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Multi-country ABM perspective on business cycles and deleveraging crises
Mačejovský, Alexander ; Kukačka, Jiří (advisor) ; Baxa, Jaromír (referee)
Multi-country ABM perspective on business cycles and deleveraging crises Thesis Abstract Alexander Maèejovský August 2, 2022 We contribute to the existing literature on macroeconomic impacts of wage exibility by examining complexly interacting open economies which undergo economic crises characterized by debt-de ation. More generally, con- sideration of complexity of interactions and feedback eects between trading countries in our model also constitutes an interesting contribution to the literature on open economies, which usually utilizes small open economy mo- dels. We utilize multi-country agent-based model with decentralized markets which produces endogenous economic crises characterized by de ation and excessive levels of private debt. We examine scenarios with dierent inter- national trade settings and sizes of countries. We nd that under almost all scenarios, more stable wages have stabilizing macroeconomic eects as demand-driven recovery is faster and smoother than the one driven by incre- ased margins of rms and consequent debt deleveraging. Moreover, if coun- tries with dierent levels of wage exibilities trade with each other, recessions in the country with more exible wages become milder as international trade helps to increase sales of crisis-hit rms without initiating crisis of a similar...
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Comparative Analysis of Indian States
Mačejovský, Alexander ; Cahlík, Tomáš (advisor) ; Irinkov, Pavel (referee)
The crucial role of elementary education for development of individuals and the society can be hardly overrated. Yet in spite of all proclaimed efforts of Indian government focused on achieving universal school enrolment of 6 to 14 years old children, there are still more out-of-school children in India than in any other country in the world. Previous literature dedicated to the problem of elementary education enrolment and retention in India concentrated mainly on the influence of household and individual characteristics on enrolment decisions. The role of school quality received less attention. This thesis aims to bring more light on the effects that supply-side factors have had on enrolment rates in states and union territories of India throughout the 2008/09-2015/16 period. In addition, their impact on progress and retention of students in elementary education is also examined. The findings indicate that investing in building new classrooms or in textbooks incentives has been an effective approach in enhancing the examined outcomes, while factors like small schools or low education of teachers are among problems requiring special attention. Surprisingly, higher number of teachers has no evident positive relation with higher enrolment or retention of students, which might suggest an urgent need for...
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Comparative Analysis of Indian States
Mačejovský, Alexander ; Cahlík, Tomáš (advisor) ; Irinkov, Pavel (referee)
The crucial role of elementary education for development of individuals and the society can be hardly overrated. Yet in spite of all proclaimed efforts of Indian government focused on achieving universal school enrolment of 6 to 14 years old children, there are still more out-of-school children in India than in any other country in the world. Previous literature dedicated to the problem of elementary education enrolment and retention in India concentrated mainly on the influence of household and individual characteristics on enrolment decisions. The role of school quality received less attention. This thesis aims to bring more light on the effects that supply-side factors have had on enrolment rates in states and union territories of India throughout the 2008/09-2015/16 period. In addition, their impact on progress and retention of students in elementary education is also examined. The findings indicate that investing in building new classrooms or in textbooks incentives has been an effective approach in enhancing the examined outcomes, while factors like small schools or low education of teachers are among problems requiring special attention. Surprisingly, higher number of teachers has no evident positive relation with higher enrolment or retention of students, which might suggest an urgent need for...
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