The aim of the diploma thesis is to analyze the economic cycle in the Czech republic since 2000. Theoretical-methododological part of this thesis is consist of the theories of economic cycle, kinds of economic policy and indicators of external and internal policy, which will be used later in the analysis. In the practical part I focuse on the cause of the crisis, its expansion to the Europe and as well on Germany as the economics which influences the cycle of Czech republic, which is the fact I prove statisticaly in my thesis. The analysis of indicators of czech economics is carried out trend indicators included. The conclusion and the aim which have been fulfilled is identification and evaluation of business policy of Czech republic and the suggestion of next steps leading to the improvement of the state of the economics.

This thesis tries to describe government help to economy during the period of crisis in years 2006 -- 2013 in USA and Iceland with regard to Austrian business cycle theory. This thesis stands critical toward connection of fiscal and monetary policy and their activist policy because this policy was one of the causes of economical fluctuation in last years. Help of fiscal policy connected with monetary policy took primarily form of providing liquidity to financial sector and granting government guarantees to financial institutions and bailing out their risky assets. Regulatory measures are subjected to closer analysis and are commented according to data analysis.

Orientador: Antonio Carlos Macedo e Silva / Tese (doutorado) - Universidade Estadual de Campinas, Instituto de Economia / Made available in DSpace on 2018-08-18T13:23:49Z (GMT). No. of bitstreams: 1 Carvalho_MarceloSoaresde_D.pdf: 2436002 bytes, checksum: 17f432ef0c2d7cbff7f9aa69e08a4cbf (MD5) Previous issue date: 2011 / Resumo: O objetivo central deste estudo é a avaliação crítica da proposta pós-keynesiana de erradicação do desemprego conhecida como o empregador de última instância (employer of last resort, ELR). De acordo com esta proposta, o Estado deveria agir como empregador residual, contratando todos aqueles dispostos a trabalhar em troca de um salário básico do setor público (basic public sector wage, BPSW); ao fazê-lo, seria colocado em operação um mecanismo de estoque regulador de emprego, gerando desemprego zero e maior estabilidade de preços e salários. As raízes teóricas desta proposta - ao menos em seu formato mais recente - podem ser encontradas nos conceitos econômicos de moeda guiada por impostos e finança funcional. Longe de ser consensual mesmo dentre os próprios pós-keynesianos, a proposta do ELR tem estimulado muita discussão no meio acadêmico a respeito de seus méritos e limites. A avaliação da proposta acima referida ganha particular interesse no tocante à sua efetiva aplicabilidade no contexto das economias subdesenvolvidas, o que constitui exatamente a parte conclusiva deste estudo. De modo a obter um melhor entendimento acerca das razões pelas quais há falta de consenso em relação ao ELR entre os pós-keynesianos, é apresentado, no primeiro capítulo, um breve panorama da abordagem de Keynes quanto ao mercado de trabalho; na seqüência, uma também sucinta apresentação das contribuições de Keynes, Kalecki e Lerner com respeito às políticas de pleno emprego - nas quais muitas das visões e dos motivos para o atual dissenso dos pós-keynesianos podem encontrar suas origens. Um terceiro capítulo procura retratar as propostas do ELR segundo as visões de Minsky e dos cartalistas, bem como o debate teórico a que deram origem. O capítulo final procura sintetizar os conteúdos (e polêmica) anteriores, de modo a condensar uma proposta viável de geração do pleno emprego, com destaque para as economias subdesenvolvidas / Abstract: The main purpose of the following study is to critically evaluate a Post Keynesian proposal for unemployment eradication known as the employer of last resort (ELR). According to that proposal, State should act as a residual employer and hire all willing to work for a basic public sector wage (BPSW); in doing so, an employment buffer stock mechanism would be put in place generating zero unemployment and greater price-wage stability. The theoretical roots to that proposal - at least within its most recent design - may be found in the economic concepts of tax-driven money and functional finance. Far from being consensual even amongst the Post Keynesians themselves, the ELR proposal has instigated much academic discussion about its merits and shortcomings. The above mentioned proposal evaluation becomes of particular interest when it comes to its actual applicability in the context of underdeveloped economies, which comes to constitute the concluding part of this study. In order to accomplish a better understanding of the reasons why a lack of consensus about the ELR is found within the Post Keynesian school of thought, a brief view of Keynes's approach to the labor market is presented in the first chapter; following, an also succinct presentation of the theoretical contributions of Keynes, Kalecki and Lerner about policies for full employment - where much of the current Post Keynesian views and dissent may find its origins. A third chapter attempts to present the ELR proposals according to the views of Minsky and the chartalists as well as the theoretical debate that resulted. The final chapter seeks to synthesize the contents (and polemics) above in order to build up a feasible proposal to generate full employment, especially in the underdeveloped economies / Doutorado / Teoria Economica / Doutor em Ciências Econômicas

The diploma thesis deals with the issue of fiscal and budget councils. The aim of the work is the analysis of the Czech Fiscal Council, which was established in 2018 and is a new element in the Czech system of fiscal and budgetary policy. Firstly, basic concepts such as public finance, fiscal and budgetary policy are defined. Subsequently, the sources of inefficiency are introduced, which affect the emergence of fiscal imbalances, and thus public debt. The basic idea for the establishment of fiscal and budget councils is the concept of Fiscal Governance, which can be divided into rules excepting to the councils. Numerical rules are currently a frequently used tool for assessing fiscal discipline. These rules are complemented by councils, which act as independent institutions. Due to the recent emergence, the practical part of the work analyses the Czech Fiscal Council regarding the foreign experience of independent fiscal and budget councils. Based on the results, it can be stated, that the Czech Fiscal Council does not deviate from the existing experience, on the contrary, it fits appropriately into this portfolio.

