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Water quality valuation (case study of Máchovo jezero)
Škopková, Hana ; Ščasný, Milan (advisor) ; Kameníček, Jiří (referee)
This thesis estimates the benefits of water quality improvement on Macha Lake using the contingent valuation method. The aim of this thesis is to show the main problems related to the application of the contingent valuation method in general and in the Czech Republic. First, the methodology of contingent valuation is described in detail. Since the case study on Macha Lake deals with the valuation of improvement of eutrophicated water body, the main issues regarding the water quality are discussed with a special focus on the problem of euthrophication. Following part summarizes selected attitudes towards the application of contingent valuation method on freshwater quality in foreign countries. It focuses on studies that value similar hypothetical product as the survey on Macha Lake. Main differences are identified in the attitudes towards the definition of the good to be valued. Based on this summary the survey on Macha Lake is assessed critically. The aim of this survey is to estimate the benefits that the improvement of water quality on Macha Lake presents for the local households. This change is defined as an improvement in water quality by one and by two classes on five-class water quality scale. The structure and organisation of the survey is introduced as well as its parts, outlining the solution of...
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Alternative and renewable energy policy in Europe
Orujov, Faig ; Ščasný, Milan (advisor) ; Střítecký, Vít (referee)
Driven by the fact that the global oil market has become extremely volatile and the EU dependence on oil continues to grow, this paper argues that with more emphasis on renewable energy and by using domestically produced alternative energy sources instead of importing foreign oil the EU Member States would drastically improve their energy security and energy independence. The study investigates both past and present trends in the EU energy sources supply and consumption patterns. Additionally, the paper considers possibilities of the renewable and alternative energy both at the current stage and future development of this sector in the EU. The research findings confirm the initial hypothesis as to whether the share of alternative and renewable energy will be sufficiently large to contribute to solving a problem of the EU energy security and independency. The role of the renewables in national energy security strategies of three EU Member States is studied and government supporting policies that enhance renewable sources development are analyzed.
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Postoje veřejnosti k politikám mitigace změny klimatu
Kyselá, Eva ; Ščasný, Milan (advisor) ; Vávra, Jan (referee) ; Kalvas, František (referee)
Research on public responses to climate change mitigation policies is proliferating. Therefore, a need to critically review the existing research practice arises. Studies published over the last 15 years (n=164) and focusing on public attitudes and responses to climate policies are reviewed in this thesis with respect to a) measures and operational definitions of policy support, acceptability, acceptance, and other types of responses and b) factors related to such responses. A great diversity of measures and measured constructs, frequent lack of theoretical embedding, and conceptual vagueness are currently pervasive in the field. Such state leads to uncertainty of what is being measured, ambiguity, and greater diversity and lower comparability of results. In response to this state, the thesis proposes a construct of policy attitudes and responses as an overarching concept comprising the diversity of measures and constructs already in use, and a theoretical framework, based on the Value- Belief-Norm theory, as a heuristic tool for measurement, analysis, and interpretation of survey results. Additionally, the thesis discusses the interlinkage of public opinion on climate policies and policy-making process to argue the relevance and the role of the reviewed research. Three original studies are part of...
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Hybrid Model for Regulating Carbon
Ashrafullina, Ksenia ; Hrubý, Zdeněk (advisor) ; Ščasný, Milan (referee)
The objective of this dissertation is to review the instruments used to reduce carbon emissions, discuss the emission trading introduced by the European Emission Trading System and tentatively suggest further improvements. We shall look at carbon emissions as a negative externality and explore the theoretical foundations of carbon taxation and cap-and-trade systems as well as their possible interactions, conflicts and synergies. We shall also look at the risks associated with using carbon regulation in the ELI, mainly carbon leakage and lack of international compliance with regulatory mechanisms, especially in the developing countries. On a practical side, we shall focus on the structure and performance of the carbon reduction policies during the three phases - NAP1, NAP2 and NAP3, paying close attention to free allocation and auctioning. Finally we shall discuss risk-reduction methods, focusing on a potential hybrid model combining both cap-and-trade and taxation with a percentage of the revenues redistributed to the developing world to stimulate climate change agenda.
