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Vývoj kolektivního investování v období finanční krize v ČR, Slovensku a Rakousku
Stybor, Vojtěch
The thesis deals with development of collective investment in Czech Republic, Austria and Slovakia. Author divides the work into four main chapters. The first chapter deals with theoretical knowledge on collective investment schemes. The second part divides the development of collective investment into two parts to pre-crisis and crisis periods. In each of these periods then examines the values of the indicators for collective investment in individual states. The third chapter compares the calculated values among all countries. At the end of the thesis were included chapters a discussion and a conclusion that summarizes the results of the work.
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Možnosti řešení dluhové krize ve státech skupiny PIIGS
Skryjová, Kateřina
This bachelor thesis analyzes the current debt crisis in countries called PIIGS (Por-tugal, Italy, Ireland, Greece, Spain) and suggests possible solutions. The first part describes the development of the previous crisis and debt crisis as well. The sec-ond part focuses on PIIGS countries, analysis is made by case studies and graphs. The discussion is devoted to the recommendation of appropriate solutions for each country.
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Kvantitativní uvolňování a riziko růstu inflace v USA
Jarošová, Marie
The thesis is focused on quantitative easing, which used the U.S. central bank for the third time in a few years, to deepen the expansionary monetary policy. There is examining the relationship between quantitative easing and inflation, as the sharp rise in inflation is considered a major risk associated with quantitative release an. Relationship between quantitative easing and inflation is observed by means of simple regress analysis (using the OLS) and the moving correlation (rolling correlation) between each wheel QE with regard to the development of mortgage, financial and debt crisis.
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Comparison of the Market Regulation in the EU and in the USA in the Context of Economic Crisis
Beránek, Jaromír ; Hraba, Zdeněk (advisor) ; Borkovec, Aleš (referee)
Jaromír Beránek - Comparison of the Market Regulation in the EU and in the USA in the Context of Economic Crisis Abstract: Once the U.S. real estate bubble burst in 2007 and most of the major American banks ran into a financial distress following the rising number of mortgage defaults, few foresaw that these problems would grow into the biggest global crisis since 1930s. Soon it turned out that the fall was inevitable. Due to the lack of regulation an uncontrolled growth in bad credits occurred over the years preceding the crisis outbreak. Financial institutions, silently supported by credit rating agencies, started pushing complicated and opaque investment instruments into the hungry market, and investors gladly bought them, motivated by the promise of high bonuses. The ongoing process of globalization and international linking of financial markets significantly accelerated the evolvement of the crisis and contributed to its spread around the world. Burdened by the immense costs of bank bailouts governments of many countries faced a threat of an imminent bankruptcy, and were forced to seek international aid. In the EU, the USA and on the international scene, several initiatives arose, striving to create effective regulatory reforms and to strengthen tools for a timely identification and prevention of...
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Time-scale analysis of sovereign bonds market co-movement in the EU
Šmolík, Filip ; Vácha, Lukáš (advisor) ; Krištoufek, Ladislav (referee)
The thesis analyses co-movement of 10Y sovereign bond yields of 11 EU mem- bers (Greece, Spain, Portugal, Italy, France, Germany, Netherlands, Great Britain, Belgium, Sweden and Denmark) divided into the three groups (the Core of the Eurozone, the Periphery of the Eurozone, the states outside the Eurozone). In the center of attention are changes of co-movement in the crisis period, especially near the two significant dates - the fall of Lehman Brothers (15.9.2008) and the day, when increase of Greek public deficit was announced (20.10.2009). Main contribution of the thesis is usage of alternative methodol- ogy - wavelet transformation. It allows to research how co-movement changes across scales (frequencies) and through time. Wavelet coherence is used as well as wavelet bivariate and multiple correlation. The thesis brings three main findings: (1) co-movement significantly decreased in the crisis period, but the results differ in the groups, (2) co-movement significantly differs across scales, but its heterogeneity decreased in the crisis period, (3) near to the examined dates sharp and significant decrease of wavelet correlation was observable across lower scales in some states. JEL Classification C32, C49, C58, H63 Keywords Co-movement, Wavelet Transformation, Sovereign Debt Crisis, Sovereign Bond Yields,...
