National Repository of Grey Literature 32 records found  1 - 10nextend  jump to record: Search took 0.01 seconds. 
Two Essays on the Modeling of Monetary Policy Transmission Mechanism
Rusnák, Marek ; Horváth, Roman (advisor) ; Svoboda, Svatopluk (referee)
In first essay, we investigate the evolution of monetary policy transmission mechanism in the Czech Republic over 1993:1 - 2009:9 period by employing time varying parameters Bayesian vector autoregression model with stochastic volatility. We document relative stability of monetary policy transmission mechanism over time. However, there is some evidence that the transmission to prices was weakened temporarily during the climax of the financial crisis, but appear to be back to its pre-crisis strength already in the second half of 2009. Further, we augment the estimated system with a financial variable to investigate the significance of financial shocks for the transmission. The results suggest that financial shocks indeed play relatively important role in explaining the fluctuations of the output and prices. Second essay presents a meta-analysis of the effects of a monetary policy shock on prices. First, we present some summary statistics that document the pervasiveness of the price puzzle, which denotes an increase in the price level following a contractionary monetary policy shock, in the results of empirical studies. Next, using meta-regression methods such as funnel asymmetry test, we find the evidence of publication selection bias that increases with the horizon studied. Finally, we use explanatory...
The impact of regulation on innovation capacity in the telecommunication sector
Šperková, Lenka ; Cahlík, Tomáš (advisor) ; Rusnák, Marek (referee)
This paper provides an analysis of efficiency and innovation capacity of regulatory measures in two major areas of telecommunication sector: voice telephony and broadband market. In the first part we introduce basic concepts connected with development and performance of voice telephony along with recent European regulatory measures connected to mobile termination rates (MTR) and possible externalities. Impact of introduction LRIC approach on prices of local calls is provided by econometric panel data model covering 17 countries from 2004 till 2011. We have found no significant impact. In the second part we study broadband market segmentation and performance in connection with application "ladder of investments" and "local loop unbundling" approaches. This model is tested on panel dataset of 23 countries in 2004-2010 period of time. Our findings include presence of positive relationship between all three forms of unbundled accesses with different magnitudes of effects. Following test of access payments impact on facility-based competition has detected that: high (average monthly) payments per fully unbundled access do not tend to have positive impact on number of entrants' lines. Despite this result consolidation of our findings supports "ladder of investments" and "local loop unbundling" theory in...
Two essays on the modeling of monetary policy transmission mechanism
Rusnák, Marek ; Horváth, Roman (advisor) ; Svoboda, Svatopluk (referee)
In first essay, we investigate the evolution of monetary policy transmission mechanism in the Czech Republic over 1993:1 - 2009:9 period by employing time varying parameters Bayesian vector autoregression model with stochastic volatility. We document relative stability of monetary policy transmission mechanism over time. However, there is some evidence that the transmission to prices was weakened temporarily during the climax of the financial crisis, but appear to be back to its pre-crisis strength already in the second half of 2009. Further, we augment the estimated system with a financial variable to investigate the significance of financial shocks for the transmission. The results suggest that financial shocks indeed play relatively important role in explaining the fluctuations of the output and prices. Second essay presents a meta-analysis of the effects of a monetary policy shock on prices. First, we present some summary statistics that document the pervasiveness of the price puzzle, which denotes an increase in the price level following a contractionary monetary policy shock, in the results of empirical studies. Next, using meta-regression methods such as funnel asymmetry test, we find the evidence of publication selection bias that increases with the horizon studied. Finally, we use explanatory...
