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Impact of Universal Basic Income on Income and Poverty in Italy: A Multi-Scenario Analysis Using HFCS Data in EUROMOD
Petrus, Tomáš ; Kolář, Daniel (advisor) ; Šťastná, Lenka (referee)
Mikrosimulace základního nepodmíněného příjmu v EUROMOD přisprívají probíhající diskusi o sociálních důsledcích a rozpočtové proveditelnosti této politiky. Evropská HFCS data použitá v této práci umožňují zdanění majetku jako způsob financování, aby byl základní nepodmíněný příjem rozpočtově neutrální. Tato práce zkoumá vliv tří unikátních scénářů na redistribuci příjmů a míru ohrožení chudobou na různé části italské populace. Rozmanitost italských regionů a boj s veřejným dluhem mohou vážně ohrozit proveditelnost scénářů v reálném světě. Výsledky práce následují trend radikálního snižování celkové chudoby a nerovnosti pozorovaný v této oblasti výzkumu. Tyto scénáře, spolu s pevnou daní z majetku, mají nepříznivé dopady na starší věkové skupiny, které se spoléhají na starobní důchody. Systém sociálních dávek má ve scénářích různé úrovně náhraditelnosti, které významně ovlivňují dopad na ohrožené skupiny. Práce nastoluje potenciální zmírnění nežádoucích účinků, které lze analyzovat v dalším výzkumu. Mikrosimulace postrádá behaviorální dopad základního nepodmíněného příjmu na jednotlivce, který je zachycen v provedených studiích v Evropě a Severní Americe.
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The performance of the Czech Private Pension scheme: Current Design and its position within CEE countries
Hlaváč, Jan ; Schneider, Ondřej (advisor) ; Benáček, Vladimír (referee)
This thesis focuses on the comparison of financial performance of the Czech voluntary private pension scheme with five other reformed private pension schemes in the region of Central Eastern Europe (Bulgaria, Croatia, Hungary, Poland and Slovak Republic). The current state and the recent development of the Czech private pension scheme are analyzed in the first part of the thesis. In the main part of this work we construct the dataset of periodic scheme returns covering the last decade, and estimate the schemes Sharpe ratios (SR) for four reference benchmarks. To complement the analysis we also employ the Sharpe style analysis to evaluate the impact of managerial decisions of market selection/timing on the scheme returns. The findings suggest that except for Poland none of the schemes managed to beat its long-term domestic benchmark (10-year government bonds) as the SRs estimates turn out to be negative. The highest underperformance was found in the case of Czech Republic. The results of style analysis suggest a modest positive influence of the active managerial decisions on the scheme returns with respect to the passive investment strategies.
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Pensions from the point of view of utility theory
Kudlík, Michal ; Cipra, Tomáš (advisor) ; Zichová, Jitka (referee)
This work deals with pensions from the perspective of utility theory. We list several basic principles, characteristics of pensions and their classification. Part of the work is also the utility theory from the ordinal point of view of utility theory as well as in terms of cardinal utility functions. Afterwards, we formulate the tasks for the selected utility functions, which we will try to optimize by using utility functions. We transfer the task of maximizing objective function to the task with extreme bound corresponding to various annuity markets which we will solve by theory of Lagrange multipliers. Final result of the work should be calculation of annuity equivalent wealth per common utility function Constant relative risk aversion (CRRA) using different relative risk aversions and showing the optimum consumption strategy for pensioners calculated based on mortality tables for Czech republic from 2012. 1
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Risk comparison of the pay-as-you-go pension system and the private funds
Kolafa, Ondřej ; Teplý, Petr (advisor) ; Hurt, Jan (referee)
of the bachelor's thesis Title: Risk comparison of the pay-as-you-go pension system and the private funds Author: Ondřej Kolafa Department: Department of Probability and Mathematical Statistics Supervisor: PhDr. Petr Teplý Ph.D., Finance and Capital Markets, Institue of Economic Studies, Faculty of Social Sciences, Charles University in Prague Abstract: The thesis deals with risks of the pay-as-you-go pension system and the private funds, that are meant for savings for pensions. The aim of the thesis is to compare these two totally different systems and evaluate their risks. Private funds topic points out a development of funds that are similar to the funds mentioned in the pension reform concepts that were planned or done in the Czech and Slovak Republic. The risk analysis of the pay-as-you-go pension system studies population development in the Czech Republic and its effect on pensions. Finally, achieved outcomes are used to compare the pure pay-as-you-go pension system with the pay-as-you-go pension system combined with private funds; these comparasions are based on different scenarios of the economic development. Keywords: risk, pensions, pension funds, pay-as-you-go
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Attitudes toward retirement system of the Czech Republic – December 2019 2018
Spurný, Martin
In November, the Public Opinion Research Centre asked a set of questions related to attitudes of the Czech citizens towards the retirement system in the Czech Republic. Questions focused mainly on the current condition of the retirement system and its possible changes. Respondents also expressed level of their support for concrete measures and actions within the retirement system. The last question focused on the opinion whether the received finances from the social security system can cover funding of the pensions.
