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Perceived vs. observed inflation. Perceived inflation in connection with the euro adoption
Klubíčková, Kateřina ; Schwarz, Jiří (advisor) ; Martišková, Monika (referee)
This thesis deals with the difference between observed and perceived inflation. It builds on literature which focuses on perceived inflation and its difference from observed inflation. The thesis broadens existing literature with detailed analysis of factors affecting the difference between observed and perceived inflation (inflation gap) and its size. There are numerous theoretical explanations for the gap increase which followed the euro-changeover. This thesis summarizes these reasons and analyzes what and to what extent affects the size of the inflation gap using data about awareness about the euro among public, macroeconomic (GDP, rate of inflation, rate of unemployment etc.) and social variables (sex, age). Result of the analysis is that the size of the gap is affected particularly by the euro introduction. Extent of this impact differs for men and women, but is very similar across age groups. The impact of HICP and its components in various sectors was in most models larger in periods when countries were using euro as their national currency. Hypothesis stating that the higher is the awareness about the euro among public, the smaller is the inflation gap was confirmed in models considering later waves of the euro introduction.
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Aspects of the Introduction of the Euro in the Financial Law
Bugan, Bystrík ; Karfíková, Marie (advisor) ; Kohajda, Michael (referee)
This rigorosum thesis focuses on the influence of the introduction of the euro on the Czech legal system, especially with respect to financial law issues. It describes the basic legal provisions regulating the euro on the European level (regulations, directives, and statements) and the national level together with the latest decision making practice of the European Court of Justice and Supreme Court of the Czech Republic and Prague High Court in this respect. European regulations have a direct affect on the Czech Republic. However, the Czech Republic has an exemption according to clause 139 of the Treaty on the Functioning of the European Union as a member state which has not introduced euro yet, therefore some legal provisions are not applicable. The Czech Republic has some past experience with introducing a new monetary unit, as after the split-up of former Czechoslovakia in 1992 the Czech crown was introduced as Czech legal tender. The main part of the theses examines in detail the Czech financial law legal regulations that have to be changed because of the introduction of the euro. There are approximately 310 Czech acts that have to be amended accordingly. The main reasons for the amendments are the following: (i) the legal acts contain amounts in Czech crowns, which could be not automatically...
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The Impact of Euro Adoption on Competitiveness: The Comparison of Czech Republic and Slovakia
Polyák, Oliver ; Dědek, Oldřich (advisor) ; Martišková, Monika (referee)
Bibliographic citation POLYÁK, Oliver (2013). The impact of Euro Adoption on Competitiveness: The comparison of Czech Republic and Slovakia. Prague, 2013. 74 p. Rigorous thesis (PhDr.) Charles University in Prague, Faculty of Social Sciences, Institute of Economic Studies. Rigorous thesis supervisor prof. Ing. Oldřich Dědek, CSc. Abstract The present rigorous thesis is focused on the impact of introducing the common European currency on competitiveness of a country. There has been a lot written about the possible effects of euro adoption on economies of the first eurozone participants. The contribution of this thesis is that we explore the impact of euro introduction on competitiveness of Slovakia, in comparison to the Czech Republic which still uses its own national currency. Our findings suggest that most of the analyzed competitiveness indicators evolved largely in parallel in both countries. Positive trade effects brought about by the introduction of the euro are rather moderate - up to 5%. Slovak credit development was more favorable during the crisis, reflecting lower interest rates in eurozone. On the other hand, high contributions to European stabilization funds may hamper Slovak economic growth and negatively influence country's competitiveness in future. Keywords competitiveness, euro adoption,...
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The Impact of Euro Adoption on Competitiveness: The Comparison of Czech Republic and Slovakia
Polyák, Oliver ; Dědek, Oldřich (advisor) ; Martišková, Monika (referee)
Bibliographic citation POLYÁK, Oliver (2012). The impact of Euro Adoption on Competitiveness: The comparison of Czech Republic and Slovakia. Prague, 2012. 71 p. Master thesis (Mgr.) Charles University in Prague, Faculty of Social Sciences, Institute of Economic Studies. Master thesis supervisor prof. Ing. Oldřich Dědek, CSc. Abstract The present master's thesis is focused on the impact of introducing the common European currency on competitiveness of a country. There has been a lot written about the possible effects of euro adoption on economies of the first eurozone participants. The contribution of this thesis is that we explore the impact of euro introduction on competitiveness of Slovakia, in comparison to the Czech Republic which still uses its own national currency. Our findings suggest that most of the analyzed competitiveness indicators evolved largely in parallel in both countries. Positive trade effects brought about by the introduction of the euro are rather moderate - up to 5%. Slovak credit development was more favorable during the crisis, reflecting lower interest rates in eurozone. On the other hand, high contributions to European stabilization funds may hamper Slovak economic growth and negatively influence country's competitiveness in future. JEL Classification F14, F15 Keywords...
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The Relation Between the Euro Cash Changeover and the Perceived Inflation in the Baltic Countries
Orosz, Előd ; Dědek, Oldřich (advisor) ; Turnovec, František (referee)
The relation between the euro cash changeover and the perceived inflation in the Baltic countries Abstract This thesis focuses on the effect of euro cash changeover on inflation perception, and its relation to the inflation measured by central banks or by national statistical offices. We present an analyses of inflation gap in Estonia, Latvia and Lithuania at the euro introduction and detect its determinants by econometric methods. We use Ordinary Least Squares, Random Effects Generalized Least Squares and Fixed Effects estimator. The thesis is divided into two main parts. The first part examines the theoretical background of perceived inflation and focuses at the phenomenon of increased inflation gap at the euro introduction. Second part contains an empirical study on inflation gap. We find out that perceived inflation in Baltic countries does not show such a divergence, as it was presented at the establishment of the Eurozone. Moreover, we find out that education and available income in general has a small, but evincible effect on inflation gap observed at euro introduction.
