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Old Brno - CITY INSTEAD OF FACTORY
Hanousek, Jan ; Kotlas, Michal (referee) ; Františák, Luboš (advisor)
Studied area is located in the vicinity of the Old Brno Mendel Square, which currently operates as a transport hub. This is the area of the former factory Krass and a connected area towards the Brno Exhibition Centre. My intention was to create a pleasant site for a comfortable accommodation with facilities, services and shops. Public spaces for recreation with plenty of green for a harmonious environment where people like to spend time after coming home from work. The proposal is the most appropriate combination function, so that the streets were never empty. When I came out of formation conditions of the existing building traditions from the surrounding construction. Most buildings in the locality has a business parter, the courtyard is then oriented recreational facilities to their residents. The whole area is lined with a barrier of higher buildings. As the starting area of the square Mendlovo and exhibition is considered a shopping center with arcade. Below the center is also located car park. In the middle of the square is located, is easily identifiable by high-rise landmark - the chimney heat. Floors territory ranges from 4 to 12 floors with a gradation towards the center. The location is surrounded by traffic and be served a few strokes, so I tried to do not let in a lot of cars.
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Reservoirs - Brno, Zluty kopec (Yellow hill)
Vymětal, Bedřich ; Hanousek, Jan (referee) ; Palaščák, Michal (advisor)
This work is dealing with accessibility of area that is on the border of three subsystems that are blocked off by each other by topography. Unfulfilled potential caused by barrier disabling connection to the city structure. Relief of a city influencing reachability of its parts that causes its decline. Overcoming such a barrier could cause activation of the area without big intervention to the urbanity or function of given area.
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Essays on the Microeconomics of Banking
Dvořák, Pavel ; Hanousek, Jan (advisor) ; Čihák, Martin (referee) ; Kraft, Evan (referee)
Essays on the Microeconomics of Banking - Dissertation Abstract The thesis consists of four chapters and is primarily a contribution to the literature on the microeconomics of banking. The first chapter focuses on alternative explanations of the apparent vast international differences in retail bank fees between countries on different levels of economic development. Apart from the usual form of asymmetric information between the bank and its borrowers (i.e. the assumption that the bank cannot observe the borrower's type), the additional assumption is that the borrowers themselves can have false perceptions about their quality. It is shown that the higher is the degree of the borrower's misperceptions about their skills the higher fees should be expected. In an alternative setup it is shown that comparable results can be received when banks possess imperfect testing technology (this assumption replaces the assumption about the borrower's false perceptions). Moreover, simulations using both setups also imply that under realistic conditions increasing wealth inequality in a country (measured by a Gini index) leads to higher fees. The second chapter focuses on the effects of inter-bank information sharing on the degree of competition in the banking industry. Information sharing is shown to be an effective...
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Dependent zeros
Hanousek, Jan ; Pešta, Michal (advisor) ; Hendrych, Radek (referee)
This thesis investigates a specific type of non-negative time series containing a sig- nificant proportion of zeros. The goal of this work is to create a stochastic model which would be an appropriate representation of such time series. After examining existing theory about stochastic processes and the estimation of their parameters, we propose our own final models. Their suitability is tested using real-world data and the procedure shows that each model has its own advantages and limitations. Overall, the results are satisfactory, proving the credibility of the models and their applicability in practice and paving the way for possible further research on this topic. 1
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Essays on Information in Financial Markets
Štefko, Peter ; Hanousek, Jan (advisor) ; Baumohl, Eduard (referee) ; Vachadze, George (referee)
Peter Štefko - Dissertation Essays on Information in Financial Markets Abstract The first chapter of this dissertation carries out a multidimensional investigation of weak-form market efficiency for the stock market indices of the United States, Germany, and five CEE countries during the years following the 2008 Global Financial Crisis. We analyze developments over time in the predictable power and potential profitability of three classes of well known technical trading rules applied to market index prices, sampled at three different frequencies: daily, hourly, and 15-minute. We approach our analysis by testing for true abnormal performance of trading rules using White's Reality Check procedure as well as by evaluating a simple out of sample investment strategy based on ex-post best performing trading rules. We find that, while the developed stock markets of the US and Germany exhibit results strongly consistent with market efficiency at all three sampling frequencies, some evidence of predictable power of technical analysis (consistent with the concept of adaptive efficiency introduced by Lo (2005)) is present for the stock markets of Austria, the Czech Republic, Hungary, Poland, and Slovenia at the two intraday sampling frequencies. However, the results are challenged when we take transaction costs into...
