|
|
Determinants of Crime in Eastern Europe with a Focus on Czechia and Slovakia
Umlaufová, Anna ; Kalabiška, Roman (advisor) ; Schwarz, Jiří (referee)
This study examines whether determinants of crime, hypothesized in the eco- nomic theory of crime and tested in other global regions, also explain crime rates in Eastern Europe, which is often excluded in existing research. Using fixed effects estimation and controlling for social cohesion and law enforcement, the results suggest that increases in income per capita have a negative effect on homicide and violent crime, but the effect on sexual and property crimes is mixed. Furthermore, the significance and sign of the impact of income in- equality and unemployment differ across individual crimes. This study also investigates crime determinants specifically in Czechia and Slovakia. Contrary to the cross-country analysis, there appears to be little connection between aggregate income and the regional distribution of crime, indicating the impor- tance of social rather than economic factors. JEL Classification K42, O15, O52, P20, C23 Keywords Crime, Income distribution, Eastern Europe, Panel Data, Czechia, Slovakia Title Determinants of Crime in Eastern Europe with a Focus on Czechia and Slovakia
|
|
|
The Effect of Airbnb on Prague Housing Market
Ondruška, Daniel ; Polák, Petr (advisor) ; Kalabiška, Roman (referee)
The Effect of Airbnb on Prague Housing Market Daniel Ondruška This thesis studies multiple topics but its main purpose is research of the effect of home-sharing platform Airbnb on house prices and rents in Prague. Sharing economy in general is still a new sector and it is very hard to uncover and correctly analyze it and therefore there are not yet that many studies on this topic. Using very contained and detailed datasets of Airbnb listings, house transactions and renting, we prove that there is a relationship between Airbnb activity and house prices. The results suggest that the increase of Airbnb listings by 1\% leads to a 0.01\% in house price. We also look at COVID-19 and its impact on house prices and rents. This part will be very theoretical since the pandemic is still an actual topic and its real effect might not be fully visible yet.
|
|
|
The effect of monetary stimulus on housing prices and the relationship of housing and rental prices in European countries
Hönig, Maximilian ; Kalabiška, Roman (advisor) ; Hlaváček, Michal (referee)
iv Abstract As real estate is an important part of the wealth composition of households, this the impact of the financial stimulus that was observed throughout 2020 and how it might have affected housing prices in various European countries. For this the thesis runs a Vector Error Correction Model with the following independent variables: population, exchange rate, inflation, short-term interest rate, unemployment rate and the compensation of employees. The time frame for this regression is restricted to 2000Q1 to 2019Q4 in order to exclude the housing price development throughout 2020 that is already affected by the financial stimulus. These regression results are then used in combination with the 2020 actuals of all independent variables to approximate the expected housing price without financial stimulus. This gives an indication of a potential overpricing in the markets and provides an understanding of how financial stimulus might be connected to housing prices. Another analysis in this thesis then provides an understanding of the leader-follower relationship of housing prices and rental prices and provides an analysis on how this might be connected to the level of home ownership in a particular market. JEL Classification F62, J11, R30 Keywords Real Estate, Covid-19, Financial Stimulus Title The effect...
|
|
|
Affordability of own housing across regions of the Czech Republic
Matoušek, Daniel ; Pleticha, Petr (advisor) ; Kalabiška, Roman (referee)
The main objective of the thesis was to investigate disparities in affordabili- ty of own housing across regions of the Czech Republic using three different approaches. Physical availability was monitored by indicators of Number of dwellings per 1000 citizens and Number of dwellings per 100 housekeeping households. Subsequently, the price-to-income ratio was applied to assess fi- nancial affordability for flats and for family houses, separately. The empirical part of the thesis applied first-difference model to uncover the determinants that could explain the disparities in housing affordability. Thus, only those variables that reported sufficient variability across regions were included in the model. As significant determinants of affordability of flats, volume of mortgage loans, number of finished dwellings, the volume of construction works both in the lagged and unlagged version of variable, the unemployment rate and the number of job vacancies were reported. JEL Classification F12, F21, F23, H25, H71, H87 Keywords housing affordability, price-to-income, panel data, regional analysis Title Affordability of own housing across regions of the Czech Republic Author's e-mail 88952997@fsv.cuni.cz Supervisor's e-mail ppleticha@gmail.com
|
|
|
Socio-Demographic determinants of traffic accidents in the Czech Republic
Stejskal, Jakub ; Kalabiška, Roman (advisor) ; Havránková, Zuzana (referee)
This thesis aims to analyze variables influencing different aspects of traffic accidents in the Czech Republic, such as frequency or fatality. Traffic accidents are a huge issue as there are 100 000 of them in the Czech Republic every year alone. The main contribution of this thesis is a new approach looking only at specific types of traffic accidents, such as those caused by speeding, introducing new variables that might be related to traffic accidents, and replicating the results of existing research in the area of the Czech Republic. On the one hand, we found a negative correlation between the portion of wedded people in the area and the number of traffic accidents. On the other hand a positive correlation between portion of wedded people and the number of people killed per accident. One possible explanation for this is that wedded people drive safer, but on average, there are more people in their car, resulting in more deaths in case of traffic accidents. 1