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Euro adoption in Serbia
Papić, Danijela
Serbia has the highest Euroisation index in South-Eastern Europe. Euro is heavily used in the domestic economy, because people lost trust in national currency. This bachelor thesis deals with monetary integration in Europe, conditions needed for accession to the Eurozone, as well benefits and costs of Euro area membership. On the base of the analysis with regards nominal and real convergence, the thesis tries to answer the question whether Serbia should consider Euro adoption as a solution for reaching long-term economic stability. After evaluation of monetary strategy, the recommendations are proposed.
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Dopady zavedenia eura na slovenský automobilový priemysel: porovnanie s ČR
Koreis, Michal
Goal of this thesis is review the impact of the introduction of the euro on the Slo-vak automotive industry compared with the Czech Republic. The first part descri-bes the importance of the automotive industry to the economy of the Czech and Slovak Republic and determines major car producers in the countries concernerd. Further it determines the appropriate statistical methods to detect the break in the time series of car production of Slovakia and selects the appropriate financial indicators to compare the financial development of Czech and Slovak automotive manufacturers. The second part compares the development of car productions of Slovakia and Czech Republic in two periods: from 2002 to 2008 and 2009 to 2015. Then it compares the development of selected financial indicators of the largest automobile producers in the Czech Republic and Slovakia in two periods: 2005 to 2008 and 2009 to 2014.
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The Impact of Euro Adoption on Competitiveness: The Comparison of Czech Republic and Slovakia
Polyák, Oliver ; Dědek, Oldřich (advisor) ; Martišková, Monika (referee)
Bibliographic citation POLYÁK, Oliver (2013). The impact of Euro Adoption on Competitiveness: The comparison of Czech Republic and Slovakia. Prague, 2013. 74 p. Rigorous thesis (PhDr.) Charles University in Prague, Faculty of Social Sciences, Institute of Economic Studies. Rigorous thesis supervisor prof. Ing. Oldřich Dědek, CSc. Abstract The present rigorous thesis is focused on the impact of introducing the common European currency on competitiveness of a country. There has been a lot written about the possible effects of euro adoption on economies of the first eurozone participants. The contribution of this thesis is that we explore the impact of euro introduction on competitiveness of Slovakia, in comparison to the Czech Republic which still uses its own national currency. Our findings suggest that most of the analyzed competitiveness indicators evolved largely in parallel in both countries. Positive trade effects brought about by the introduction of the euro are rather moderate - up to 5%. Slovak credit development was more favorable during the crisis, reflecting lower interest rates in eurozone. On the other hand, high contributions to European stabilization funds may hamper Slovak economic growth and negatively influence country's competitiveness in future. Keywords competitiveness, euro adoption,...
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The introduction of the common European currency in the Slovak Republic - the governmental communication campaign
Vopěnková, Pavlína ; Vykoukal, Jiří (advisor) ; Irmanová, Eva (referee)
The Bachelor thesis deals with the communication campaign in the Slovak Republic with regard to the introduction of euro on January 1, 2009. Slovakia government was headed by Prime Minister Robert Fico, the Chairman of the political party SMER-SD, at that time. The governmental communication campaign was led by PR agency and had started at the beginning of 2008. The main attention is paid to the most intense part of the campaign in the second half of the year. The target group of the campaign was the general public, with special focus on vulnerable target groups. The work deals with the individual components of the national communication campaign and describes their progress. From the beginning the campaign has been confronted by critical voices from the opposition and the media. They often pointed to government misconduct and lack of knowledge among the Slovak population. The aim of the work is to assess the effectiveness of information campaign by the result of regular polls Slovak Statistical Office - whether the governmental communication strategy has been chosen appropriately and whether inhabitants of Slovakia were sufficiently informed about the upcoming introduction of euro.
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The Impact of Euro Adoption on Competitiveness: The Comparison of Czech Republic and Slovakia
Polyák, Oliver ; Dědek, Oldřich (advisor) ; Martišková, Monika (referee)
Bibliographic citation POLYÁK, Oliver (2012). The impact of Euro Adoption on Competitiveness: The comparison of Czech Republic and Slovakia. Prague, 2012. 71 p. Master thesis (Mgr.) Charles University in Prague, Faculty of Social Sciences, Institute of Economic Studies. Master thesis supervisor prof. Ing. Oldřich Dědek, CSc. Abstract The present master's thesis is focused on the impact of introducing the common European currency on competitiveness of a country. There has been a lot written about the possible effects of euro adoption on economies of the first eurozone participants. The contribution of this thesis is that we explore the impact of euro introduction on competitiveness of Slovakia, in comparison to the Czech Republic which still uses its own national currency. Our findings suggest that most of the analyzed competitiveness indicators evolved largely in parallel in both countries. Positive trade effects brought about by the introduction of the euro are rather moderate - up to 5%. Slovak credit development was more favorable during the crisis, reflecting lower interest rates in eurozone. On the other hand, high contributions to European stabilization funds may hamper Slovak economic growth and negatively influence country's competitiveness in future. JEL Classification F14, F15 Keywords...
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