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The Effect of University Education on Employment in the Visegrad Group
Karolík, Richard ; Cahlík, Tomáš (advisor) ; Troch, Tomáš (referee)
This thesis investigates the effect of university education on employability in the Visegrad group countries. Education as a part of human capital plays a relevant role in the labour economics. Data from the sixth round of the European Social Survey are applied to this research. The study is divided into three parts. The first part examines the impact of achieving a university degree on employability in the whole Visegrad region. The second part focuses on comparing the effect of completing university education across individual countries of the Visegrad region. The last third part studies the additional value of completing different levels of tertiary education. Results suggest that the correlation between the level of education and the probability of being employed is positive. Those who has completed university education have eighty-seven percent higher chance to be employed, in comparison with those who has completed only secondary education. The most significant difference in employability was detected in Poland and least significant in the Czech Republic. The impact of the additional level of tertiary education on the employability is higher but appears to be diminishing with higher degree. Keywords Higher education, Tertiary education, The Visegrad group, University, employment, Bach- elor's...
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Spatial approaches to hedonic modelling of housing market: Prague case
Lipán, Marek ; Křehlík, Tomáš (advisor) ; Troch, Tomáš (referee)
Having at hands instruments capable of effective housing appraisal can be essential not only for the real property evaluator in a bank, policy maker or real estate agent, but also for single individual seeking for an objective way to assess the tenure choice decisions. The housing market data are of a spatial nature. We address the spatial issues by implementing spatial modelling techniques into a hedonic price model. The main focus of the thesis is put on building a kriging model, which shows to be a powerful tool in explaining and predicting the prices of housing in the Prague at market. The kriging model comes out the best from the comparison of performance with the traditional spaceless hedonic pricing model as well as the common econometric spatial models. The usefulness of our kriging model is demonstrated in a possible application as the extension of the net present value model of the optimal tenure choice for a prospective first home owner. In a simplified economic scenario we found that the optimality of the tenure choice depends on the inflation, expected holding period as well as the precise location of the flat in the Prague.
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The Effect of University Education on Employment in the Visegrad Group
Karolík, Richard ; Cahlík, Tomáš (advisor) ; Troch, Tomáš (referee)
This thesis investigates the effect of university education on employability in the Visegrad group countries. Education as a part of human capital plays a relevant role in the labour economics. Data from the sixth round of the European Social Survey are applied to this research. The study is divided into three parts. The first part examines the impact of achieving a university degree on employability in the whole Visegrad region. The second part focuses on comparing the effect of completing university education across individual countries of the Visegrad region. The last third part studies the additional value of completing different levels of tertiary education. Results suggest that the correlation between the level of education and the probability of being employed is positive. Those who has completed university education have eighty-seven percent higher chance to be employed, in comparison with those who has completed only secondary education. The most significant difference in employability was detected in Poland and least significant in the Czech Republic. The impact of the additional level of tertiary education on the employability is higher but appears to be diminishing with higher degree. Keywords Higher education, Tertiary education, The Visegrad group, University, employment, Bach- elor's...
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An alternative view on Czech banking sector's riskiness
Kubeš, Jan ; Teplý, Petr (advisor) ; Troch, Tomáš (referee)
Riskiness of Czech banking sector is subject of interest of this thesis. Since the beginning of 21st century, there is moderately growing number of banks and their overall profitability expressed in absolute values is increasing. Ratio of non-performing loans to total loans is also displaying optimistic values. Four indicators of riskiness are studied through data about Czech banks from 2008 to 2015. These indicators are: z-score, leverage ratio, RWA density and ratio of non- performing loans to total loans. Rather low correlations among these indicators are found, the highest correlation (0,670) is between leverage ratio and RWA density, on the other hand the lowest one (0,093) is between z-score and NPL ratio. In aggregate form are three of the indicators displaying stable trend to lower riskiness in 2008-2015 period, the same can be stated about NPL ratio in 2010-2015 period. Then is regression analysis employing fixed effects estimation and random effects estimation used, with the aim to identify determinants of the four indicators. Size of banks expressed in logarithm of total assets is significant in only one model with RWA density on the place of dependent variable. This significance is at 10 per cent level and corresponding coefficient is negative. In contrary, growth of assets and dummy...
