Deflation, which has recently represented significant source of concern, is by many economists perceived to be an unfavorable phenomenon in the economy. The aim of this paper is to identify the possible link between deflation and economic downturn based on the comprehensive view. The emphasis is put on the analysis of historical episodes of deflation over the past two centuries in order to shed light on causes and impacts of deflation during the periods. The paper does not neglect the comparison of theoretical approaches. The results of the analysis, supported by empirical studies, imply that the relationship between deflation and recession is complex. Although the paper does not confirm the existence of a general link between deflation and recession, it reveals that recession often leads to deflation (especially in a low inflation environment), but deflation does not usually result in recession. In many cases deflation remains to be a symptom of economic problems, not their cause.

The aim of this master thesis is to analyze and look for ways out of present debt crisis which the states of euro zone are in. I am exploring these issues on the two countries, which have accepted the euro as their currency. European Union (or more precisely euro zone) has had problems for almost the whole of decade, which are now threatening its being. The basic causes are mainly the lack of structural assumptions of single European economies. The practical part of the master thesis is dealing with comparison of financial assistance, which was provided to Greece and Ireland from EU and IMF. It is evaluating the effectiveness of such help with regard to current economic situation and outlook. The thesis is comparing both of these countries from their entry to European Community and it is assessing fulfillment of Maastricht criteria. It is exploring economic and political situation of both countries and is dealing with the period after the global financial crisis, which has revealed long-term and unresolved problems if selected states of European Union.

The theme of my thesis is "Investment life insurance in the Czech insurance market". At the beginning of my work I will analyse the developement of investment life insurance, which I mean the very beginning of the insurance industry in our territory to the insurance industry after the establishment of the independent Czech Republic. Attention in this section is paid and number of insurance companies, developement of prescribed premium or the number of insured persons. The second part is devoted to the characteristics of investment life insurance, such as the definition itself, its objective, conceptual apparatus, but also a form of investment strategies, creation of reserves and no less important level of charges. In the third section I compare the investment life insurance with other insurance products, namely capital life insurance and retirement life insurance. Comparison is made on insurance products of Kooperativa, a.s. Advantage of investment life insurance in connection with the past, present and the views and plans for the future are dealt with in another part of my work, with also mention the current crisis and factors affecting the investment life insurance market. In the fifth part I focus on pension reform and the potential impact on the investment life insurance. The conclusion is devoted to a specific models predetermined assumptions for different age groups.

The aim of this thesis is to compare the causes, course and effects of the mortgage crisis and the subsequent financial crisis in the USA and in the Czech Republic in the years 2000-2012. Conclusions comparisons show that the impact of the crisis on the economy of the Czech Republic were milder mainly due to readiness of Czech banks. Furthermore, this work analyzes a model example of choice of parameters mortgage loan from the client's perspective, focusing on the assessment of the advantages of combination mortgages and savings products. Based on the results of this analysis, the combination can be recommended, but with regard to the rates of appreciation achieved when saving resources. If the condition of compensation refinancing costs by the difference in interest rates is satisfied, it is also possible recommended this financial instrument to a qualified client. Finally, we completed the image of the Czech mortgage market by comparing the classical mortgage products in offer of several banks.

The aim of my thesis is in the first place to show the origin of American mortgage crisis, the impact of (from that implying) financial crisis on affected countries in Europe. In the second place, the aim is to analyze two selected companies that have managed to get over the financial crisis in different way in order to find out (mainly based on financial statements) the reason of financial instability, regarding the managerial decisions of the first company, and the reason of further development in case of the second one. In the first chapter of this thesis I am describing the historically well-known financial crisis focusing on 2007 American mortgage crisis and its gradual spread into European countries, including the Czech Republic. The second chapter is dedicated to methodological background of financial analysis which I am using in the practical part. The Practical part itself consists of financial statement analysis of two construction companies in order to show the differences in the financial management. The fourth chapter includes also non-financial ratios as the input variables of the overall analysis.

This thesis focuses on solving financial crisis throught foreign exchange swaps. Facilities, which provided help to Banks around the world called swap lines. These facilities introduced U.S. Federal Reserve (Fed) in late 2007. The swap lines were one of the many liquidity programs that Fed conducted in order to provide liquidity to the global banking system. Using indicator 3M Libor -- OIS spread, which informs about the problems in the interbank markets, is studied the impact of these swap facilities to the global banking system. It was found, that impact of swap lines were positive, but not because of announcement effect. Swap lines had positive impact only after an enormous increase in the volume of U.S. dollars in transactions. In other part of thesis is estimated revenue and expenses for the Fed. Revenues are campared with the data in the annual report. Revenues are estimated as a sum of all the interest payments in all banks, which dollars from the swap lines "spilled" into their jurisdictions. Costs are estimated as a opportunity costs.

The goal of this work is an assessment of the hypothesis whether the fiscal union in euro area can cope with the consequences and causes of the debt crisis. Categorized proposals leading to fiscal union are presented. These proposals are facing problems of moral hazard, perverse incentives, new taxes, inefficient allocation of scarce resources, and general issues of fiscal policy. New steps towards fiscal union will be accepted at the supranational level, some of these steps are more likely than others. The tighter rules, fiscal oversight and regulation the fiscal union will provide, the longer and more successful will be preventing of the crisis in the euro area. Because the euro area cannot be considered an optimal currency area and because the tragedy of the commons problem is observed here, then fiscal union in the long run, along with all the problems of the new proposals will only lead to a deepening of the crisis, or creating a new and much stronger one.

The aim of this thesis is to analyze the impact of the current economic cycle of South Moravian Region in comparison with other regions of the Czech Republic. I describe in the theoretical part the formation and position of the regions within public administration and regional policy and its funding. I analyze in detail the budget classification, the structure and the principle of management regions. The practical part is devoted to the analysis of the state budget and the budgetary designation of taxes. I analyze in detail various components of income and expenditure of South Moravian Region in 2006--2011. In conclusion, based on the budget balance, the regional debt and other economic indicators, I do a comparison of developments and trends in this region with other regions of the Czech Republic.

Doctoral dissertation thesis deals with the issue of monetary integration within Europe. There are three main parts of it: the first one describes historical, political and also economic aspects of gradual monetary union formation, the second one analyses the impact of financial and economic crisis on the symmetry of Euro area development, and the last one deals with present debt crisis (and EU reaction on it). There are also involved possible future developments, when fiscal policy councils gained the most attention.

This thesis examines current problems in eurozone with special focus on international trade. An important part of the research will be the impact of the economic crisis which came to Europe in 2008. First chapter describes the development of eurozone's exports and imports between years 2001 and 2011. It analyses changes and trends in the commodity and territorial structure of eurozone's foreign trade. Some important issues which are linked to these topics are discussed in the first chapter as well, including current bargaining for bilateral free trade agreements. Second chapter deals with macroeconomic imbalances between the northern and the southern part of eurozone. It tries to identify reasons which caused this problem and assesses the role of euro in it. Finally, it offers some possible ways to adjustment between the both country groups. Third chapter concerns with the competitiveness of eurozone's members and measures how it has changed since the beginning of the crisis. In the second part of this chapter, selected weaknesses of the Italian competitiveness are stated together with a comparison with Germany. Final summary recapitulates previous chapters and presents the most important findings.