National Repository of Grey Literature 148 records found  1 - 10nextend  jump to record: Search took 0.01 seconds. 
Economic Effects of Germans' Expulsion from Czechoslovakia Revisited
Kafková, Kateřina ; Baxa, Jaromír (advisor) ; Schwarz, Jiří (referee)
Economic Effects of Germans' Expulsion from Czechoslovakia Revisited Author: Bc. Kateřina Kafková Abstract This thesis studies long-run effects that expulsion of Germans from Czechoslovakia after World War II had on the Czech borderlands. Specifically, the thesis tests sensitivity of prior literature's findings by investigating previously not addressed potentially confounding factors - presence of military areas and border zone in the data; heavy air pollution in the North-West Bohemia during the communist regime; and impact of Wild expulsion in the Soviet liberation zone right after the end of World War II. Minor to no effects of these factors are revealed. Therefore, the findings of this thesis are in line with the findings of the existing literature - the expulsion of Germans caused higher unemployment, lower population density, lower employment in high- skilled sectors, and a lower share of population with secondary and tertiary education in the borderlands, when compared to the Czech interior, that lasts until today.
Analyzing the link between Environmental, Social and Governance (ESG) and sovereign bond spreads: an empirical analysis of CEE countries
Guan, Yanqi ; Baxa, Jaromír (advisor) ; Merrino, Serena (referee) ; Jeřábek, Petr (referee)
This study investigates the effects of a country's environmental, social and governance (ESG) performance on sovereign bond spreads in CEE countries. We used both the sovereign bond spreads vis-à-vis the U.S. and bond spreads vis-à-vis Germany. We employed a dynamic panel generalized method of moments model, based on a sample of 10 CEE countries from 2009 to 2018. The analysis reveals that overall, better ESG performance is associated with lower sovereign bond spreads. When looking at bond spreads vis-à-vis the U.S., all three sub-dimensions of ESG are found to have significant negative impacts on sovereign bond spreads. When using bond spreads vis-à-vis Germany, only environmental and governance sides show significant effects. In addition, the results suggest that environmental side has more pronounced economic impacts on sovereign bond spreads than the other two sides in CEE countries.
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...
Feedback effects of non-performing loans in EMU: A Panel VAR Approach
Bezuchová, Anna ; Baxa, Jaromír (advisor) ; Komárek, Luboš (referee)
This thesis investigates long-run feedback e ects between non-performing loans and their determinants in the Economic and Monetary Union countries using a panel VAR method with generalized impulses response functions and lo- cal projections. The results suggest a bi-directional relationship between the non-performing loans and their determinants. The non-performing loans ratio increases after a negative shock in GDP growth, rising unemployment, wors- ened fiscal balance and increasing risk. On the other hand, a positive shock to non-performing loans decreases the unemployment rate, risk and return on assets. Furthermore, we revealed a di erent magnitude of responses to shocks in core and periphery countries of EMU, which proves financial fragmentation. JEL Classification C23, C51, G21, E32, E44 Keywords Non-performing loans, Panel VAR model, EMU, Generalised impulse response functions Title Feedback e ects of non-performing loans in EMU: A Panel VAR Approach
The economic costs of conflict: A case study of the Russo-Ukrainian War
Hamráková, Júlia ; Baxa, Jaromír (advisor) ; Bauer, Michal (referee)
Since 2014, an armed conflict between pro-Russian separatists and the Ukrainian army in Donbas has been causing damage to the society, infrastructure, and eco- nomics of Ukraine. This thesis deals with the conflict in eastern Ukraine and focuses on its economic impact in the period from 2014 to 2020. Using the syn- thetic control method and the augmented synthetic control method, on a country level we evaluate the economic cost of the conflict in terms of the GDP per capita of Ukraine and Russia. On the regional level, we estimate the impact of the con- flict on the GRP per capita of the Luhansk and Donetsk regions. Moreover, we look for evidence of spillover effect on neighbouring Dnipropetrovsk region and Kharkiv region in Ukraine and Krasnodar Krai, Belgorod Oblast, and Rostov Oblast in the Russian Federation. While the results indicate a significant gap in GDP per capita of Ukraine attributable to the war, the negative economic effect on the GDP per capita of the Russian Federation after accounting for the price drop of crude oil in 2014 and 2015 is only minor and too insignificant to interpret it with confidence. The findings further suggest a destroying effect of the conflict on GRP per capita of both Luhansk and Donetsk regions. The spillover effect of the war on neighbouring regional...
