National Repository of Grey Literature 58 records found  1 - 10nextend  jump to record: Search took 0.00 seconds. 
Essays in Applied Meta-Analysis
Polák, Petr ; Havránek, Tomáš (advisor) ; Pugh, Geoff (referee) ; Rusnák, Marek (referee) ; Reed, William Robert (referee)
The dissertation consists of three papers presenting applications of meta-analysis in economics and introductory chapter which discusses the development of meta-analysis in author's perspective as well as strengths and weaknesses of this quantitative method to synthesize empirical research. In the first paper analyses the impact of information and communication technology investments on productivity. The second paper focuses on the trade effect of the euro. In the third investigates the relation between international trade flows and trade costs.
Real estate price modelling with a focus on location attributes
Charvát, Ondřej ; Polák, Petr (advisor) ; Hejlová, Hana (referee)
The thesis introduces several methods of real estate price modelling suitable either for prediction of the housing prices or for exploring the relationships between the price and its determinants. We compared the conventional linear regression approach to the tree-based methods of machine learning. The comparison analysis on the dataset of 28 019 apartments in Prague suggests that regression trees (especially the Random forest) yield a higher accuracy in the price prediction. Another objective was to examine the effects of location attributes (especially its accessibility and environmental quality) on the prices of nearby apartments. To address the spatial interactions in the geographical data, we employed three spatially conscious models to achieve more reliable results. The local analysis performed with the geographically weighted regression confirmed the presence of spatial heterogeneity and described the price effects relative to the location. In some areas, an increase of 100 meters in distance from the nearest metro station and the nearest park are associated with a decrease in the apartment prices by 644 CZK/m2 and 916 CZK/m2 , respectively. These findings are especially important for the apartments near the stations of the new metro line, which is currently in construction.
Risks to Financial Stability in the Low Interest Rate Environment and its Housing Market Implications: CE Region Study
Meti, Elvira ; Geršl, Adam (advisor) ; Polák, Petr (referee)
iv Abstract The current state of the prolonged low interest rate environment may pose a great threat to the soundness of the financial system both in the eurozone countries as well as in the neighboring regions, such as in countries of Central Europe due to high interconnectedness of markets. Some of the recently identified risks of the low interest rate environment are a notable pickup in mortgage lending and house prices, and deterioration of profitability among banks. We study these channels for the Czech Republic, Hungary and Poland, investigating the impact of the imported ECB monetary policy on local (hos countries) during 2004Q4-2019Q4. Our findings suggest that house prices are further driven by low interest rates, and the effect is lagged by two quarters as looser monetary conditions need time to impact our dependant variables. Furthermore, a decrease in the mortgage rate increases mortgage lending in these countries. Lastly, in our study of 27 banks during 2004-2015, we find that ROAA declines by approximately by 17.8 %, given a one percent increase in the 3-month EURIBOR. Keywords low interest rates, EURIBOR, financial soundness, GMM, residential property, mortgages Author's e-mail Supervisor's e-mail
What is My Car Worth? Hedonic Price Analysis of the German Used Car Market
Doležalová, Radka ; Polák, Petr (advisor) ; Červinka, Michal (referee)
Valuation of used cars, affected by various technical attributes and information asymmetry, is the key objective of all agents operating on the automobile mar- ket. This thesis, focusing on a hedonic price analysis, aims to determine basic as well as additional attributes as determinants of a used car market price. In addition, the analysis sheds light upon novel attributes (service records, cigarette smoke pollution of a vehicle interior, selling channel factor in the e- commerce environment, and a German geographical division). The hedonic price research uses the unique data sample of the German used car market, extracted from the database of the e-commerce platform AutoScout24 com- prised of almost 51 thousand vehicles and 57 attributes. The model selection is specified by the incorporation of the Bayesian model averaging approach. The research proves the complexity of a valuation of a used vehicle in a term of a substantial number of relevant variables. The most interesting innovative conclusions are non-significant effect of selling channels and small local price differences among two German regions. Remarkable are also the significant effect of the status of previous owners, bodywork colour, and smoke pollution. The estimated vehicle lifespan of 10 years shows that cars have shorter than...
Analysis of investor's portfolio diversification on the Czech peer-to-peer market
Juračková, Martina ; Polák, Petr (advisor) ; Čech, František (referee)
This thesis deals with the topic of peer-to-peer lending. Using the data provided by the Czech platform Zonky, we study the behaviour of investors on the peer-to-peer lending market. This paper aims to determine whether the demographic factors of investor and the structure of his portfolio have a significant impact on portfolio performance. Based on the quantity invested, a sample of "small" investors (with the quantity invested from 10 000 CZK to 50 000 CZK) and "big" investors (with the invested volume exceeding 1 000 000 CZK) was chosen. Those contrasting samples were analysed. It was discovered that several factors affect portfolio performance. In terms of the portfolio's structure, the size of the share invested in loans with very low and medium risk level and to borrowers from Prague was determined as significant. This is a common feature of both samples. On the other hand, compared to "big" investors, in the case of "small" investors, more variables were estimated as significant. This implies that the performance of a portfolio with lower amount invested is probably more sensitive to various loan's characteristics. These findings are partially consistent with the results of similar papers conducted in the Czech Republic or abroad.
