This paper presents VAR results on the recent economic history of the U.S and focuses on the dependence of U.S. macrofinancial variables on international capital flows. Both gross and net flows are included in the analysis. The results indicate that cross-border funding has affected the build-up in the U.S. housing market irrespective of how these flows are defined and measured. Both the savings glut hypothesis and the banking glut hypothesis are supported by these findings. However, net banking flows appear to explain the higher volatility in the increase in house prices as well as the mortgage loan boom. (authors' abstract) / Series: Department of Economics Working Paper Series

M.Com. (Business Management) / Payment instruments are commodities which are very common in our everyday life. The research sets out to determine which payment instrument is the payment instrument of choice by consumers at point of sale when paying for goods at a retail store in Gauteng, Pretoria. The conceptual model makes use of attributes associated with payment instruments to determine which payment instrument is more preferable by consumers at pay point. Empirical results shows a strong support for card as payment instrument of choice whilst secondary scanner data offers rich raw data with results showing strong support for cash as payment instrument.

Focus of this thesis is to compare legislation of electronic signature in the Czech Republic and in the USA. In first chapter are explained basic terms, such as cryptography, certificate or certification authority. Next two chapters deal with laws concerning electronic communication. In chapter about Czech legislation they are electronic signature law and electronic transactions and authorized document conversion law. Moreover, Czech Republic has to abide EU directive. Chapter about USA legislation consists of ESIGN act and UETA. Following chapter is dedicated to problems caused by imperfect legislation. Last chapter contains evaluation of described legislation.

The aim of this work is to identify the most common communication errors in terms of transactional analysis taken from selected levels of management of medical facility, which undermine the social interaction at work, and analyse their causes and impact on the behaviour and experience of parties involved. Part of the work is a set of recommendations for the prevention and elimination of these barriers. For these goals to be met, I have developed questionnaires, particularly for top management, and especially for middle management, where the respondents assess themselves on how often they face barriers in the workplace and the impact of these barriers on their behaviour and experience. Their responses are processed in charts by allocation criteria. Communication theories and the barriers related to the identified data give an idea of how the top management of this medical facility (and possibly at other medical facilities of similar size and structure) should communicate with senior consultants with care. The contribution of this work should be to improve communication and achieve not only greater satisfaction for all employees, but also increase productivity during business hours. For this to transpire, it is first necessary to increase communication, especially the knowledge of effective communication, then accept their mistakes and make a constant effort to eliminate them. Some important basic concepts in communication, transactional, barriers of communication and removing communication barriers are clarified in the theoretical part. The practical part is focused on the environment of unnamed hospital. The most commonly met crossed transactions in the workplace and their impact on the behaviour and experience are shown and described there.

La dématérialisation des échanges commerciaux nécessite des règles fiscales claires afin de sauvegarder la souveraineté fiscale de l’État et préserver la sécurité juridique indispensable pour le bon déroulement de la vie des affaires dans le cadre de l’accroissement du commerce électronique. Il s’agit de mettre en exergue le droit fiscal interne et les règles fiscales internationalement acceptées, que ce soit en matière d’impôts directs ou indirects. Plus largement, ce processus de dématérialisation induit une révolution dans l’organisation de l’administration fiscale et des prérogatives qu’elle détient. Les adaptations des procédures de déclaration, de recouvrement et de contrôle fiscal sont incontournables et lesdites procédures s’en trouvent profondément bouleversées. Les entreprises et les particuliers doivent alors s’adapter à ce nouvel environnement, qu’ils exercent ou non une activité de commerce électronique. / The business exchange dematerialization needs clear tax rules to preserve state tax rights and transactions security for the global business within the framework e-commerce growth. We have to examine domestic law and international tax law for direct or indirect taxes. The dematerialization process leads widely organization and prerogatives tax authorities’ revolution. The tax return, the collection of tax and the tax audit adaptations must be addressed and procedures are deeply changed. Companies and private individuals have to adapt to the new technologies even if they do e-business or not.