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On the Nature of Gender Differences in Attitudes to Risk
Sýkora, Zdeněk ; Cingl, Lubomír (advisor) ; Troch, Tomáš (referee)
Despite a number of studies demonstrating that women are more risk averse than men, this strong consensus has recently been questioned. In this thesis we discuss what may be the reason for such contradicting outcomes. Firstly, we describe the most common elicitation methods and compare them from the perspective of reporting gender differences in risk attitudes. We also summarize current literature in the topic. Then we describe a design and analyze original dataset from a survey experiment conducted with university students, mainly investigating responses to a general risk question. We examine the role of variables that are different between genders and can explain risk preferences to see whether the gender difference is robust. We further focus on different dimensions of risk: we ask about risk taking in driving, financial, sports, career, and health domains. Our findings show that the gender differences in risk preferences are significant, ubiquitous, and can be detected by a simple survey measure, even after controlling for additional characteristics that are known to play role in attitudes to risk and differ between men and women. This applies for all studied domains except for the health one.
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Spatial approaches to hedonic modelling of housing market: Prague case
Lipán, Marek ; Křehlík, Tomáš (advisor) ; Troch, Tomáš (referee)
Having at hands instruments capable of effective housing appraisal can be essential not only for the real property evaluator in a bank, policy maker or real estate agent, but also for single individual seeking for an objective way to assess the tenure choice decisions. The housing market data are of a spatial nature. We address the spatial issues by implementing spatial modelling techniques into a hedonic price model. The main focus of the thesis is put on building a kriging model, which shows to be a powerful tool in explaining and predicting the prices of housing in the Prague at market. The kriging model comes out the best from the comparison of performance with the traditional spaceless hedonic pricing model as well as the common econometric spatial models. The usefulness of our kriging model is demonstrated in a possible application as the extension of the net present value model of the optimal tenure choice for a prospective first home owner. In a simplified economic scenario we found that the optimality of the tenure choice depends on the inflation, expected holding period as well as the precise location of the flat in the Prague.
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Wealth inequality in dynamic stochastic general equilibrium models
Troch, Tomáš ; Stráský, Josef (advisor) ; Gregor, Martin (referee)
in English In my diploma thesis I propose a dynamic stochastic general equilibrium model to describe economic inequality. The model combines two approaches that were traditionally used to model inequality - first, it features two classes of agents that differ in their ownership of capital and second, each class consists of heterogeneous agents who are subject to uninsurable idiosyncratic shocks. This combination allows the two classes to behave in a fundamentally different way while maintaining the individual character of agents in the economy - a feature that has not been modeled before but which adequately describes the empirical reality. I show that the model with classical RBC structure and a single wage underestimates the observed inequality. When the wage differential is introduced through different taxation of the two classes, the model matches empirical inequality much better. Further I argue that the government can significantly reduce inequality at a relatively small cost in terms of output lost. Finally using Theil coefficient decomposition, I show how much of the total inequality is attributable to between-class and within-class inequalities.
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Involuntary unemployment: critical analysis
Troch, Tomáš ; Flek, Vladislav (advisor) ; Rippel, Milan (referee)
Most of the existing empirical literature on the nature of unemployment agrees that unemployment is an involuntary phenomenon. In my bachelor theses I challenge that assertion and recommend taking a more agnostic position regarding the subject. I examine the empirical approach to the problem by formulating the complete form of logical inference about involuntary unemployment. The inference has three premises. The first one is philosophical and has a form of an ethical rule, the second one is psychological and deals with the theory of happiness and the last one is econometrical and uses the estimation of the relationship between unemployment and happiness. I systematically examine them, show their weak points and argue that each of them is problematic and in the current situation we should refrain from accepting them, which implies that the conclusion regarding the nature of unemployment remains open. I also suggest how we can improve some of the premises to make them more realistic. In the last part of my theses I review the existing empirical literature and summarize their conclusions regarding the relationship between happiness and unemployment.
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