This thesis addresses the subject of environmental Kuznets curve (EKC). EKC is a model expressing the relationship of economic development and environmental damage. The chosen topic is relevant in connection with ongoing discussions relating to global warming and the impact of human activity on this phenomenon. The concept would give us many clues to the future development of pollution not only in developing countries. The paper examines whether research into the relationship of economic development the country and harming the environment makes sense. The paper also seeks to contribute to confirm or refute the concept of the EKC for specific situations. Specifically, the EKC model validation for selected indicators of environmental pollution in the Czech Republic. The main methods of work are research of literature and empirical analysis. Searches of papers and other publications relating to the concept of EKC is shown in the first part. The second part is devoted to empirical testing EKC for various pollutants in the Example of the Czech Republic. Main result of a literature research is that empirical validation of EKC model makes sense. The work with results of those researches has to be very careful. Main output of own research is verifying the validity of EKC model for selected air pollutants in Czech Republic.

This paper aims answer the question what is the revenue--maximizing rate of corporate income tax. Before analysis the literature of Laffer curve criticism and conversly literature of Laffer curve applications is summarized. In paper the relationship of tax rates and tax revenues is examined for Czech republic in time period from 1993 to 2009 and for Ireland in time period from 1981 to 2009 by regression analysis. Analysis showed the relationship described by Laffer theory. Revenue--maximizing tax rates reach values of 27,66% for Czech Republic and 25,1% for Ireland. Because the current statutory corporate tax rates are in both countries lower than calculated Laffer points, further reduction in tax rates will result in decline in tax revenues.

This doctoral thesis devotes itself to macro-finance models of the Czech yield curve that enable the modeling of the yield curve as a whole and belong to the group of multi-factors models. These factors are unobservable or latent variables, and are intuitively called level, slope and curvature. Macro-finance models not only fit the yield curve through the use of latent factors, but they also try to provide a macroeconomic interpretation. The macro part of the model uses a type of VAR model, where the macroeconomic variables are endogenous or exogenous, or some macroeconomic model based on e.g. a New Keynesian economy. Such a type of models can answer (1) how the macroeconomic variables affect the yield curve, and, on the other hand, (2) how these macroeconomic variables are affected by the yield curve. The EUR/CZK exchange rate and the external environment play an important role in the Czech small open economy (in particular, developments in the eurozone and the impact of global investors' sentiment toward risky assets). Thus, we should take this into consideration when applying to Czech data. It has been shown that temporary macroeconomic and financial shocks (to inflation, output gap, EUR/CZK exchange rate, external demand, etc.) strongly affect the short end of the yield curve; however, longer spot rates react only marginally. The longer end of the curve may move more significantly in the case of a longer duration of the above-mentioned shocks (thus affecting inflationary expectations) or in the case of shocks to the inflation target and real equilibrium interest rates.

The Master's Thesis is divided into three parts. In first part it is dealing with particularities of marketing of services and specifically with marketing of language schools. In practical part it is analysing language schools in Prague and Brno by marketing research It compares and evaluates marketing mix of language schools and shows common and different points of the biggest players and defines their market position by value curves. The third part is about concrete language school from the environment of a smaller city in Slovakia. It describes its marketing mix, analyses competition and shows its strong and weak points in market position by value curves.

This thesis is focused on questions of state redistribution and income inequality in the Czech republic. It explains the main ideas of state redistribution, income inequality and relation between them. It anlyzes the particular instruments of state redistribution such as tax systems and systems of social transfers which the government uses to achiave more equal distribution of incomes in society. The object of the thesis is to find out how the particular instruments contribute to filling the essentials goal - lower the income inequality in society. It is based on the data from years 2006 until 2008 from the statistics of household accounts published on the web site of the Czech statistical office. Finally, it is devoted to the trends of state redistribution and income inequality in OECD countries.

[pt] Essa dissertação tem como objetivo apresentar e aplicar métodos para estimar probabilisticamente as reservas recuperáveis de petróleo de campos maduros (campos em fase de declínio), a partir dos dados históricos da produção (taxa de produção e tempo). Inicialmente é feita uma revisão bibliográfica de tópicos relevantes ao assunto e são apresentados os métodos de ajuste da curva de declínio e de estimação probabilística das reservas encontrados na literatura. Em seguida, são adaptadas a esses métodos algumas modificações consideradas relevantes para uma melhor precisão dos resultados e são desenvolvidos programas em linguagem VBA capazes de fazer a estimação probabilística das reservas recuperáveis e do tempo total de produção do campo desde o início do declínio. Por fim, são gerados resultados de um campo- produtor exemplo e feitas as devidas comparações entre as previsões determinísticas e as probabilísticas. / [en] This dissertation is intended to present and apply the probabilistic methods to estimate the recoverable reserves of mature oil fields (fields in the decline phase), from the historical production data (production rate and time). Initially, a bibliographical review is made and the methods of adjustment of the decline curve and probabilistic estimation of the reserves found in literature are presented. For greater precision, some modifications are made in these methods and programs are developed in Visual Basic. These programs are intended to obtain the probabilistic estimation of the recoverable reserves and the total production life of the field starting at the beginning of the decline phase. Finally, the results of a producing field are presented and the comparisons between the deterministic and the probabilistic forecasts are made.

