The diploma thesis deals with the privatization of the pay-as-you-go pension systems, and it aims to theoretically and empirically disconfirm the widely spread imaginary benefits of the transfer to the fully funded social security system. These so-called social security myths are inherently connected with the transformation of the implicit pension debt to the explicit debt which, as confirmed by the designed multiple regression model, has a negative influence on rating and therefore on financing expenses of certain states. The thesis also focuses on legislative modifications of pension funds in the Czech Republic which fundamentally add to almost zero real annual yield. After subtraction of deferred expenses and revaluation reserve held in equity of particular pension funds, the average real annual yield in recent fifteen years is actually negative.
| Identifer | oai:union.ndltd.org:nusl.cz/oai:invenio.nusl.cz:71745 |
| Date | January 2010 |
| Creators | Baumruk, Luděk |
| Contributors | Jílek, Josef, Mládek, Josef |
| Publisher | Vysoká škola ekonomická v Praze |
| Source Sets | Czech ETDs |
| Language | Czech |
| Detected Language | English |
| Type | info:eu-repo/semantics/masterThesis |
| Rights | info:eu-repo/semantics/restrictedAccess |
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