Subjective well-being and trust in countries of European Union
Bělostíková, Pavla ; Baxa, Jaromír (advisor) ; Gutiérrez Chvalkovská, Jana (referee)
Subjective well-being and trust in countries of European Union Pavla Bělostíková 2011 Abstract This paper analyzes the relationship between an individual's capacity to trust and their overall satisfaction with life in countries of European Union. It concretely focused on four countries selected Denmark, as the most satisfied country in the world, Spain, Czech Republic and Bulgaria as the less satisfied in European Union. Two kinds of trust were examined: general trust referring to interpersonal trust and institutional trust referring to trust in parliament. The trust in people was concluded as more significant for the overall satisfaction of an individual satisfaction than trust in parliament. For example, higher trust in people makes the general public more satisfied. Furthermore, in Denmark and Spain considered to be wealthier countries with higher reported level of satisfaction and trust, the interpersonal trust as well as institutional have less influence on satisfaction than in the average of EU countries. Key words: happiness, subjective well-being, satisfaction, interpersonal trust, trust in institutions, relative income, Easterlin paradox, aspiration level Consultant: PhDr. Jaromír Baxa
The importance of income on subjective well-being
Sedlář, Jan ; Baxa, Jaromír (advisor) ; Skuhrovec, Jiří (referee)
1 Abstract My Bachelor thesis deals in a comprehensive way with the discussion unleashed by the publication of the Easterlin's article which called attention to more complex relations between the absolute level of income and the subjective well-being than the economic theory would ever assume . There is the literature shown which finds the explanation why the relation - the absolute level of income and the subjective well-being - does not hold without exceptions. A special attention is devoted to the human behaviour: comparison of the individual's situation with the situation of his reference group, comparison of the individual's situation with the situation he was accustomed to in the past, the individual's adaptation to the new situation and change of his aspiration and on the overvaluation of the benefits from the achieved goal. The first characteristic is tested experimentally with use of the analogy: the income as the evaluation of the job performance, the mark as the evaluation of the student. The experiment did not prove that the comparison of the student with his reference group would have the influence on his own performance. The second part of my thesis is focused on the description of the relationship between the gross national income per capita and the satisfaction of the inhabitants from the...
How Much of the Macroeconomic Variation in Ukraine Originates From External Shocks?
Fedorova, Alona ; Baxa, Jaromír (advisor) ; Cahlík, Tomáš (referee)
iv Abstract In this thesis, we investigate the relative importance of foreign shocks in the Ukrainian economy by estimating a small-scale SVAR model with block exogeneity restriction over the period 2003:2 - 2016:12. We find that external shocks from the EU and Russia account for a significant share of the macroeconomic variation in Ukraine. In particular, external shocks account for up to 97 % of variance in Ukraine's output and 85 % in inflation. Remarkably, foreign monetary policy shocks (both from the EU and Russia) account only for a tiny share of variance in all Ukrainian macro variables. Finally, we show that the inclusion of Russia in the 'foreign' block is important to achieve correct model specification. Without accounting for the effects of the Russian economy, Ukrainian variables over-react to shocks originating from the EU. We conclude that the National Bank of Ukraine should closely track external developments to achieve inflation targets. JEL Classification E52, F41, F42 Keywords vector autoregression, foreign shocks, monetary policy, Ukraine Author's e-mail Supervisor's e-mail
Public Procurements as a Corrupting Sector in RBC Model
Paulus, Michal ; Baxa, Jaromír (advisor) ; Gregor, Martin (referee)
The aim of the thesis is to create a RBC model incorporating corrupting sector. The thesis contributes to the few existing DSGE models with corruption by introducing the corrupting sector into the sector of firms and political parties which is regarded as a sector of public procurements where firms bribe politicians for gaining public tenders. This setting is new and is supposed to catch better the phenomenon of political corruption. The model predicts that all shocks that positively affect the economy motivate firms to invest more into the bribes and vice versa. The increase of the overall level of corruption stimulates economy but is leading an economy to the instability. The model also examines the effect of various forms of fiscal spending in the households ' utility function. The model exhibits several non-intuitive results (too high portion of stolen money by firms, stimulation of the economic performance caused by higher corruption and negative holding of government bonds) that should be solved in next research.

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