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Modelling ethanol production in simultaneous equations model of global food demand and supply
Kozák, Miroslav ; Janda, Karel (advisor) ; Macháček, Vít (referee)
This thesis conducts an econometric analysis for the relationship between food price and ethanol production. A system of simultaneous equation models for the demand and supply for food are estimated, paying attention to the effect of ethanol production. The two-stage and three-stage least-squares estimation methods are adopted, which explicitly account for endogeneity in the system. Using annual data from 1981 to 2020, it is found that the ethanol production has little economic impact on food price. This may be closely related with inelastic demand and supply with respect to price that have been found in this study, where exogenous shocks such as an increase of ethanol production may have small effects on price. JEL Classification C12, C13, D12 Keywords Ethanol, Endogeneity, Food Price, Elasticity, Si- multaneous Equations Model Title Modelling ethanol production in simultaneous equations model of global food demand and sup- ply Author's e-mail kozakmiroslav92@gmail.com Supervisor's e-mail karel-janda@seznam.cz
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Income Shocks and Ethnic Group Bias
Hruban, Jiří ; Bauer, Michal (advisor) ; Horváth, Roman (referee)
Diploma Thesis Abstract JEL Classification Z13, O12, O13, Z91 Keywords income shock, endogeneity, ethnicity, instrumental variables Title Income Shocks and Ethnic Group Bias Author's e-mail 61618416@fsv.cuni.cz Supervisor's e-mail bauerm@fsv.cuni.cz Abstract The thesis explores how individual income shocks impact ethnic group bias using a survey dataset from Uganda and meteorological data. Previous research has shown that the majority of civil conflicts break down along ethnic lines, and that ethnic tribalism harms economic performance of countries. A better understanding of the causal mechanism behind ethnic bias could help alleviate both of those problems. The author finds that income shocks have no measurable effect on ethnic out-group bias, but they might influence ethnic in-group bias. Since the regression of ethnic bias variables on income proxies likely suffers from endogeneity, the author employs the copula endogeneity correction model, which, however, does not prove to perform well with a binary dependent variable. In addition, the author demonstrates that ethnic group bias is most likely not directly influenced by variations in rainfall and that instrumenting for income with rainfall variation leads to non- robust results with even a small violations of model assumptions.
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The Growth Effects of Education in CEE and Balkan Countries
Radonjić, Marija ; Baxa, Jaromír (advisor) ; Cingl, Lubomír (referee)
This study applies the cross-country growth accounting regressions derived from the augmented Solow-Swan model to ascertain the growth effects of education in CEE and Balkan countries. We firstly test whether the total stock or accumulation of education matters more for corresponding countries' growth and afterwards we decompose the total stock into educational stocks at primary, secondary and tertiary levels to test whether the disaggregated educational levels have different growth effects. We do so by applying the panel fixed effects technique on 17 CEE countries during the 1990-2010 period. In addition, we address the endogeneity of education by using the lags of different educational proxies as instruments. The results suggest that the average stock of education is significantly contributing to economic growth of CEE countries with the biggest growth effect of tertiary education. Regarding the Balkan countries only, the growth effect of education is almost a null. We conclude that one cannot have economic growth without a good educational system and efficient usage of human capital. Thus, the policy implications should be related to the proper identification of the quality of educational governance, problem of mismatch on labor market and better utilization of human capital. Keywords:...
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Is the Amount of Alcohol Consumption Influenced by Unemployment?
Trubák, Marek ; Chytilová, Helena (advisor) ; Brožová, Dagmar (referee)
This bachelor thesis analyzes the relationship between alcohol consumption and unemployment in the Czech Republic. Author estimates 2 econometric models based on time series from the period 1991 - 2012. Models except above mentioned variables also include the impact of GDP, inflation, real wages, state social expenditures and delayed variable of alcohol consumption testing its addictiveness. Primary hypotheses, defined as positive impact of unemployment on alcohol consumption was confirmed and the analysis shows that 1% increase in unemployment rate leads to 1,05 % increase in alcohol consumption. Secondary hypotheses, defined on the contrary as positive impact of alcohol consumption on unemployment was also confirmed and the results show that 1% increase in alcohol consumption leads to unemployment increase by 0,22 %, which affirms the endogenity assumption of these variables as well. No less important is resulting coefficient of GDP which seems to be counter-cyclical in relation to alcohol consumption.
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Optimální měnová oblast: endogenita kritérií, Simulace zavedení Eura v České republice
Bernardová, Radana ; Klosová, Anna (advisor) ; de Lara Resende, José (referee)
The main goal of this thesis is to analyze the topic of the endogeneity of OCA criteria with the focus on the Euro area and simulate the adoption of Euro in Czech Republic. The paper is organized as follows. Firstly the theory of the Optimal Currency Area (OCA) and the comparison of the costs and benefits of currency union are explained. In next chapter the literature review is given. The most important and most recent studies dealing with the shock asymmetry and integration, eastern enlargement of European Union and the endogeneity hypothesis are presented. In the fourth chapter the Euro adoption in Czech Republic is simulated. According to studies handling with the Euro introduction the expectations of the impact of Euro adoption in the Czech economy are presented. The fourth chapter includes the description of the data, the model and results.
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