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Essays on Managerial Pay Structure
Antal, Juraj ; Roland, Gérard (advisor) ; Libich, Jan (referee) ; Fidrmuc, Jarko (referee)
Three essays on regime change∗ Juraj Antal CERGE-EI† and ČNB‡ June 2008 Abstract This dissertation consists of three chapters from different economic fields that have a regime change in common. While the first chapter deals with anticipated monetary regime change, the other two chapters address political regime change. The impact of the particular regime change on equilibrium outcomes, based on microfoundations, is part of the result common to all chapters. In addition, each chapter provides additional results and insights into the corresponding topic. Keywords: Macroeconomics, Political Economics, Transition Economics, New Keynesian Models, Small Open Economy, Monetary Policy Rules, Regime Change, Communist parties, Strategic Behavior, Corruption, Electoral competition, Media JEL classification: E17, E31, E52, E58, E61, F02, F41 ∗ František Brázdik is the coauthor of the first chapter. This chapter was supported by the Czech National Bank Research Project No. A2/2005. The views expressed are those of the authors and do not necessarily reflect those of the Czech National Bank. † A joint workplace of the Center for Economic Research and Graduate Education, Charles University, Prague, and the Economics Institute of the Academy of Sciences of the Czech Republic. Address: CERGE-EI, P.O. Box 882, Politických vězňů 7,...
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Essays in Applied Microeconomics: School Admission Mechanisms and Corporate Bankrupcy
Knot, Ondřej ; Roland, Gérard (advisor) ; Švejnar, Jan (referee) ; Filer, Randall (referee)
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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The Road to Efficient Liberalization of EU Energy Markets: Obstacles and Consequences
Mravec, Michal ; Ortmann, Andreas (advisor) ; Kmenta, Jan (referee) ; Roland, Gérard (referee)
1 Understanding the Lack of Competition in Natural Gas Markets: The Impact of Limited Upstream Competition Motivated by the slow emergence of competition after the natural gas market in the Czech Republic was liberalized, I explore the impact of upstream competition on the downstream level. I extend standard Cournot models to understand current and likely future developments, paying particular attention to the impact of market liberalization on a country characterized by a lack of domestic production and limited foreign upstream competition. I show that the upstream producer might exercise his market power to capture some of the benefits of liberalization and increase the wholesale price, which hinders the desired decline of the end-user price in the long run. This pricing change in turn makes the entry of new players in the transition period more difficult. This problem might be mitigated or even completely reversed if upstream competition develops simultaneously with downstream liberalization. What Role Does Storage Play in the Liberalization of the Natural Gas Market? Focusing on the liberalization of the natural gas market in the Czech Republic, in this paper I explore the impact of the structure of natural gas storage on the development of competition and prices after market liberalization. I...
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The Road to Efficient Liberalization of EU Energy Markets: Obstacles and Consequences
Mravec, Michal ; Ortmann, Andreas (advisor) ; Kmenta, Jan (referee) ; Roland, Gérard (referee)
1 Understanding the Lack of Competition in Natural Gas Markets: The Impact of Limited Upstream Competition Motivated by the slow emergence of competition after the natural gas market in the Czech Republic was liberalized, I explore the impact of upstream competition on the downstream level. I extend standard Cournot models to understand current and likely future developments, paying particular attention to the impact of market liberalization on a country characterized by a lack of domestic production and limited foreign upstream competition. I show that the upstream producer might exercise his market power to capture some of the benefits of liberalization and increase the wholesale price, which hinders the desired decline of the end-user price in the long run. This pricing change in turn makes the entry of new players in the transition period more difficult. This problem might be mitigated or even completely reversed if upstream competition develops simultaneously with downstream liberalization. What Role Does Storage Play in the Liberalization of the Natural Gas Market? Focusing on the liberalization of the natural gas market in the Czech Republic, in this paper I explore the impact of the structure of natural gas storage on the development of competition and prices after market liberalization. I...
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Essays on Managerial Pay Structure
Antal, Juraj ; Roland, Gérard (advisor) ; Libich, Jan (referee) ; Fidrmuc, Jarko (referee)
Three essays on regime change∗ Juraj Antal CERGE-EI† and ČNB‡ June 2008 Abstract This dissertation consists of three chapters from different economic fields that have a regime change in common. While the first chapter deals with anticipated monetary regime change, the other two chapters address political regime change. The impact of the particular regime change on equilibrium outcomes, based on microfoundations, is part of the result common to all chapters. In addition, each chapter provides additional results and insights into the corresponding topic. Keywords: Macroeconomics, Political Economics, Transition Economics, New Keynesian Models, Small Open Economy, Monetary Policy Rules, Regime Change, Communist parties, Strategic Behavior, Corruption, Electoral competition, Media JEL classification: E17, E31, E52, E58, E61, F02, F41 ∗ František Brázdik is the coauthor of the first chapter. This chapter was supported by the Czech National Bank Research Project No. A2/2005. The views expressed are those of the authors and do not necessarily reflect those of the Czech National Bank. † A joint workplace of the Center for Economic Research and Graduate Education, Charles University, Prague, and the Economics Institute of the Academy of Sciences of the Czech Republic. Address: CERGE-EI, P.O. Box 882, Politických vězňů 7,...
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Essays in Applied Microeconomics: School Admission Mechanisms and Corporate Bankrupcy
Knot, Ondřej ; Roland, Gérard (advisor) ; Švejnar, Jan (referee) ; Filer, Randall (referee)
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 the Globalization of Production and International Trade
Kovaříková Arro, Anu ; Roland, Gérard (advisor) ; Filer, Randall (referee) ; Deardorff, Alan (referee)
This dissertation consists of three essays on the globalization of production and international trade. In the economic literature, globalization has traditionally been represented by international trade, foreign direct investment and factor mobility, although more recently it has also come to relate to the fragmentation of production. Specifically, final good firms fragment their production such that they buy the intermediate products from outside producers, giving rise to horizontally specialized supply chains at separate stages of production.
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