Evolution of housing prices and its determinants in CEE
Šedivý, Jakub ; Polák, Petr (advisor) ; Pečená, Magda (referee)
As housing is one of the important parts of gross domestic product and one of the most significant components of people's wealth it is vital to investigate the determinants of its prices. Therefore, we analyze housing prices in Central and Eastern European coun- tries using pooled mean group estimator and vector autoregressive models. The objective of this thesis is to find out whether the fundamentals of housing prices are comparable across different countries and how the shocks in the economy affect housing pricese. For our analysis we used housing prices per square metre, GDP per capita, unemployment rates, 5-year interest rates, harmonised indices of consumer prices and construction cost indices. The conclusions of using pooled mean group estimator suggest that GDP, un- employment, interest rate and HICP indeed significantly affect the housing prices. The results of empirical analysis of individual countries using vector autoregressive model con- clude that shocks in the determinants affect housing prices with lags of 2 to 3 quarters and that the individual countries are driven by slightly different fundamentals.
The Impact of Economic Development on Asset Poverty: Evidence from Slovakia
Lancuchová, Petra ; Polák, Petr (advisor) ; Janský, Petr (referee)
This thesis deals with asset poverty and examines whether current economic development reduces the threat of households falling into asset poverty and whether the gap between poor and rich households is widening. For that pur- pose, we use data obtained from the Slovak HFSC survey, which took place in 2014. Economic development between 2014 and 2019 is simulated using macroeconomic indicators such as inflation, unemployment rate, and others. Besides the OLS method, which shows the effect of examined independent variables on the average value of household assets, we also employ quantile regression to compare the difference in the influence of independent variables on different values of assets. Regression results suggest that, indeed, recent economic development in Slovakia might reduce the risk of asset poverty; how- ever, this does not apply to all households. Economic development seems to be significant primarily for households with a higher value of assets, which may lead to a growing gap between wealthy and poor households. JEL Classification C13, D31, I32, O11 Keywords asset poverty, economic development, poverty measurements, wealth Title The Impact of Economic Development on Asset Poverty: Evidence from Slovakia
Does Language Drive the Crowd? Case of Czech Reward-Based Crowdfunding
Hudcová, Tereza ; Polák, Petr (advisor) ; Schwarz, Jiří (referee)
This thesis analyses the biggest reward-based crowdfunding platform in the Czech Repub- lic using textual tools on uniquely collected microdata. The research question investigates which of the attributes of project campaigns (including the language style of project de- scriptions) have a significant impact on successful funding. Empirical analysis combines results of Bayesian Model Averaging and logistic regression. Results reveal that firstly, language style of project descriptions does not possess any significant predictive power. Secondly, that utilization of a video, size of pledging goal, or the number of contributors have a significant effect on the campaign's success, which is in line with current literature. Thirdly, it has proven to be true that project categorization plays an important role as well. On the contrary, the findings do not imply any causal claims, such as whether those factors persuade contributors to donate money. JEL Classification G23 Keywords crowdfunding, rewards, success determinants, natural language processing Author's e-mail Supervisor's e-mail
Drivers of Success of Insolvency Proceedings in the Czech Republic
Bezuchová, Anna ; Polák, Petr (advisor) ; Cahlík, Tomáš (referee)
This thesis focuses on the insolvency proceedings of natural persons in the Czech Republic with the aim to examine the impact of the debt structure on the probability of being relieved of debts. For this purpose, the linear probability model and the logit model are used. The analyzed dataset consists of 269 insolvency proceedings for which the insolvency petition was filled between 2008 and 2017. We found that the debtor with a higher share of nonbank debt has a higher probability of being relieved of debts than the debtor with a higher share of bank debt. Moreover, the number of kids and the number of creditors negatively affect the probability of being relieved of debts. 1
The Impact of the EU-South Korea Free Trade Agreement on EU's Exports
Czakojová, Kristýna ; Polák, Petr (advisor) ; Vacek, Pavel (referee)
1 Abstract To support exports, the European Union (EU) and South Korea concluded the EU-South Korea free trade agreement (FTA) in 2010. An objective of the FTA was to reduce or remove barriers to international trade. This thesis examines the impact of the FTA on EU's exports. The gravity model of international trade was applied in the study with using the data over the years 2005-2017. The hypothesis was tested using static and dynamic GLS random and fixed effects, static LSDV model and dynamic GMM model. The two-step SYS- GMM model was concluded as a valid estimate. Empirical analysis shows that the exports between the two countries are predicted to be about 13.8 % higher if they have signed the EU-South Korea Free trade agreement, holding other factors fixed. Moreover, a positive impact of GDP and a negative impact of distance on export were detected, as expected.

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14 POLÁK, Petr
4 Polák, Pavel
3 Polák, Peter
1 Polák, Petr,
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