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Essays on Individual Perceptions of Economic Reforms
Popova, Olga ; Lízal, Lubomír (vedoucí práce) ; Filer, Randall (oponent) ; Kahanec, Martin (oponent)
Ekonomie štěstí je relativně nový obor, který upoutává pozornost výzkumníků v mnohavědeckých oblastech. Ekonomie štěstí zkoumá vztahy mezi různými aspekty jednotliveho života a individuálním blahobytem. V této oblasti spokojenost se životem je často používána jako indicator úrovně individuálního blahobytu.Subjektivní údaje mohou poskytnout smysluplné informace o různých aspektech individuálního života, ale jejich užitečnost pro účely hospodářské politiky je stale podhodnocena.V této disertační práci se zabývám několika náměty. První námét se týká dopadu objektivné a vnímané korupce na volební chování a výsledky hlasování. Předmětem druhěho námětu je vliv ekonomických reforem na spokojenost se životem nábožensky a nenábožensky založených lidí. Ve tretím namětu se jedná o hodnocení dopadu zavedení euro měny na lidsko uspokojenost. První kapitola disertační práce obsahuje stadium vlivu regionálních rozdilů v rozměrech korupce na chování voličů s různými zaměstnaneckymi poměry a na výsledky hlasování. Pro tento ůčel jsou použita data z voleb do ruského parlamentu (StátníDumy) v letech 1999 a 2003. Konstruovaný model ve formě system rovnic SUR bere v úvahu specifické rysy ruského volebního uspořádání. V analýze je bran ohled na rozdíl mezi objektivnou a vnímanou korupcí ve studio dopadu korupce na...
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Essays in Applied Microeconomics: School Admission Mechanisms and Corporate Bankrupcy
Knot, Ondřej ; Roland, Gérard (vedoucí práce) ; Švejnar, Jan (oponent) ; Filer, Randall (oponent)
In my dissertation, I address two topics in applied microeconomics. First two chapters deal with the functioning of school admission mechanisms and their affects on student school choice behavior. Third chapter deals with the question of optimal bankruptcy law design. Pupil-school matching mechanisms play a critical role in the schooling system. They affect the behavior of students and-through the information they convey-also the behavior of the schools and the authorities responsible for education policy. In the first chapter (joint with Daniel Münich), using a computational simulation model, we analyze the functioning of an admission scheme used in the Czech Republic as a prototype of decentralized, ability-based admission schemes widely used in the world to assign pupils to upper-secondary schools. Our findings show large incidence of strategic misrepresentation of school preferences among applicants, large differences between revealed and trued demand, and large incidence of justified envy in the resulting matching. We point out several implication this could have for functioning of schooling systems. In the second chapter, I empirically study the behavior of students under the Czech pupil-school matching mechanism. Using district-level data on demand for public gymnasia, I find significant evidence...
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Essays on Stock Market Integration and on the Curse of Natural Resources
Černý, Alexandr ; Filer, Randall (vedoucí práce) ; Gylfason, Thorvaldur (oponent) ; Podpiera, Richard (oponent)
The thesis contains three essays, each of which calls into question generally accepted empirical results through the use of more appropriate data or econometric techniques. In the first essay using a unique dataset covering two years of high frequency data on the indices from markets in the U.S., London, Frankfurt, Paris, Warsaw, Prague, and Budapest I perform Cointegration and Granger causality tests with data of frequencies ranging from 5 minutes to 1 day. The aim is to describe the time structure in which markets react to the information revealed in prices on other markets. The results suggest that the speed of information transmission is very fast and that the use of daily data may be misleading when analyzing the issues of stock market integration and information transmission among markets. The other two essays focus on the curse of natural resources. In the second essay I test the robustness of the curse of natural resources with respect to various measures of the quality of democracy and regime stability. I also employ smoothed least trimmed squares, a robust estimation procedure, to estimate the curse. The often stressed robustness of the curse of natural resources is confirmed. The evidence presented indicates that the intensity of the curse depends on the level of civil liberties. In the...
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Three Essays on the Effect of Alternative Ownership Structures on Investment and Financial Constraints: An Empirical Investigation
Hobdari, Bersant ; Filer, Randall (vedoucí práce) ; Maksimovic, Vojislav (oponent) ; Janda, Karel (oponent)
Three Essays on the Effect of Alternative Ownership Structures on Investment and Financial Constraints: An Empirical Investigation This dissertation consists of three separate papers examining the relationship between investment, financial constraints and ownership structures. In the first paper new and rich panel data for a large and representative sample of firms are used to estimate the sensitivity of access to capital to differing ownership structures. The investment behaviour of firms is examined in a dynamic setting in the presence of adjustment costs, liquidity constraints and imperfect competition. The empirical work is based on the derivation of Euler equations in the presence of symmetric and quadratic adjustment costs and both debt and equity constraints. Whereas the norm is to use ad hoc approaches to model these constraints, our alternative and more consistent approach leads to the inclusion of financial variables in the investment equation in first differences rather than in levels. The GMM estimates confirm the importance of financial factors in determining investment rates and suggest that firms owned by insiders, especially non-managerial employees, are more prone to be liquidity constrained than are others. Among the other groups, somewhat surprisingly, only domestic outsider owned firms...
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