National Repository of Grey Literature 3 records found  Search took 0.00 seconds. 
The Effects of Monetary Policy on Housing Prices: Evidence from the Czech Republic
Michalec, Jan ; Havránek, Tomáš (advisor) ; Holub, Tomáš (referee)
This thesis explores the relationship between interest rates, house prices and main macroeconomic variables. In particular, I examine how monetary policy affects house prices in the Czech Republic. The hypotheses assume that an increase in the interest rate that tends to decrease house prices also reduces output and inflation simultaneously. Therefore, the latter would imply that the monetary authority faces a trade-off between macroeconomic and financial stability. The empirical analysis is based on a vector autoregression model and the monetary policy shock is retrieved by the Cholesky decomposition. As for the results, the findings of the thesis conclude that there is a costly trade-off between macroeconomic and financial stability within the Czech economy.
Forecasting Capability of the GDP Components: Granger Causality Approach
Michalec, Jan ; Cahlík, Tomáš (advisor) ; Vozková, Karolína (referee)
This work aims to provide with the procedure of bivariate causality testing based on Granger (1969). We focused on exploration of forecasting capability of GDP components on output itself. We examine, which of five components defined in accordance with the expenditure approach can be useful in forecasting economic growth. Overall, the causal relationship is examined on national accounts data from three member states of the European Union: Austria, France and Germany. For the sake of general inference, the Granger causality tests are executed on panel data, too. We concluded, that consumption and investment possess ability to forecast economic growth. In contrast, GDP was found to be useful in forecasting government expenditures.
Czech electricity grid vulnerability analysis
Acts of terrorism are used by various individuals, groups and transnational networks to push forward own political views, ideas and ideology on society whilst using multiple forms of violence. Their acts of violence are able to jeopardize and endanger health and safety of peoples, environment and the vitality of critical infrastructure as well. Nowadays the most spelled threat comes from so called foreign fighters whose destabilized and war-torn countries of origin are located in Northern Africa and Middle East. In combination with inefficient management of illegal migration phenomenon and unsatisfactory EU policies on that matter the problem becomes even more amplified. Schengen Area provides EU-members with non-restrictive border regime which fosters migration and trade by a great deal but on the other hand it creates an enormous security risk in terms of terrorism and its prevention. For that matter there should be much more emphasis added to the management of EU outside borders. The second most problematic issue are the matters of radicalization of individuals and minority groups in the EU. There might be a causal relationship between growing rates of frustration between peoples and social marginalization of noted societal groups which might be caused by unsatisfactory assimilation policies of respective EU member states. The goal of this given thesis was to analyze risks to Czech electrical grid which might be posed by an act of terrorism. The analysis was done by breaking down the electrical grid safety measures into respective sectors and parts. Risk for each particular category were analyzed and final risk assessment whilst using help of security professionals. A questionnaire method was used to complete this particular task. The questionnaire dataset was later used to identification of most vulnerable weak-points in the electricity transmission system of the Czech Republic in respect to acts of terrorism. This diploma thesis might be used as a blueprint for improvements in the security management of the Czech electricity transmission system and for educatory purposes at the University of South Bohemia, at the Faculty of Health and Social Sciences.

See also: similar author names
3 Michalec, Jiří
1 Michalec, Juraj
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