|
|
Real and price convergence of the Czech Republic and the new Member states of the European Union
Nováková, Veronika ; Potužák, Pavel (advisor) ; Slaný, Martin (referee)
This Thesis deals with the convergence of European states and identifies the influence of the European union enlargement in 2014 on the course of convergence. Both real and price convergences are analyzed by using beta convergence and sigma convergence concepts. The Balassa Samuelson effect is tested as well. The Balassa Samuelson effect explains the existence of price convergence and also indicates the relationship between real and price variables. The existence of real and price convergence was verified for the whole period from 1995 to 2013. During 2004 the integration of European states was strengthened, which was significant for real convergence because the speed of convergence was positively influenced. As for the price convergence, the year 2004 was insignificant as the break point. Despite a similar course of both convergences, price convergence was more affected by the crisis in 2008. The presence of Balassa Samuelson effect was confirmed. Despite the complications during intensity measurement, caused by problematic dividing into tradable and non tradable sectors, corresponding values are realistic.
|
|
|
Struktura vládních výdajů a ekonomický růst
Všetičková, Simona ; Potužák, Pavel (advisor) ; Slaný, Martin (referee)
This thesis examines the effect of the government expenditure structure on the economic growth. The objective is to determine which components of public expenditures are growth enhancing and which growth retarding. The theoretical model is set into the endogenous growth framework and describes the growth mechanism of productive and unproductive government expenditures. The growth impact of public spending composition is analysed for 18 European countries from 1996 to 2012. The empirical part is based on the panel data analysis. The empirical findings suggest that reallocating public resources towards education and health can promote growth. Whereas, higher expenditures on spending and defence are likely to be growth-retarding.
|
|
|
Interconnection between labor market and monetary policy: NAIRU, unemployment hysteresis and monetary policy responses
Slaný, Martin ; Tomšík, Vladimír (advisor) ; Mandel, Martin (referee) ; Žák, Milan (referee)
This dissertation thesis deals with relation between labour market and monetary policy referring to two fundamental theoretical concepts -- natural rate hypothesis (or NAIRU) and unemployment hysteresis hypothesis. The first chapter outlines the most frequent values of the Phillips curve, the fundamental model of macroeconomics theory in the relation between the labour market and the monetary policy. The following chapter deals with the exogenous NAIRU concept which works as natural unemployment rate approximation. The unemployment hysteresis deals with the NAIRU as endogenous variable which is dependent on preceding imbalanced situations on labour market. The thesis outlines the main causes of the hysteresis: capital scrapping effect, role of the long-term unemployment and the insider-outsider hypothesis. The third chapter also comprises simple econometric tests of both particular mechanisms and the hysteresis itself based on usual unit roots tests. The results show the hysteresis using data from both the Czech Republic and Central and Eastern Europe countries (CEEC). The fourth chapter deals with monetary-political implications of the unemployment hysteresis. The practical part of the thesis is based on two hypotheses of the relation between inflation (policy interest rate) and NAIRU. The last chapter based on the VAR model outlines short-term relations between the labour market and monetary policy variables. Long-term relations are tested by both the co-integration analysis and vector error correction model (VECM). These models are examined on the data from the Czech Republic and Poland (2000-2013). The thesis also applies pooled regression estimate for ten CEEC. The results show that the monetary policy does have impact on the labour market not only in the short-term but also in the long-term period and thus they confirm the hysteresis hypothesis
|
|
|
Price elasticity of demand for fuel in border area and its determinants
Vyšný, Martin ; Rod, Aleš (advisor) ; Slaný, Martin (referee)
This survey measures the price elasticity of demand for fuel. Using unique data set from a petrol station in north Bohemia, short-run demand was estimated as price inelastic, the long-run demand was estimated as price elastic. Fuel prices, population in the Free State of Saxony and excise tax in the Czech Republic are main determinants of the demand for fuel. The impact of new vehicles in Ústí nad Labem Region was not proved. A potential effect of tank tourism was estimated using a variable for the difference between fuel prices in observed petrol station and in Germany. Rise in the price difference by one euro cent leads to increase in gasoline demanded in the observed petrol station on average by 1,5 %, and by 2 % in diesel demanded.
