|
|
Critical Analysis of Monetary Policy of the EU and its Impact on Countries in the Eurozone
Vavříková, Andrea ; Gabzdylová, Jana (referee) ; Škapa, Stanislav (advisor)
Diplomová práce se zabývá problematikou měnové politiky v Evropské unii, respektive v Evropské měnové unii. Samotnému vzniku Evropské měnové unie předcházelo dlouhé období integračních procesů a je spojováno se dvěma mezníky. Prvním mezníkem byl vznik Evropské centrální banky, která představuje jednu z nejdůležitějších institucí a je zodpovědná za provádění jednotné měnové politiky v eurozóně. Druhým důležitým momentem bylo zavedení společné evropské měny, eura. Navzdory podstatným obchodním výhodám spojených s přijetím eura se brzy ukázalo, že jednotná měnová politika nemusí vyhovovat všem zemím kvůli jejich odlišným ekonomickým potřebám a schopnostem, které vyžadují různou měnovou politiku. Tato práce se soustředí na současnou ekonomickou situaci v eurozóně se zvláštním důrazem na otázku dluhové krize.
|
|
|
Meta-Analysis in Economics: Application to Measuring the Euro's Trade Effect
Polák, Petr ; Havránek, Tomáš (advisor) ; Havránková, Zuzana (referee)
Meta-analysis is a very strong and effective tool designed for the synthesis of results of empirical research. It provides a possibility to make reliable conclusions and offers more systematic and unbiased view at empirical studies than do narrative reviews. This thesis begins with description of meta-analysis from the theoretical point of view and, therefore, is the first Czech-written methodology of modern meta-analysis suitable for economics. This part is followed by an applied meta-analysis that investigates the euro effect on common trade exchange, and the analysis is focused on publication bias and the use of the multilevel random effects model. The empirical part is based on 2580 estimates gathered from 33 studies that investigate the relationship between euro and trade volume. The meta-analysis reveals the presence of publication bias, confirms the economic research cycle hypothesis and estimates, according to the available literature, that the true Rose effect lies probably between 2 and 6 percent.
|
|
|
The Impact of Theory of Optimal Currency Areas on Discursus of Political Parties ČSSD and ODS about the Entry to the Eurozone Between the Years 2010 - 2012
Müller, Lukáš ; Kasáková, Zuzana (advisor) ; Svoboda, Karel (referee)
1 Abstract This essay is about the theory of optimal currency areas (OCA) and its reflection in public discussion of two biggest political parties in Czech Republic - ODS and ČSSD, about Czech Republic entering the European Monetary Union (EMU). Although EMU hadn't met the criteria of OCA before the examined period, both parties entered the elections in May 2010 with more or less pro-european program despite decreasing support of eurozone in Czech public opinion. ČSSD, as well as ODS, only limitedly mentioned the OCA in their argumentation whereas they explained their attitude with other reasons. While ČSSD remained loyal to its pro European policy even after the election, ODS started diverting from their European agenda right after them. This process ended with their demand for referendum about the entry of Czech Republic to the Eurozone. Before the elections, Social Democrats were the ones to discuss this topic the most, but afterwards their rhetoric limited mostly to reactions to public statements and actions of ODS only.
|
|
|
Analysis of Effects of the European Monetary Union on Merger and Acquisition Activity in Europe
Přerovský, David ; Novák, Jiří (advisor) ; Nechvátalová, Lenka (referee)
Analysis of Effects of the European Monetary Union on Merger and Acquisition Activity in Europe David Přerovský Abstract The aim of this thesis is to, firstly, analyze effects of the creation of the European Monetary Union (EMU) on cross-border merger and acquisition activity in Europe, and, secondly, to investigate whether joining the EMU after it had been established results in higher M&A activity. Our research utilizes the difference-in-differences and difference in difference in differences approaches in which we compare aggregate M&A activity in new adopters of the euro to that of a control country, whose aggregate M&A activity had followed a similar trend up until the adoption. These methods allow us to account for country-specific trends in M&A activity and the for the phenomenon of M&A waves. Our results show no evidence that creation of the EMU caused higher M&A activity among the members or higher M&A activity in general. For later joiners, no evidence of higher M&A activity as a result of adopting the euro is found either.
|
|
| |
|
|
Changes of Margaret Thatcher's policy towards Economic and Monetary Union
Dubská, Kateřina ; Mejstřík, Martin (advisor) ; Váška, Jan (referee)
This bachelor thesis "Changes of Margaret Thatcher's policy towards Economic and Monetary Union" attempts to describe the changes of Margaret Thatcher's policy towards commencing Economic and Monetary Union. The main aim of this thesis is to define how and why the policy had changed. Introductory chapters are dealing with Margaret Thatcher and her foreign policy, with Great Britain and its relationship towards European integration and with the history of European Community until 1970s. The main body of this work sums up the main parts of Margaret Thatcher's policy. It is following the negotiations of British rebate, Margaret Thatcher's attitude towards the Common Agricultural Policy, Single European Act (and single market), European Monetary System and Exchange Rate Mechanism and Margaret Thatcher's posture on starting Economic and Monetary Union. In the conclusion the thesis tries to answer if the Margaret Thatcher's policy can be classified as intergovernmentalistic. The paper also tries to summarize the changes of Margaret Thatcher's policy towards the negotiation of the Economic and Monetary Union of European Community. The thesis also attempts to answer why this policy was changed and which factors led to these changes.
