|
|
The Economic Importance of Splitting the European Monetary Union
Peľak, Branislav ; Žamberský, Pavel (advisor) ; Neumann, Pavel (referee)
From recent research on optimum currency areas it is clear that the European Monetary Union does not represent an optimum currency area. Since 2008 the countries of southern part of the eurozone have found themselves in a financial, economic and debt crisis. Therefore a question about the economic importance of splitting the European Monetary Union arises. The aim of this thesis is to give answer to the question of how to divide the eurozone so that the newly formed monetary unions could be considered optimum currency unions, alternatively, so that the newly formed monetary unions are more optimal than currently the eurozone is. Using the method of analysis and synthesis we have reached a decision to divide the eurozone into two parts. One part comprising the southern countries -- Portugal, Spain, Italy, Greece, Malta and Cyprus and the other part comprising the rest of the eurozone.
|
|
|
Development of nominal and real convergence in Czech and Slovak Republic and entry of the Czech Republic into the EMU
Gajoš, Ondřej ; Žamberský, Pavel (advisor) ; Jiránková, Martina (referee)
The aim of this thesis is to define nominal and real convergence within the area of the European Union and to assess its development on the example of the Czech and Slovak Republics. This dissertation is divided into three integrated sections. The theoretical part analyses basic economic concepts related to the issue of convergence and stability of joint economic units. The topics covered include the Maastricht criteria, their relevance, currentness and possible conflict between nominal and real convergence with the accession of new countries, then the theory of optimum currency area (OCA), theory of endogeneity and exogeneity and the linkage on fiscal policy and fiscal discipline in the environment of the European Union and the eurozone. Special attention is focused on the development of fiscal policy following from the establishment of the Stability and Growth Pact, including its reforms and recent changes in the form of the Euro Plus Pact and the Fiscal Convention. To satisfy the need for quantitative evaluation of given hypotheses, the second (empirical and analytical) part offers two self-constructed indices - the index of real convergence and fiscal discipline index. Based on these indices, relationship between the performance criteria of nominal and the real economy is monitored in the evaluated cohort. The last part of this work is dedicated to synthesis and application of findings from the previous sections upon which conclusions and recommendations for possible entry of the Czech Republic into the euro area are made.
|
|
|
The convergence process of the Czech Republic to European monetary union
Kutinová, Hana ; Mandel, Martin (advisor) ; Skoupil, Lubomír (referee)
The aim of this thesis is to evaluate the convergence process of the Czech Republic. The thesis describes the historical background of the Treaty on European Union and the criteria for adopting the euro are described in detail. The convergence process of the Czech Republic is viewed from the perspective of a nominal convergence (inflation rates, government finance, exchange rates, long-term interest rates) as well as a real convergence (measured by GDP per capita in purchasing power parity). Further, the attention is paid to the institutional framework of fiscal policy of the Czech Republic. Indicators of economic harmonization are also analyzed, such as the business cycle, interest rates, exchange rates and stock indices. The comparative method is used to evaluate -- development indicators are compared over time and with countries in a similar position with the Czech Republic.
|
|
|
Monetary policy of Czech National Bank and the perspectives of acceptance of euro
Broftová, Jana ; Koderová, Jitka (advisor) ; Šedivý, Jan (referee)
Thesis called "Monetary policy of Czech National Bank and the perspectives of acceptance of euro" is mainly focused on convergence process in Czech Republic. First part of the work consists of current monetary policy of Czech National Bank and characteristics of monetary cooperation development needed for Economic and monetary union establishment. Real convergence state evaluation and maastricht criteria discharging in Czech Republic are the main goals of the thesis. Current global financial crisis is shown in readiness of Czech Republic of EMU entering conclusions.
|
|
|
Spain - Economic development and its position within the EU
Koppánová, Martina ; Jeníček, Vladimír (advisor) ; Abrhám, Josef (referee)
The aim of this work was to provide a comprehensive overview of the issues of economic development of Spain and its operation within the EC / EU.In the first chapter is mentioned basic information on the country. These data are important for understanding the circumstances that led to the integration of Spain into European structures. Then second chapter describes the negotiation process and the economic and political effects of enlargement of the EC.The third chapter contains information about the economic development of Spain before and after joining the EC. It also addresses the problem of unemployment, immigration and economic consequences of the current economic crisis.The last chapter is devoted to the role of Spain and its position on the most important issues of the integration process.
|
|
|
Adopting the Euro in the Czech Republic
Ira, Jiří ; Janáček, Kamil (advisor) ; Ševčíková, Michaela (referee)
The aim of this thesis was to analyze, if the Czech Republic is ready to adopt the Euro and to evaluate benefits and risks of this step. The analysis is comlemented by evaluation of Maastricht criteria, and there is a short view of their fulfilling in the future. The problem of real convergence is discussed in the following chapter. I paid attention to business cycle synchronization in selected countries, to the situation on the Czech labour market and the fiscal policy. Both of them could play the important role after transition to commom monetary policy as other adjustable mechanisms. These mechanisms would help to absorb asymetric shocks our economy after joining eurozone. Finally I explain the dilemma of exchange rate mechanism ERM II and I mention the impact of global crisis on decision on adopting Euro in the Czech Republic.
|
|
|
Analysis of nominal and real convergence of Czech republic and Slovakia
Andrejová, Margareta ; Plchová, Božena (advisor) ; Korandová, Jiřina (referee)
In the first chapter the thesis deals with the historical process of formation of the EU and EMU, in the other words euro area. Second chapter shows us the nominal and real analysis of convergence of Czech republic and Slovakia to the average of the EU 27 and former EU 15. Following chapters are about the process of ingression of Czech republic and Slovakia firstly to the EU and nowadays to the euro area. The aim of the thesis is to compare the process of the integration in these countries.
|
guest ::
