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How the Syrian immigration will affect the European economy; a short-term and long-term analysis.
Raygada, Sergio ; Potužák, Pavel (advisor) ; Prokop, Jaromír (referee)
The present concern of most member countries in the EU is the short and long term impact of the influx of the Syrian refugees on their economy. The crisis in the Syrian territory has caused citizens to seek refuge and safety in nearby countries, thus creating an imbalance in the micro and macroeconomic activities of the receiving countries.The quality as well as the quantity of labor an economy can access has a direct influence on its GDP growth. An influx of labor to an economy as a result of the massive migration crisis caused by war, if not strategically harnessed and economically managed, could induce economic challenges. The aim of this study is to examine and estimate the economic impact that migrants coming to the EU due to the Syrian civil war will have by doing a regression analysis of immigration on the European Union labor market with variables such as wages, fiscal positions and employment. This research articulates from its findings that this has further augmented economies with available labor, and as a result, inducing an increase in unemployment, wages, and GDP growth.
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Globální letecké aliance: vliv spolupráce na individuální výkon aerolinií
Vasilyev, Mikhail ; Zouhar, Jan (advisor) ; Prokop, Jaromír (referee)
In recent years such constellations, like global aviation alliances were formed and they have been developing a lot. They heavily affect the airline market. Using the data from annual reports of 11 different airlines on operational and financial performances, I run a panel data model. The main objective is to understand the effect of global aviation alliance membership on the performance of airlines - revenue and passenger flow in particular. Using different methods and models, such as fixed effects and first differences based on panel data I was not able to document a significant result. Therefore, I could not conclude that it is either beneficial or not in terms of revenue and amount of passengers for airlines to enter an alliance. However, it is not the only thing to take into account and there is more to be researched in this industry, as well as a possibility to improve this research.
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DETERMINANTS OF THE SHARING ECONOMY EMERGANCE; AN EXPERIMENTAL STUDY
Dahy, Adham Mohamed Wahied ; Miklánek, Tomáš (advisor) ; Prokop, Jaromír (referee)
This thesis explores the emergence of the newest type of economy the sharing economy one of the fastest growing economic phenomena in contemporary times. This thesis cites numerous research papers that encompass the sharing economy alongside other papers in different fields such as marketing and experimental economics. The main goal of this thesis is to disentangle possible channels that may have led to the increase in use of the sharing economy-provided services. To do so, we conducted an experiment using tools provided by the field of experimental economics. In the theoretical part of this thesis the main aim was to broadly explain what the sharing economy is as well as introduce the concepts to be used in the practical part. At the beginning I focus on defining the sharing-economy concept including its many definitions when it first appeared and the three phases that account for its emergence. I then explain the sharing economy concept providing the reason it is gaining worldwide recognition as well the main enablers behind it major companies involved with it the three main systems operating within it and the economics behind it. Finally I explain the many angles associated with its success, such as the concepts of Web 2.0 and P2P. Towards the end of the theoretical part I introduce the concepts that are relevant to the practical part and the experiment including risk-preferences information cascades and peerpressure. The practical part of this thesis focuses on the experiment including methodology designs treatments results etc. In the practical I present the hypothesis and the econometric model used for running the regression in order to test my hypothesis. Lastly I present the outputs I have obtained after running the regression, and comment on their significance and relevance to my hypothesis.
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Crude Oil and its Economic Effects on Russia
Gryzunov, Anton ; Chytilová, Helena (advisor) ; Prokop, Jaromír (referee)
With help of regression analysis it was concluded that there is positive relationship between real GDP and Brent oil price. Also the positive dependence was found between real GDP and both index of industrial production and real personal consumption expenditures. On the other hand the relationship between long-term interest rate and real GDP was negative. Unemployment rate and consumer price index were not significant and had negative dependence with real GDP. The aforementioned hypothesis about the negative relationship between GDP and price of oil was confirmed in line with initial theoretical predictions based on detailed review of Russian economy.
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Impact of Technological Change on Employment and Wages in the EU
Ahmadov, Vugar ; Špecián, Petr (advisor) ; Prokop, Jaromír (referee)
This thesis examines the impact of technological advancements on employment and wages in European Union. In order to examine this relation the date set for period over 1990-2010 of 10 European Member states were used. The data represented statistical information for Austria, Germany, France , Finland, Spain, Denmark, Netherlands, Ireland , Italy and the United Kingdom. With the help of regression it was concluded there is significant relation of employment and wages with technological advancements. I use the R&D expenditures share of GDP as main proxy for technological advancements, unemployment rate and average wage for dependent variable. Using the Fixed Effects estimator, I found that there is negative relation between R&D expenditures and Unemployment rate. Similarly, I found that there is negative relation between R&D expenditures and Average Wages. Thus , I discuss possible explanation for this paradox.
