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Modelling ethanol production in simultaneous equations model of global food demand and supply
Kozák, Miroslav ; Janda, Karel (advisor) ; Macháček, Vít (referee)
This thesis conducts an econometric analysis for the relationship between food price and ethanol production. A system of simultaneous equation models for the demand and supply for food are estimated, paying attention to the effect of ethanol production. The two-stage and three-stage least-squares estimation methods are adopted, which explicitly account for endogeneity in the system. Using annual data from 1981 to 2020, it is found that the ethanol production has little economic impact on food price. This may be closely related with inelastic demand and supply with respect to price that have been found in this study, where exogenous shocks such as an increase of ethanol production may have small effects on price. JEL Classification C12, C13, D12 Keywords Ethanol, Endogeneity, Food Price, Elasticity, Si- multaneous Equations Model Title Modelling ethanol production in simultaneous equations model of global food demand and sup- ply Author's e-mail kozakmiroslav92@gmail.com Supervisor's e-mail karel-janda@seznam.cz
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Car demand modelling in the Czech Republic
Rückl, Adam ; Pertold-Gebicka, Barbara (advisor) ; Čech, František (referee)
The main purpose of this thesis is to construct a model of passenger cars demand and estimate it using data on new car registrations from the Czech Republic. The constructed model takes into account factors affecting not only the demand, but also the supply, as both of these variables form a simultaneous equations system. In order to estimate the model consistently, the econometric theory of simultaneous equations model is presented. At first the basic notations are introduced, the inconsistency of ordinary least squares estimates is proved and consistent methods of estimation are described, notably the two stage least squares and the indirect least squares methods. Observation of the data suggests that new passenger cars registrations in the Czech Republic were influenced by a specific taxation policy, which up to April 2009 did not allow the value added tax deduction in case of passenger cars. A large proportion of passenger cars were therefore registered as light utility vehicles. This fact has to be taken into account when studying the passenger cars demand. Results of the estimation by the two stage least squares method showed that the demand for new passenger in the Czech Republic is elastic in price and income. Significant sensitivity of the demand was observed also with respect to used cars...
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Numerical study on simultanious equations
Šaroch, Vojtěch ; Lachout, Petr (advisor) ; Cipra, Tomáš (referee)
Title: Numerical study on simultanious equations Author: Vojtěch Šaroch Department: Department of Probability and Mathematical Statistics Supervisor: doc. RNDr. Petr Lachout, CSc. Abstract: In this thesis we deal with the simultaneous equation model. In the first chapter we introduce theoretical aspect of this problem, especially estimation procedures and their properties. We mention issues of an identification and an inconsistency of OLS-estimates for simultaneous modeling. In th second chapter we introduce theory of estimation, especially we will focus on the interval estimation and precision. We mention empirical approach too. In the third chapter we perform a numerical study on the simple macroeconomic model of generated dates. We are interested in properties of interval estimations of parameters, the convergence rate, difference between the empirical and theoretical extimation etc. Keywords: simultaneous equations model, interval estimation, empirical estimation 1
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Car demand modelling in the Czech Republic
Rückl, Adam ; Pertold-Gebicka, Barbara (advisor) ; Čech, František (referee)
The main purpose of this thesis is to construct a model of passenger cars demand and estimate it using data on new car registrations from the Czech Republic. The constructed model takes into account factors affecting not only the demand, but also the supply, as both of these variables form a simultaneous equations system. In order to estimate the model consistently, the econometric theory of simultaneous equations model is presented. At first the basic notations are introduced, the inconsistency of ordinary least squares estimates is proved and consistent methods of estimation are described, notably the two stage least squares and the indirect least squares methods. Observation of the data suggests that new passenger cars registrations in the Czech Republic were influenced by a specific taxation policy, which up to April 2009 did not allow the value added tax deduction in case of passenger cars. A large proportion of passenger cars were therefore registered as light utility vehicles. This fact has to be taken into account when studying the passenger cars demand. Results of the estimation by the two stage least squares method showed that the demand for new passenger in the Czech Republic is elastic in price and income. Significant sensitivity of the demand was observed also with respect to used cars...
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Numerical study on simultanious equations
Šaroch, Vojtěch ; Lachout, Petr (advisor) ; Hendrych, Radek (referee)
Title: Numerical study on simultanious equations Author: Vojtěch Šaroch Department: Department of Probability and Mathematical Statistics Supervisor: doc. RNDr. Petr Lachout, CSc. Abstract: In this thesis we deal with simultaneous equation model. In first chapter we introduce to theoretical aspect of this problem, especially estimation procedures and their properties. We mention issues of identification and an inconsistency of OLS-estimates for the simultaneous modeling. In second chapter we introduce theory of estimation, especially we will focus on interval estimation and precision. We mention empirical approach too. In the third chapter we perform a numerical study on simple macroeconomic model on generated dates. We are interested in properties interval estimations of parameters, the convergence rate, difference between empirical and theoretical extimation etc. Keywords: simultaneous equations model, interval estimation, empirical estimation 1
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