|
|
Genuine progress indicator and other alternative measures of economic development: First estimates for the Czech Republic
Král, Michal ; Janský, Petr (advisor) ; Janotík, Tomáš (referee)
Nowadys when measuring economic development, the main focus is on gross domestic product, which is a measure of market activity. Genuine progress indicator is an alternative measure of economic development, which shifts focus to well-being, environment and sustainability. The main goal of this study is to construct genuine progress indicator for the Czech Republic. In the first part I point out weaknesses of current measurement of economic progress. Then I address other indicators proposed as an alternative measure of economic development. After that I discuss genuine progress indicator in detail and explain its calculation for the Czech Republic. In the last part I discuss results of my computations and compare it with gross domestic product and with foreign calculations of genuine progress indicator. Keywords Genuine progress indicator, measure of well-being, economic development, alternative economic indicator, gross domestic product Author's e-mail 1michal.kral1@seznam.cz Supervisor's e-mail jansky@fsv.cuni.cz
|
|
|
Ideas of hedonism and stoicism implemented in today's world of economy
Djikanovic, Ivana ; Janotík, Tomáš (advisor) ; Eckertová, Eva (referee)
The main motivation for this work was to show that economy cannot be explained just by economy. Many other sciences are essential for understanding economic processes and models of behavior. This paper presents the proven relations between the philosophy, economics and psychology. The study of different economic concepts requires development of an extensive network of connections between humans on the one side, and their social needs and behavior on the other side. The starting point is the return in the time of Ancient Greeks, with whose theoretical approaches can be explained the majority of person's actions. This paper uses theoretical analyses to assess the impact of the "passions and interests", hedonic happiness and stoic self-interest on the economic policy and individuals. Through the gently presented forms of hedonism, this work deals with different theories such as theory of modern consumerism, marginal utilitarianism, preference theory, theory of rational allocation. The data gathered in the form of publication analysis, little psychological experiments and real life examples serve to test the hypothesis of the direct relationship between hedonistic impacts on economic theory. The two research questions are dealing with mastery of passions and interest in the economic behavior as well as with the...
|
|
|
The Introduction of Trusts in the Czech Republic
Jelínek, Tomáš ; Teplý, Petr (advisor) ; Janotík, Tomáš (referee)
Complete recodification of the Czech Civil Code among other changes establishes trusts, a very flexible tool which can be used by both natural and legal persons. Countless possibilities for the utilisation of trusts range from charities through intergenerational transfers of property or pension securitisation to the managing of a corporation and investment activities. The core of this paper is an analysis of three basic elements of trusts: the description of trusts, monitoring and analysing of the contemporary development, and perception of trusts by Czechs. The thesis contains detailed description of rights and duties of the settlor, the trustee and the beneficiary, also compares the Czech and foreign processing and then points out some differences and offers various recommendations. A fully processed questionnaire survey and analysis of the collected data is an integral part of this work. Low literacy about trusts has been discovered and its impact has been assessed. The survey results demonstrate the necessity of establishment of competitive conditions together with fighting negative perceptions towards trusts. The investigation further revealed important as well as unimportant features of trusts to potential settlors. These findings could be significant for the future development in this area....
