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Fairtrade in comparison with its alternatives
Škrabánek, Jan ; Svoboda, Miroslav (advisor) ; Mirvald, Michal (referee)
This thesis examines specific consumer behaviour when a consumer takes an interest in conditions which the product was made in. This thesis analyses the most significant initiative in the field -- fairtrade -- and its alternatives. The research tries to answer the following questions: Does a programme better living conditions of the target group? Does it help to reinforce producers' situation in a distribution chain? Is the system transparent enough? The thesis examines following alternatives: 4C Association, Direct Trade and Good African Coffee. These alternatives work in some aspects better than fairtrade. Nevertheless it cannot be argued that either of them is better in all aspects. Fairtrade and its alternatives could be characterized as a speciality market and their possibilities to combat the poverty are therefore limited. The thesis suggests some questions for further research of fairtrade efficiency and it alternatives.
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Influence of Depreciation of Czech Crown Towards Euro on Czech Unemployment Rate
Sojka, Jiří ; Čermáková, Klára (advisor) ; Mirvald, Michal (referee)
This work deals with an unemployment rate diference in the Czech Republic if Czech crown goes down towards Euro from the origin of an European currency until 2009. The first part of this work discusses Euro and its presumtions to influence Czech labour market. A connection between Euro and chosen macroeconomic indicators, which influence Czech unemployment, is shown there and the influence of Czech crown depreciation towards Euro with its impact to unemployment rate is explored too. There is a regression model used in the second part. It describes relationships of the exchange rate and the rate of unemployment. The objective of this work puts in light a fact that depreciation of Czech crown influences the Czech unemployment rate. If Czech crown goes down towards Euro about 1 CZK, the unemployment rate increases in 7,9 %. Czech currency and its cohesion with Euro is clear, which is improved in a practical example in the end of the work.
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Analysis of the impact of some macroeconomic indicators on the suicide rate
Pešatová, Martina ; Hudík, Marek (advisor) ; Mirvald, Michal (referee)
This work answers a question whether there is a relationship between a suicide rate and a real GDP as an indicator of business cycle, and an unemployment rate in the Czech Republic. Some other variables are also used in the analysis, because the suicide rate can be influenced by many other factors. The relationship between the real GDP and the suicide rate was not proved and the relationship between the suicide rate and the unemployment is unclear. But dependence of the suicide rate on the alcohol consumption and a proportion of elderly population were identified.
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The Laffer curve and its application in practice
Kadlecová, Lucie ; Mirvald, Michal (advisor) ; Babin, Jan (referee)
This paper aims answer the question what is the revenue--maximizing rate of corporate income tax. Before analysis the literature of Laffer curve criticism and conversly literature of Laffer curve applications is summarized. In paper the relationship of tax rates and tax revenues is examined for Czech republic in time period from 1993 to 2009 and for Ireland in time period from 1981 to 2009 by regression analysis. Analysis showed the relationship described by Laffer theory. Revenue--maximizing tax rates reach values of 27,66% for Czech Republic and 25,1% for Ireland. Because the current statutory corporate tax rates are in both countries lower than calculated Laffer points, further reduction in tax rates will result in decline in tax revenues.
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Run on Money Market Mutual Funds in 2008.Old Fashioned Panic or Rational Response?
Kovář, Kamil ; Chytil, Zdeněk (advisor) ; Mirvald, Michal (referee)
Money market mutual funds (MMMFs) constitute one of the largest parts of modern financial system. Their nature is such that for a long time they were seen as perfectly safe investment, on par with insured banks. However, dramatic events of the financial crisis of 2007-2008 result in what was called run on MMMFs. This run on MMMFs which occurred in September 2008 was one of the most important parts of financial crisis of 2007-2008. This paper attempts to understand why large scale withdrawals from MMMFs occurred and if these withdrawals followed some clear pattern. In order to do this I construct several models which test whether runs on MMMFs were discriminate or indiscriminate in relation to their portfolio holdings. These models are tested on novel dataset. Results of these tests proved to be conclusive only partly, as time variables indicate that in at least one week of September 2008 the runs were indiscriminate, but concerns about the correctness of the specification remains.
