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Influence of the American economic crisis of 2007 on Czech economy
Gajdošová, Veronika ; Tichá, Milena (advisor) ; Samek, Tomáš (referee)
This diploma thesis focuses on financial crisis from 2007 and its impact on Czech economy. Special attention is given to four macroeconomic indicators in Czech Republic and their transformation during this crisis and after it. First part focuses on definition and description of characteristics and stages of business cycles, first in general and then specifically when talking about 2007's economic crisis. Subsequent practical part analyses specific economic repercussions stemming from the crisis, pointedly in macroeconomic indicators, state budget and mortgage market. In the final part of this thesis, the knowledge and findings about these areas, which accurately depict overall status of Czech economy during the crisis and after it are evaluated and commented on. This thesis may be used by humanities' teachers to illustrate the functioning of business cycles and their impacts on economies. KEYWORDS: Czech economy, business cycle, trade cycle, economic crisis, mortgage crisis, globalization
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The role of bank loans to non-financial corporations in a business cycle
Kavalírek, Jan ; Mandel, Martin (advisor) ; Kovanda, Lukáš (referee)
The theoretical part of the thesis introduces Austrian theory of business cycles and analyses equilibrium of savings and investments together with the transmission mechanism between savings, deposits, loans and investments. The practical part of the thesis explores business cycle and credit cycle. It analyses an excessive loan expansion of commercial banks together with a excessively expansive policy of central bank. The thesis deals with a procyclical action of commercial banks and contemporary tools of central bank with their limited effectiveness. Furthermore, the thesis analyses the possible adjustments of monetary policy with the emphasis on the macroprudential policy and its individual credit indicators. The end of the thesis deals with the method of credit rationing and with the imbalance between demand and supply at the credit market of non-financial corporations, which is modelled using the technique of disequilibrium model.
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European debt crisis according to the Austrian School of Economics
Talian, Peter ; Pavlík, Zdeněk (advisor) ; Melcher, Ota (referee)
Debt crisis is at present a major problem not only in the eurozone or Europe but also in the whole world. This bachelor thesis deals with the origin of the debt crisis, explains current status and specific issues of PIIGS countries within the eurozone. Furthermore, it introduces the Austrian School of Economics, its history, main representatives and thier principles. In its third part this thesis interprets the Trade Cycle and the Credit Expansion Theory according to the Austrian School. The subject of this part of the thesis is to find the connection between the debt crisis and the theory. In the last part the thesis reflects on the possible ways the debt crisis is conducted or debated by the EU and speculates about the future of the eurozone. On the contrary to EU measures, there will be also Austrian debt crisis sollutions given.
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