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Labor market indicators such as unemployment and labor force participation show a significant amount of heterogeneity across demographic groups, which is often not incorporated in monetary policy analysis. This dissertation is composed of three essays that explore the effect of labor market heterogeneity on the design and conduct of monetary policy. The first chapter, <b>Effect of Monetary Policy Shocks on Labor Market Outcomes</b>, studies this question empirically by looking at dynamics of macroeconomic outcomes to a monetary policy shock. I construct a measure of monetary policy shock using narrative methods that represent the unanticipatory changes in policy. Impulse response of unemployment rates for high and low-skill workers show low-skill workers bear a greater burden of contractionary monetary policy shock. Their unemployment rates increase by almost four times that of the high-skill group. Even though we see differences in dynamic response of unemployment rates, the empirical analysis shows some puzzling results where effects of contractionary shock are expansionary in nature. Moreover, these results are plagued by the “recursiveness assumption” that the shock does not affect current output and prices, which is at odds with theoretical models in the New Keynesian literature. In the second chapter, <b>Skill Heterogeneity in an Estimated DSGE Model</b>, I use a structural model to better identify these shocks and study dynamic responses of outcomes to economic shocks. I build a dynamic stochastic general equilibrium model, which captures skill heterogeneity in the U.S. labor market. I use Bayesian estimation techniques with data on unemployment and wages to obtain distribution of key parameters of the model. Low-skilled workers have a higher elasticity of labor supply and labor demand, contributing to the flatness of the wage Phillips curve estimated using aggregate data. A contractionary monetary policy shock has immediate effects on output and prices, lowering both output and inflation. Moreover, it increases unemployment rates for both high and low-skill groups, the magnitude being larger for the latter group. The presence of labor market heterogeneity will have new implications for the design of monetary policy, that I study in the third chapter, <b>Optimal Monetary Policy with Skill Heterogeneity</b>. I design an optimal policy for the central bank where policymakers respond to the different inflation-unemployment trade-off between high and low-skill workers. The monetary authority must strike a balance between stabilization of inflation, GDP and outcomes of high and low-skill workers separately. This optimal policy can be implemented by a simple interest rate rule with unemployment rates for high and low-skill workers and this policy is welfare improving.

Thesis advisor: Noah Snyder / Increasing attention has been drawn to the need for reliable streamflow estimates at ungaged locations under a range of climatic and hydrologic conditions. Climate projections for the northeastern United States over the 21st century--which include significant increases in temperature and precipitation--could have broad impacts on streamflows, potentially reducing the accuracies of existing streamflow models for the region. This thesis investigates recent changes in daily flow-durations in southern New England, and examines their influence on the reliability of the low-flow models for Massachusetts presented by Ries and Friesz (2000). An analysis of discharge data collected at gaging sites through water year 2012 revealed increases in nearly all flow durations at sites across southern New England since the mid-20th century, whereas very low flows (quantiles at or above the 95-percent exceedance probability) generally showed decreases, especially since the 1990s. Twenty-year moving streamflow quantiles at each of ten selected exceedance probabilities were examined for the periods of record of 16 streamflow-gaging stations in southern New England. The beginning of water year 1992 appeared to mark an inflection point in low-flow quantiles, before which very low flows were steady or increasing, and after which these flows showed near-universal decreases. While the observed peak in 20-year low-flow quantiles around 1992 may be due to the statistical method used to calculate the quantile trends, the inflection point could also be an indicator of when increasing evapotranspiration surpassed increasing precipitation as the principal climatic driver of changes in low flows in southern New England. The general upward translation of the flow-duration curve observed over the last 60 years is very likely linked to increases in annual precipitation during this period, while the decreases in very low flows are likely due to changes in climatic variables (increasing summer temperatures and evapotranspiration rates), and amplified by anthropogenic factors (greater areas of impervious surfaces and increasing rates of surface- and ground-water withdrawal). The data suggest that increasing precipitation rates have already caused the Ries and Friesz (2000) equations for the median low flows (Q50 to Q75) to become biased towards underestimation, and decreases in very low flows threaten to render the models for these flows biased towards overestimation in the coming decades. The streamflow quantile trends (for both the entire period of record of the gaging stations and just the post-1992 period) for each of the ten flow-durations of interest were extended into the future to the point where the corresponding Ries and Friesz (2000) model would fail (when actual flow durations would be outside the 90-percent prediction intervals for the estimated flows for greater than 10% of sites). The models for the lowest streamflows are estimated to lose validity by as early as 2018. Climate change is predicted to have significant effects on streamflow characteristics in southern New England over the 21st century, and the results of this study indicate that the Ries and Freisz (2000) low-flow models should be reformulated using more recent streamflow data within the next decade, and validated every 20 years thereafter to ensure their accuracies are maintained despite the effects of regional nonstationarity. / Thesis (MS) — Boston College, 2014. / Submitted to: Boston College. Graduate School of Arts and Sciences. / Discipline: Earth and Environmental Sciences.

