National Repository of Grey Literature 2 records found  Search took 0.01 seconds. 
Public investment and municipalities: who receives EU and government subsidies and why?
Tolstoguzova, Ekaterina ; Janský, Petr (advisor) ; Šťastná, Lenka (referee)
The thesis analyzes the economic and political impact on the distribution of EU funds between municipalities with extended competence in the Czech Republic. The data collected covers the period from 2007 to 2020, which corresponds to the two programming periods of the EU Structural Funds. To estimate the coefficients in dynamic models, we performed a system GMM procedure. The significant results obtained demonstrate a positive effect between the tax revenues of the municipality and the subsidies received. This supports the hypothesis that politicians may allocate more funds to more developed municipalities to achieve greater efficiency. Also, we indicated a political influence on the EU funds allocation process. The size of transfers significantly increases in the election years. This suggests that politicians are channelling more financial support to municipalities ahead of elections in an effort to increase voter support.
Forecasting oil prices volatility with Google searches
Tolstoguzova, Ekaterina ; Krištoufek, Ladislav (advisor) ; Zafeiris, Dimitrios (referee)
Oil market pricing is highly susceptible to geopolitical and economic events. With the rapid development of information technology, energy market can quickly get external information shocks through the Internet. This thesis examines the relationship between prices of three oil benchmarks, CBOE Crude Oil Volatility Index, and Google search queries. We built VAR model to study Granger causality and to provide impulse response analysis. Results indicate both one side and two-side causal relationship between oil-related series and most of the search queries. Out-of sample forecasting with measures of predictive accuracy and Diebold-Mariano test demonstrated that Google trends can improve short-run prediction potential only for models with WTI price and volatility index.