Sistemas computacionais são constituídos por componentes de hardware e software que podem eventualmente falhar. Por esse motivo, o mecanismo de transação sempre foi imprescindível para a construção de sistemas robustos. O suporte transacional para a tecnologia Web services foi definido em agosto de 2005, num conjunto de três especificações denominadas WS-Coordination, WS-AtomicTransaction e WS-BusinessActivity. Juntas, essas especificações definem um alicerce sobre o qual aplicações robustas baseadas em Web services podem ser construídas. Nesta dissertação realizamos um estudo sobre transações atômicas em ambientes Web services. Em particular, estendemos o gerenciador de transações presente no servidor de aplicações JBoss, de modo que ele passasse a comportar transações distribuídas envolvendo Web services. Além disso, avaliamos o desempenho desse gerenciador de transações quando ele emprega cada um dos seguintes mecanismos de chamada remota: Web services/SOAP, CORBA/IIOP e JBoss Remoting. Finalmente, realizamos experimentos de escalabilidade e interoperabilidade. / Computing systems consist of a multitude of hardware and software components that may fail. For this reason, the transaction mechanism has always been essential for the development of robust systems. Transactional support for the Web services technology was defined in August 2005, in a set of three specifications, namely WS-Coordination, WS-AtomicTransaction, and WS-BusinessActivity. Together, such specifications enable the development of robust Web services applications. In this dissertation we studied atomic transactions in the Web services realm. Particularly, we added Web services atomic transaction support to the existing JBoss application server transaction manager. Furthermore, we evaluated the performance of this transaction manager when it employs each of the following remote method invocation mechanisms: Web services/SOAP, CORBA/IIOP and JBoss Remoting. Finally, we performed scalability and interoperability experiments.

Master´s thesis deals with the issue of VAT for electronic sales of computer games. The thesis contains a theoretical definition of basic concepts with subsequent identification of relevant business sector including obligations in the area of VAT which are relevant to a defined range of entities. Practical part consists of the methodology containing procedures and recommendations concerning the fulfilment of VAT related obligations. The methodology is intended for domestic taxable persons providing electronic services for non-taxable persons from around the world.

THE TITLE OF THE DIPLOMA THESIS AND ABSTRACT TITLE: Transaction Avoidance in Insolvency Proceedings Comparison of Czech and British Legislation ABSTRACT: The general goal of transaction avoidance in insolvency proceedings is to prevent the adverse effects of economic entity's collapse that might be multiplied both by an interest of the collapsing entity to dispose the residual property to connected or associated subjects and by a plurality of creditors with conflicting interests and logical motivation not to be subjected to the mandatory rules of the insolvency proceedings. The current attitude and status of Czech legislation and jurisprudence to transaction avoidance is affected by the fact that within the socialism (and the related decadence of jurisprudence) this legislation could not sufficiently evolve which resulted in a situation that Czech legislation is currently dealing with multiple theoretical and practical deficiencies that neighboring legal systems have dealt with many decades ago. The main goal of this theses is to provide thorough analysis of both Czech and (with regards to the content limit of this theses) also the British legislation and to point out the most crucial deficiencies in Czech legislation and possible inspiration in the British legislation. The theses is divided into four...