Thesis submitted in fulfilment of the requirements for the degree of Doctor of Philosophy in the FACULTY OF COMMERCE LAW AND MANAGEMENT SCHOOL OF ECONOMICS AND BUSINESS SCIENCES at the UNIVERSITY OF THE WITWATERSRAND / The design and implementation of the monetary policy in South Africa has been based on the idea of a trade-off between inflation and output growth. However, there is no consensus among empirical investigations on the existence of Phillips curve in the present times. While the South African Reserve Bank (SARB) has instrument independence, it does not have goal independence, which implies that there is coordination between the monetary policy and other macroeconomic policies. Thus, if the SARB objectives are in line with the other policy objectives, there should be a relationship between monetary variables and real variables. This therefore shows that in the long-run, monetary policy cannot single-handedly bring about both sustained economic growth and employment creation (SARB, 2014). Thus this study explored inflation dynamics in South Africa by using the Hybrid new Keynesian Phillips curve (HNKPC) and the augmented Gordon’s models. The study firstly estimated the Hybrid new Keynesian Phillips curve model with a view to determine whether Phillips curve exists and ascertain whether the backward-looking or forward-looking components drive inflation dynamics in South Africa using OLS and GMM estimation techniques. The results show that the Phillips curve does not exist in South Africa using various measures of demand-side variable. These findings are robust across estimation methodologies as well as different measurements of inflation expectations and data frequency. While the findings indicated that economic agents in South Africa are both rational and adaptive in predicting inflation, the results clearly showed the dominance of forward looking component over the backward looking element in driving inflation. Secondly, given the focus of the South African monetary authority in maintaining stable inflation rates and the fact that monetary policy need to go hand-in-hand with other policies in order to ensure stable inflation and economic growth (Gruen, Pagan and Thompson, 1999), this study considered the expanded Gordon’s model with a particular focus on how fiscal policy determines the inflation process in South Africa. The purpose of the Gordon’s chapter is to verify the existence or non-existence of Phillips curve in an expanded model, within the context of an augmented “triangle” model while including the monetarist and fiscal side variables, thereby checking whether the PC relationship of recent studies is robust to model specification. Thus, the augmented Gordon’s model was estimated using a holistic approach of including the fiscalist, monetarist and the structuralist schools of thought, using the Vector autoregressive (VAR), vector error correction model (VECM) and innovation accounting techniques. The results confirm the non-existence of PC whereby output growth maintained a negative relationship with inflation rate, signifying no trade-off despite the expanded specification, while the results from output-gap model are inconclusive. Further results showed that the demand-side, fiscal factors and some of the structural variables contribute more to the inflation dynamics in South Africa. Thus the changes in inflation rate are as a result of changes in output growth, government deficit, electricity price and exchange rate. The results confirmed that the Fiscal Theory of the Price Level (FTPL) applies to the South African economy, whereby not only monetary policies should be considered in controlling inflation, but also fiscal policies. On the other hand, the importance of the determinants of inflation rate is not sufficient in observing the inflation dynamics in South Africa; therefore, this study concluded by investigating the level at which inflation becomes detrimental to output growth. In the context of the low levels of economic growth and high levels of unemployment in South Africa, the study analysed the output growth implications of the inflation targeting monetary policy of the South African Reserve Bank that targets an inflation band between three and six percent. Using the Threshold Autoregressive (TAR) and the Sample Splitting Threshold Regression (SSTR) techniques, this study investigated the nonlinear inflation-growth nexus in South Africa with the purpose of identifying the inflation rate band that optimize output growth. The results showed that South Africa is able to accommodate a higher level of inflation beyond the current inflation target band by increasing the band to between seven and nine percent in order to enhance output growth. Our findings support the argument of studies that indicate that moderately higher inflation rate will not be harmful to the economy. / MT2017