|
|
|
Supervision over the banking industry in the EU Member States
Kropjok, Vít ; Kohajda, Michael (advisor) ; Kotáb, Petr (referee)
The goal of my thesis on Supervision over the banking industry in the EU member states is to describe critically and to define newly engendering concept of the banking union. It is a very actual topic because the effective mechanism creation, which should solve problems of the European banking sector, is currently one of the primary goals of the European Union. The study is divided into three chapters. The first chapter is the theoretical one. The definition and differentiation of the essential terms such as supervision and surveillance can be found there. Further the basic theoretical modules can be found there, from which it is possible to stem during the banking supervision implementation in practice. The second and the third chapters are the analytical parts. The introduction of the second chapter glances at the backgrounds of the legislative proposals acceptance in this area. Afterwards the chapter is already focused on four pillars of the proposed Banking union. The first pillar is formed with so called "single rule book", thus the uniform regulatory rules that are the implementation of the requirements expressed in so called Basel III. In this part of the study there is outlined why it is not quite happy at present to burden the credit institutions in the European Union even more through...
|
|
|
Czech national bank, legal status and content of activity
Semecký, Petr ; Bakeš, Milan (advisor) ; Kohajda, Michael (referee) ; Karfík, Zdeněk (referee)
disertační práce Petr Semecký Česká národní banka, právní postavení a náplň činnosti 5 Abstract A. Objectives The main goal of the dissertation "The Czech National Bank, legal status and content of activity" is to quantify, qualify and draw as exact as possible conclusions about some aspects of the development, status and activities of the Czech National Bank in the future. To solve this task, the author has used in the introduction of this work three following key questions: 1. What are the implications for the Czech National Bank of the new bodies supervising the financial markets at european level? 2. What are the benefits and negatives of adopting the euro for the Czech Republic and should the Czech Republic actually join the European Monetary Union? 3. What impact will have the amendment of the Capital Adequacy Directive (the "Basel II") on the activities of the Czech National Bank? B. Methods By creating this work was used a wide range of research methods to ensure that there will be drawn conclusions with the best possible informative value. It is possible to mention particularly the method of recherche, abstraction, comparison and synthesis. C. Sources As the most important sources used by creating the work can be mentioned ecpecially, scientific publications, monographs, articles published...
|
|
|
The Impact of Theory of Optimal Currency Areas on Discursus of Political Parties ČSSD and ODS about the Entry to the Eurozone Between the Years 2010 - 2012
Müller, Lukáš ; Kasáková, Zuzana (advisor) ; Svoboda, Karel (referee)
1 Abstract This essay is about the theory of optimal currency areas (OCA) and its reflection in public discussion of two biggest political parties in Czech Republic - ODS and ČSSD, about Czech Republic entering the European Monetary Union (EMU). Although EMU hadn't met the criteria of OCA before the examined period, both parties entered the elections in May 2010 with more or less pro-european program despite decreasing support of eurozone in Czech public opinion. ČSSD, as well as ODS, only limitedly mentioned the OCA in their argumentation whereas they explained their attitude with other reasons. While ČSSD remained loyal to its pro European policy even after the election, ODS started diverting from their European agenda right after them. This process ended with their demand for referendum about the entry of Czech Republic to the Eurozone. Before the elections, Social Democrats were the ones to discuss this topic the most, but afterwards their rhetoric limited mostly to reactions to public statements and actions of ODS only.
|
|
|
The Impact of Theory of Optimal Currency Areas on Discursus of Political Parties ČSSD and ODS about the Entry to the Eurozone Between the Years 2010 - 2012
Müller, Lukáš ; Kasáková, Zuzana (advisor) ; Svoboda, Karel (referee)
This essay is about the theory of optimal currency areas (OCA) and its reflection in public discussion of two biggest political parties in Czech Republic - ODS and ČSSD, about Czech Republic entering the European Monetary Union (EMU). Although EMU hadn't met the criteria of OCA before the examined period, both parties entered the elections in May 2010 with more or less pro-european program despite decreasing support of eurozone in Czech public opinion. While ČSSD only limitedly mentioned the OCA in their agumentation and explained their attitude with other reasons, ODS pointed out the heterogenity of EMU, which avoided the eurozone from efective dealing with assymetric economic shocks. While ČSSD remained loyal to its pro European policy even after the election, ODS started diverting from their European agenda right after them. This process ended with their demand for referendum about the entry of Czech Republic to the Eurozone. Before the elections, Social Democrats were the ones to discuss this topic the most, but afterwards their rhetoric limited mostly to reactions to public statements and actions of ODS only.
|
guest ::
