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Line construction within the life cycle from the perspective of BIM
Vacková, Veronika ; Výskala, Miloslav (referee) ; Aigel, Petr (advisor)
The aim of the work was the usage of the Building Information Modelling system to ensure the complete building-up, including the working part of the line constructions. In the first part of my thesis I was dealing with the costs of the total life of the line construction, the line construction life-cycle, with the difference between the Building Information Modelling model and traditional projecting, with the participators participants of the Building Information Modelling model and which levels in the Building Information Modelling exist. In the practical part I was dealing with two levels of the Building Information Modelling designing, in which I set the total price of the building researched and then I was comparing them. In the final chapter of the thesis working expenses were set which are involved in the expenses of the total life.
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Consumption over the Life Cycle: Evidence from the Czech Republic
Cahlíková, Jana ; Zápal, Jan (advisor) ; Hlaváček, Jiří (referee)
The main goal of this thesis is to analyze life-cycle consumption using Czech microeconomic data from the 2000-2008 Household Budget Survey (HBS). Inspired by Gourinchas and Parker (2002), who analyzed life-cycle consumption on American data, we construct the Czech average household life-cycle consumption and income profiles. It is found that the Czech average consumption profile is increasing over the whole life-cycle and there is no hump-shape in the profile, contrary to the American results. Consumption tracks income early in life and a breakpoint in household behavior is identified at age 45. Czech evidence on household consumption is interpreted in the context of the Certainty-Equivalent Life-Cycle Hypothesis Model and in the context of the Gourinchas & Parker (2002) Model of life-cycle consumption under income uncertainty, which brings a significant value-added for interpretation of the Czech profiles. The household behavior is interpreted by varying strengths of the precautionary (assuring against income uncertainty) and retirement motives for savings over the life. It is found that the Czech household life-cycle behavior can be interpreted in the similar way as the behavior of the US households. JEL Classification: D11, D12, D91, E21 Keywords: Consumption, Life-cycle, Household Behavior,...
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Firm leverage and wealth inequality
Bakota, Ivo
This paper studies the effects of a change in firm leverage on wealth inequality and macroeconomic aggregates. The question is studied in a general equilibrium model with a continuum of heterogeneous agents, life-cycle, incomplete markets, and idiosyncratic and aggregate risk. The analysis focuses on the particular change in firm leverage that occurred in the U.S. during the 1980s, when firm leverage increased significantly, and subsequently has been dropping since the early 1990s. In the benchmark model, an increase in firm leverage of the size that occurred during the 1980s increases capital accumulation by 5.38%, decreases wealth inequality by 1.07 Gini points and decreases government revenues by 0.11% of output. An increase in firm leverage increases average after-tax returns on savings, as firm debt has beneficial tax treatment. This increases the saving rates of all households, and disproportionately increases the saving rates of relatively poorer households. Consequently, the model implies that the increase in firm leverage did not contribute to rising inequality in the U.S. in the 1980s, but rather the opposite, that the reduction in leverage from the early 1990s to 2008 has contributed to rising wealth inequality. Furthermore, I show that if the model abstracts from beneficial tax treatment of corporate debt, the change in leverage has only minor effects on macro aggregates and inequality, despite having significant implications for asset prices. This is consistent with the previous result in the literature showing that the Modigliani-Miller theorem approximately holds in the heterogeneous agents model with imperfect markets.
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Consumption over the Life Cycle: Evidence from the Czech Republic
Cahlíková, Jana ; Zápal, Jan (advisor) ; Hlaváček, Jiří (referee)
The main goal of this thesis is to analyze life-cycle consumption using Czech microeconomic data from the 2000-2008 Household Budget Survey (HBS). Inspired by Gourinchas and Parker (2002), who analyzed life-cycle consumption on American data, we construct the Czech average household life-cycle consumption and income profiles. It is found that the Czech average consumption profile is increasing over the whole life-cycle and there is no hump-shape in the profile, contrary to the American results. Consumption tracks income early in life and a breakpoint in household behavior is identified at age 45. Czech evidence on household consumption is interpreted in the context of the Certainty-Equivalent Life-Cycle Hypothesis Model and in the context of the Gourinchas & Parker (2002) Model of life-cycle consumption under income uncertainty, which brings a significant value-added for interpretation of the Czech profiles. The household behavior is interpreted by varying strengths of the precautionary (assuring against income uncertainty) and retirement motives for savings over the life. It is found that the Czech household life-cycle behavior can be interpreted in the similar way as the behavior of the US households. JEL Classification: D11, D12, D91, E21 Keywords: Consumption, Life-cycle, Household Behavior,...
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Line construction within the life cycle from the perspective of BIM
Vacková, Veronika ; Výskala, Miloslav (referee) ; Aigel, Petr (advisor)
The aim of the work was the usage of the Building Information Modelling system to ensure the complete building-up, including the working part of the line constructions. In the first part of my thesis I was dealing with the costs of the total life of the line construction, the line construction life-cycle, with the difference between the Building Information Modelling model and traditional projecting, with the participators participants of the Building Information Modelling model and which levels in the Building Information Modelling exist. In the practical part I was dealing with two levels of the Building Information Modelling designing, in which I set the total price of the building researched and then I was comparing them. In the final chapter of the thesis working expenses were set which are involved in the expenses of the total life.
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