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National Repository of Grey Literature 2 records found  Search took 0.01 seconds. 
Consumption, price expectations and deflatively-recessive spiral
 Plný, Petr ; Mandel, Martin (advisor) ; Tran, Van Quang (referee)
This thesis examines the relationship between price expectations and current consumption. Especially, whether the postponement of final consumption expenditure by households, as a result of their declining price expectations; which may be a deflatively-recessive spiral starter; coincides with economic theory and practice. Based on this, appropriate economic policy recommendations can be drawn. The analysis in the framework of intertemporal consumer model of two periods extended by inflation and the risk confirms this hypothesis. Price expectations positively affect current consumption through the intertemporal substitution effect of real interest rate changes. However, certain assumptions must be fulfilled. Especially, the economy must be in a fixed nominal interest rate environment, the substitution effect must not be offset by the effect of a change in the expected real disposable income or the income effect of the change in the real interest rate and the households must have a higher disposable income so that they can afford to postpone consumption. These findings coincide with the conclusions of the empirical analyzes mentioned in this thesis.
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Příspěvek k rakouské teorii hospodářského cyklu: Nejistota a cenová očekávání
 Frömmel, Tomáš ; Ševčík, Miroslav (advisor) ; Potužák, Pavel (referee)
Common critique of the Austrian business cycle theory states that the Austrian cycle could not be initiated under the rational expectations hypothesis. This thesis therefore investigates the role of price expectations of entrepreneurs in the Austrian cycle theory. We conclude that this theory might be compatible with rational expectations only under several assumptions. The rational expectations hypothesis is, however, evaluated rather critically concluding it is quite strong and unrealistic assumption. Various regimes of monetary policy are discusses in the context of price expectations.
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