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Economic Transformation and Inequality: Czech Republic, 1978-2016
Bernard, Adam ; Šedivý, Marek (advisor) ; Cahlík, Tomáš (referee)
The thesis is primarily focused on the analysis and description of the de- velopment of the gender wage gap in the Czech Republic before and after the Czech economic transformation. We studied and adjusted the datasets at the household level from two different sources Czech Social Science Data Archive (CSSDA) and Luxembourg Income Study Database (LIS) to ensure compati- ble results that are comparable for each year. Using the method of ordinary least squares regression we aimed to calculate the adjusted gender wage gap and compare the development of wage influencing factors. As a result of the study we found out that the gender wage gap follows a U-shaped trend with differences between male and female wages being 28% in 1978, then reaching 18% in 2004 and further declining to 23.3% in 2016. We observed a significant increase in marginal returns to tertiary education before and after the trans- formation. When comparing separate male and female population predictors, we observe opposite returns to having children and being married, positive for men and negative for women throughout the observed period. The contribution of this research lies mainly in providing comparable figures for all the observed years and may help us better understand the underwent changes concerning wage inequality. 1
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Macroeconomic Determinants of Crime: Evidence from Scandinavia
Hocková, Michaela ; Kalabiška, Roman (advisor) ; Cahlík, Tomáš (referee)
This thesis examines how various macroeconomic and demographic indicators infuence criminality in Scandinavian countries, taking into account existing literature on the determinants of crime in other regions. Using a combination of the vector error correction model and basic panel data techniques, several important fndings are extrapolated both on cross-country and regional levels. Unemployment, infation and divorces infuence the number of homicides and sexual crimes positively but property ofences negatively. Criminality in Scan- dinavia is also negatively related to average age and positively to population density. The importance of individual analyses for diferent global regions and crime types before the implementation of crime reduction policies is highlighted. JEL Classifcation A12, C23, J11, K42, O52, R19 Keywords criminality, panel regression, VECM, regional analysis, Scandinavia Title Macroeconomic Determinants of Crime: Evidence from Scandinavia
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Comparison of criminal behaviour development in the CR with trends in rich countries
Pokorný, Petr ; Cahlík, Tomáš (advisor) ; Polák, Petr (referee)
This bachelor thesis explores crime development in rich countries and compares it with crime development in the Czech Republic. The aim of this bachelor thesis is to statistically verify thoughts discussed in The Economist magazine about the downward trend in crime development in rich countries. In the first part of the thesis, terms related to crime are defined. Subsequently, rich countries are deter- mined. In the second part, the crime development in the rich countries is explored through a fixed effect model estimation of panel data. In the third part, crime de- velopment in the Czech Republic is analyzed by using a simple regression model and an autoregressive model. In the final part of the bachelor thesis, an econometric model analyzes factors that generally affect crime, especially wealth of countries. The arguments about the downward trend in crime development in rich countries are supported by statistical examination. 1
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Does Money Guarantee Success in Football?
Milenovský, Martin ; Cahlík, Tomáš (advisor) ; Cingl, Lubomír (referee)
E ciency wages theory says that better-paid workers are more productive. However, in sports it is often neglected as success is still attributed to greater talent, or luck than simply to a higher wage bill. Dealing with the issue of wages in sports is one of the most essential topics of sports economics. In the thesis we confirm that wages are statistically significant in explaining variation in performance in English, German, Czech, and Slovak top football leagues as well as in specific Northern American Major League Soccer. We conclude that the more restrictions and player transfer barriers there are, the smaller the role of wages is in determining performance. Apart from wages we deal also with transfer fees and find out that their role is overestimated by media and in reality their e↵ect is more disruptive than helpful. JEL Classification Z20, Z21, Z22, J30, J31, J39, L83 Keywords football, wages, wage budgets, transfers, pay- performance, professor salaries Author's e-mail martin.milenovsky@gmail.com Supervisor's e-mail cahlik@fsv.cuni.cz
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Is trust in economy neglected unjustly?
Lipták, Michal ; Janotík, Tomáš (advisor) ; Cahlík, Tomáš (referee)
This thesis is seeking theoretical background as well as statistical evidence of links between classical and institutional economy by connecting their typical phenomena, specifically the notion of trust from the theory of transaction costs and the notion of return velocity of money from the quantity theory of money. It proves, that trust in the mainstream economy actually is omitted unjustly, for there is a strong statistical correlation between trust and real, as well as nominal, outcome. This conclusion is notable despite that there was not found any definite empirical evidence that this correlation is caused by effect of trust on return velocity of money. Furthermore, the thesis is attempting to find determinants affecting the level of trust like ethnic and religious disunity of the nation, but attempts to find their effect have failed. Keywords: trust, institutional economy, classical economy, return velocity of money, tribes
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Does RIA Really Evaluate Regulatory Impact? The Case of the Czech Republic
Jára, Karel ; Schwarz, Jiří (advisor) ; Cahlík, Tomáš (referee)
Regulatory Impact Assessment/Analysis (RIA) has become a hot topic in the world politics as well as economic research in the last 20 years. Its basic definition as a tool to improve regulatory quality using cost-benefit analysis is viable only in the case when it is properly implemented for all potential sources of regulation, one of which is parliament with its amendments to bills. After summing up basic information about RIA and its history and surveying relevant literature on RIA, this thesis performs a pioneer analysis of the changes in regulatory impact of laws caused by parliamentary amendments. A sample of all laws passed in the Czech Republic in 2010 is studied. The passed amendments to these laws are analysed and it is found that only 3 out of 20 bills with RIA had amendments which made no changes in regulatory impacts of the bill. This supports the conclusion that the RIA implementation should take these amendments into account. Another finding is that circumventing of the RIA system occurs also in the case of non-governmental bills, which are not subject to RIA in the Czech Republic, as 18 of 32 bills without RIA did not have it due to their non-governmental origin.
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How Much of the Macroeconomic Variation in Ukraine Originates From External Shocks?
Fedorova, Alona ; Baxa, Jaromír (advisor) ; Cahlík, Tomáš (referee)
iv Abstract In this thesis, we investigate the relative importance of foreign shocks in the Ukrainian economy by estimating a small-scale SVAR model with block exogeneity restriction over the period 2003:2 - 2016:12. We find that external shocks from the EU and Russia account for a significant share of the macroeconomic variation in Ukraine. In particular, external shocks account for up to 97 % of variance in Ukraine's output and 85 % in inflation. Remarkably, foreign monetary policy shocks (both from the EU and Russia) account only for a tiny share of variance in all Ukrainian macro variables. Finally, we show that the inclusion of Russia in the 'foreign' block is important to achieve correct model specification. Without accounting for the effects of the Russian economy, Ukrainian variables over-react to shocks originating from the EU. We conclude that the National Bank of Ukraine should closely track external developments to achieve inflation targets. JEL Classification E52, F41, F42 Keywords vector autoregression, foreign shocks, monetary policy, Ukraine Author's e-mail alonafedorova0@gmail.com Supervisor's e-mail jaromir.baxa@fsv.cuni.cz
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