Geometric programming is a special case of nonlinear programming, where objective function and constraints are shaped as posynomials. In this work we introduce geometric programming and solving methods. In~last chapter we will apply the geometric programming to Cobb-Douglas production function, create a model with random demand and possible extensions of this model. Powered by TCPDF (www.tcpdf.org)

This thesis analyses what drives sovereign credit risk when contagion is con- trolled for. CDS spreads are used as a measure of credit risk and bond yields are used to estimate interconnectedness of the examined countries. The main contribution lies in the use of high-frequency data and a robust wavelet based estimator in addition to spatial econometric model. The aim of this thesis is to test for presence of contagion and to evaluate which fundamentals are decisive for market perception of sovereign credit risk. Another goal is to evaluate the possibility of a structural break caused by the Greek debt restructuring. The results show that the restructuring did bring change. Contagion is present during the post-crisis period and it diminishes as the economies recover. Sim- ilarly, fundamentals are of higher importance in the post-crisis period when compared with the following period. JEL Classification C22, C31, C33, G01, G32, G33 Keywords spatial econometrics, CDS spreads, sovereign credit risk, financial contagion, realised covari- ance Author's e-mail josef.zahlava@gmail.com Supervisor's e-mail petr.gapko@seznam.cz

Thesis about regional external economic relations try to resolve a question how subjects in a selected region (Prachatice district) conduct to economic relations with subjects of other territory and how these economic interactions can be describe. The target of the thesis is to characterize these relations on inferior level than the national economy. Literature retrieval cites authors from the field of regional science. Recherché summarises the base methods of research of the matter. The main part of the study describes collecting data about economic activities on two levels external regional relations LAU1 - NUTS1 and LAU1 - LAU1. Data about turnover of goods between 114 entities and subjects from the EU for years from 2004 to 2009 on LAU 1 - NUTS 1 level was obtained from the database Intrastat. Data about interregional exchange on LAU 1 - LAU 1 level were drawn from accounts of three companies from Prachatice district. All data are presented in several ways in tables, charts and maps and commented too. In the thesis is formulated equation which objectifies interregional distances so that responded to its negative effect to size of economic relations between regions. For prediction of the relations can be used reciprocal of the distance (index). The hypothesis on the validity of the formula (index), is statistically tested and confirmed on the end of thesis.

The dissertation consists of three papers which apply Bayesian econometric techniques to monitoring macroeconomic and macro-financial developments in the economy. Its aim is to illustrate how Bayesian methods can be employed in standard areas of economic research (estimating systemic risk in the banking sectors, nowcasting GDP growth) and also in a more original area (monitoring developments in sovereign bond markets). In the first essay, we address a task which analytical departments in central banks or commercial banks face very often - nowcasting foreign demand of a small open economy. On the example of the Czech economy, we propose an approach to nowcast foreign GDP growth rates for the Czech economy. For presentation purposes, we focus on three major trading partners: Germany, Slovakia and France. We opt for a simple method which is very general and which has proved successful in the literature: the method based on bridge equation models. A battery of models is evaluated based on a pseudo-real- time forecasting exercise. The results for Germany and France suggest that the models are more successful at backcasting, nowcasting and forecasting than the naive random walk benchmark model. At the same time, the various models considered are more or less successful depending on the forecast horizon....

The main subject of the diploma thesis is a market price modeling by real estates. As a tool for modeling, is used a multiple linear regression. As starting points, are used an econometrical theory and knowledge about real estate valuation. The main goal is to find optimal model for best capture in the time and place.