National Repository of Grey Literature 71 records found  1 - 10nextend  jump to record: Search took 0.01 seconds. 
Does Language Drive the Crowd? Case of Czech Reward-Based Crowdfunding
Hudcová, Tereza ; Polák, Petr (advisor) ; Schwarz, Jiří (referee)
This thesis analyses the biggest reward-based crowdfunding platform in the Czech Repub- lic using textual tools on uniquely collected microdata. The research question investigates which of the attributes of project campaigns (including the language style of project de- scriptions) have a significant impact on successful funding. Empirical analysis combines results of Bayesian Model Averaging and logistic regression. Results reveal that firstly, language style of project descriptions does not possess any significant predictive power. Secondly, that utilization of a video, size of pledging goal, or the number of contributors have a significant effect on the campaign's success, which is in line with current literature. Thirdly, it has proven to be true that project categorization plays an important role as well. On the contrary, the findings do not imply any causal claims, such as whether those factors persuade contributors to donate money. JEL Classification G23 Keywords crowdfunding, rewards, success determinants, natural language processing Author's e-mail t.hudcova@gmail.com Supervisor's e-mail polakpet@gmail.com
The Economics of Face Masks: application of VSL's controversy and GDP's critique on the case of the Czech face masks sewing initiative and its value estimation
Malá, Markéta ; Schwarz, Jiří (advisor) ; Havránková, Zuzana (referee)
The thesis describes the economic context of the face masks sewing initiative in the Czech Republic (the prompt and extensive help of volunteers with tackling the face masks' shortage during the COVID-19 pandemics) and attempts to estimate its economic value. Even in the most conservative scenario that assumes efficacy of face masks to be only 8 %, the results suggest that the initiative still created lower units of billions CZK in economic value as a result of contributing to the prevention of 6,290 - 18,825 infections, 1,006 - 3,012 hospitalizations and 95 - 284 deaths only within the first month. If we assume 20 % masks efficacy, the initiative's value equals to 1 - 9 % of the Czech monthly GDP .
The Stagnation of Productivity in the Czech Republic: Does the Country Suffer from Baumol's Cost Disease?
Blaha, Jakub ; Pleticha, Petr (advisor) ; Schwarz, Jiří (referee)
This thesis examines the impact of diverging productivity gains across indus- tries in the Czech Republic and identifies their effect on other economic indi- cators. Using methods standard in the literature about Baumol's model, we analyze yearly sectoral data in the Czech Republic for the period 1995-2015 and examine the presence of Baumol's diseases. Using the econometric concept of fixed effects model, our findings are in line with the predictions of Baumol (1967) as relative prices decline in progressive sectors; and sectoral growth of wages is rather independent of the productivity growth. Additionally, sectoral growth of labour productivity is accompanied by a diminishing share of working hours. Opposite to what Baumol's model suggests, we rejected the hypothesis of the 'constant real share' as productivity growth tend to raise real output. And because the volume of this effect is relatively stronger than the decline in the prices, technological advancement has resulted in nominal output growth. Finally, we have demonstrated that sectoral shifts towards stagnating indus- tries have tended to lower aggregate labour productivity growth. Although the results of our study show the presence of Baumol's cost and growth diseases in the Czech Republic, their magnitude differs considerably from the current...
The Impact of Ethnic Diversity on Institutions and Economic Development in Former Yugoslavia
Kaltak, Miran ; Schwarz, Jiří (advisor) ; Cahlík, Tomáš (referee)
The aim of the thesis was to conduct a research on impact of ethnic diversity on the economic growth of the countries of ex-Yugoslavia. The main hypothesis was that ethnic diversity affects economic growth. The research was done by using two different methods: a) calculating ethnic fractionalization index and GDP per capita; b) analyzing institutions as channels through which ethnic diversity effects economic growth. The results obtained within the first model demonstrated that diversity negatively influences economic growth. Still, no reliable conclusions could be made, due to low variability in data, short time frame considered and lack of regular data collection. Therefore, the second method reviewed institutions as a channel through which ethnic diversity affects economic growth. The conclusion of this model was that, ethnic diversity mainly has negative impact on the indicators reviewed, which then results in slower economic growth. The results of the research showed that ethnic heterogeneity is an important element in economic, political, institutional and social life of a country. It can be concluded that ethnic diversity is an important factor that should be taken into consideration when doing economic planning in a country as it has direct and, very often, strong impact on economic growth.
