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Multimodal System for Multi-Object Tracking in Real-Time
Kučera, Adam ; Šátek, Václav (referee) ; Rozman, Jaroslav (advisor)
This thesis deals with the topic of multi-object multi-sensor tracking. A conventional track-oriented multiple hypothesis tracking (TOMHT) pipeline is implemented in C++ programming language and an implementable interface is designed, enabling to easily extend the core algorithm with arbitrary sensors and measured target attributes, making the system multimodal, i.e.\ applicable in heterogeneous systems of sensors. A novel algorithm for solving combinatorial optimization arising in TOMHT is proposed. Finally, few example implementations of the interface are provided and the system is evaluated in simulated and real-world scenarios.
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Image Registration from Static UAV Platform for Ground Objects Localization
Kučera, Adam ; Luža, Radim (referee) ; Rozman, Jaroslav (advisor)
This paper describes development of new robust method for video registration into shared space. Then it is possible to georegister this video to satellite image using single arbitrary frame. Developed high-level method is based on state-of-the-art low-level image processing algorithms. It is robust to huge and/or instant changes in lighting conditions of the scene and changes in geometry of the view. Global error problem is converted to shortest path optimization problem. Local error is minimized via fusion of two approaches to video stabilization.
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Topics in Yield Curve Modeling
Kučera, Adam ; Kočenda, Evžen (advisor) ; Horváth, Roman (referee) ; Mandel, Martin (referee) ; Berka, Martin (referee)
The aim of the thesis is to examine the interaction of macroeconomic and fi- nancial factors through the lens of yield curve dynamics. The thesis consists of three essays that jointly demonstrate the complexity of information incorporated in the yield curve and the importance of attributing yield curve movements to those factors correctly. The first essay uses news-based approach to identify triggers of the U.S. Treasury yield curve movements and demonstrates shifts in the importance of various causes of the movements. The second essay further evaluates the transmission of fiscal policy shocks to the U.S. Treasury yield curve. The first and the second essay together contribute to the literature by showing that the factors beyond the U.S. economic conditions and monetary policy have been becoming an increasingly important cause of the U.S. yield curve movements. These factors include changes in portfolio allocation, cross-border flight to quality and changes in fiscal policy. The third essay proposes a novel method to apply the up-to-date yield curve models to a government bond yield curve in an economy with a relatively shallow government bond market, using the case of the Czech government bond yield curve. This enables decomposing the yield curve and interpreting its movements while accounting for...
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Multimodal System for Multi-Object Tracking in Real-Time
Kučera, Adam ; Šátek, Václav (referee) ; Rozman, Jaroslav (advisor)
This thesis deals with the topic of multi-object multi-sensor tracking. A conventional track-oriented multiple hypothesis tracking (TOMHT) pipeline is implemented in C++ programming language and an implementable interface is designed, enabling to easily extend the core algorithm with arbitrary sensors and measured target attributes, making the system multimodal, i.e.\ applicable in heterogeneous systems of sensors. A novel algorithm for solving combinatorial optimization arising in TOMHT is proposed. Finally, few example implementations of the interface are provided and the system is evaluated in simulated and real-world scenarios.
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The cost of carry model in stock index futures: theory and reality
Němcová, Marika ; Dědek, Oldřich (advisor) ; Kučera, Adam (referee)
The thesis investigates the pricing efficiency of the commonly used cost of carry model in pricing stock index futures and its applicability on the German blue-chip index DAX and related futures contracts in recent years. The work considers the deviations of the observed futures prices from their theoretical counterparts as well as the fitness of the model through regression analysis. The results show that while there are many deviations from the fair values suggested by the model these are small in magnitude when compared with the potential transaction costs implying the contracts are efficiently priced. It is confirmed that there is a cointegrating relationship between futures and spot index values, however, given the regression analysis results the prices do not entirely follow the model design. The other part of the analysis focuses on the behaviour of the basis throughout the life of the relevant futures contracts. The results suggest that there is indeed a decreasing tendency towards the expiration of a contract, nevertheless, it is subject to considerable fluctuations. The paper also documents other factors that might impact stock index futures prices yet not included in the standard pricing formula. JEL Classification C12, C14, C22, G13 Keywords stock index futures, futures pricing , cost of carry,...
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The Key Determinants of Plane Ticket Price Dispersion
Vlčková, Radka ; Kučera, Adam (advisor) ; Čechová, Kristýna (referee)
This thesis examines the plane tickets price development using both descriptive evidence and econometric analysis. The observed phenomenon of rising and falling fares in period close to departure is described and compared with the extensively developed theories, such as demand utilization and stochastic peak load pricing. Studying the fares observed on European routes using descriptive evidence revealed that the airlines accommodate fast to the uncertain demand. In the econometric part, the key factors influencing the price dispersion are determined. The contribution of this thesis is mainly in the econometric approach, as the price fluctuations are measured weekly using the coefficient of variation. This made it possible to compare how the different flight or market characteristics affect price dispersion in different week to departure. It was shown that number of sold seats, the load factor, is the crucial factor.
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Image Registration from Static UAV Platform for Ground Objects Localization
Kučera, Adam ; Luža, Radim (referee) ; Rozman, Jaroslav (advisor)
This paper describes development of new robust method for video registration into shared space. Then it is possible to georegister this video to satellite image using single arbitrary frame. Developed high-level method is based on state-of-the-art low-level image processing algorithms. It is robust to huge and/or instant changes in lighting conditions of the scene and changes in geometry of the view. Global error problem is converted to shortest path optimization problem. Local error is minimized via fusion of two approaches to video stabilization.
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Macroeconomic Uncertainty: An Exogenous Risk in Reinsurance Pricing
Stehlíková, Zuzana ; Kučera, Adam (advisor) ; Geršl, Adam (referee)
The thesis focuses on the analysis of the impact of the inflation uncertainty on the reinsurance pricing, particularly on its measures of risk. Vector autoregression models are used to predict the medium-term inflation and simulate different inflation paths. The consideration of various scenarios of future inflation captured by the stochastic modelling increases the value at risk (VaR) and the tail value of risk (TVaR) of mean ceded loss to the reinsurer. The thesis founds that the inflation uncertainty measured by the stochastic inflation matters and it is important from risk management and hedging perspectives. As a result, additional loadings could be added to the price for the mitigation of the inflation risk. Although the effect of stochasticity of the future inflation is not significant on mean loss, it is the case for the risk of measures, especially for the contracts with high retention relatively to the underlying exposure. JEL Classification F12, F21, F23, H25, H71, H87 Keywords reinsurance pricing, inflation forecasting, inflation risk, long-tail line of business Title Macroeconomic Uncertainty: An Exogenous Risk in Reinsurance Pricing
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Longer-term Yield Decomposition: an analysis of the Czech Government Yield Curve
Kučera, Adam ; Dvořák, Michal ; Komárek, Luboš ; Komárková, Zlatuše
The term structure of yields is an important source of information on market expectations about future macroeconomic developments and investors’ risk perceptions and preferences. This paper presents the methodology used by the Czech National Bank to obtain such information. It describes the decomposition of the Czech government bond yield curve into its components. The evolution of those components is interpreted in relation to the macro-financial environment, as embodied by selected variables. The practical use of the decomposition in estimating and interpreting the responses of the Czech government bond yield curve to macroeconomic and financial shocks is presented using a vector autoregression model.
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