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Spillover effect on crime during the COVID-19 lockdowns in the Czech Republic
Vondrášek, Martin ; Mišák, Vojtěch (advisor) ; Schwarz, Jiří (referee)
This thesis seeks to assess the impact of COVID-19 restrictions on crime spill- overs within the context of the Czech Republic. To examine this effect, daily panel data are utilized, revealing that the implementation of COVID-19 mea- sures, such as restriction of free movement, has a significant negative effect on all crime categories, including Violent crimes, Property crimes, Offenses - BESIP, and Other offenses. The Ordinary least squares regression with fixed effects is used as a baseline model. However, due to the presence of spatially lagged dependent variable, a Spatial lag model with fixed effects is adopted to address this issue. Moreover, the analysis includes a z-test, which surprisingly demonstrates a statistically significant increase in the spillover effect in Offenses - BESIP during the COVID-19 period in the Czech Republic.
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Money Laundering and Suspicious Activity Reporting in the United States
Krouparová, Ivana ; Janský, Petr (advisor) ; Mišák, Vojtěch (referee)
Money laundering is a seriously understudied phenomenon and despite the continuous advancement of detecting technology, continues to be a serious issue today. This thesis provides a detailed definition of money laundering, lists some of the most common examples of how this illegal activity can be carried out in practice, and provides a brief historical overview of the U.S. efforts to combat it. The next segments follow up on previous research in order to evaluate the effectiveness of the U.S. suspicious activity reporting (SAR) system. The paper investigates whether an elevated prevalence of certain offenses, such as financial crime or drug trafficking, could explain the growing number of SARs or if the upward trend could be in part explained by institutions over-reporting in fear of the penalties set by the local regime. The estimates obtained by applying the random effects model on a panel of 51 U.S. states, including the District of Columbia, did not indicate a presence of excessive over-reporting. Instead, the regression results showed a negative correlation between the SAR filing rate and the prevalence of financial crime in the state. A conclusion is drawn that the increasing number of SARs cannot be viewed as a result of more financial crime, implying that systematic under-reporting may be...
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Measurement of Clarity of Financial Stability Reports
Mišák, Vojtěch ; Horváth, Roman (advisor) ; Jakubík, Petr (referee)
The topic of this diploma thesis is to measure and investigate the clarity of Financial stability reports from 27 European central banks. Using unbalanced panel data from 2004 to 2017 we found out variables that determine the level of clarity of Financial stability reports. Clarity indices are calculated by Flesch-Kincaid readability tests. Based on our results, we claim that the clarity of the Financial stability report is affected by the level of independence of the central bank and by non-housing macroprudential policy index. Furthermore, the clarity of Financial stability reports changes among years and especially during the financial crisis. According to spatial models, the distance between central banks really matters in the terms of the clarity of Financial stability reports.
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Central bank independence and its international dimension
Mišák, Vojtěch ; Horváth, Roman (advisor) ; Kučera, Adam (referee)
The aim of the bachelor thesis is to investigate central bank independence with the stress on its international dimension. We use spatial analyses to show the spatial spillover effect of central bank independence. We give few possible economic explanations, why central banks influence each other's independence. Because our data suffer from spatial correlation in error terms we had to used GMM estimation of our models. The most important finding of our research is that the distance is an important factor when describing the international dimension of central bank independence. Interested reader can look at the estimates of our control variables (Central bank transparency, Rule of law, Growth of GDP, membership in international organizations, Openness to trade and Inflation targeting regime) to better understand what determines the level of Central bank independence. Probably the most important finding are the estimates of Rule of Law, Growth of GDP and OECD and WTO membership. Surprisingly, Rule of Law has a negative impact on the level of central bank independence. On the other hand, countries that are members of OECD and WTO tend to have more autonomous central banks. Finally, we have compared our results to existing literature.
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