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Priorities of Funding in Various Areas of Social Policy – November 2018
Tuček, Milan
November research focused on priorities in funding of some individual areas of social policy from the state budget. Respondents should sort ten selected areas of social policy from the most important area to the least important area for them.Citizens perceive as the top priority the area of healthcare, followed by pensions and social security in sickness or in case of injury.
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Liberal Critique and Reforms of Welfare State - The Case of Chile's Pension Reform
Žídek, Bohumír ; Angelovská, Olga (advisor) ; Potůček, Martin (referee)
My master thesis explores classical liberal attitudes towards the Welfare State. It deals especially with concepts developed by the so-called new classical liberals (also called neoclassical liberals) represented by scholars of the Arizona School. I use their ideas to reconstruct free-market liberal theory of social justice, which is then applied to pension reforms in Chile and Sweden. The thesis also recollects critiques of public pension systems by public choice theory scholars, which are then used to explore a nature of the aforementioned pension reforms. In cases of both reforms, these theoretical frameworks are used to evaluate data obtained by a desk research. Relevant documents and also data of international organizations and national statistical offices were used. In its last part, the thesis evaluates primary data obtained by semi-standardized interviews with seven Czech classical liberals and explores their attitudes towards both the free market liberal theory of social justice and pension reforms in Chile and in Sweden. Abstrakt Diplomová práce zkoumá vztah klasického liberalismu k sociálnímu státu. Zabývá se zejména koncepty vyvinutými takzvanými novými klasickými liberály reprezentovanými především badateli arizonské školy. Jejich ideje využívám k rekonstrukci tržně liberální teorie...
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The Attitudes of Older Adults Towards Living in Retirement in Relation to the Area of Residence
Macas, Karel ; Kopecký, Martin (advisor) ; Záškodná, Helena (referee)
This diploma thesis deals with the analysis of plans, attitudes and opinions related to the retirement life of people in pre-retirement age. The role of preparing for life in retirement age is of increasing importance in locations with high proportion of people in pre-retirement age. These locations must be given the appropriate attention to minimize potential problem situations. In order to analyze the situation in a locality with a high proportion of older people, a quantitative survey was carried out at the Pokratice district of Litomerice. On the basis of the outputs of the survey, requirements and possible necessary changes in areas of development, transport services, accessibility of free time activities, health and social services are analyzed. In addition to the investigation itself, the work is based on other investigations carried out and other book and magazine sources, examples of good practice and strategical documents. The aim of the thesis is to analyze the current situation and propose necessary changes, which need to be implemented in order to minimize the problematic situations in connection with the retirement of a significant part of the inhabitants of the housing estates. Keywords Preparation for old age, regional planning, residence, active aging, quality of life in old age,...
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IDEA for the 2017 elections. Pensions and pensioners in election manifestos
Pertold, Filip ; Šatava, Jiří
In 16 of the past 20 years the pensions system’s expenditures have exceeded its revenues. Since 2010 the pensions deficit has reached 260 billion crowns. That is more than twice the total government expenditures on salaries in 2016. Nevertheless, in their election manifestos the parties do not declare any estimate the costs of their proposed measures, nor suggest what resources would be used to fund them. This suggests that the state budget will continue to fund a growing pensions deficit, to the detriment of other public spending.
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