National Repository of Grey Literature 98 records found  1 - 10nextend  jump to record: Search took 0.01 seconds. 
Zmírňování kognitivních zkreslení: Jak udělat rozhodování v byznyse racionálnější?
Kučera, Tomáš ; Cingl, Lubomír (advisor) ; Potužák, Pavel (referee)
The thesis is concerned with cognitive biases, especially with confirmation bias, and with various approaches to their mitigation. It elaborates on three main categories of debiasing strategies, namely increasing incentives, adjusting the environment in order to avoid or offset the bias, and training people in recognizing the situations in which a bias occurs and in mitigating the effects of the bias. An experiment in which the patterns of information selection and the effects of a debiasing training were investigated is reported. The results show that participants exhibited confirmation bias both in the selection of information and in the information processing, and that debiasing training effectively decreased the level of confirmation bias by 33 % at the 5% significance level. The debiasing training took the form of a short video which included information about confirmation bias and its impact on judgement, and mitigation strategies.
Estimation of the Size of the Shadow Economy in Slovakia
Didič, Michal ; Komrska, Martin (advisor) ; Potužák, Pavel (referee)
This bachelor thesis aims to estimate the size of shadow economy in Slovakia. Methodology is based on works of Hassan and Schneider (2016) and Alexandru, Ion and Catalin (2010). Based on the quarterly data from 1Q/1999 to 4Q/2016, the thesis presents model, which quantifies the size of the shadow economy based on estimation of the amount of currency used in shadow economy. With use of the computed currency and the equation of exchange the size of shadow economy is calculated as percentage of GDP. Analysis shows, that shadow economy in Slovakia during 4Q/2016 reached the size of 9,64 % HDP.
Influence of electronic payments on the size of shadow economy
Vaško, Jindřich ; Frömmel, Tomáš (advisor) ; Potužák, Pavel (referee)
The aim of this bachelor thesis is to analyze the influence of the chosen determinants on the size of the shadow economy in EU countries, particularly investigating the determinant of non-cash payments. According to cross-sectional data 6 econometric models were determined but because of quality requirements it was brought down to 3 econometric models. The determinants used in these models are: non-cash payments, tax and social burden, unemployment rate, and Index of Economic Freedom with its components. The results of these econometric models lead us to discovering that Index of Economic Freedom mainly its component of property rights has a significantly negative impact on the size of gray economy, there is also a negative impact of tax and social burden despite the previous assumption. The impact of non-cash payments is inconsistent.
McCallum´s rule in the Czech Republic
Wolf, Vojtěch ; Potužák, Pavel (advisor) ; Maršál, Aleš (referee)
This thesis examines whether the McCallum´s rule, which targets nominal GDP using the monetary base as its instrument, would be more successful in achieving the goal of smoother path of nominal GDP with inflation staying on target, had it been in place of the actual historical monetary policy in the Czech Republic. To assess the performance of McCallum´s rule, I calculate simulated paths for nominal GDP and money base, using counterfactual simulation method. The results suggest that, compared to the historical monetary policy, the rule would not be able to secure a smoother path of nominal GDP and would bring only a slight improvement in the central bank´s ability to keep average inflation on its target. These results are not convincing enough to support a decision in favor of replacing the current regime of inflation targeting with nominal GDP targeting regime based on McCallum´s rule. Even so, it would be possible to use the rule under the current regime as a benchmark or a monitoring tool for assessing the stance of monetary policy.
Způsobila alkoholová prohibice pokles počtu dopravních nehod spáchaných řidiči pod vlivem alkoholu?
Brabenec, Tomáš ; Montag, Josef (advisor) ; Potužák, Pavel (referee)
This paper tries to find out whether a short ban on sales of liquors reduced the harmful use of alcohol with respect to motor vehicle accidents. I make use of short (two weeks) alcohol prohibition which was imposed by the Ministry of Health Care in the Czech Republic in September 2012 aiming to stop the deadly wave of methanol poisoning. To estimate the effect of prohibition on the number of road traffic accidents, I exploit the methodology of differences-in-differences. I use daily data about traffic accidents from the Czech Republic (treatment group) and from neighboring countries such as Austria, Germany and Poland (control group). The result suggests that there is no significant drop in term of road traffic accidents.
