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Transition to a Cashless Society: Impact on Economic Activity
Berkimbayeva, Aliya ; Komárek, Luboš (advisor) ; Schneider, Ondřej (referee)
The present study aims to deliberate over a wider perspective on the topic of physical currency, assuming the global conversion to digital payment instruments affecting stakeholders at different scales alters number of aspects. The theoretical section discusses the process of transition to cashless society by identifying transformation stages and the barriers faced to undertake the shift. Subsequently, the links between factors as business environment, globalization, and shadow economy in relation to physical currency in circulation are examined by static and dynamic panel data analyses applying annual panel data for 70 countries for the period from 2013 to 2017. The conclusive inference is formulated based on outputs from the Blundell-Bond (1998) system GMM estimator. The empirical results provide significant evidence on negative relationship between business environment and physical currency in circulation and contrary positive link for shadow economy. Further, the greater impact of business environment on physical money among variables included, implies the promotion of electronic money solutions solely to be not sufficient to transit to cashless economy. We also construct transformation score ranking for the last five years to snap the transit stage among countries included in the study with...
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The effects pf VAT harmonisation on tax revenue in the European Union
Kabátek, Jan ; Schneider, Ondřej (advisor) ; Jareš, Michal (referee)
This thesis focuses on the revenue effects of the value added tax (VAT) harmonisation in the European context. We elaborate on the topic by means of a 30-year panel regression analysis of 15 European countries, which derives the impact of national VAT rate convergence towards the regional average. The regression results confirm that the harmonisation can raise efficiency of national VAT instruments, as the revenue increases with narrowing of the VAT rate differences. The results of the regression analysis are further used to estimate potential revenue gain from the VAT harmonisation in the year 2009. The computed revenue gain represents approximately 5% of the European VAT revenue. Apart from the revenue gain identification, we also analyse the current defficiencies of European VAT scheme, i.e., Cross-border shopping and Carousel frauds, and discuss potential solutions for both phenomena. In both cases, the VAT rate harmonisation is confirmed helpful, having potential to eradicate these inherent efficiency threats, or at least to facilitate the reforms necessary for their abolition.
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Penzijní reformy v Evropské unii: Můžeme se poučit?
Peroutková, Hana ; Schneider, Ondřej (advisor) ; Gregor, Martin (referee)
This diploma thesis tries to provide an overview of pension systems and pension reforms in the EU countries. To describe characteristics of pension systems together with latest reform steps more comprehensively, a comparative typology of pension systems and reforms was performed. Moreover, this analysis brings interesting findings about a link between pension reform strategies and characteristics of pension systems together with demographic situation of European Union countries. The analysis is based on principal component analysis of qualitative data and preference mapping (multidimensional preference analysis). The pension system characteristics include variables describing a pension generosity, a development of private pension schemes, and a labor force participation of older workers. To provide a compact overview of pension reforms in the European Union, at first the reasons for implementing necessary pension reforms are listed, followed by description of the first and second tier of pension systems, pension eligibility ages, several economic indicators of pension entitlements, and expenditures on public pension systems. Comparison of two main ways of financing the pension system (PAYG and funded) is important background for examination of main reform strategies of pension reforms that is also...
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Pension Systems Sustainability in the European Union
Bronec, Ondřej ; Schneider, Ondřej (advisor) ; Kopečná, Vědunka (referee)
This thesis explores the future of pension systems of the European Union and Norway in the period between years 2016 and 2080. Due to demographic trends in fertility and life expectancy the number of people in working age declines and the number of people applicable for public pensions grows. This leads to increase in pressure put on public pensions and increase in pension expenditure in terms of GDP. By using EUROPOP2015 population predictions together with several economic predictions from the 2018 Ageing Report this thesis tries to capture future scenarios of pension expenditure. The results suggest significant challenges for most countries in the EU. We further analyse the results under different series of demographic assumptions identifying fertility as the most important factor and noticing different behaviour among states of Western and Eastern Europe. Finally, we try to test possible parametric solutions to compensate for increases in pension expenditure. We arrive at the conclusion that 8-10 year increase in pensionable age would stabilize the expenditure up to the year 2080 and a similar result would be achieved by nominal pension growth being equal to only 60% to 70% of nominal wage growth.
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Securing a worthwhile retirement despite the state's social system
Drozd, Zdeněk ; Hollmannová, Monika (advisor) ; Schneider, Ondřej (referee)
The goal of this thesis is to analyze the opportunities available to each individual who decides to assure sufficient sources for financing his old age expenditures by himself. The development of thi pension systems across the world and in the Czech Republic with respect to the current problems caused by worsening of the demographic situation is described in the first part. The main part of the thesis focues on the individual instruments of financial and capital markets that are able to increase the value of funds saved in the course of life of an individual and help with the preparation of sources for retirement. The above alternatives are, thereafter, applied on the case of an average individual who is at the beginning of his career and who will probably be most affected by the potential crisis of the pension system.
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Tax and health care challenges in economic policy : three essays
Chalupka, Radovan ; Schneider, Ondřej (advisor) ; Dlouhý, Martin (referee) ; NÁHRADNÍ, OPONENT (referee)
The first paper evaluates tax legislation in Slovakia, effected January 2004 and major changes in the period 2005 - 2010, according to principles of optimal taxation and optimal tax systems. The author evaluates the Slovak system with particular regard to taxes on labour, taxes on capital and taxes on consumption. The adoption of a flat personal-income-tax rate and a uniform VAT rate is viewed as in line with the optimal taxation theory, and the projected lessening of administrative costs and degree of tax evasion is positively evaluated. However, it is concluded that there is still room for improving the system by further shifting the burden away from taxes on labour to higher taxation of consumption and capital. The second paper analyses possible options to improve the risk adjustment of the health insurance system in the Czech Republic. Out of possible options it argues for including Pharmaceutical Cost Groups (PCGs) as additional risk factors since it is an improvement that can be implemented almost instantaneously. On real data from an anonymous sickness fund it confirms that predictive performance of PCGs models is consistently better than the performance of the demographic model that is currently used. The study also describes and examines the Czech health insurance market and implications of...
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