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How do people perceive income inequality? A Czech case
Havelková, Kateřina ; Korbel, Václav (advisor) ; Želinský, Tomáš (referee)
The widespread concern that the gap between the rich and the poor is continuously ex- panding prompts the stimulus for further examination. Standard theory suggests that the level of income inequality has a significant effect on policies with redistributive elements. However, empirical studies propose that rather than the actual shape of income distri- bution, individual perceptions of income distribution define the public finance models. Individuals tend to misperceive income inequality, yet there is little evidence regarding the origins of these perception biases. The bachelor thesis examines one of the possible theories that attempt to explain roots of misperceptions. The geographic reference group theory suggests that people project their local findings onto their estimates of overall income inequality. To test this hypothesis, we used the Gini coefficient with respect to country's districts as an explanatory variable and the subjective inequality index (Per- ceived inequality index) as a dependent variable. The empirical findings, nevertheless, provide little support for the geographic reference group theory as all regressions showed a highly insignificant relationship between district inequality and perceived inequality. The evidence suggests that respondents, who live in districts with high...
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Life Cycle and Asset Poverty
Lancuchová, Petra ; Želinský, Tomáš (advisor) ; Janotík, Tomáš (referee)
Poverty is generally defined as a lack of income to meet basic needs. The economic conditions of a household depend except from income also on assets of a household, and so on its real and financial asset holdings. The core of this thesis is to explore how asset holdings influence poverty over the life cycle. In last years, plenty of papers concerning this topic have been published and results of them are similar. This thesis builds on previous researches, but several modifications have been made. In our empirical research, we use the data gained from the Slovak HFCS survey conducted in 2014 to investigate how the asset position of individual or household evolves throughout the life. Besides ordinary least squares method that focuses on the impact of age for the average value of assets, we adopted the method of quantile regression to reveal the differences of age influence on different values of assets. By estimating five models in four variations we discovered that age is not always relevant when determining the values of household assets. The result indicate that age is of importance only from the certain age level. It was also found out that asset position of retired people is better than the asset position of younger people in cases where age significantly affects the given forms of assets.
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Country-by-Country Reporting Data and Profit Shifting of Banks
Bartoňová, Anna ; Janský, Petr (advisor) ; Želinský, Tomáš (referee)
Base erosion and profit shifting is a great concern of governments as well as the misalignment of the taxable income. With recently obtained country-by-country data we can address and measure the profit misalignment of financial institutions for 2014 - 2016. Using apportionment formula, we estimate the common consolidated corporate tax base (CCCTB) of each bank for every country specifically. The CCCTB then corresponds to profit created by real economic activity of a given bank in every country. We then observe the difference between CCCTB and actual taxable income, which determines the size of profit misalignment. We determine that around 30 % of world's income before tax is shifted to jurisdictions without accompanied economic activity. We find out that there is no time trend among the years. We conclude that large economies, such as United Kingdom, France, and Italy suffer more from profit misallocation, however, profit-havens Hong Kong, Ireland, or Luxembourg take advantage of the current system. We see that the Netherlands and Switzerland, which are usually considered to be tax havens, are with regard to bank industry, currently understating their income compared to the real economic activity in these countries.
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Local Development and Policies of Protectionism
Bělohradský, Aleš ; Benáček, Vladimír (advisor) ; Želinský, Tomáš (referee)
Economic situation in the Central Europe is to a big extent influenced by the disparities between core regions (mostly the capitals) and the rest. If the gap between cores and peripheries is still widening, local governments of peripheral regions must come up with policies to protect their economies from the globalised world. This basic statement is examined in this work using two different methods: regionalised input-output analysis (for Czech regions) trying to discover structural differences between regions and its implications, and NEG equilibrium simulation method examining agglomeration forces in the Central Europe and evaluating possible outcomes of protective policies in terms of NTBs (limiting the openness). The results confirm the agglomeration tendencies and suggest mainly two ways of effective policies: regional specialisation and investments into infrastructure, which would lower the transaction costs within the peripheral regions. NEG simulation method has serious limits due to the problematic calibration. Powered by TCPDF (www.tcpdf.org)
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The effect of lecture/seminar attendance on exam results
Plachá, Romana ; Pertold-Gebicka, Barbara (advisor) ; Želinský, Tomáš (referee)