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Does European Union and national regional policy correlate with a decrease in unemployment rate in Romania?
Gorda, Diana ; Ševčíková, Michaela (advisor) ; Prokop, Jaromír (referee)
The bachelor thesis aims at answering the question if the regional and European Union Cohesion policy correlates with a decrease in unemployment rate in Romania. The thesis starts the analysis with a controversial theoretical background, including the convergence and divergence views and the related economic theories, as Solow and AK models. The study proceeds to a short description of the Cohesion Policy, its funds and targeted aims. The bachelor thesis then analyses the challenges of the Romanian labor market, the reasons that bring to a non-competitive labor environment, and further on focuses on the vulnerable groups of population most affected by unemployment. At the same time, at this section the paper provides a final distinction between two time horizons: before joining and after joining the European Union. The last part of the research is composed of an empirical work concerning Cohesion policy funding and the effectiveness on a macroeconomic indicator, as unemployment. The correlation between unemployment rate and Cohesion Policy is found to be negative, as expected from the theoretical background.
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The Effect of Exchange Rate Fluctuations on a Trade Balance, the case of Russia.
Masliukova, Tatiana ; Chytilová, Helena (advisor) ; Prokop, Jaromír (referee)
This thesis examines the impact of exchange rate fluctuation on trade balance. In order to examine the effect of depreciation of domestic currency on the trade balance, the data for Russian Federation was used. The time series analysis includes quarterly data since 2000 till 2014. With help of cointegration model it was concluded that there is a long-term dependence between exchange rate and trade balance. Regression results suggest that the impact of depreciation of national currency on trade balance of Russia is positive after one quarter, while response of exchange rate depreciation without time lag is deterioration of the balance of trade. This empirical evidence supports the pattern of movement described by the J-Curve.
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Leading, coincident and lagging indicators in the U.S. business cycles
Bon, Andrew ; Janíčko, Martin (advisor) ; Prokop, Jaromír (referee)
This thesis focuses mainly on analysing leading indicators of business cycles within the USA since the 1960s until the present, while providing theoretical background to the coincident and lagging indicators. United States is a country with incredibly rich amounts of data, which enable a thorough analysis of individual variables. First part is dedicated to different theories that explain the behaviour of cyclical fluctuations, such as a monetarist, Keynesian, or real business cycle approaches are included, followed by defining individual cyclical indicators with the provision of examples. Second part consists of actual analysis starting with dating post-war cycles and real GDP development. Three leading indicators are then analysed and evaluated, specifically the amounts of building permits issued, spread between a 10-year Treasury constant maturity bill and Federal funds rate and finally the unemployment insurance claims. Evaluation is based on individual success rates obtained from historical data. The third and final chapter attempts to forecast the economic outlook of the current business cycle using obtained data from the previous chapter. Conclusion provides an overall summary of individual parts along with pointing out the main findings.
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Technological Unemployment and an Attainable Way Out
Pavlova, Adelina ; Špecián, Petr (advisor) ; Prokop, Jaromír (referee)
The purpose of the thesis is to analyze the available information on the technological unemployment issue. The hypothesis of the thesis is that displacement of workers because of technological development has reasonable chances to happen in the future. Technological unemployment is hotly debated issue. Some part of economists argue that technological unemployment is a short-term problem; others see it as a risk for society. Thus, at this stage it is important to identify controversy in studies, analyze proposed policies and suggest the possible strategies. In order to gain the in depth knowledge required for the thesis a literature synthesis methodology was used. The concluding recommendations for researchers and policy makers include three important point to design an appropriate policy measure: number of population in a region, specialization of a region, previous placement of a worker. The effective solution is considered a mix of policies to target the problem from different prospective.
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Measuring the Cultural Difference in Individual Attitude Towards Risk
Tetenova, Evgeniia ; Špecián, Petr (advisor) ; Prokop, Jaromír (referee)
Weber, Blais and Bets (2002) found that difference in risk attitudes and behaviour can depend on the context: individuals can change risk attitude across different domains. Among these domains are financial, which consists of investment and gambling, social, recreational, health/safety and ethical. The aim of this thesis is to investigate the differences in risk attitudes between the Czech Republic and Russia. For this purpose data for the empirical analysis was gathered using a questionnaire based on Domain-Specific Risk-Taking (DOSPERT) Scale proposed by Weber, Blais and Betz (2002). The collected data were analyzed using linear regression, following Weber, Blais and Betz (2002) and Breuer et al. (2013). The main findings revealed that there is a difference in risk attitude: the participants from Russian sample tend to be more risk-seeking in financial domain, especially in gambling, than the respondents from Czech sample. Also interesting finding is that Russians are more interested in getting profit or any other kind of benefits from the participation in risky activities, while Czechs decide to engage in risky activities by first taking into account their individual perception how risky these activities could be.
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