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Estimating the quadratic almost ideal demand system and the effects of population ageing in the Czech Republic
Bílý, Michael ; Janský, Petr (advisor) ; Hájek, Jan (referee)
The aim of this thesis is to estimate the Quadratic Almost Ideal Demand System of non-durable goods on the Czech Republic Household Budget Survey data in two distinct models. Respective income, own and cross price elasticities are calculated and we interpret the resulting income, price and demographic characteristics of the household demand. The first model is used to estimate the effects of the 2015 Value Added Tax reform in the Czech Republic, which introduced 10% reduced rate on medication and books. We estimate how much the reform changes the consumption behaviour of households, the biggest changes are in the commodities of clothing, books, medications and household goods. The households are estimated to spend 1,049 billion CZK more on non-durable goods and the VAT revenue is estimated to decrease by 818 million CZK. The second model is used to predict the effects of the population ageing on the household demand. We do this in four scenarios to separate effects of the household composition change and to analyse the composed effects of increasing wealth and redistribution among the working and retired households. The population ageing has the highest impact on the commodities of food, fuel and light, transport and leisure services. The shift in composition affects the consumption mostly in the same...
Estimating the quadratic almost ideal demand system and the effects of population ageing in the Czech Republic
Bílý, Michael ; Janský, Petr (advisor) ; Hájek, Jan (referee)
The aim of this thesis is to estimate the Quadratic Almost Ideal Demand System of non-durable goods on the Czech Republic Household Budget Survey data in two distinct models. Respective income, own and cross price elasticities are calculated and we interpret the resulting income, price and demographic characteristics of the household demand. The first model is used to estimate the effects of the 2015 Value Added Tax reform in the Czech Republic, which introduced 10% reduced rate on medication and books. We estimate how much the reform changes the consumption behaviour of households, the biggest changes are in the commodities of clothing, books, medications and household goods. The households are estimated to spend 1,049 billion CZK more on non-durable goods and the VAT revenue is estimated to decrease by 818 million CZK. The second model is used to predict the effects of the population ageing on the household demand. We do this in four scenarios to separate effects of the household composition change and to analyse the composed effects of increasing wealth and redistribution among the working and retired households. The population ageing has the highest impact on the commodities of food, fuel and light, transport and leisure services. The shift in composition affects the consumption mostly in the same...
Effects of price shocks to consumer demand: Estimating the QUAIDS demand system on czech household budget survey data
Dybczak, Kamil ; Tóth, Peter ; Voňka, David
The purpose of this paper is to describe consumer behavior in the Czech Republic by estimating a demand system in which demand depends on income and prices, but also on other factors such as age, size of the household, and position on the labor market.
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