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The Antisocial Punishment Evolution
Schejbal, Martin ; Hudík, Marek (advisor) ; Mirvald, Michal (referee)
This work statistically analyses hypotheses about the presence of antisocial punishment in study of economic experiments. Analysed data source is author's own ABM simulation of antisocial punishment environment. Tested hypotheses and ABM simulations are evolutionary oriented. This represents natural selection of evolving agents (and their groups) interacting with one another. Work is divided by two independent parts of presumptions. Crucial hypothesis of the first part is evolutional advantage from retaliatory punishment, the second part tests hypotheses of evolutional benefits resulting from group selection. Findings of the analysis allow us to accept these crucial hypothesis, and it may be concluded, that antisocial punishment can be regard as an evolutionary advantage, which directly advantages individuals, as well as whole groups.
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Is the child pornography a substitute or a complement for child intercourse?
Hradečná, Anna ; Bartoň, Petr (advisor) ; Mirvald, Michal (referee)
This thesis analyzes the change in quantity demanded of sexual intercourse with minors in dependence on the cost of child pornography. Using this method it examines the type of the good, whether it is a substitute or a complement. Usage possibilities are discussed for child pornography as a complement or a substitute for child intercourse. Thereafter, regression analysis using first-differences and fixed-effects methods follows, which confirms inverse relationship between quantity demanded of sexual intercourse with minors and the cost of child pornography finding child pornography being a substitute for the demand for underage intercourse. This regression analysis is conducted based on the data from the years 2001-2008 from the USA and from the Czech Republic by using internet development as an proxy variable to measure the decline in the cost of child pornography. USA's proxy being assigned IP addresses. As an instrument IP address are used in the USA, and number of households with the internet accession Czech Republic. Estimated results served as a basis for formulating suggestions as to how to lower the number of sexual violence victims. The recommendation is reducing repression for holding child pornography.
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Debt Financing Model and its Comparsion with Current Trends in Household Debt
Stehlík, Petr ; Chytilová, Helena (advisor) ; Mirvald, Michal (referee)
The aim of this work attempts to identify some causes of the current trend in household debt. The work presents its own model of debt financing. Subjects maximize their discounted utility, which depends on its consumption and debt financing in different time periods. Consumer and mortgage loans are analysed. Model simulates an inefficiency of any type of consumer debt financing, and allows benefits in certain situations in mortgage debt financing. These results are discussed in terms of model assumptions, and also from the perspective of some behavioral approaches to indebtedness. The findings are put into comparison with the current trend in the debt financing and identify the reasons, why the model is or is not equivalent to today's economic trends.
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The analysis of Monetary Policy of the Czech National Bank with an emphasis on inflation targeting
Justianová, Lucie ; Mirvald, Michal (advisor) ; Sedláček, Petr (referee)
Thesis bachelor topic is "Analysis of Monetary Policy of the Czech National Bank, with an emphasis on inflation targeting." In the introduction to summarize the CNB's monetary policy. Explain what types of transmission mechanisms were used the Czech National Bank. I will focus specifically on the transmission mehcanism of inflation targeting. Subsequently I will analyze how the CNB managed to maintain symmetry between inflation expectations and inflation target, which inspires me to work on empirical studies and Holub Hurnik [2008] and Horvath [2008]. I will analyze using the LM-test [Charemze-Deadman, 1992] and Granger causality tests between the existing impact of inflation and money supply, exchange rate and wage. I make a regression analysis generated by the VAR-model and show how strong the impact of inflation to changes in monetary, exchange rate and wage growth. If there is a stable state of the monitored variables in relation to inflation, I estimate what the rate impact of exchange rate changes, monetary and wages.
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Analysis of gross domestic product and gross national product in the CR: Comparison of the GDP and GNP of CR
Pánková, Michaela ; Janíčko, Martin (advisor) ; Mirvald, Michal (referee)
The bachelor thesis is focused on the gross domestic and gross national product in the Czech Republic and to the comparison of the composition of these elementary indicators of economic activity. At first the theory behind the aggregates is presented. The predicative value of HDP and HNP is explained, it is then touched upon what the methodological problems of their determination are, their possible division according to existing methodologies, and methods of calculation. Following part is focused on detailed examination of the composition of GDP and GNP in the CR, as relevance of the use of GDP can be succesfully doubted, at least in case of some states. This will be reffered to the example of the selected time period 2004-2008. Subsequently, the structure of GDP and GNP is essentially compared. In concluding part and based on simple econometric analysis, an evaluation is made as to whether GDP indicator in the CR is very reliable so as to be favored over other units and whether differences in GDP and GNP are so great, as is clear from the figures. Finally, it is noted that indicators are better explained by developments in the euro area economy.
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