Empirical verification of short-run aggregate supply based on Lucas model and new Keynesian theory
Marošová, Ivana ; Potužák, Pavel (advisor) ; Janíčko, Martin (referee)
The aim of the master thesis is to empirically analyze if there is a support for new classics or new Keynesians as a dominant theory of short-run aggregate supply curve. The analysis is based on dynamic panel data model for 38 countries and period between 1970 and 2014. Because the results show some evidence on negative significance of level of inflation in contrast with its variability, I conclude that there is support for the new Keynesian theory. I focus on examination of the panel data assumptions such as the stationarity of explanatory variables, existence of the individual or random effects, validity of homogeneity of slope coefficients and mainly the cross-sectional dependence of error terms. After testing for these assumptions, I choose the most suitable method of estimation for dynamic panel data models. I use these methods for analyzing both linear and non-linear specification of the given model. As a result, we can see that the selection of right estimation method plays a great role in final outcomes. I also check model robustness by including changes of real oil price as a proxy variable for the supply shock in the economy.
Methods of exchange rate analysis and an application of the equilibrium exchange rate model on selected currencies
Attendorn, Filip ; Potužák, Pavel (advisor) ; Čermáková, Klára (referee)
The thesis deals with the fundamental analysis of exchange rates of CZK/EUR, GBP/EUR and PLN/EUR. First, the validity of uncovered interest rate parity is tested in the empirical part using the method of least squares. The same econometric method is applied for testing of the validity of the relative version of purchasing power parity. The tested theories are rejected based on the outcome of the empirical models. Another part of the study is estimating the equilibrium exchange rate using the vector autoregression model. The data of inflation, real exchange rate, and interest rate of treasury bills are utilized. The model is statistically significant in case of the Czech Republic and Poland. The real exchange rates of these countries have similar deviations from the equilibrium level in the period before the financial crisis and in at the beginning of the crisis. However, for the UK the model is not statistically significant.
An empirical estimate of the pre-crisis Taylor rule of the Fed using real-time data
Mrázek, Martin ; Potužák, Pavel (advisor) ; Kadeřábková, Božena (referee)
This thesis analyses the monetary policy of the Fed in the period before the financial and economic crisis 2007. The aim of this analysis is to investigate whether the monetary policy significantly deviated from the preceding one which, according to John Taylor, adhered to the Taylor rule. This analysis is performed using both revised and real-time data. I compare the monetary policy with various specifications of the Taylor rule. I also estimate a forward-looking Taylor rule. The results confirm the deviation from the Taylor rule. However, deviations were usual in the whole sample period. Estimated models do not indicate that the monetary policy before the crisis was different from the rest of the analyzed period.
Output-Inflation Trade-off After a Quarter of a Century of Inflation Targeting
Kamarád, Martin ; Potužák, Pavel (advisor) ; Kadeřábková, Božena (referee)
This thesis estimates the treatment effect of inflation targeting adoption on inflation, inflation variability, output, and output variability for 25 explicit inflation targeting countries. I implement the propensity score matching methodology that takes into account the problems of non-experimental nature, such as selection bias or selection on observable, and allows me to effectively mimic properties of randomized experiment and compute unbiased treatment effect estimates. I introduce a variety of propensity score matching methods that were recently developed in the treatment effect literature, including Nearest Neighbor, Radius matching, Kernel matching, and Inverse Probability Weighting. The results indicate that both industrial and developing inflation targeting countries exhibit lower inflation levels and at the same time higher output growth than non-targeting countries. The estimates are however in most cases statistically insignificant. Moreover, it appears that both industrial and developing countries achieve combination of lower inflation variability and output variability compared to non-targeting countries. Nonetheless, majority of the estimates are again statistically insignificant. The results are to a small extent sensitive to the choice of propensity score matching method. Radius matching with tight calipers (r=0.005, r=0.001) tends to provide the most reliable estimates. Balancing properties of the models are reasonable and compared to the previous research the standardised biases are quantitatively better.
Maturity mismatching and its impact on the yield curve
Němec, Petr ; Potužák, Pavel (advisor) ; Janíčko, Martin (referee)
This diploma thesis deals with a new discord in the Austrian economic theory about the effects of maturity mismatching practiced by banks on the shape of the yield curve and defines the not yet established concept of the natural yield curve. The conflicting contributions of Austrian authors are compared for that purpose. Based on this comparison, a coherent theory of the effects of maturity mismatching is presented in a framework of the loanable funds market. A definition of the natural yield curve is then produced by a synthesis of the above-mentioned findings and the Austrian theory of the natural rate of interest. Theoretical research leads to the conclusion that one form of maturity mismatching inevitably results in an Austrian business cycle. The empirical section examines the question of yield curve´s behavior under the influence of maturity mismatching. An explanation concerning the selected hypotheses and their lack of confirmation is given.

National Repository of Grey Literature : 98 records found   1 - 10nextend  jump to record:
Interested in being notified about new results for this query?
Subscribe to the RSS feed.