|
|
|
Mathematization of Economis: Myth or Fact
Vachunová, Petra ; Šťastný, Daniel (advisor) ; Slaný, Martin (referee)
The work deals with the degree of mathematization in economics. Significant degree of mathematization is understood as such a degree, in which mathematic education helps the successful completion of economic subjects. Number of points acquired in the course 55F100 Mathematics for Economists I is used in attempt to determine the degree of mathematization in courses 5EN202-5EN252 Microeconomics and 5EN203-5EN253 Macroeconomics I taught at the University of Economics in Prague. The degree of mathematization failed to be confirmed by the chosen method. The work concludes that the mathematical skills necessary for completion of these courses are not acquired by students at 55F100 course.
|
|
|
Austrian Business Cycle Theory - the role of consumer durable goods
Wolf, Vojtěch ; Komrska, Martin (advisor) ; Slaný, Martin (referee)
This paper focuses on empirical analysis of selected relationships derived from the Austrian Business Cycle Theory (ABCT). Special attention is paid to consumer durable goods. ABCT suggests that change in the rate of interest or credit availability induces change in relative consumption, production, and relative price of durable goods. This paper aims to verify whether the changes in these variables are consistent with Austrian theory. Several hypotheses are established and tested, using vector autoregression and Granger causality tests. The analysis is based on US time series data, covering the period between 1985 and 2013. The analysis failed to prove conclusively the validity of the hypotheses.
|
|
|
How does the culture history of his native country influence fair-play game?
Skořepa, Matouš ; Houdek, Petr (advisor) ; Slaný, Martin (referee)
The work examines the influence of culture native country, represented by years of war, the numbers of murders per capita, rule of law index, the proportion of believers in the population, as well as individual characteristics, represented by age, salary and a height of players, on fairplay athletes in the NBA in years 2005-2011 for 20 countries. Regression analysis carried out using OLS with the inclusion of robust standard errors confirmed a statistically significant influence of state characteristics of and single individual characteristics, salary. Increasing the number of years in which the country is at war conflict, 1 year leads to an increase in the number of fouls in the game by about 0,6 %, the potential increase of the index rule of law by 1 point associated with a reduction in the number of fouls in a match of 2,8%, increase in the number of murders in the country by 1 % point relates surprisingly, reducing the number of fouls by 0,017%, increasing the proportion of believers in a population of 1 % corresponds to the reduction in the number of fouls player by 0,07 % and the potential increase in the annual player's salary by 1 % point is related to the decrease in the number of fouls by 0,07 %. The surprising result of the influence of the number of murders fouls may be due to the fact that murder is already very extreme manifestation of violence that not all individuals are able to, so this factor is not relevant. The results show that national characteristics have much greater impact on violent behavior than individual characteristics of an individual. Culture homeland is rooted deep in man and carries him into another environment. This finding could be beneficial for the economy of criminology where authorities could via targeted directing cultural factors affecting negatively to human behavior achieve to increase the prevention of violence.
|
|
|
Smoking in restaurants: consumer sovereignty and market failure
Červinková, Kristýna ; Šťastný, Daniel (advisor) ; Slaný, Martin (referee)
Bachelor thesis aims to uncover the possible causes of market failure on the Czech market hospitality. By presenting several hypotheses is described by the behavior of the supply-side and demand-side, resulting in a discrepancy between existing high demand for smoke-free restaurants and lagging supply. Verifying the validity of these hypotheses using analysis of available research and own field research; thesis attaches the share on the form of the current situation to both sides, but also to their interaction. Behavior of customers provides distorted signals, so the owners are not sufficiently motivated to make a major step towards change.
|
|
| |
|
|
Moderní přístupy k trhu práce: přirozená míra nezaměstnanosti a hystereze
Slaný, Martin ; Holman, Robert (advisor) ; Chalupníček, Pavel (referee)
Diplomová práce se věnuje přirozené míře nezaměstnanosti a hysterezi nezaměstnanosti. V kapitolách věnovaných přirozené míře rozebírá dynamický model, Phillipsovu křivku a koncept NAIRU. Práce porovnává hypotézu přirozené míry a NAIRU. Analýza hystereze nezaměstnanosti představuje jádro práce. Po úvodním vymezení se práce soustředí zejména příčinám ? modelu insider-outsider, roli dlouhodobě nezaměstnaných a efektu poklesu kapitálové zásoby a investic. Vyústěním hystereze jsou hospodářsko politické implikace s důrazem na měnovou politiku. Závěr práce se věnuje evropské nezaměstnanosti a snahou je zasadit do praktického kontextu probírané teoretické koncepty. Práce vyúsťuje do domněnky, že jedním z hlavních důvodů pomalého růstu evropské ekonomiky může být hystereze.
|
guest ::
RSS feed.