This paper investigates how the introduce of single currency influence on the synchronization of business cycles in Central Eastern European Countries. The Hodrick-Prescott filter is applied to extract the cyclical component of real GDP for fifteen European countries and the Vector Autoregression models are applied to further investigate the influence of fiscal policy on regional economies. A database of quarterly real GDP for business cycles and quarterly current account for fiscal variables for the period: 1995Q1-2019Q4 is constructed. The main results of the study can be summarized as follows. The establishment of Economy Monetary Union has significantly increased the level of co-movement across euro area member states. There is a high degree of synchronization of business cycles in core countries than periphery countries after the introduce of common currency. For CEEC-7 including non-Eurozone countries (Czech Republic, Hungary, Poland) and Eurozone countries (Estonia, Germany, Slovakia, Slovenia), clusters in correlation exist because their GDP reacts differently to the fiscal shocks especially after the global financial crisis and ongoing euro area crisis. Key words business cycle synchronization; Economic integration; Fiscal policy; VAR

Like many fossil fuel dependant countries, South Africa faces the dual problem of responding to an increasing demand for coal production to satisfy rising energy requirements, while at the same time responding to the call to reduce greenhouse gas emissions. The exploration of renewable energy sources as an alternative to fossil fuels has therefore become an increasingly pressing concern in South Africa. South Africa has significant renewable energy potential which can simultaneously address both energy needs and the environmental concerns arising from greenhouse gas emissions. A tax incentive regime is a popular governmental policy instrument that has the potential to advance technologies and stimulate markets by encouraging research and development as well as the implementation of renewable energy technologies. It is therefore important to determine how the tax incentives currently available in South Africa for research and development and the implementation of renewable energy technologies, compare with those adopted internationally. China was identified as a country that offers generous fiscal incentives to encourage research and development and the implementation of technology such as renewable energy technologies. The objective of this study was to determine how the income tax incentives for research and development and the implementation of renewable energy technologies currently available in South Africa compare with the income tax incentives available in China for the same purpose. This was achieved by means of a head-to-head comparison of the impact that the two tax regimes would have in a hypothetical case study / Dissertation (MCom)--University of Pretoria, 2013. / am2014 / Taxation / Unrestricted

The year 2020 has so far stood completely under the influence of Corona. The virus was first detected in China in late 2019, and spread all over the globe over the coming months. Nearly everyone was, and is, affected. People were afraid of getting infected and limited all sort of social interaction. Many countries implemented shutdowns with the goal of reducing the spread of the virus and saving lives. While the virus has spread, the world have experienced the severe recession in a long time. Beyond economics, Corona is present in every aspect of our daily life. On the one hand, there has been a tremendous number of touching examples of care for people at risk, and support for the parts of the population who are most affected by the consequences of the epidemic. On the other hand, some people deny the severity of the virus, question the need for social distancing and protest against public health measures. This work aims to summarise the economic literature as of June 2020 on the trade-off between saving lives and livelihoods. The authors wrote it during a Bachelor Seminar, while the whole world learned simultaneously about COVID-19.

The current Greek debt crisis has forced the Greek government to adopt austerity measures. In this paper, the most favourable debt reduction strategies among all the other strategies, for both Greece and its creditors will be examined. These strategies have been recently suggested in the economic world, to help achieve deficit reduction and enhance the growth rate of Greece. This is very important for the economic world - to avoid the insolvency of Greece and to find the best debt reduction strategy which is favourable for both the parties, so that the Greek public debt-to-GDP ratio can reach a level of sustainability within a reasonable timespan. In an endeavour to answer the research question, a simulation framework has been carried out based on the economic model as given by Cline, (2011). When using this economic model, g has been made endogenous and it is dependent on the extent of austerity. This has been taken into consideration while carrying out the simulation exercises for this paper. Furthermore, three different debt reduction strategies (the lowering of interest rates, debt write-off and increasing the primary surplus) have been implemented, considering the different scenarios of the economy, when executing these simulation exercises. After carrying out the simulation framework, it has been concluded that the further reduction of the interest rate would be the most favorable debt reduction strategy for both Greece and its creditors. This interest rate strategy would not only lower the Greek public debt-to-GDP to a sustainable level within a reasonable time period, but will also keep the growth rate positive in the long run during this period of weak economic recovery.

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