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Expenditures of Public Institutions on Purchase of Goods and Services
Krečmer, Marek ; Skuhrovec, Jiří (advisor) ; Vukelić, Tatjana (referee)
The main goal of this thesis is to analyse the expenditures and public procure- ments of fifteen municipalities and all of the ministries of the Czech Republic during the years 2009-2011. The main core is in analysis of what are the procurable expenditures and what percentage of them is procured through the Information System of Public Procurements ISVZ. The main idea behind this analysis is that every other procurable expenditures not procured through ISVZ could be labeled as non-transparent. Hence, higher the ratio of expenditures procured publicly through the ISVZ, the better is the authority in achieving the good practice. The results of this analysis could be used as a comparative tool between the respective authorities. JEL Classification H50, H51, H52, H53, H57 Keywords Public Procurement, Public Finance, Public Ex- penditures, Public Sector Accounting Author's e-mail krecma@gmail.com Supervisor's e-mail jskuhrovec@gmail.com
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Google Econometrics: Predicting Bond Prices
Krečmer, Marek ; Horváth, Roman (advisor) ; Kočenda, Evžen (referee)
1 Abstract The thesis analysed whether it is possible to improve on time-series forecasting models used to predict prices and volatility of government bonds by adding online search data. Previous research showed that Google trends data are an useful source of an additional information which could improve various fore- casting or nowcasting models. Our research expanded the area into government bonds and tested if the Google trends data could be of any use on this kind of data as well. We have analysed most of the government bond tenors of all the main English speaking countries and the Czech Republic and focused on one-day- ahead forecasting of yields and weighted volatility. To forecast the next day values, we have set up ARIMA-GARCH, GARCH(1,1), AR(1), mean, median and lagged values and compared their performance with the realized values. In addition, we have set-up augmented versions of ARIMA-GARCH, GARCH(1,1) and AR(1) that included online search data. The subsequent findings can be sometimes inconclusive but we have observed quite significant improvements for some of the models and tenors of United States, United Kingdom and Australian government bonds. We have arrived at the conclusion that Google trends data could be used to improve some of the models. It is also possible that the usability depends...
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Expenditures of Public Institutions on Purchase of Goods and Services
Krečmer, Marek ; Skuhrovec, Jiří (advisor) ; Vukelić, Tatjana (referee)
The main goal of this thesis is to analyse the expenditures and public procure- ments of fifteen municipalities and all of the ministries of the Czech Republic during the years 2009-2011. The main core is in analysis of what are the procurable expenditures and what percentage of them is procured through the Information System of Public Procurements ISVZ. The main idea behind this analysis is that every other procurable expenditures not procured through ISVZ could be labeled as non-transparent. Hence, higher the ratio of expenditures procured publicly through the ISVZ, the better is the authority in achieving the good practice. The results of this analysis could be used as a comparative tool between the respective authorities. JEL Classification H50, H51, H52, H53, H57 Keywords Public Procurement, Public Finance, Public Ex- penditures, Public Sector Accounting Author's e-mail krecma@gmail.com Supervisor's e-mail jskuhrovec@gmail.com
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