Austrian Business Cycle Theory and Its Application to Economy of Euro Area
Forejt, Martin ; Hlaváček, Michal (advisor) ; Schwarz, Jiří (referee)
This thesis is aimed at econometric testing of the Austrian business cycle theory on data from euro area. The thesis consists of two models. First model tests the hypothesis that decreasing the market interest rate below the natural interest rate increases consumable output in the short run and decrease in the long run. The second model examines the effects of changes in interest rates of different maturities on the structure of production and employment in different national sectors of production. We reject the first hypothesis in this thesis, but confirm other two hypotheses. 1
Vliv institucí na přeshraniční rozptyl
Schwarz, Jiří ; Jurajda, Štěpán (advisor) ; Horváth, Roman (referee)
This thesis, building on existing studies on border effect, analyzes price dispersion among cities in the European region over the last twenty years (1990-2009). An extensive overview of the literature reveals that the authors completely neglect the entrepreneurial aspect of the arbitrage process, even though arbitrage is the main power behind the law of one price. Once we understand arbitrage as productive entrepreneurial activity, institutional quality should be one of determinants of arbitrage attractiveness and should, therefore, influence the price dispersion. To test this hypothesis I express the quality of institutions as one of the factors influencing total costs of arbitrage, together with population density in cities used as a proxy for competition intensity, and distance. The regression analysis proves that all three variables explain a part of observed price dispersion - the higher is the density and the better are the institutions, the lower is the predicted dispersion. This result can also be viewed as a small contribution to the emerging literature empirically testing the theory of productive and unproductive entrepreneurship.
Effect of Election Preferences on the Stock Prices
Efros, Ganna ; Kočenda, Evžen (advisor) ; Schwarz, Jiří (referee)
There exist a lot of empirical researches, that examine what factors effect the stock market volatility. The concept of investor sentiment is quite popular and is frequently discussed. However, there does not exist any research which would study the relation between the change in election preferences during the presidential campaigns and stock market volatility. The present thesis explores the effect of political sentiment on United States and French models. Here, we construct the model, which examines the effect of change in election preferences on the volatility. The results suggest, that change in election preferences does not affect the stock market volatility during the presidential campaign. Thus, its inclusion to the model does not increase the prediction power.
Evaluation of Residual Shape Risk: Gas Energy Markets
Kouřílek, Jakub ; Janda, Karel (advisor) ; Schwarz, Jiří (referee)
The thesis evaluates and quantifies the residual shape risk on the Czech nat- ural gas market. The risk stems from insufficient liquidity of forward mar- ket, when energy supplier has to hedge his short shaped sales by standard baseload products available at wholesale market. Hence, energy supplier is always left with residual position, which has to be closed at spot market. We model the residual shape risk as a difference between spot and forward prices weighted by residual position, which is derived from the shape of innogy En- ergie, s.r.o. household portfolio. In order to do so we develop model for a spot price dynamics based on the daily index OTE. We price forward contracts as expected spot price at delivery. The spot price dynamics is modelled as a mean-reverting Ornstein-Uhlenbeck process, while assuming two different driving stochastic processes for innovations. First, we model them as a mixed jump diffusion process. Second, we estimate control model assuming innova- tions to come from the normal inverse Gaussian distribution. The residual shape risk is then evaluated by Monte Carlo simulation of spot price paths, which we use for hedging the portfolio shape. Five percent Value-at-Risk and the Expected Shortfall measures for the jump mixed diffusion process yield costs of 0.013 and 0.016 EUR/MWh,...
Monetary Policy and Stock Market Returns: Does the ZLB make a difference?
Hysa, Emiljano ; Baxa, Jaromír (advisor) ; Schwarz, Jiří (referee)
This thesis provides analyses of the impact of monetary policy on stock market returns under the zero lower bound. Using a VAR model with time-varying parameters and stochastic volatility, it aims to verify and reconfirm the relevance of monetary policy for stock market returns. This investigation has been carried out on the cases of the U.S., the E.U., and the U.K. When the interest rate is being constrained by the zero lower bound, the interest rate is approximated by the shadow interest rate in the spirit of Kippner or Wu-Xia. The findings can be summarized in three main points. Firstly, it is shown that stock markets react positively to negative shock into shadow interest rate, so the central banks were able to affect asset prices even after the interest rates hit the zero lower bound. Secondly, the impulse response functions suggest that even though the monetary policy is able to affect asset prices, it does so by being less effective. Thirdly, the analyses revealed the cross-country differences in each of the cases, as the monetary policy impact changes across samples both in terms of efficacy and magnitude.

National Repository of Grey Literature : 71 records found   1 - 10nextend  jump to record:
See also: similar author names
6 Schwarz, Jakub
1 Schwarz, Jan
30 Schwarz, Jaroslav
2 Schwarz, Josef
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