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Faktory ovlivňující míru úspor domácností ve světových ekonomikách
Kudrnová, Veronika
In our work, we focused on the determinants of household saving rates in the world economies. The determinants were divided into economic, financial, and socio-demographic factors. Based on theoretical assumptions and statistical tests, a panel model with fixed effects was created. We analysed 35 OECD countries between years 2000 and 2020. It was found that the determinants of saving rates and their statistical significance in regression analysis differ across all countries in the sample and in specific regions. Finally, based on the findings, recommendations for economic policy measures are presented.
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The impact of COVID-19 on election outcomes: The case of the Czech Republic
Válek, Vojtěch ; Pertold-Gebicka, Barbara (advisor) ; Mošovský, Jan (referee)
This thesis examines the relationship between the COVID-19 pandemic and the election results in the 2021 parliamentary elections in the Czech Republic. Voter turnout together with the results of several political parties is analyzed at the district level. First, the election results of 2021 are examined separately using OLS regression, heteroskedasticity is not detected in the model. A panel dataset is then created, which also includes election results from 2013 and 2017. Based on the results of the Hausman test, the fxed efects method is used to analyze the panel data, and the frst-diferencing method is used as well for comparison. Pairs of years are then analyzed with the use of frst-diferencing, when the results are frst estimated without 2013, and then without 2017. The results of the analysis mainly show a signifcant relationship between the number of infected people and the results of individual political parties. While for political party ANO this relationship is negative, it is rather positive for the other political parties. The second dependent variable of interest is the number of deaths related to COVID-19. In this case, the results of the analysis do not indicate a signifcant connection with the election results. 1
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Comparative Analysis of Indian States
Mačejovský, Alexander ; Cahlík, Tomáš (advisor) ; Irinkov, Pavel (referee)
The crucial role of elementary education for development of individuals and the society can be hardly overrated. Yet in spite of all proclaimed efforts of Indian government focused on achieving universal school enrolment of 6 to 14 years old children, there are still more out-of-school children in India than in any other country in the world. Previous literature dedicated to the problem of elementary education enrolment and retention in India concentrated mainly on the influence of household and individual characteristics on enrolment decisions. The role of school quality received less attention. This thesis aims to bring more light on the effects that supply-side factors have had on enrolment rates in states and union territories of India throughout the 2008/09-2015/16 period. In addition, their impact on progress and retention of students in elementary education is also examined. The findings indicate that investing in building new classrooms or in textbooks incentives has been an effective approach in enhancing the examined outcomes, while factors like small schools or low education of teachers are among problems requiring special attention. Surprisingly, higher number of teachers has no evident positive relation with higher enrolment or retention of students, which might suggest an urgent need for...
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Various Estimation Techniques of the Gravity Model of Trade
Davidová, Lucie ; Benáček, Vladimír (advisor) ; Havránek, Tomáš (referee)
This diploma thesis deals with alternative estimation possibilities of the gravity model in trade. We provide the reader with a synthetic methodological overview of the technical problems with the estimation of gravity equations. Consequently, we test for the heterogeneity of data sets used in gravity models of trade which leads us to a conclusion that behavioural patterns of exporters and importers built in the datasets are very complicated and a single generalized specification of gravity equation can lead to bias in estimates and/or to similarly generalized conclusions that hide important robust idiosyncrasies in behavior present in some subsamples of economic agents. Both the theory of estimation techniques and dataset heterogeneity are applied in the empirical part estimating Austria's export function.
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Can macroprudential policies curb house price booms? International evidence
Šváb, Ondřej ; Horváth, Roman (advisor) ; Geršl, Adam (referee)
This thesis examines the effectiveness of macroprudential policies on reducing housing price growth in the international database of 56 countries with the use of GMM and fixed effects between 2000 and 2017. The macroprudential index is added to the dynamic panel data model where the housing price index is regressed on housing price determinants as the economic growth or unemployment rate. The analysis is also conducted on the sample of countries with a higher market share of owners with a mortgage as there is a higher opportunity to control the housing market through the credit channel. Nevertheless, results show that we do not have enough evidence to state that macroprudential policies curb house price booms. Contrarily, the effect seems to work in the opposite direction which is probably caused by a reverse causality between the growth of real estate prices and the implementation of macroprudential tools. The debt-to-income restriction is the only tool that decreases housing price growth according to the fixed effects model. Detailed counterfactual analysis of the Czech market proposes only a slight impact of the loan-to-value measure on the apartment price development according to one out of four predictions. 1
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Determinants of Induced Abortion in Selected European Countries
Michálková, Tereza ; Chytilová, Julie (advisor) ; Chorna, Olena (referee)
The thesis scrutinizes potential impacts of various socio-economic determ- inants on the legally induced abortions in Europe by examining a sample of 15 European countries for the 2007-2017 period. For the panel data re- gression, fixed effects estimation and random effects estimation, both with the Newey-West robust standard errors, are applied and compared with the Hausman test. The significant results generally correspond to the pre- vious studies. Specifically, both crude divorce rate and female unemploy- ment propose a positive impact on abortions and crude birth rate influences abortions negatively. The only exception opposing the previous studies is the female tertiary education that signals substantial negative impact on abortions in the context of European countries. In addition, the thesis in- troduces new economic variables to the topic of abortions (social benefits, GDP growth rate, GDP per capita and political stability index). Nonethe- less, except for the positive effect of GDP per capita on abortions, the other economic variables did not appear to be significant in the preferred models. Keywords Abortion ratio, legally induced abortions, socio-economic determinants, fixed effects, random effects, European countries.
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Determinants of the residential real estate prices in the CEECs
Stefanov, Adam ; Hlaváček, Michal (advisor) ; Chadimová, Kateřina (referee)
The development of residential house prices has been watched since the global economic crisis in 2008, because overpriced house prices and their following burst was one of the main factors of this crisis. The goal of this work is to analyse the influence of macroeconomic factors on house price growth in ten Central and Eastern European countries since the beginning of the third millennium. The main used methods are P/I and P/R ratios, graphical comparison of price leader effect of the capital city, and house price development and panel data analysis. P/I and P/R ratios show a slowly forming bubble in some countries, but they still do not reach pre-crisis values. Graphical analysis of the price leader effect confirmed the leader effect of the capital. Panel data analysis with fixed effects method was divided into several parts according to the frequency of the data and geographical relationship between countries. Analysis shows connection between house prices and economic growth, real wages and unemployment rate. In some regions, analysis points to the influence of the demographic factors or financial market development. Diversity of the results is caused by the fact that house prices are determined by different factors in different regions. Issues with the data also play some role in these...
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What is the effect of income inequality on economic growth?
Ardeleanu, Dorian ; Baxa, Jaromír (advisor) ; Astapovich, Stanislav (referee)
The impact of income inequality on the level of economic growth is an impor- tant question, but the existing literature did not reach a consensus about the sign of its effect. This thesis studies the impact in 93 countries over the years 1995-2015. We apply two different methods: the fixed effects with Newey and West standard errors, and the first-difference generalized method of moments. The main findings emphasize that a widening wealth gap has an overall negative influence over the real GDP per capita growth. Besides that, the effect is stronger among low-income countries than among high- income ones. Moreover, we find that the impact of income inequality on economic growth depends on the governing party's doctrine. It is negative and statistically significant only in states with centrist governments. 1
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