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Economics of family
Sivková, Olga ; Mlčoch, Lubomír (advisor) ; Kameníček, Jiří (referee)
Family is concerned as the oldest institution of human society, which has occurred in all known cultures around the world and which reflects the contemporary development of society. The changes in this institution that revealed in all developed economies in 20th century (family size reduced, low level of fertility, higher age at the first marriage, high divorce rate, cohabitation, etc.) arouse the interest in family in all socio-scientific disciplines, economics not excluded. Family is important economic agent on the market as consumer and supplier of work as well as provider of human and social capital and positive externalities. This thesis concerns about the family economics from perspective of family development and its relationship to the market economy. It introduces the basic economics models in economics and family policy related to the current development in the Czech Republic. The part of the thesis is also devoted to the form of financial support to Czech families via social security system and via tax policy. The basic data analysis available on family accounts from the Czech Statistical Office and population development in the Czech Republic is also involved. Keywords: Family, family economics, market economy, family policy in the Czech Republic
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State capture as market distortion: Effect of political connections in the Czech Republic
Špolc, Martin ; Vacek, Pavel (advisor) ; Kameníček, Jiří (referee)
Politically connected firms may extract rent which significantly improves their financial performance, but with social costs to others in form of market distortions. The thesis presents the first empirical analysis of personal political connections to government ministers in the Czech Republic. We estimated value of political connections and inspected subsidies and public procurements allocation as channels of rent extraction on firm-level data set of 1993-2015 period. For both approaches, cross-section regressions and dynamic matching on covariates and propensity score, we found that connected firms significantly underperform their similar rivals, but slightly improve their performance over the time of connection to minister in office. Connected firms gain significantly more subsidies which confirms subsidy allocation as a channel of rent extraction. We interpret our results that firms may seek political connections as the last option how to improve their bad financial results and remain on the market. Biased subsidy allocation to connected firms in sectors where firms are dependent on subsidies like agriculture creates market distortions and could lead to significant consumer harm.
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Behavioral finance explaining excessive volatility of returns on financial instruments
Křížková, Šárka ; Kameníček, Jiří (advisor) ; Hayat, Arshad (referee)
The main focus of this thesis is to comprehensively describe the area of research called Behavioral finance and to point out a theory which has existed over 30 years but it is still not further developed: the Prospect theory. It has an application in many areas including finance - the major of this work. The thesis analyses the volatility of returns on futures contracts on cotton, crude oil and S&P 500 index using ARCH type models. The analysis confirms an asymmetric leverage effect of returns on volatility of all of the three contracts which corroborates a loss aversion in the decision making of investors, one of the main features of Prospect theory. On the other hand a measure of investor sentiment defined using open interest information incorporated in the model to directly capture investors reactions proved to be a weak tool. Powered by TCPDF (www.tcpdf.org)
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Analyzing the integration of migrants in the Eurozone: lessons for the EU integration
De Luna Gallardo, Gustavo ; Strielkowski, Wadim (advisor) ; Kameníček, Jiří (referee)
Charles University in Prague Faculty of Social Sciences Institute of Economic Studies Bibliographic Record of a an Academic Thesis Title in the language of the thesis (as recorded in SIS) Analyzing the integration of migrants in the Eurozone: lessons for the EU integration Subtitle Translation of the title into English/Czech (as recorded in SIS) Type of the Thesis Master's thesis Author: Gustavo De Luna Gallardo Year 2014 Advisor of the thesis Dr. Wadim Strielkowski, Ph.D. Number of pages 119 Awards Specialization Abstract in Czech Abstract in English Since European Union enables free mobility between its Members States, certain EU countries have become attractive destinations because of the working conditions and/or employment opportunities. As a result, some EU nations have experienced the inflow of large amount of immigrants and disturbances on their labor markets. With regard to this, the concept of Immigration Surplus that proposes that phenomenon of immigration can trigger a process of redistribution of wealth that could enhance the level of production and increase the national income can be applied for analyzing these processes. In addition, research literature suggests that deeper integration of immigrants into host countries can lead to higher levels of economic success. Thus, high levels of...
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Inter-industry Wage Differentials in the Czech Republic
Hofman, Stanislav ; Flek, Vladislav (advisor) ; Kameníček, Jiří (referee)
This thesis examines inter-industry wage differentials in the Czech Republic, using the European Union - Statistics on Income and Living (EU-SILC 2009) survey as its primary data source. Findings show that, even after controlling for the large number of workers and jobs characteristics, wage differences based on industry affiliation still persist. The variation among inter-industry wage differentials amount to approximately 5 percent, with a maximum wage level difference of 25 percent between the financial sector and agriculture. By applying two distinct methodologies, we tested the hypothesis that the inter-industry wage differentials are actually caused by a higher concentration of workers with better unmeasured abilities in higher-paying industries. Neither of the two methods rejected the unobserved ability hypothesis. Finally, our analysis also shows that the inter-industry wage differentials can be, to a certain extent, attributed to rent-sharing and different labour turnover costs across sectors.
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Inter-industry Wage Differentials in the Czech Republic
Hofman, Stanislav ; Flek, Vladislav (advisor) ; Kameníček, Jiří (referee)
This thesis examines inter-industry wage differentials in the Czech Republic, using the European Union - Statistics on Income and Living (EU-SILC 2009) survey as our primary data source. Findings show that even after controlling for large number of workers and jobs characteristics wage differences based on industry affiliation still persist. The variation of the inter-industry wage differentials amounts to approximately 5 percent with the maximum wage level difference of 25 percent between the financial sector and agriculture. By applying two distinct methodologies we tested the hypothesis that the inter-industry wage differentials are actually caused by higher concentration of workers with better unmeasured abilities in higher-paying industries. Neither of the two methods rejected the unobserved ability hypothesis. Finally, our analysis also shows that the inter-industry wage differentials can be to a certain extent attributed to rent-sharing and different labour turnover costs across sectors.
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Is it worthy to invest in our own human capital in the Czech Republic?
Čepeláková, Lenka ; Kameníček, Jiří (advisor) ; Polyák, Oliver (referee)
i Title: Is it worthy to invest in our own human capital in the Czech Republic? Author: Lenka Čepeláková Department: Institute of Economic Studies Supervisor: PhDr. Jiří Kameníček, CSc. Supervisor's e-mail address: kameni@fsv.cuni.cz Abstract: The main objective of the thesis is to assess the investment in hu- man capital and its usage for employees and employers. Regarding the economic principles of Gary Becker, the paper tries to prove financial and non-financial benefits resulting from higher education in comparison with basic and secon- dary education. In essence, it analyzes the educational system in the Czech Republic, the theory of investment in human capital, costs and benefits of higher education and it determines the rate of return on education. The reader is supposed to obtain a fundamental orientation concerning this issue, inclu- ding the economic justification of the requirement to reach the highest possible education as a way to succeed on the labor market. Keywords: Human capital, investments, rate of return to investment in edu- cation, wages, higher education Length of the thesis: 85 472 chars.
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