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Transition to a low carbon transport system: including time as a decision factor in transport modal choice
Mrkous, Jan ; Rečka, Lukáš (advisor) ; Ščasný, Milan (referee)
The aim of this bachelor thesis was to analyze the choice of transport modes depending on the value of travel time. For the purpose of this work, I limited the choice of travel modes to trains, buses and cars, as these modes of transport contribute to the transport of the population in the Czech Republic the most. This is a topic that can contribute to the optimization of transport at the national level. Through a robust literature search, I obtained data describing the value of travel time and then used it for modelling in the TIMES software. The model optimized people's use of various modes of transport based on their demands and the value of travel time.
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Environmental Cost-Benefit Analysis: Social Time Discount Rate (or "Pure" Rate of Time Preference) Determination in Social Discounting of Public Projects/Policies in the Czech Republic
Štěpaníková, Šárka ; Ščasný, Milan (advisor) ; Gregor, Martin (referee)
Diploma thesis covers the field of risk management that companies need to deal with when trading on open account. Basis for this research is the question, whether credit risk management positively influences health of a company and whether credit insurance is effective tool when protecting against credit risk. The subject is firstly discussed in the context of current economic crisis and its impact on entrepreneurial environment, companies' payment behaviour and the volume of insolvencies. Further there are characterized types of credit risk, outlined risk management methods and compared selected instruments used for credit risk protection. Attention is devoted particularly to trade credit insurance. Finally effectiveness and actual usefulness of credit insurance is evaluated on selected models and a case study. Presented case study demonstrates a real life insurance contract and quantifies the cost saving resulting from risk protection through trade credit insurance. Keywords: economic crisis, payment behaviour, insolvency, risk management, trade credit insurance
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Emission Trading: Evaluation of the European Experience
Řízková, Markéta ; Ščasný, Milan (advisor) ; Urban, Luděk (referee)
Our aim is to show complex picture and highlight the most discussed features of the emission trading and especially the functioning of the European System of Emission Trading (EU ETS) as a representative of the biggest functioning emission trading system. The key approaches involved in our analysis are both theoretical and practical. In the theoretical section we compare emission trading and environmental taxes and we discuss when it is better to regulate by price and when by quantity instruments. We will discuss the possible allocation methods and especially method of auctioning as the most theoretically preferred allocation method. The practical approach will tackle following two aspects: how the emission allowances have been allocated within the EU ETS in Phase 1 and Phase 2 and what the planned changes are in post 2012. Finally, we will look at the results of allocation versus emission during the first trading period in years 2005-2007 and how it might look in the future in Phase 2 and beyond.
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Investing in Environmental Markets
Tóthová, Zuzana ; Mejstřík, Michal (advisor) ; Ščasný, Milan (referee)
The topic of Environmental Markets remains unexplored by academics not only in the Czech Republic but internationally. It presents a new field of research without a clear terminology. For the purpose of this study we have defined Environmental Markets as a universe of quoted companies which deliver cleaner and more efficient products and services in the energy, water and waste sectors. We have then proceeded with the study of each of the three sub-sectors, their business models and factors that influence their growth. We reviewed the investment vehicles that can enable investors to take advantage of the sectors' growth potential, with a concentration on European environmental mutual funds. We studied their main risk-return characteristics and empirically tested whether they outperformed the general stock market over the last five years. Finally, the potential risks connected to Environmental Markets' investments were addressed.
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Evaluating Economic Policy Using the Synthetic Control Method
Opatrný, Matěj ; Havránek, Tomáš (advisor) ; Ščasný, Milan (referee) ; Tremewan, James (referee) ; Caselli, Francesca G. (referee)
The doctoral thesis consists of three essays that address the application of synthetic control method to various economic policy intervention. In the first essay I evaluate the quantitative effects of the Czech National Bank's commitment to keep the Koruna from appreciating that were put in place in 2013. I find that the commitment helped decrease unemployment substantially. The effect on overall output is also strongly positive, almost 2 percentage points for growth in 2015. The effect of the commitment on inflation is positive but not statistically significant at standard levels. In the second essay I focus on the impact of joining the EU on the Czech agriculture. The results show that the Czech Republic would have had a higher food index if it had not entered the CAM and CAP. Moreover, I show that the CAP and CAM had different impacts on farms in the Czech Republic and Bulgaria, which have the most comparable agriculture according to the results of the synthetic control method. In the final essay I estimate how the UK financial markets would have evolved if the Remain camp had won the referendum. The results suggest that there would not have been any significant change in the development of the FTSE 100 Index in the medium to long term if there had not been a referendum. On the other hand, I...
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