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Household indebtedness in Czech Republic
Michalčíková, Alena ; Kadeřábková, Božena (advisor) ; Babin, Jan (referee)
This thesis deals with the analysis of influence of choosen macroeconomic and demographic factors on the height of household indebtedness in Czech Republic from 2007 to 2012. The main goal is to study the influence of the unemployment rate on the total household indebtedness. This paper follows the study written by Erin Turinetti and Hong Zhuang (the analysis of indicators that cause growth of household indebtedness in U. S.) with the intention to verify their results on the czech households. In recent paper, this anlysis was extended by the influence of gross domestic product and job vacancies. Theoretical part deals with definition of household, with the theory of consumption and with the causes and development of getting into debt. In practical part of this paper there is examined the influence of individual factors on household indebtedness with the aid of regression analysis. On the basis of models it was proved that unemployment rate has significant influence on the total indebtedness. The increase of this indicator by 1 % will increase indebtedness by 16,5 %. Another important factor reveals to be gross domestic product. Its growth by 1 % leads to 0,000538 % growth in household indebtedness. The variables representing influence of share of inhabitance on basis of achieved education and job vacancies are covered in the extended model. The tendency to higher indebtedness was found out at university graduates. Job vacancies have also positive influence on the height of household indebtedness. It was also proven that the household indebtedness was 9 % higher during the years when economic crisis took place in comparison with another years. The data from Czech Statisitcal Bureau and from ARAD (Czech National Bank) was used for the purpose of this paper.
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ANALYSIS OF GRADUATES' WAGES IN RELATION TO WORK EXPERIENCE OBTAINED DURING STUDIES
Hrubý, Pavel ; Brožová, Dagmar (advisor) ; Kadeřábková, Božena (referee)
This thesis analyses how the work experience acquired during the university studies influences the starting salary of graduates. The first part is theoretical, mainly based on the Theory of Human Capital and the Screening theory. The data source for the second (practical) part of this thesis is a REFLEX research, which was performed in the Czech Republic in 2005. The regression analysis was used to prove the expected relationship between the graduate's salary level and an amount of work experience gained during their studies. It was proved that every year spent at work during the studies increases the future salary by 3%. However, there is no difference in the starting salary level between graduates who were working in their study field and those who were not.
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Effects on concumption of natural gas in Czech republic
Pavelková, Dominika ; Rod, Aleš (advisor) ; Kadeřábková, Božena (referee)
This thesis focuses on effects which influents consumption of natural gas in Czech republic. It examines significance of the effects with regression analysis. Monthly data 2008 - 2014 are used. As dependent variable is used consumption of natural gas and as explanatory variables are used weather, price of natural gas, price of electricity, price of coal and income. The aim of this thesis is to verify that effect of natural gas price is minimal and key factor is weather. The result of the analysis is that significant robust factor of natural gas concumption is only weather, in all examined models.
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Process of collect points on the political market of Czech Republic
Bezemková, Denisa ; Kadeřábková, Božena (advisor) ; Špecián, Petr (referee)
The aim of this thesis is to answer the question of how to influence the votes promises of the votes results of selected political parties.. Investigated periods are covering the years 1992-2010. Work first clarifies the votes issue as such, it focuses on the theoretical basis for creating a decision-making model. The analytical part is focused primarily on specific promises, their measurement and evaluation of occurrence. To confirm or refute the fact that they have had election promises to influence the election model is used multicriteria analysis. Finally, the promises are evaluated along with their performance and the model is enhanced of their performance.
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Determinants of growth of European SMEs
Pastva, Richard ; Babin, Jan (advisor) ; Kadeřábková, Božena (referee)
The subject of this thesis is an analysis of factors influencing the growth rate of small and medium enterprises in Europe. The required data was collected from Amadeus database and processed into a panel dataset. Afterwards, the regression parameters of the selected explanatory variables were obtained by means of fixed effects models. Results showed that enterprise growth rate was most significantly influenced by the rate of R&D costs, specifically its annual change in relation to turnover. Growth is also positively influenced by firm's profitability, annual change in intangible assets value and nation's growth rate of GDP. A negative effect on growth connected with solvency ratio was also found, which is consistent with a proposition of the pecking order theory. Once again, validity of Gibrat's Law was confirmed when size variable turned out to be statistically insignificant and slightly negative in addition. Not surprisingly, privately held companies operating in Western Europe showed a bit higher propensity to faster growth than their counterparts.
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The impact of foreign exchange intervetion of CNB on international trade of Czech Republic
Mikšík, Matěj ; Chytil, Zdeněk (advisor) ; Kadeřábková, Božena (referee)
The goal of this thesis is to analyze the impact of currency depreciation caused by foreing exchange intervention of Czech National Bank in November 2013 on international trade between Czech Republic and Germany. The volume of foreign trade of Czech Republic has been growing, but Czech Republic gradually loses commercial potential. The standart view of the impact of foreign exchange intervention is to stimulate export. But the theoretical concept called J-curve states that currency depreciation leads at first to the decrease of net export in the short run. To increase net export the Marshall-Lerner condition has to be met. The work verifies the hypothesis that after foreign exchange intervention the decrease of net export occurs before improving. Research uses cointegration analysis and Error correction model on the basis of quarter data from the first quarter of year 2005 to the second quarter of year 2014. The results confirms the concept of J-Curve in the bilateral trade of Czech Republic and Germany. In the first two quarters after foreign exchange intervention there is the decrease in net export. The Marshall-Lerner condition is met during the second quarter and the depreciation of the crown leads to the expected growth in net export.