Portfolio selection based on hierarchical structure of its components
Ševinský, Robert ; Krištoufek, Ladislav (advisor) ; Rusnák, Marek (referee)
This thesis investigate empirical performance of three portfolio selection and covariance matrix models. The goal is to find a strategy that outperform equally weighted portfolio in the long run and survives even in times of finan- cial distress. Two models based on Markowitz approach absolutely failed in this context, however the last approach based on network analysis indeed out- perform the market even after risk adjustment of returns. Moreover this model have sparse transaction matrix throughout time, therefore exhibit excellent properties even in the presence of transaction costs. Results for network based portfolio were obtained from running a back test on 160 member companies of S&P 500 index for 6'000 trading days. JEL Classification G11, G32, C10 Keywords Portfolio selection, Minimum spanning tree, Transaction costs, Covariance matrix Author's e-mail r.sevinsky@gmail.com Supervisor's e-mail kristoufek@ies-prague.org
Analysis of the possible effects of TTIP on Czech automotive sector
Janičata, Jiří ; Semerák, Vilém (advisor) ; Rusnák, Marek (referee)
This thesis analyzes possible effects of TTIP treaty on Czech automotive sector. First part of thesis describes history of trade liberalization between EU and USA and actual state of TTIP. Second part describes current tariff and non-tariff barriers in automotive sector, which can be removed or reduced after ratification of TTIP. Third part shows results of selected impact assessments of TTIP and explains CGE model, which will be used in final part. In the final part, an estimate of the impact of the TTIP contract on the Czech automotive industry is made on the basis of selected scenarios. The CGE-GTAP model using the data from the GTAP 9 database was selected for the impact assessment. The scenarios simulate the economic shock that would occur after the tariff cuts or non-tariff barriers between EU countries and the US using the shock of selected exogenous variables in RunGTAP program. The results of the models show a significant increase in exports from the Czech Republic to the USA in the simulation of tariff and non-tariff barriers, but also a slight decrease in exports to other regions. New findings are summarized in the summary, complemented by the author's commentary.
Essays in Applied Meta-Analysis
Polák, Petr ; Havránek, Tomáš (advisor) ; Pugh, Geoff (referee) ; Rusnák, Marek (referee) ; Reed, William Robert (referee)
The dissertation consists of three papers presenting applications of meta-analysis in economics and introductory chapter which discusses the development of meta-analysis in author's perspective as well as strengths and weaknesses of this quantitative method to synthesize empirical research. In the first paper analyses the impact of information and communication technology investments on productivity. The second paper focuses on the trade effect of the euro. In the third investigates the relation between international trade flows and trade costs.
Analysis of the possible effects of TTIP on Czech automotive sector
Janičata, Jiří ; Semerák, Vilém (advisor) ; Rusnák, Marek (referee)
This thesis analyzes possible effects of TTIP treaty on Czech automotive sector. First part of thesis describes history of trade liberalization between EU and USA and actual state of TTIP. Second part describes current tariff and non-tariff barriers in automotive sector, which can be removed or reduced after ratification of TTIP. Third part shows results of selected impact assessments of TTIP and explains CGE model, which will be used in final part. In the final part, an estimate of the impact of the TTIP contract on the Czech automotive industry is made on the basis of selected scenarios. The CGE-GTAP model using the data from the GTAP 9 database was selected for the impact assessment. The scenarios simulate the economic shock that would occur after the tariff cuts or non-tariff barriers between EU countries and the US using the shock of selected exogenous variables in RunGTAP program. The results of the models show a significant increase in exports from the Czech Republic to the USA in the simulation of tariff and non-tariff barriers, but also a slight decrease in exports to other regions. New findings are summarized in the summary, complemented by the author's commentary.
Essays on monetary policy transmission
Rusnák, Marek ; Horváth, Roman (advisor) ; Baxa, Jaromír (referee) ; Pugh, Geoff (referee) ; Belke, Ansgar (referee)
The dissertation consists of three papers presenting applications of meta-analysis in macroeconomics and two papers dealing with real-time data properties and forecasting. The first two papers examine the effect of monetary policy on price level, while the third paper investigates the habit formation in consumption. Fourth paper presents a model to nowcast Czech GDP in real time, while the last paper looks at the properties of data revisions to Czech national accounts.
The Footbridge
Rusňák, Marek ; Šmak, Milan (referee) ; Buchta, Stanislav (advisor)
The main goal of this diploma thesis is a design and verification of a steel footbridge crossing the river Dřevnice in Zlín. As the basic material steel S355 and for selected members steel S235 was chosen. There are two structural variants designed in the introductory part of the thesis. These variants are then compared and in the next part only selected, more favourable variant, is addressed. The selected variant is a truss footbridge with a bridge deck at the bottom and curved top chords. The bridge deck consists of floor beams and steel plate with longitudinal stiffeners. The span of the structure is 35.0 m, the width of the footbridge is 3.9 m and its height in the middle of the span is 4.2 m.

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See also: similar author names
1 Rusnak, Mariya
17 Rusnák, Marek
17 Rusnák, Marek
5 Rusňák, Martin
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