The thesis examines quantitative development of foreign trade with ICT goods in the Czech Republic since establishment of the republic in 1993. For this purpose, original data generated from the external trade database gathered by the Czech Statistical Office are used. The main goal of the thesis is to perform thorough de-scription of development of foreign trade with ICT goods in the Czech Republic. Among others, the analysis includes trend and seasonality description, evaluation of impact of the economic crisis in 2008, forecasting of development for 2015, 2016 and 2017, and basic international comparison with several members of the European Union.

Diploma thesis refers about effect of informational cascade, which is causing herding behaviour, in sector indices. Thesis distinguishes between market and sector informational cascade. Each of them is represented as an indicator made from dataset provided by Google trends service. Effect is demonstrated on extended version of CAPM theoretical concept to multi factorial model including the indicators, which is based on APT theoretical concept. For the purpose of robust analyses is then realized Granger causality on regression results.

The purpose of the thesis is to assess the impact of monetary policy upon economic performance in the euro area and The United States. The research focuses on differences in responsiveness of real output of economies on money supply and real interest Rate. The responsiveness is examined using Granger causality. The thesis proves whether money supply and real interest rate granger causes real output in the United States and euro area. Also monetary policy itself is described and compared using structural breaks in time series, Taylor rule, Galí rule and Mankiw rule. The empirical results are compared to each other and indicate that there has been differences in performing monetary policy in the United States and euro area; nevertheless responsiveness on monetary policy is in both economies very similar.

This work analyzes an interrelationship between stock indices S&P 500, FTSE 100, DAX, HSI, Nikkei, BSI and PX in a time period from September 2004 till March 2010. Such an interrelationship has already been examined and a dominating position of American indices has been found. This influence was stronger during a financial crisis. Because the examined time period covers both financial crisis and the period before, the work studies their interrelationship in the whole period and at the end in the time period before financial crisis. The influence of one stock index on the other can be cause by several factors: (i) dominance of influencing stock index, (ii) efficient market and (iii) financial crisis. As the reaction of stock index is evoked from new information, the intention of this work is to take into account nonsychronous trading of stocks exchanges. Therefore I explored those exchange stocks closing earlier than the others start in two ways by respecting the time lag and by non-respecting the time lag. The interrelationship between the indices was modeled with help of VAR models and proved by Granger causality test.

The aim of this study was to investigate the influence of free information on the Internet on decreasing sales of printed newspapers. I tested the main hypothesis that the increase in Internet daily visits in the previous period has an impact on the sales of the printed journal in the following period . Another researched phenomenon was the influence of previous rising visitors of web news on subsequent revenue from advertising in print version. These effects I researched on -month and quarterly data in panel of eight czech dailies for the period from 2006 to 2012. The result is that we could not confirm the effect of Granger causality between web pages and his dailies itself nor on a monthly or quarterly basis. When it comes to examining the impact of Internet visits to newspapers revenue from advertising, on the contrary, here we confirmed Granger causality on quarterly data from past revenues from advertising to the current Internet visits . This means that the Internet visits will decrease when there is increased advertising income of newspapers in the previous quarter, which is , however, difficult to interpret in economic terms . The main benefit of this work is that the effect of preceding of webiste visits and newspaper circulations was not confirmed.

In the recent years, there has been growing talk of investing in commodities in the financial markets. In the past, the commodity markets served for purposes of the producers and the end-users of commodities. With gradual innovation of the financial markets in the 19th and 20th century the modern commodity markets evolved and became more standardized. This process was accompanied by the increasing interest of financial speculators. In contrast with the commercial participants, the goal of these new investors in the commodity markets is not to hedge against adverse changes in commodity prices but to profit on the price movements of commodities. The inflow of this group was intensified by the development of new financial instruments enabling these investors to enter the commodity markets. It is undisputable that speculators have positive effect on the markets, by providing liquidity and lowering transaction costs. What remains to be answered is the real effect which the speculators have on the commodity prices, and if their action does not create distortion in the commodity prices. The price development on the commodity markets during the recent financial crisis gives strong arguments in the hands of those accusing the speculators of the negative impact on the commodity prices, which sometimes lead to creation of price bubbles. The goal of this thesis will be the analysis of the effect of speculators on the commodity markets, and if this prejudice is justified.

Šustrová, R. Fiscal decentralization and economic growth in the European Union countries. Diploma thesis. Brno: Mendel University, 2017. This thesis analyses relationship between fiscal decentralization and economic growth in the European Union countries. The empirical investigation is based on panel data regression analysis. The regression models include 27 member states from 1997 to 2015. The investigation of relationship between economic growth and public budget balance is also one of the research question of this thesis. This relationship is check through Granger Causality testing. Obtained results are compared with results of earlier studies.

The diploma thesis investigates the effect of oil price fluctuations on selected macroeconomic indicators for a set of four oil-producing countries. It provides a general overview of the development in oil prices as well as the oil production and presents a more thorough analysis of the oil production, consumption and trade in the selected countries. It utilizes the methods of Vector Autoregression, Granger causality and Impulse response via the econometric software Gretl in the analysis of the effects and compares the current literature with quantitative results.

The aim of the thesis is to reveal the relationship between stock indices and GDP of selected countries. The theoretical part explains the concepts of financial mar-kets, the essence of a functioning of public limited companies and earlier studies dealing with this theme are also included. The practical part is focused on an ac-tual relationship between the variables, both in terms of its existence, its strength and direction. To reveal the relationship between variables and its strength, the correlation analysis is used. Then In case of direction of this relationship a multivariate time series analysis is used in a form of the VAR model using Granger causality.

This thesis is focused on the credit derivatives market. The aim is to identify and quantify the causal dependence of the development of credit derivatives market in relation to the dynamics of macroeconomic indicators and on this basis the possible prediction. At first, it shows with the help of literature review of their present and history and gives a better look to the different types of credit derivatives. The following section deals with the use of these underlying instruments in practice, their possible trading, insurance, or speculation, whether on the OTC markets or organized exchanges. The following describes the events in the capital and commercial markets during the financial crisis that is between the years 2005-2010, from which are taken the data for the empirical part. The empirical part is based on correlation analysis (multiple regression model) of a few selected and described macroeconomic indicators enriched with Granger causality test. In the conclusion may be find the discussion of the results and possible recommendations for potential investors.