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High Frequency Price Index of Construction Materials
Štefl, Josef ; Polák, Petr (advisor) ; Čech, František (referee)
The paper explores the possibilities of using big data in economics in an effort to shift research from a study of statistical samples towards basic populations. To this end, the Construction Materials Price Index was created to capture price level movements in this market segment on weekly basis. This specific field was chosen because, despite its signi- ficance, it has not yet been examined in much detail by the Czech Statistical Office. The underlying index data represent the complete offer of the three most significant Czech eshops with building materials, which is periodically obtained through web scraping. The research took place between October 2021 and June 2022. The nine-month evolu- tion of the index reflects the economic recovery after the covid-19 pandemic, but also the sharp market response after the Russian invasion of Ukraine. This bachelor thesis contains a detailed description of the methods used as well as a thorough analysis of the results. JEL classification Keywords Title C43, C55, C80, E31, E37 inflation, high frequency price index, big data, web scraping, construction materials price level High Frequency Price Index of Construction Materials High Frequency Price Index of Construction Materials Josef Štefl
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Airbnb analysis
Šáchová, Lenka ; Polák, Petr (advisor) ; Bajgar, Matěj (referee)
This thesis investigates the e ect of the COVID-19 pandemic on the Airbnb market in the Czech Republic. 10501 Prague listings were analysed using the method of cross-sectional logistic regression, and the key factors di erentiating the listings that remained active despite the pandemic were determined. The author indicates sixteen explanatory variables covering general information, location, space attributes and the professionality level and provides empirical evidence that the most negative influence factors were outside centre location and the accommodation types of shared and private rooms. The thesis informs on the post-pandemic situation of Airbnb market in Prague and provides a better understanding of the impact of COVID-19 on the platform. Keywords Airbnb, COVID-19, sharing ecnomy, logit
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Analysis of Investments and Market Value of Football Clubs
Podzemský, Lukáš ; Polák, Petr (advisor) ; Červinka, Michal (referee)
In the most recent times, success in football competitions and huge money in- vestments became almost synonyms. This thesis investigates to what degree the market value of a team impacts their success in modern European football. Furthermore, this work extends the existing literature by focusing on the in- dividual in-game positions' effect on success based on the market values. This thesis uses correlation analysis and OLS regression in its empirical part. Data sample covers last six seasons starting in 2015/2016 and three major competi- tions - Premier League, LaLiga and Serie A. The first important finding comes from the Pearson correlation coefficient for the position in standings and posi- tion by market value of a team, and it is that the Serie A has the highest level of correlation between those two variables equal to 0.87. On the other hand, from the OLS regression, we found out that the least amount of extra investment is required in Serie A to get extra points. The most expensive competition in this way is Premier League. Finally, this work finds an evidence that the most important position for success with the highest returns on investment is defense for Premier League, midfield for Serie A, and offense for LaLiga. Fur- thermore, the importance of goalkeepers was not found to be...
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The transition from IBORs to new benchmarks
Ratajová, Kateřina ; Polák, Petr (advisor) ; Čech, František (referee)
The manipulation of LIBOR (London Interbank O ered Rate) and other issues around the interbank o er rates have led to their replacement by overnight rates. Some interbank o ered rates ceased at the end of 2021. Thus, this thesis is devoted to observing their behavior, estimating their drivers, and comparing them. For analysis of the rates' drivers is used ARIMAX model, which is an ARIMA model extended by exogenous variables. The possible drivers are indexes, which indicate volatility, sensibility, financial stress, and liquidity. Among key findings of this thesis are that the European IBOR rates are more prone to market volatility, which explains the impact of the European stock index. Furthermore, Bloomberg's indexes of financial condition are a good indicator for both European IBOR rates as well as British pound LIBOR and SONIA. In the US, USD LIBOR reacts to a liquidity index, while SOFR to the volatility in the market. JEL Classification F33, F37, G15, G2 Keywords interbank rates, transition, financial conditions index, LIBOR Title The transition from IBORs to new benchmarks
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Comparison of criminal behaviour development in the CR with trends in rich countries
Pokorný, Petr ; Cahlík, Tomáš (advisor) ; Polák, Petr (referee)
This bachelor thesis explores crime development in rich countries and compares it with crime development in the Czech Republic. The aim of this bachelor thesis is to statistically verify thoughts discussed in The Economist magazine about the downward trend in crime development in rich countries. In the first part of the thesis, terms related to crime are defined. Subsequently, rich countries are deter- mined. In the second part, the crime development in the rich countries is explored through a fixed effect model estimation of panel data. In the third part, crime de- velopment in the Czech Republic is analyzed by using a simple regression model and an autoregressive model. In the final part of the bachelor thesis, an econometric model analyzes factors that generally affect crime, especially wealth of countries. The arguments about the downward trend in crime development in rich countries are supported by statistical examination. 1
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Analysis of meat demand in the Czech Republic
Dlasková, Karolína ; Ščasný, Milan (advisor) ; Polák, Petr (referee)
Meat and meat products form the highest share of Czech household expenditures for food. This thesis offers a complex view on the Czech meat market and studies in detail the determinants of meat demand. A review of the most frequently used demand models is included, from which the least squares log-log model is used for empirical analysis. The core of this thesis is the estimation of price and income elasticities of demand for various types of meat based on statistical data of household accounts from the years 2000 - 2012. The estimates are, with the exception of the price elasticity for beef, which equals 0.13, consistent with previous studies. Within the examined period, households manifest unitary income elasticity and own price elasticity of demand for meat equal to -1.2. The temporal evolution of elasticities varies for different types of meat. Important socio-demographical aspects influencing the demand for meat, such as age, education, whether the household is led by a female, and others, are also analysed.
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Meta-Analysis in Economics: Application to Measuring the Euro's Trade Effect
Polák, Petr ; Havránek, Tomáš (advisor) ; Havránková, Zuzana (referee)
Meta-analysis is a very strong and effective tool designed for the synthesis of results of empirical research. It provides a possibility to make reliable conclusions and offers more systematic and unbiased view at empirical studies than do narrative reviews. This thesis begins with description of meta-analysis from the theoretical point of view and, therefore, is the first Czech-written methodology of modern meta-analysis suitable for economics. This part is followed by an applied meta-analysis that investigates the euro effect on common trade exchange, and the analysis is focused on publication bias and the use of the multilevel random effects model. The empirical part is based on 2580 estimates gathered from 33 studies that investigate the relationship between euro and trade volume. The meta-analysis reveals the presence of publication bias, confirms the economic research cycle hypothesis and estimates, according to the available literature, that the true Rose effect lies probably between 2 and 6 percent.
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