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Is economic growth compatible with deflation? A case study of the United States in the 19th century
Němec, Petr ; Potužák, Pavel (advisor) ; Kadeřábková, Božena (referee)
In this thesis I examine the compatibility of deflation and economic growth. I summarize the negative effects of deflation and the conditions in which it works contrary to growth. Then I introduce arguments in favor of deflation as a phenomenon leading to the effective allocation of resources. I use the ordinary least squares method in order to estimate the relationship between deflation and economic growth. Data derived from the USA during the time period from 1800 to 1913 confirm the hypothesis that deflation is compatible with economic growth. Deflation is unambiguously compatible with economic growth in cases of growing productivity of factors of production.
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Alternative approaches to health promotion
Klesla, Arnošt ; Chytil, Zdeněk (advisor) ; Kadeřábková, Božena (referee) ; Kebza, Vladimír (referee)
The economic concept of health is defined as an ability to fully utilize human capital. The health promotion shall procure healthy lifestyle among the population. It also appears as the most efficient way to prevent diseases, in particular the non-communicable diseases (NCD). Economic analysis of human behavior offers the explanation of the rational choices as well as the decisions with bounded rationality affecting people's' health conditions. The Czech population health development analysis shows tendencies to careless approach in this area, that is illustrated by the increase incidence of sick leaves caused by NCD in higher age categories. Application of the health promotion in Czech Republic may be significantly improved by the outcomes of economic analysis of human behavior in these regards. Incidental issues are to be analyzed by the methods of logical deduction logical deduction, comparative analysis and empirical results of the statistical survey. Synthesis of the findings and conclusions of the analysis is the starting point for the modeling of health strategies, policies and programs promoting health in the Czech Republic. The main hypothesis is supported by the outcomes of this analysis with regards to the applicability of the economic analysis of human behavior on the health promotion and its positive macroeconomical impact on the current medical system sustainability. The primary contribution of the thesis consist in formulation of specific outcomes of the economic analysis of human behavior for the health promotion concept development. A secondary benefit is the proposal to measure personal productive incapacity in time by the indicator of work incapacity. In this context, the risk of non-infectious diseases impact deepening in older age categories of workers in Czech Republic is emphasized
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Institutional equilibrium in redistribution systems
Wawrosz, Petr ; Kadeřábková, Božena (advisor) ; Chytil, Zdeněk (referee) ; Hlaváček, Jiří (referee)
The topic of this thesis is institutional equilibrium, its formation and disruption in human systems. The thesis analyses what is common to the most human systems and concludes that it is some kind of redistribution. That is reason for the thesis title "Institutional equilibrium in redistribution systems". As the term institutional equilibrium comes from institutional economics, the thesis begins with characteristic institutional economy and its differences form mainstream economy, defines the term institution and methodological institutionalism and explains the reasons of institution evolution. Then, the problematic of redistribution is analyzed. The thesis brings a general model of a redistribution system and describes a coalition forming in it. The thesis concludes that such a process must be facilitated and regulated by institutions and that institutions define the negotiation strength of the players and stabilize their position. In a fourth chapter, the term of institutional equilibrium is defined and its preconditions and consequences are described. Factors preventing the redistribution system from reaching the equilibrium are shown. The analysis of institutional equilibrium formation follows; the open and closed systems are addressed separately, with the emphasis being put on open systems. In open systems, the creative destruction process in ever-present, disrupting the institutional equilibrium. Therefore, a question is posed: may there be such a structure of institutions which will stay unchanged despite the ongoing exogenous changes? Or, more precisely, the change of which will not be in the interest of the players? The thesis finds that the preconditions for institutions system facilitating the institutional equilibrium are investments into skills of the players and the open access into the system. The thesis also shows that such preconditions help to reduce undesirable redistribution. The fifth chapter analyses parallel redistribution games as one of the specific way of disturbing institutional equilibrium. The parallel redistribution games have secret character; their players do not want the other players to know about their game, because their game breaches the norms of the majority of players. The parallel redistribution games may be characterized as a form of opportunistic behavior. The thesis investigates the causes of these games, the reasons why they remain uncovered and the strategies of their players. Eventually, the conditions under which the parallel games may be reduced are formulated. The institutions must fulfill these conditions as well. In the end, the institutions structure capable of introducing the redistribution system into the institutional equilibrium state is defined.
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Essays on Economic Behaviour
Hudík, Marek ; Kadeřábková, Božena (advisor) ; Pavlík, Ján (referee) ; Boettke, Peter (referee)
The main thesis of these essays is that social phenomena are different from psychological phenomena and thus social sciences do not belong to behavioural sciences. Chapter 1 introduces the fundamental problem of the rational choice theory ("Macaulay's problem"): either the theory is empirical and false or it is without empirical content and true. Various suggested solutions to this problem are reviewed and criticized. It is argued that the problem is evaded once it is admitted that rational choice theory does not attempt to explain behaviour. It was developed to explain decreasing individual demand and its extension to behavioural sciences is illegitimate. In Chapter 2 the difference between the interpretation of rationality in choice theory and demand theory is shown. It is argued that choice theory must adopt the agent's point of view, while demand theory proceeds from the point of view of an observer. Chapter 3 applies the argument to the problem of indifference ("Nozick's problem"): it claims that choice theory must adopt strict ordering of alternatives because indifference is already accounted for in the description of the choice alternatives. The difference between the consumer perception and the objective price-quantity relation embodied in the demand function is further explored in Chapter 4 on the example of the Rothbardian demand theory. It is argued that the law of marginal utility defined in terms of subjective units (i.e. units relevant to the consumer) does not imply nonincreasing demand. Chapter 5 is complementary to the previous and attempts to answer the question, whether the concept of marginal utility is compatible with ordinalism. Finally, Chapter 6 discusses on the methodological level the difference between behavioural sciences and economics. It argues that the difference can be conveniently described with the help of Popper's concepts of 'World 2'and 'World 3'.
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