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DEVELOPMENT FINANCING OPTIONS IN HOUSING
Kamencová, Aneta ; Adlofová, Petra (referee) ; Dohnal, Radek (advisor)
The main aim of my thesis is an analysis of the overall development of financing options for private housing, especially in the Czech Republic. The issue of housing solves most of us, at least once in their life. Investment in housing greatly exceeds our income, so it is necessary to the selection of type of housing, correctly decided on its method of financing itself. The statistics which are in the Czech Republic's disposal indicates that the total expenditures of Czech households, housing costs are up to 1/4. Compare the different products occurring in the Czech market, which are intended to finance housing (building savings, mortgage loans, ...). It depends on the consideration of each of us, whether we use a different funding source, such as your own saved money or loans from friends or family members.
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Over-indebtedness in the Czech Republic: Problem Analysis and Policy Alternatives
Řezáčová, Lucie ; Veselý, Arnošt (advisor) ; Čabanová, Bohumila (referee)
The thesis "Over-Indebtedness in the Czech Republic: Problem Analysis and Policy Alternatives" deals with the issue of over-indebtedness of households with regards to consumer loans, specifically in the Czech Republic. Over-indebtedness is currently a very real and serious issue. The author attempts to tackle what is a relatively complex issue. The objective of the thesis is to demonstrate that over-indebtedness is a significant problem and analyse the myriad factors that contribute to it. Finally, possible solutions to the problem are explored. The author exhibits a variety of data to measure over-indebtedness in addition to determining the various causes, namely individual economic factors, such as sudden unemployment, and financial imprudence, which can be attributed to individual psychology or low financial literacy. Additionally, the unfair and even loan-sharking practices adopted by some loan providers and brokers along with the problematic process of debt enforcement, which contribute to over-indebtedness are described in detail. Based on the identified drivers, the thesis proposes specific tools to address the problem, with particular emphasis on regulating providers, and analyses their advantages and disadvantages. Further to the regulatory instruments, the thesis also stresses the need to...
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Topics in central banking
Brož, Václav ; Kočenda, Evžen (advisor) ; Tůma, Zdeněk (referee) ; Égert, Balázs (referee) ; Martin, Reiner (referee)
This dissertation consists of three research papers dealing with selected issues relevant for central banks after the global financial crisis. The post-crisis world has seen a significant strengthening of the role of central banks with regard to the financial system as well as the real economy. Correspondingly, agendas of some central bankers have grown substantially, encompassing among others monetary policy, financial stability (macro- and microprudential policies) as well as resolution mechanisms. This dissertation thesis reflects the broad focus of some contemporary central banks in three original research articles that concern current unexplored issues for monetary policy and financial stability in the European Union, the Czech Republic, and the United States, potentially bringing policy implications for the relevant authorities. The first article analyzes inflation convergence in the whole European Union (EU) over 1999-2017 and provides comprehensive and robust evidence that the process of inflation convergence among the countries of the EU was not permanently disrupted during the global financial crisis, the European sovereign debt crisis, or the period of zero lower bound interest rates. Specifically, the convergence process did not noticeably weaken after the crisis and the occurrence of...
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Refinancing of mortgage and consumer loans
Gajdošová, Nicol ; Radová, Jarmila (advisor) ; Mazáček, David (referee)
The importance of consumer and mortgage loans is increasing every day. If we were not born under the lucky star, the only way how to get property ownership or other financially expensive things is to take a mortgage and a consumer loan. Times when young people were entitled to get apartments from the city, the village or the employer have gone. Loans are generally in the interest of economists, lenders and the general public, who can use them to buy a house, flat, car, etc. Especially today, when interest rates reach the historical bottom, many people get a loan. In time, however, they find out that costs are not just a repayment of the loan but also other expenses associated with the use of the purchased item. They start wondering how they could reduce the installment after the end of the interest rate and thus save some money a month. Here comes a very popular product like credit refinancing in another bank. Banks attract potential clients for very good annual savings, you just need to transfer the entire loan to them. My work includes the factors influencing mortgage and consumer credit, which is also related to refinancing. I deal with real model examples through the precise approach of three selected bank institutions in refinancing mortgage and consumer credit. The thesis describes in detail the procedure of institutions, interest rates and their conditions for transferring credit.
