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Vývoj obecních rozpočtů při ekonomické krizi v období 2007 - 2010 na příkladu regionu NUTS 3 Jihočeského kraje

100%
Filip P., Veronika H., Petra P.
Littera Scripta
|
2012
|
vol. 1
89-101
EN
The global crisis that started with the crisis in the mortgage market in the U.S. was gradually transformed into a debt crisis that aects the majority of European countries and also aects the Czech Republic. The aim of this paper was to analyze the impacts of the economic crisis in public finance and their development, like development of the municipal budgets in the NUTS 3 regions of South Bohemia and using statistical methods to determine the variation in their budgets. For the analysis of municipal budgets the data from municipal budgets in the years 2007 - 2010 was selected, in which there the total and tax revenues of municipalities depending on the number of permanent residents were then closely monitored.
CS
Celosvětová krize, která odstartovala krizí na hypotečním trhu v USA, se postupně přetransformovala v krizi dluhovou, postihující většinu evropsk ých států a dotýkající se také České republiky. Cílem tohoto příspěvku byla analýza dopadù ekonomické krize ve veřejných financích a jejich vývoje, respektive obecních rozpočtů na území NUTS 3 Jihočeského kraje, a zjištění výkyvů v položkách těchto rozpočtů pomocí statistických metod. Pro analýzu obecních rozpočtů byla vybrána data z obecních rozpočtů v letech 2007 - 2010, ve kterých byly poté blíže sledovány celkové a daňové příjmy v závislosti na počtu trvale žijících obyvatel v obcích.
2

Impact Of Financial Crisis On Hedging Effectiveness Of Futures Contracts: Evidence From The National Stock Exchange Of India

67%
Gupta K., Kaur M.
South East European Journal of Economics and Business
|
2015
|
vol. 10
|
issue 2
69-88
EN
The present study examines the impact of the 2008 financial crisis on the hedging effectiveness of three index futures contracts traded on the National Stock Exchange of India for near, next and far month contracts over the sample period of January 2000 – June 2014. The hedge ratios were calculated using eight methods; Naive hedging, Ederington’s Model, Autoregressive Integrated Moving Average, Vector Autoregressive, Vector Error Correction Methodology, Generalized Autoregressive Conditional Heteroskedasticity, Exponential Generalized Autoregressive Conditional Heteroscedasticity and Threshold Generalized Autoregressive Conditional Heteroskedasticity. The study finds an improvement in hedging effectiveness during the post-crisis period, which implies that during the high-volatility period hedging effectiveness also improves. It was also found that near month futures contracts are a more effective tool for hedging as compared to next and far month contracts, which imply that liquidity is a more important determinant of hedging effectiveness than hedge horizons. The study also finds that a time-invariant hedge ratio is more efficient than time-variant hedging. Therefore, knowledge of sophisticated econometrical tools does not help to improve hedge effectiveness.
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