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Macroeconomic consequences of Covid-19 and the role of stabilisation policies
Karhánek, Tomáš ; Holub, Tomáš (advisor) ; Baxa, Jaromír (referee)
The thesis applies panel data analyses supported by vast stream of empirical literature with aim to capture and quantify effects of the monetary and fiscal stabilization policies on the macroeconomic indicators during COVID-19 pandemic, while also comparing effects of UMP and CMP monetary regimes. The results show that both the monetary and fiscal stabilization policies had positive and statistically significant impact on the real GDP growth. On the other hand, the effect of the stabilization policies did not have significant effect on the inflation during 2020-2021. The thesis also presents a small subsample of forecasting utilizing properties of VECM and comparing recovery paths of 3 European countries with different monetary regimes. We also conclude that there is no significant difference between monetary regimes utilizing UMP or CMP in terms of effectivity of the GDP growth stimulus and recovery paths of the macroeconomic indicators. Furthermore, we have concluded that the GDP sectoral composition played an important role in the economic impact on the country as countries with larger share of services suffered larger decrease of the real GDP and countries with large industrial sector faced higher inflation due to supply chain disturbtion. JEL Classification E52, E31, E470, H51, H68, H61...
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Lottery Premium in Video Gaming Environment
Karhánek, Tomáš ; Šoltés, Michal (advisor) ; Pertold-Gebicka, Barbara (referee)
Gambling, as well as many traditionally physical forms of entertainment, has become popular in a digital form. In the recent years it has found its way to video games. In the environment the gambling element is represented by so called loot box, virtual vessel containing random digital rewards that are in most cases purchasable strictly for real world currency. The writer hypothesizes an existence of a variable, lottery premium, that can help him well explain the decision making process of gambling participants in this environment. The author collects data from the loot box buyers to help him determine the other significant factors influencing the amount of money spent on loot boxes. Using OLS regression he estimates the size and direction of effects of mentioned variables as well as their significance. The lottery premium variable is determined as a significant in terms of the amount spent. Therefore, the author performs a second OLS regression to determine factors influencing size of the lottery premium. The significant variables influencing the amount spent are: age, participation in risk involving activities, searching for the odds of the loot boxes, amount of friends that purchase loot boxes as well, the value of the most expensive item ever received from the loot box, disposable income and...
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