|
|
|
Determinants of Football Players' Market Value
Cvrček, Jan ; Kalabiška, Roman (advisor) ; Vávra, Jan (referee)
This thesis investigates determinants of football players' market value in the top 5 European leagues. It focuses on the differences among defenders, midfielders and forwards. Moreover, it extends the existing knowledge by delving into the unexplored world of goalkeepers. Using the ordinary least squares method on a sample from season 2018/19, it finds several significant factors, such as goals, assists and passes accuracy. The results show that defenders seem to receive more credit for just joining the match than midfielders and forwards, indicating that the latter group is thereby expected to bring added value on the pitch. Furthermore, goalkeepers seem to reach their turning point at the age of 22.4, which is similar to the field players. Nevertheless, the peak was anticipated to be distinctly higher for goalkeepers, making this outcome surprising. Lastly, the set of the significant variables explaining the goalkeepers' market values comprises, for instance, received goals to 90 minutes ratio and team rank at the end of the season, while the proportion of successful saves turned out to be insignificant. Therefore, their market values appear to be driven to a greater extent by the overall team performance than by the statistics directly related to them. All the findings were subject to the...
|
|
|
Salary determinants of NHL players
Kulhánek, Vít ; Kalabiška, Roman (advisor) ; Matoušek, Jindřich (referee)
This thesis aims to examine the effect of NHL players' performances and physical properties on their salary. There have been studies about NHL salary determination, however papers are many years old and the significances may change. Models in this thesis were formulated with original structure of variables based on data from the latest regular season 2018-2019 in order to depict the most recent relationships determination. Furthermore, including the separated models for all position is not observed in any of mentioned papers. Performance variables as well as physical factors were found significant, however its significances levels and values of estimates differ among models. This thesis further extends the research by capturing the effect of goodwill that to the best of our knowledge, has not been studied yet. Moreover, it provides a quantile regression for the group of players with the highest salaries that results in differences among variables significances and estimates compared to the joint model. Goaltenders' model is very rarely investigated, since their variables differs compared to the skaters, therefore it brings new evidence of their salary determination. The goalies' model shows positive and significant result of age and games played. JEL Classification C01, C12, C51, Z20 Keywords...
|
|
| |
|
|
Regional Determinants of Residential Real Estate Prices in the Czech Republic
Kalabiška, Roman ; Hlaváček, Michal (advisor) ; Cahlík, Tomáš (referee)
This thesis aims to examine the behaviour of residential real estate prices and identify their determinants across Czech regions. After cointegration of the data was detected, a panel dynamic OLS estimator was employed. Initially, the effect of a wide range of variables on apartment prices is analyzed on quarterly data for all regions of the Czech Republic. Furthermore, an error correction model is employed to verify the existence of long-term equilibrium of apartment prices and the speed of price adjustment in the short run. The regression revealed that apartment prices are driven mainly by building plot prices, wages, unemployment, net migration and REER. Next, several regions with unique characteristics were excluded from the sample and analyzed separately in order to check robustness of the selected model. The results of PDOLS regression imply that apartment prices react very differently to certain determinants in different groups of regions. Lastly, in order to examine these reactions in different time periods, the dataset was divided by the time dimension. The results suggest that the effect of unemployment was the largest during the financial crisis of 2007/2008 and that the effects of wages and building plot prices have been changing dramatically over time. JEL Classification C23, O18, R11,...
|
|
|
Consequences of liberalization of electricity market
Kalabiška, Roman ; Polák, Petr (advisor) ; Valíčková, Petra (referee)
This thesis examines the impacts of liberalization of electricity market. The first part of this work provides theoretical overview of the liberalization process and electricity market design in Czech Republic. To understand how the european wholesale markets are integrated, I have performed correlation analysis of daily spot prices on selected power exchanges. On the basic of this analysis I confirmed that selected power exchanges are on different levels of integration and have higher dependency on regional level. The second part of the empirical part is focused on the impact of competition on czech retail market. The objective was to show that liberalization and following increase of competition in electricity market result into decrease of retailers' gross profit margins in the segment of housholds with ordinary consumption. The last part of this work is focused on the measurement of market power using the most famous methods of measuring market power, such as Lerner index and Herfindahl-Hirschman index. My calculations indicate that while market concentration has decreased in the long run, since 2012 it is slightly increasing. I have also learned that selected retailers are on similar level of market power. This work fills the gap in literature focusing on the issue of measuring market power...
|
guest ::