The project aims at solving the problem of non-repudiation, integrity and confidentiality of data when digitally exchanging sensitive resources between parties that need to be able to trust each other without the need for a trusted third party. This is done in the framework of answering to what extent digital resources can be shared securely in a decentralized public ledger-based system compared to trust-based alternatives. A background of existing resource sharing solutions is explored which shows an abundance third party trust-based systems, but also an interest in public ledger solutions in the form of the Storj network which uses such technology, but focuses on storage rather than sharing. The proposed solution, called SecuRES, is a communication protocol based on public ledger technology which acts similar to Bitcoin. A prototype based on the protocol has been implemented which proves the ability to share encrypted files with one or several recipients through a decentralized public ledger-based network. It was concluded that the SecuRES solution could do away with the requirement of trust in third parties for all but some optional operations using external authentication services. This is done while still maintaining data integrity of a similar or greater degree to trust-based solutions and offers the additional benefits of non-repudiation, high confidentiality and high transparency from the ability to make source code and protocol documentation openly available without endangering the system. Further research is needed to investigate whether the system can scale up for widespread adoption while maintaining security and reasonable performance requirements. / Projektet ämnar lösa problemen med oförnekbarhet, integritet och konfidentialitet när man delar känsligt data mellan parter som behöver lita på varandra utan inblanding av betrodd tredje part. Detta diskuteras för att besvara till vilken omfattning digitala resurser kan delas säkert i ett decentraliserat system baserat på publika liggare jämfört med existerande tillitsbaserade alternativ. En undersökning av nuvarande resursdelningslösningar visar att det existerar många tillitsbaserade system men även en växande andel lösningar baserade på publika liggare. En intressant lösning som lyfts fram är Storj som använder sådan teknologi men fokuserar på resurslagring mer är delning. Projektets föreslagna lösning, kallad SecuRES, är ett kommunikationsprotokoll baserat på en publik liggare likt Bitcoin. En prototyp baserad på protokollet har tagits fram som visar att det är möjligt att dela krypterade filer med en eller flera mottagare genom ett decentraliserat nätverk baserat på publika liggare. Slutsatsen som dras är att SecuRES klarar sig utan betrodda tredje parter för att dela resurser medan vissa operationer kan göras mer användarvänliga genom externa autentiseringstjänster. Själva lösningen garanterar integritet av data och medför ytterligare fördelar såsom oförnekbarhet, konfidentialitet och hög transparens då man kan göra källkoden och protocoldokumentation fritt läsbar utan att utsätta systemet för fara. Vidare forskning behövs för att undersöka om systemet kan skalas upp för allmän användning och alltjämt bibehålla säkerhets- samt prestandakrav.

Die Arbeit setzt sich das Ziel, den Ursache-Wirkungs-Zusammenhang zwischen den zahlungsbilanzrelevanten Transaktionen aufzudecken. Dieses Vorhaben legt eine zweigeteilte Analyse der Zahlungsbilanz nahe: Es wird zunächst über die Buchungsmechanik der nach ihrem wirtschaftlichen Charakter unterschiedenen internationalen Transaktionen aufgeklärt und anschließend folgt eine fundierte Zahlungsbilanzdiskussion, die Klarheit in die Ursache-Wirkungs-Beziehung bringt. Grenzüberschreitende Transaktionen werden eingeteilt in (reine) Finanztransaktionen und Leistungstransaktionen. Somit bezieht sich die Kausalitätsfrage auf den Zusammenhang zwischen diesen beiden Transaktionsarten. Das Ergebnis verkehrt gängige Vorstellungen über die Wirkungsrichtung ins Gegenteil und lautet: Die Leistungsbilanz bestimmt die Kapitalbilanz.:Abbildungsverzeichnis V Abkürzungen VII 1. Einleitung 1 1.1 Die Problemstellung 1 1.2 Zum Kausalitätsbegriff 8 2. Die Buchungsmechanik 15 2.1 Die Entstehung der Salden in der Zahlungsbilanz 15 2.1.1 Die Erfassung reiner Finanztransaktionen 16 2.1.2 Die Erfassung von Leistungstransaktionen 24 2.1.3 Die praktische Erfassung der Zahlungsbilanzbuchungen 29 2.2 Die Bedeutung der Salden 32 2.2.1 Die Wirkung reiner Finanztransaktionen 33 2.2.2 Die Wirkung von Leistungstransaktionen 40 2.2.3 Leistungsbilanzüberschüsse und (Netto-) Kapitalexporte 46 3. Der Wirkungszusammenhang 49 3.1 Zahlungsbilanzdiskussionen 49 3.1.1 Eugen von Böhm-Bawerk 50 3.1.2 Wolfgang Stützel 56 3.1.3 Die aktuelle Zahlungsbilanzdiskussion: Target2-Salden 64 3.2 Ursachenhypothesen 71 3.2.1 Die Kapitalbilanz bestimmt die Leistungsbilanz 72 3.2.2 Die Leistungsbilanz bestimmt die Kapitalbilanz 80 3.2.3 Lohnstückkosten und Leistungsbilanzsalden 103 4. Resümee 112 Literaturverzechnis 116