National Repository of Grey Literature 56 records found  1 - 10nextend  jump to record: Search took 0.01 seconds. 
House Prices and Household Consumption: the case of the Czech Republic
Brůha, Jan ; Hlaváček, Michal ; Komárek, Luboš
In this paper, we investigate whether movements in property prices have detectable effects on Czech households’ consumption and saving decisions. We concentrate on three episodes of movements in house and apartment prices and ask whether property owners have significantly different consumption and saving choices from households living in rented properties. We found that, on average, property owners tend to have a lower propensity to consume and a higher saving rate independently of whether property prices move up or down. This casts doubts on the strength of the collateral channel linking the housing market to the macroeconomy in the Czech Republic.
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Socioeconomic passportization of immovable cultural heritage
Kouba, Vojtěch ; Lindner, Milan ; Vořechovský, Jan ; Dostál, Petr ; Pátek, Zdeněk ; Dianová, Markéta ; Titelbachová, Šárka ; Tyslová, Irena ; Straka, Michal ; Zelený, Martin ; Kubaš, Mario ; Hanzlík, Jan ; Vančurová, Alena ; Vond, Zdeněk
Předkládaná metodika je výsledkem aplikovaného výzkumu a je zaměřena na ekonomiku památek, resp. nemovitých objektů prohlášených kulturními památkami České republiky. Jejím cílem je vytvoření pasportů ekonomických hodnot pro jednotlivé památkové objekty, v případě využití metodiky orgány veřejné správy i pro soubory památek určitého druhu či soubory památek na vymezeném území.
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Statistika & My (č. 9/2017): měsíčník Českého statistického úřadu
Český statistický úřad
Měsíčník informující o aktuálním dění v Českém statistickém úřadě. Přináší analýzy, komentáře, výsledky statistických šetření realizovaných a organizovaných ČSÚ, statistické údaje o ČR, jejich obyvatelích včetně mezinárodního srovnání. Uveřejňuje informace o ediční činnosti úřadu, odborných úspěších pracovníků, již uskutečněných a plánovaných tiskových konferencích, seminářích, akcích a dalších aktivitách.
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Should Inflation Measures Used by Central Banks Incorporate House Prices?: The Czech National Bank’s Approach
Hampl, Mojmír ; Havránek, Tomáš
In this note we describe the Czech National Bank’s approach to incorporating macroprudential considerations into monetary policy decision making: the use of a broader inflation measure that gives substantial weight to house prices and is considered along with headline CPI inflation. We argue that, in terms of theory, the broader inflation gauge is at least as suitable for measuring the value of money as headline CPI inflation is, but we also acknowledge practical problems that arise from the use of the broader index.
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The issue of management of properties at selected government departments
Fajfr, Pavel ; Civínová, Denisa (advisor) ; Cvik, Eva Daniela (referee)
The Bachelor´s Thesis deals with the issue of the usage of the immovable property owned by the state from the point of view of the organizations which are competent for the management of the property. The theoretical part of the thesis is focused on characterizing the development of the landed property ownership in the Czech Republic and on defining the term immovable property (focusing on possession and use relationship to a piece of land). Further, the thesis contains description of the development in the landed property ownership in the Czech Republic before and after the year 1989. Then, the possession and use relationships towards a piece of land are defined as well as various prices of rentals/ ground rent (specialized in setting the price usual at the spot an in the time). The practical part is devoted to defining the immovable property of the state and who is competent to manage the property on behalf of the State Land Office; and to comparing statistical data. The data compared are: the price of rentals/ ground rent which is used by the District Land Office for the Hradec Králové District and the prices in towns and municipalities in the Hradec Králové District (division made according to the former Counties). The literary search of the legal regulations and other literature is used in the theoretical part; the quantitative method of evaluating questionnaires is used in the practical part. The aim of the questionnaires is to find out the price of the rentals/ ground rent which is usual at the spot and in the time for renting a piece of land in the Hradec Králové District. This price is further applied when setting the price of rentals/ ground rents in the newly signed contracts of the District Land Office in the Hradec Králové District.
Real Estate Taxes in Selected EU Countries
Plavcová, Adéla ; Moravec, Lukáš (advisor) ; Marie, Marie (referee)
The thesis deals with tax issues, focusing on the taxation of real estate in the European Union. The theoretical part mainly devoted to a general description of this tax in the context of its importance and inclusion in the tax theory. There is also the matter explained the influence of European Union and international agreements on this tax. Not less important is also chapter dedicated to the economic autonomy of local governments. The stress is also put on a description of the structural elements of the tax on immovable property with the application in practice of concrete countries. The practical part is divided into several parts. The first is focused on the analysis of the immovable property Czech taxation with arguments for its reform. The following subchapter describes model property taxpayer at first. Then there is also a comparison of tax systems in selected EU countries. This comparison has the form of description and practical application in the calculation of total tax liability of the taxpayer. The final step is to calculate the relative burden of subject models income and evaluation. Everything is reflected to create of possible solutions taxation of immovable property in the Czech Republic.
Valuation methodology of properties and valuation of the house in Prague.
Gretzová, Lucie ; Heřman, Jan (advisor) ; Zeman, Karel (referee)
This BA thesis is focused on valuation of properties. It is divided into two parts. First, theoretical part shows basic methods of property evaluation and explains basic terminology of this field. In the practical part there is the valuation of the specific property made with administrative method of evaluation.
The Housing Sector over Business Cycles: Empirical Analysis and DSGE Modelling
Brůha, Jan ; Polanský, Jiří
In this paper, we analyse the dynamics of the housing sector over business cycles. First, we provide an empirical analysis of the relationships between housing sector data and the main macroeconomic variables both on Czech data and on a sample of advanced economies. We document that in most countries the housing sector co-moves with the rest of the economy. In the past, the Czech housing market showed temporary episodes during which the housing sector was seemingly disconnected, but since 2005 the housing sector has become more cyclical. Second, we develop a cascade of increasingly complex DSGE models to assess the relative merits of each additional mechanism. Contrary to the popular framework with collateral constraints, we concentrate on the housing sector as an additional production sector via the standard supply and demand mechanisms. Our results confirm that these standard mechanisms are sufficient to replicate the observed comovements of housing market variables.
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The Czech Housing Market Through the Lens of a DSGE Model Containing Collateral-Constrained Households
Tonner, Jaromír ; Brůha, Jan
We incorporate a housing market with liquidity-constrained households into the Czech National Bank’s core forecasting model (g3) to analyze the relationship between housing market and aggregate fluctuations in a small open economy framework. We discuss the historical shock decomposition of house prices and interpret the results in the light of recent empirical work. For a wide range of model calibrations, the interaction between the housing market and the aggregate economy is weak and so the monetary policy implications of house price fluctuations for the Czech Republic are not strong. We interpret this – in line with recent empirical evidence – as an indication that the wealth effects stemming from house ownership are not significant in the Czech Republic. Nevertheless, we show that the collateral mechanism significantly improves the forecasting properties of the extended model, especially for private consumption. This indicates the importance of the collateral effect, which can be caused by assets other than houses.
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