|
|
| |
|
|
Price Elasticity of Water Demand: A Meta-Analysis
Thoma, Richard ; Havránek, Tomáš (advisor) ; Janotík, Tomáš (referee)
Meta-analysis is a statistical method that allows us to combine results of em- pirical research. A theoretical summary helped to select appropriate model for the empirical part of this thesis - a meta-analysis focused on the price elas- ticity of residential water demand. A mixed-effects multilevel model, which corrects for selection bias, heteroskedasticity and within-study correlation, was employed. Publication bias was found only for subsample excluding data from the western part of the United States. Heckman meta-regression shows that the true price elasticity of water demand is -0,246. Finally variation in results across studies is explained. Using average price instead of margi- nal, the discrete-continuous choice model and data from the western part of the United States for water demand modelling will result in higher values of estimated elasticity. 1
|
|
|
Economic Aspects of Blood Donation
Hanus, Luboš ; Janotík, Tomáš (advisor) ; Kukačka, Jiří (referee)
Sufficient blood supply is a continuous problem for health care systems around the world. The diversity of systems is also manifested as different methods of compensation and motivation of donors. During the last century the different types of compensation and motivation have brought about various high probabilities of transmission of infectious diseases. The goal of this thesis is to provide a sufficient description of donors' motivations in the Czech Republic and elsewhere. The first part aims to compare the risk of financially compensated blood donors and those who are not compensated. The second part gives a description of characteristics of the sample donors from the Institute of Hematology and Blood Transfusion in Prague. A probit model is used to analyse the sensitivity of donors to two benefits provided by the state, these benefits are either a paid working day-off on the day of donation or the possibility of deduction of 2000 CZK from one's taxable income for each donation.
|
|
| |
|
|
Life Cycle and Asset Poverty
Lancuchová, Petra ; Želinský, Tomáš (advisor) ; Janotík, Tomáš (referee)
Poverty is generally defined as a lack of income to meet basic needs. The economic conditions of a household depend except from income also on assets of a household, and so on its real and financial asset holdings. The core of this thesis is to explore how asset holdings influence poverty over the life cycle. In last years, plenty of papers concerning this topic have been published and results of them are similar. This thesis builds on previous researches, but several modifications have been made. In our empirical research, we use the data gained from the Slovak HFCS survey conducted in 2014 to investigate how the asset position of individual or household evolves throughout the life. Besides ordinary least squares method that focuses on the impact of age for the average value of assets, we adopted the method of quantile regression to reveal the differences of age influence on different values of assets. By estimating five models in four variations we discovered that age is not always relevant when determining the values of household assets. The result indicate that age is of importance only from the certain age level. It was also found out that asset position of retired people is better than the asset position of younger people in cases where age significantly affects the given forms of assets.
|
|
|
Youth Unemployment: What Can the Flow Data Tell Us?
Šlegerová, Lenka ; Flek, Vladislav (advisor) ; Janotík, Tomáš (referee)
Youth Unemployment: What Can the Flow Data Tell Us? Author: Lenka Šlegerová Supervisor: doc. Ing. Vladislav Flek, CSc. Academic Year: 2015/2016 Abstract This thesis deals with the dynamics of the Czech labour market, with special emphasis on the youth. The calculations of gross labour market flows and flow transition rates deliver evidence on higher youth labour market dynamics compared to prime-age labour market. The thesis then analyses the driving forces of unemployment rate fluctuations. It explores the concept of steady-state unemployment rate and then focuses on decomposition of fluctuations in the steady-state unemployment rate. In the Czech Republic, the results at the aggregate level suggest that changes in unemployment inflow contribute with considerably higher share to the fluctuations in steady-state unemployment rate than changes in unemployment outflow. In case of the youth steady-state unemployment rate, changes in unemployment inflow account for an even higher share of fluctuations in the steady-state unemployment rate.
|
|
|
Predicting Stock Market Volatility with Google Trends
Pecháček, Jan ; Krištoufek, Ladislav (advisor) ; Janotík, Tomáš (referee)
This thesis aims to investigate the usability of Google Trends data for predicting stock market volatility. Using daily Google data on tickers of three companies with large market capitalization, we examine the causal relationship between Google data and volatility proxy. We employ two common models for volatility, Generalised Autoregressive Conditional Heteroskedasticity model (GARCH) and Heterogeneous Autoregressive model (HAR) and we augment them by adding Google data. We studied the performance of in-sample forecasting and out-sample forecasting. Our results show that Google data Granger-cause stock market volatility and is able to produce more accurate results in in-sample forecasts then models without Google data added.
|
guest ::