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The indebtedness of Czech households in 2000-2015 and its macroeconomic context
Sovička, Lukáš ; Ševčík, Miroslav (advisor) ; Pekárek, Štěpán (referee)
The thesis is focused on the analysis of the macroeconomic relationships of the growth of indebtedness of Czech households in 2000 - 2015. The aim of the diploma thesis is to find the main causes of household indebtedness growth and to identify the influence of this process on selected macroeconomic variables. The theoretical part of the diploma thesis deals with money creation, monetary and fiscal policy, the role of money in economic cycles and economic theories of household consumption. The practical part focuses more closely on debt development, its structure and sociodemographic structure of indebted households. The thesis describes the causes of household indebtedness growth, impacts on selected macroeconomic variables, ability of households to meet their financial obligations and, last but not least, international comparisons with selected EU countries. The diploma thesis brings a comprehensive view of the debt of Czech households in the period 2000 - 2015. At the end of the thesis, it explains the main causes and consequences of the growing indebtedness of households, together with the international comparison and the sociodemographic characteristic of indebted households.
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Over-indebtedness in the Czech Republic: Problem Analysis and Policy Alternatives
Řezáčová, Lucie ; Veselý, Arnošt (advisor) ; Čabanová, Bohumila (referee)
The thesis "Over-Indebtedness in the Czech Republic: Problem Analysis and Policy Alternatives" deals with the issue of over-indebtedness of households with regards to consumer loans, specifically in the Czech Republic. Over-indebtedness is currently a very real and serious issue. The author attempts to tackle what is a relatively complex issue. The objective of the thesis is to demonstrate that over-indebtedness is a significant problem and analyse the myriad factors that contribute to it. Finally, possible solutions to the problem are explored. The author exhibits a variety of data to measure over-indebtedness in addition to determining the various causes, namely individual economic factors, such as sudden unemployment, and financial imprudence, which can be attributed to individual psychology or low financial literacy. Additionally, the unfair and even loan-sharking practices adopted by some loan providers and brokers along with the problematic process of debt enforcement, which contribute to over-indebtedness are described in detail. Based on the identified drivers, the thesis proposes specific tools to address the problem, with particular emphasis on regulating providers, and analyses their advantages and disadvantages. Further to the regulatory instruments, the thesis also stresses the need to...
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Financial education as a prevention against over-indebtedness of Czech households
Vltavská, Silvie ; Kotrusová, Miriam (advisor) ; Mouralová, Magdalena (referee)
The diploma work 'Financial education as prevention against over-indebtedness of Czech households' deals with the issue of constantly rising over-indebtedness. In the Czech Republic the number of people who find themselves in financial shortcoming due to over- indebtedness has recently raised. When we compare the Czech Republic with the advanced countries in the European Union, we find out the over-indebtedness is not so high. What is, however, alarming is its dynamics in the recent years. These figures are confirmed with statistic data. The phenomenon of consumer loans started to develop in the late 1990's when the first negative consequences, i.e. social and psychological impact, and distraints, which had not been known so far, appeared for the first time. Mortgages are seen as relatively healthy form of debt because their reimbursement is not as problematic as it is with the consumer loans. Investment into living is considered as long-lasting. There are several possibilities how to cope with debts. One possibility and prevention is financial education the application of which is in the centre of this work, i.e. financial education as the tool for orientation in market environment, part of social work and especially as the prevention itself. The essential part is educational activities and...
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Development analysis of consumer loans in the Czech Republic and Slovakia
Ličko, Oliver ; Radová, Jarmila (advisor) ; Rajl, Jiří (referee)
The diploma thesis Development analysis of consumer loans in the Czech Republic and Slovakia describes the development and the structure of household debts in the Czech and Slovak Republic with major focus on the consumer loans development in both countries. Theoretical part is dedicated to the determination of different loan products for households, and the description of legislation related to consumer loans in both countries. The analysis of each market observes household debts and the development of consumer loans. The development is compared with elementary bank and macroeconomics measures which mostly influence demand for consumer loans. The final part focuses on the comparison of the results and findings between Czech and Slovak market.
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Quantification of consumer loans development in the Czech republic
Chroustovská, Eva ; Malý, Michal (advisor) ; Michal, Michal (referee)
This thesis describes consumer loans in the Czech Republic in the period from 1993 to 2014. Theoretical part of the thesis begins with a description of most known economical theories, that relate to consumer loans and is afterwards supplemented by description of related macroeconomical indicators, accompanied by the description of consumer theory. Practical part defines the economic and econometric models, both of which are used for quantification of the dependence of consumer loans on various macroeconomical indicators in the Czech Republic. The model is subjected to economical, econometrical and statistical verifications, in order to be applied and used for potencial forecast.
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