|
|
Misallocation of Human Capital: The Austrian Perspective
Skala, Jakub ; Lebovič, Michal (advisor) ; Bobková, Božena (referee)
Higher education is often considered as one of the safest and most profitable investments in human capital. There are, however, signals that this sector has been experiencing unsustainable economic boom in the United States. This study examines the ability of Austrian Business Cycle Theory to explain the possibility of such boom, i.e. to explain the potential systematic errors in the allocation of human capital. We find that respective allocation is driven by the similar market forces as the allocation of physical capital and hence, that it may fall victim to the same, or similar false market signals, thus creating the cycle of boom and bust. Credit expansion in the sector of student loans can be the trigger then. Furthermore, we study the actual development in this sector and find that empirical evidence provides many reasons to believe that there has actually been unsustainable boom i.e. an economic bubble in the sector of post-secondary education in the United States.
|
|
|
A comparison of the development of regional disparities in the EU countries during the economic crisis
Vrbický, Vít ; Hasman, Jiří (advisor) ; Novotný, Josef (referee)
There are many regional development theories already dealing with development of regional differences and their trends. In the European context is regional development linked with terms like convergence/divergence and related to the basic principles of the European Union Cohesion Policy, which goal is a higher level of integration and compensation of regional differences among member states' regions. Currently is this topic closely associated with last years' significant phenomenon - the economical crisis. The aim of this thesis is to compare the regional development among the European Union member states during the recent economical crisis by analysing regional differentiation on levels NUTS 2 and NUTS. The regional differentiation was calculated using two variability indices (Theil index and the coefficient of variation) and based on the unemployment rate and Gross Domestic Product per capita. Arising from the main hypothesis the bimodality of old versus new member states was partially confirmed, which was more evident using the unemployment rate. Finally the cluster analysis was used to create groups of states on the basis of similarity in the development of differentiation during the crisis. The results didn't show significant dependence according to the proposed hypotheses. The real impact of the...
|
|
|
Price development of prefabricated reinforced concrete structures
Jurásková, Diana ; Štukavec,, Milan (referee) ; Kocourková, Gabriela (advisor)
This diploma thesis deal with evaluation price development of prefabricated reinforced concrete structures in concrete company based on economic cycle of Czech Republic. The theoretical part deal with definition economic cycle, description of pricing in construction and analysis of price development. The practical part describes price development of prefabricated construction and specific example shows compilation total price of skeletal structures with reference to observed development in 2014-2019. Conclusion compares economy cycle with building industry and specific example.
|
|
|
Sladěnost hospodářského cyklu Německa a sousedních zemí
Fuksová, Marie
This thesis deals with the identification and synchronicity of business cycles of Germany and the neighboring countries. The business cycles of the countries was determined using GDP data. There are used two methods to estimate the output gap: Hodrick-Prescott filtr and the method of first order difference. To assess the synchronicity of business cycle in selected countries, a correlation analysis and concordance coefficient were used.
|
|
|
Připravenost zemí střední a východní Evropy na vstup do eurozóny
Bujáček, Jakub
This diploma thesis deals with evaluation of current progress in nominal and structural convergence, and the alignment of the business cycle between CEE countries and Eurozone. Maastricht criteria, indexes of similarities in sectoral structures and theory of optimum currency areas are used for this purpose. There are also used alternative techniques for measuring alignment of the business cycle, which is beneficial to the width of the conclusions that this work produces. Selected techniques indicate process of convergence between CEE countries and Eurozone, but also indicate persisting differences between western and eastern part of EU, which in the case of sharing the common currency leads to the risk of asymmetric shock.
|
|
|
Sectoral employment and business cycle co-movements: the case of Slovakia
Voleková, Zuzana
Diploma Thesis provides an overview in the area of labour market in relation with the business cycle in Slovakia and selected countries of the EU. The main aim of the Thesis is to identify the employment sectors and their cyclical or counter-cyclical economic fluctuations towards the business cycle. Afterwards, it studies the correlation of the Slovak sectoral employment towards the business cycle of the EU and Eurozone. The same research is applied for the Czech Republic for comparison. It also analyses structural similarity of Slovakia with selected EU countries. The research is applied by correlation analysis, descriptive statistics and indices for concentration and specialization.
|
|
|
Vliv příjmových nerovností na investiční rozhodování domácností
Šumbera, Karel
Šumbera, K. The influence income inequality on making investment decision. Bachelor thesis. Brno: Mendel University, 2019. In beginning this bachelor thesis I described different methods for measurement income inequality. After I researched development income inequality in OECD countries from II. World war by Gini coefficient. Next step were described basic and remarkable causes this development. In solution I have explained basic in-vestment rule and one of a few solutions for mitigated development income ine-quality. In the end I gave a few factors about current economic cycle for support my solution.
|
|
|
The Impact of Just-in-Time Inventory Management on Business Cycle Severity
Chalupová, Karolína ; Novák, Jiří (advisor) ; Hanus, Luboš (referee)
This thesis examines the impact of the just-in-time management (JIT) on volatility of inventory and the magnitude of inventory recessionary cuts. Firms' inventory is an important macroeconomic variable - prior research shows that a decrease in inventory volatility is likely an important source of the Great Moderation and that inventory cuts are a crucial part of GDP decreases during recessions. My results show that JIT decreases volatility of inventory change and makes the recessionary inventory cuts milder. Combined with previous research, the results imply that likely, JIT is an important source of the Great Moderation and mitigates recessions. I test the hypotheses with quarterly 1975-2014 data on U.S. publically traded manufacturing firms, consisting of 116 JIT adopters and 116 matched control firms.
|
|
|
Spillovers between low and high risk assets during business cycle
Matyáš, Jan ; Krištoufek, Ladislav (advisor) ; Kukačka, Jiří (referee)
1 Abstract This master thesis examines linkages among bond and stock markets in Ger- many, Austria and Italy. For the purpose of analysis of return spillovers, we use Spillover index framework which enables us to describe development of inter- market linkages over time. The data used in the study includes the period from January 2nd, 1998 to May 23rd, 2017 which allows us to estimate long- term development of spillovers among markets. We find unequal link between stocks and bonds and increase in co-integration of markets during the financial crisis of 2007-2008 with significant persistence after the crisis. Mechanism of transmission of financial shocks among European countries is affected by eco- nomic and political integration of countries. We identify strong interlinkages of markets with substantial influence of Italian assets in transmitting shocks to German and Austrian assets, especially during periods of economic distress. On the other hand, Germany represents an open economy that is increasingly integrated to other markets. Scale of return spillovers is highly dependent on economic situation which is evident from clustering of high spillovers during recessions and a great deal of persistence of these interdependencies. JEL Classification G01, G12, G15, C63, C67 Keywords return spillovers, asset...
|
|
| |
guest ::