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Determinanty výnosov nemeckých dlhopisov
Jágriková, Veronika
Jágriková, V. Determinants of German bond yields. Diploma thesis, Brno: Mendel University, 2017. The master's thesis identifies the determinants of German bond yields during the financial and debt crisis. First part of the thesis focuses primarily on the financial and debt crisis and the resulting changes on the bond markets. The determinants influencing the bonds yields are examined subsequently. Second part of the thesis addresses testing of significance and influence of the determinants on German government bond yields. Empirical analysis has been conducted for bonds with different maturities in order to determine whether the impact intensity of individual determinants will change. Results of the conducted analysis are interpreted.
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Post-crisis development of Spain focusing on the banking system and the public sector
Nagyová-Tkáčová, Monika ; Bič, Josef (advisor) ; Antal, Jarolím (referee)
The thesis deals with the evolution of the Spanish economy, especially, after the economic crisis. It is focused on the banking system and the public sector of the country. In order to capture the theoretical basis, it processes the essence of banking, public finance theory and public debt. Subsequently, the thesis describes impacts on selected areas of the economy and the government's response to them. The main objective is to analyze the measures taken by the government and to evaluate their impact on the economic development of the landscape. At the same time, the thesis should provide recommendations for the future.
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Welfare state and indebtedness
Šnapka, Jakub ; Jiránková, Martina (advisor) ; Žamberský, Pavel (referee)
With respect to the eurozone debt crisis, the topics of public finance, chronic deficits of public budgets and sustainability of public debt came to the foreground of public debate. Due to that the discussions on legitimacy and sustainability of the welfare state in the form we know it today. In the discussions on public finance health, it is practically impossible to avoid the biggest public expenditures component, which, no doubt, the systems of social security, healthcare and other public services are. The thesis is dedicated to relationship of public indebtedness and public expenditures on welfare state of the old member states of the European Union. In three chapters, it analyzes theoretical grounds of welfare state and public indebtedness, public expenditures on welfare state and their influence on the public debt, influence of other budgetary components and ability of the state to collect taxes. The main question is whether countries which are spending relatively more on welfare state, are at the same time relatively more indebted.
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The Greek economy after the crisis with a focus on tourism
Baliamis, Michal ; Vošta, Milan (advisor) ; Sankot, Ondřej (referee)
This bachelor's thesis deals with the Greek economy in connection with the debt crisis with a focus on tourism. The thesis examines the influences of the Greek tourism on the national economy. It is necessary to define the basic theoretical background of both the world economy and tourism and give examples, what are the ways of tourism to affect the national economy, which is the task of the first chapter. The objective of the second chapter is to analyse the Greek economy using macroeconomic indicators in the past years. The second chapter also tracks the developments of the debt crisis, as one of the determinants of the current state of the national economy and tourism. The last chapter analyses tourism of the country using statistical indicators. It also evaluates the forecasts of the further development and offers the comparison of the competitiveness in tourism with the world.
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Comparative analysis of the development of holding sovereign securities in the banking sectors of the eurozone countries in 2005-2015
Topinka, Tomáš ; Pekárek, Štěpán (advisor) ; Bednář, Milan (referee)
The bachelor thesis is focused on the comparative analysis of holdings of sovereign securities in the banking sectors of the European Monetary Union member countries, especially during the financial and debt crisis. Based on the graphical analysis, it identifies and clarifies the volatility observed at the level of certain groups of countries. The work comes with the statement that, especially during the debt crisis, the so-called home-bias is reinforced and thus exposes the banking sector to the credit risk of the state. At the same time, bachelor thesis advocates setting up regulatory requirements to ensure, that a level of regulatory capital is created that objectively reflects the credit risk of the state.
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