The Czech Republic has undergone a profound political, economical and social transformation in the past few decades. The changes that have occurred in society showed strongly in the change in the demographic behaviour of society and the change in the general population climate. The transition to...

The article aims to survey recent advancements in risk management field. First a popular quantile-based risk measure Value-at-Risk (VaR), nowadays widely used to asses exposure to market and credit risk, is presented. Four different approaches are introduced, implemented and backtested on PSE...