The core of this thesis is to investigate how attendance at the lectures and seminars affects the exam results. Despite the fact that schools are the primary source of education, attendance at the universities is not usually compulsory. As a university student, I was interested if and how attendance influences academic performance at the university where I study. Thus I decided to conduct a survey and chose an undergraduate course Econometrics II at the Charles University in Prague. The sample is 42 students. Because of the problem of omitted variable bias, it was necessary to control for the unobservable factors such as ability, motivation, and effort. Therefore there are used two methods of estimation. Firstly, the method of ordinary least squares with proxy variables and secondly the method of two-stage least squares with an instrumental variable. The results indicate that in the studied sample there is a positive and sig- nificant effect of attendance at the lectures on the exam results, however, the effect of attendance at the seminars is not statistically different from zero. Keywords attendance, academic performance, ordinary least squares (OLS), two-stage least squares (2SLS), rational decision making Author's e-mail romanaplacha@gmail.com Supervisor's e-mail barbara.pertold-gebicka@fsv.cuni.cz
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Is Maternal Death more important for Girls and Paternal Death for Boys? An Analysis from Developing Countries
Klepetko, Tomáš ; Bauer, Michal (advisor) ; Želinský, Tomáš (referee)
Parental death has the potential to deteriorate various outcomes of children in the developing world. One of such outcomes is education: when a parent dies, resources are reduced, psychological distress increased, so is the necessity to replace the parent in some of their duties. Literature commonly distinguishes impacts of maternal and paternal death on education of children. Nevertheless, no papers focus directly on the interaction between gender of the deceased parent and of the orphaned child. This thesis tests empirically the hypothesis that maternal death is more important for girls and paternal death for boys. The reasoning is that mothers typically spend more time caring about little children and about household generally, so after maternal death it is necessary to find a substitute for this role and it is more likely to find one among the daughters than among the sons. Subsequently, the daughter is at a higher risk of dropping out of school due to higher responsibilities at home. Fathers, on the contrary, are primarily income-earners, so after paternal death it becomes more likely that one of the sons replaces the deceased father on labour market than one of the daughters. The son then becomes more likely to stop attending school than any of the daughters. Using cross-sectional data from...
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Variation of Relationship between Individual and Parental Education across OECD Countries
Todt, Michal ; Chytilová, Julie (advisor) ; Želinský, Tomáš (referee)
This thesis investigates the presence of intergenerational transitions of education and how it relates to wealth. The analysis is conducted on a set of 30 OECD countries. Linear regression is used to show the presence of positive, signiffcant effects of maternal and paternal education on individual's education. Additionally, the we evaluate the functional form of the relationship between marginal effects of parental education and wealth. The datasets do not provide any supportive evidence for the hypothesis increasing of marginal effects being increasing and concave function of wealth on the interval of feasible wealth values. Moreover, the obtained positive marginal effects are likely to suffer by endogeneity bias.
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Estimating the elasticities of labour supply for SMEs in Bosnia and Herzegovina
Šabić, Ada ; Strielkowski, Wadim (advisor) ; Želinský, Tomáš (referee)
This Master thesis aims at testing the intertemporal substitution hypothesis (ISH) for small and medium enterprises in Bosnia and Herzegovina. We predicted a positive relationship between the hours worked and the transitory changes in wages, and tested the hypothesis using the data collected via surveys of small entrepreneurs in North-Western Bosnia and Herzegovina; collecting data on daily income and the hours worked. The estimated wage elasticities are positive and different from zero, according to which it appears that the hypothesis of negative wage elasticities has no empirical evidence in the case of Bosnian and Herzegovinian entrepreneurs. This result implies that the intertemporal labour substitution hypothesis found supportive evidence and that we can reject the daily targeting hypothesis. We also argue that entrepreneurs tend to pursue profits across working days because their main motive for running a business is the accumulation of capital and wealth, so that they follow the pattern of intertemporal labour substitution. The findings can be explained by an unfavourable business climate in Bosnia and Herzegovina, which is a result of a long-lasting transition process the country is still undergoing. Keywords: labour supply, elasticity, intertemporal substitution, daily targeting, SMEs,...
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Irrationality in the perception of money
Juhásová, Zuzana ; Chytilová, Julie (advisor) ; Želinský, Tomáš (referee)
Irrationality is a phenomenon that can be seen in every aspect of human life. In many cases people do not behave rationally in terms of economic theory and they often do not even realise it. This thesis aims at problem of irrationality in the perception of money and describes anomalies in rational decision-making. First, it introduces the topics that behavioural economics is concerned with and its place among other sciences. It brings the overview of history of behavioural economics and the most influential people that are responsible for its evolution. Next, it briefly summarizes the most common research methods used. After that, the concept of rationality is described, both from classical economics and behavioural points of view. The core of the thesis is the experiment that is an example of irrationality in the perception of money. Studies that examined this problem are presented. Finally, a conducted survey is presented, which detects the presence of irrational behaviour.
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