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Essays on Sports Economics
Janhuba, Radek ; Hanousek, Jan (advisor) ; Humphreys, Brad (referee) ; Rees, Daniel (referee)
In the first chapter, I examine the effects of emotional shocks on subjective wellbeing and the role social context plays in how shocks are experienced. Using data from the Behavioral Risk Factor Surveillance System (BRFSS), the study uses an ordered logit model to estimate the effects of the local college football team's wins and losses on the life satisfaction of local citizens. The analysis suggests that unexpected wins have positive effects on life satisfaction. The results are driven entirely by games played at the home stadium, indicating that the impacts of emotional shocks are larger if the experience is shared with other fans. Moreover, the effects increase with the size of the stadium relative to the local population, suggesting that social context is likely to be the underlying factor. Surprisingly, no effects are found for cases of unexpected losses. The second chapter examines the relationship between the number of on-field officials and committed fouls, a phenomenon connected to the economics of crime. Economists have found mixed evidence on what happens when the number of police increases. On one hand, more law enforcers means a higher probability of detecting a crime, which is known as the monitoring effect. On the other hand, criminals incorporate the increase into their decision-making...
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Essays on Finance and Banking
Vovchak, Tamara ; Hanousek, Jan (advisor) ; Hasan, Iftekhar (referee) ; Kraft, Evan (referee)
Tamara Vovchak Abstract This dissertation contributes to the literature on financial intermediation by examining the importance of banks as liquidity providers for corporate borrowers and the role of liquidity on banks' financial performance, as well as its role in the context of joint determination with bank capital and risk. It has been accepted in the banking literature that lending relationships are special and bank loans are the important source of external financing for corporate borrowers. Although tight lending relationships have benefits for borrowers it also can pose threads when relationship banks experience liquidity problems. First chapter provides evidence about the transmission of banking sector problems to corporate borrowers, and examines the impact of bank credit supply frictions on firm performance. I exploit differences in the composition of banks' liabilities structure during the financial crisis of 2007-2009 as a source of exogenous variation in the availability of bank credit to nonfinancial firms, in order to identify the causal relationship between bank credit supply and firm performance. My results indicate that banking relationships are important for firms. Firms whose banks relied more on core deposit financing had a lower decline in bank credit during the crisis than those whose...
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Essays on Exporting Behavior of Firms and on Inflation Persistence
Saxa, Branislav ; Hanousek, Jan (advisor) ; Kmenta, Jan (referee) ; Švejnar, Jan (referee)
Research Journal Articles Working Papers Research in Brief Series Dissertations Other Publications Featured Article Dissertations Date: Tuesday, June 02, 2009 - 10:30 Branislav Saxa: "Essays on Exporting Behavior of Firms and on Inflation Persistence" Dissertation Committee: Jan Hanousek (chair) Evžen Kočenda Lubomír Lízal Krešimir Žigić Abstract: In the first two essays, I examine the behavior of exporters and non-exporters using a rich firmlevel panel data source from the Czech Republic. The first essay reacts to recent literature on learning-by exporting and explores whether exporting firms are more productive because initially more productive firms self-select themselves into exporting or because exporting firms are becoming more productive. To provide convincing estimates, one must be able to disentangle learning-by-exporting from changes in company management that induce the company to both start exporting and introduce productivity increasing measures. Therefore, I compare estimates based on matching on propensity score, which do not control for potential management changes, to estimates based on an instrumental variables strategy. Specifically, I focus on firms that start exporting due to changes in the industry-specific ratio of producer prices on domestic and foreign markets. The results suggest...
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Essays on Public Finance
Lichard, Tomáš ; Hanousek, Jan (advisor) ; Palda, Filip (referee) ; Fialová, Kamila (referee)
This dissertation analyzes two presently widely discussed topics in Public Finance: relationship between the shadow economy and tax policy, and the effect of financial transaction taxes on the functioning of financial markets. The first chapter describes presently used estimators of the size of the shadow economy, with a focus on microeconomic estimators. It illustrates problems with assumptions that a vast majority of recent studies use to identify underreporting (mainly the comparison of employed and self-employed) using data from four transition economies as an example. It shows that the most common assumption, that self-employed evade whereas employees do not is probably too strict in less compliant economies, where even employees have opportunities to evade through e.g. under-the-table wages or by moonlighting at unreported jobs. The second chapter develops an estimator of unreported income that relaxes some of these strict assumptions. Assuming only that tax-evading households have a higher consumption- income gap than non-evaders in surveys, an endogenous switching model with unknown sample separation enables the estimation of both the probability of hiding income and the expected amount of unreported income for each household. Using data from Czech and Slovak household...
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