisor) ; Basl, Josef (referee)
The aim of this masters thesis is to identify, in which phase of adoption of Internet of Things (IoT) application areas of concept Smart City are nowadays Czech regional cities, what is their outlook to 2025 and also identify in which dimensions of concept Smart city, supported by IoT technologies, perceive Czech regional cities the greatest potential. Based on information obtained from the studied materials, the concept of Internet of Things (IoT) is described, along with a detailed description of one of its application area, namely Smart City. This area is further divided into specific dimensions, that cover specific application areas which can, through internet technology, support things in a special way. With these insights, the questionnaire (built on identified IoT application areas of smart city) was developed. Thesis should be beneficial for all towns in the Czech Republic, because it provides a comprehensive view of individual IoT application areas of concept Smart City including information on which of these IoT application areas are currently focusing regional cities, and on which they want to focus to the future. On the other hand, the survey results could also be beneficial for commercial entities, which focus on IoT implementation in cities. These entities will be able to recognise which IoT products are currently best for cities.
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Role of the chancellor in the foreign policy of the Federal Republic of Germany: Angela Merkel
Farská, Kateřina ; Druláková, Radka (advisor) ; Dubský, Zbyněk (referee)
This master thesis is concerned with the role of the chancellor in the foreign policy with respect to the institutional possibilities that the German political system provides him, and also with respect to the personality of the chancellor - it strives to answer the question, if it is possible to identify the personality impact in the chancellor foreign policy positions. As the case example the current chancellor Angela Merkel has been chosen, who serves for a period long enough to carry out the research and who is at the same time well-respected personality abroad. The thesis comes to the conclusion that the chancellor has the rights to intervene in the foreign policy and uses those rights. By means of the discourse and content analysis of chancellor's speeches it has been possible to identify foreign policy preferences of the chancellor which can be associated with her personal life experience.
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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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