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The Impact of the Macroeconomic Environment on Insurance Companies
Čepeláková, Lenka ; Jakubík, Petr (advisor) ; Brechler, Josef (referee)
i Abstract: This thesis assesses the impact of economic, institutional and demographic factors on the life and non-life gross written premiums of insurance companies. A dynamic panel data regression using the system generalized method of mo- ments is applied on data of 29 European countries collected by EIOPA covering the period from 2005 to 2013. The results reveal that economic and institutio- nal factors drive both life and non-life insurance industry. On the other hand, we cannot confirm that demographic factors are significant determinants of the growth in GWPs. Subsequently, the hypothesis that there are substantial cross-countries differences among the importance of different macroeconomic determinants on the insurance sector development is explored and confirmed. This work shines new light on the development of the quantitative macro- prudential framework used to determine different economic scenarios affecting insurance companies' balance sheets. Moreover, a broader set of panel data and more variables explaining the growth in insurance sector bring new contributi- ons to the current discussion in academic literature.
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Terrorism and market risk assessment
Lacroix, Jean ; Patáková, Magdalena (advisor) ; Brechler, Josef (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) Terrorism and market risk assessment Subtitle Translation of the title into English/Czech (as recorded in SIS) Terrorism and market risk assessment Type of the Thesis Master's thesis Author: Bc. Jean Lacroix Year 2015 Advisor of the thesis Mgr Magdalena Patakova Number of pages 77 Awards Specialization Economics (CFS) Abstract in Czech Abstract in English Terrorist attacks are one of the best examples of fast evolving institutional framework. In that context investors are impacted by a lot of pieces of information in a limited period of time. This disturbs the trading behavior and consequently the distribution of returns on the period following the attack (the information was not predicted and directly affects the investment choices). The present thesis focuses on the risk aspect of such disturbances. If terrorist attacks reshape the distribution of returns, it may modify the risk measures (multivariate and univariate). The particularity of the change in distribution implies that the observed translation into financial measures of risk will not be equal among all indicators. First a distinction exists between univariate...
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Political legislation cycle in the Czech Republic
Brechler, Josef ; Geršl, Adam (advisor) ; Rychetník, Luděk (referee)
There is a wide range of theories that try to explain interactions between politics end economy that are referred as political cycles. Majority of these theories aims at analysis of changes in economic outcomes that are related to elections or other phenomena in the political reality. To induce at least some of these changes it is necessary to alter a country's legislation which leads to emergence of political legislation cycles - changes in legislation activity over time in an electoral term. The aim of this work is to study political legislation cycle in the legislative system of the Czech Republic. Obtained results suggest that elections timing has certain impact on legislation activity. As electoral term matures and upcoming elections are getting closer an increase is observed in the legislation activity.
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Study of links between biogenic VOC emissions and concentration of tropospheric ozone
Zemánková, Kateřina ; Brechler, Josef (advisor) ; Bednář, Jan (referee) ; Braniš, Martin (referee)
Title of dissertation: Study of links between biogenic VOC emissions and concentration of tropospheric ozone Kateřina Zemánková, 2010 Dissertation directed by: doc. RNDr. Josef Brechler, CSc. Dept. of Meteorology and Environment Protection, Faculty of Mathematics and Physics, Charles University in Prague Presented work focuses on influence of volatile organic compounds from biogenic sources on concentration of tropospheric ozone. Volatile organic compounds (VOC) play an important role in the tropospheric chemical system. Together with oxides of nitrogen they form two major components of reactions leading to low-level ozone formation. Volatile organic compounds are emitted into the atmosphere from an- thropogenic as well as from biogenic sources. In global, VOCs from natural sources are approximately ten times higher in magnitude than those of anthropogenic origin. Biogenic VOCs are emitted from various sources among which the forest ecosystems predominate. Group of VOCs of natural origin comprises wide range of chemical com- pounds. Those emitted in highest concentrations are isoprene and group of monoter- penes. Emissions of biogenic VOCs from the area of the Czech Republic have been es- timated based on the high resolution land cover data giving detailed information of sigle tree species...
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Mathematical modelling of air-flow in geometrically complicated areas
Fuka, Vladimír ; Brechler, Josef (advisor) ; Fürst, Jiří (referee) ; Jaňour, Zbyněk (referee)
The Charles University Large-eddy Microscale Model (CLMM) and its application are presented. It is a numerical model for simulation of turbulent flow and dispersion in the planetary boundary layer. CLMM solves the incompressible Navier-Stokes equations in the Boussinesq approximation and describes turbulence using the large eddy simulation. Three applications of the model are presented. In the first case, the model is applied to the stable boundary layer over a flat terrain. The second case presents the simulations of stably stratified flows over obstacles. The last case deals with the dispersion of a hazardous material within an urban canopy. It was performed in the frame of the COST Action ES1006 and uses the Michelstadt flow and dispersion dataset for model validation.
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