No (1449)
Yes (923)
Number of found documents:
2372
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Does the Spillover Index Respond Significantly to Systemic Shocks? A Bootstrap-Based Probabilistic Analysis
Greenwood-Nimmo, M.; Kočenda, Evžen; Nguyen, V. H.
2021 - English
The spillover index developed by Diebold and Yilmaz (Economic Journal, 2009, vol. 119, pp. 158-171) is widely used to measure connectedness in economic and financial networks. Abrupt increases in the spillover index are typically thought to result from systemic events, but evidence of the statistical significance of this relationship is largely absent from the literature. We develop a new bootstrap-based technique to evaluate the probability that the value of the spillover index changes over an arbitrary time period following an exogenously defined event. We apply our framework to the original dataset studied by Diebold and Yilmaz and obtain qualified support for the notion that the spillover index increases in a timely and statistically significant manner in the wake of systemic shocks.
Keywords:
Spillover index; systemic events; bootstrap-after-bootstrap procedure
Fulltext is available at external website.
Does the Spillover Index Respond Significantly to Systemic Shocks? A Bootstrap-Based Probabilistic Analysis
The spillover index developed by Diebold and Yilmaz (Economic Journal, 2009, vol. 119, pp. 158-171) is widely used to measure connectedness in economic and financial networks. Abrupt increases in the ...
Organization of knowledge and taxation
Kapička, Marek; Slavík, Ctirad
2021 - English
This paper studies how labor income taxation interacts with the organization of knowledge and production, and ultimately the distribution of wages in the economy. A more progressive tax system reduces the time that managers allocate to work. This makes the organization of production less efficient and reduces wages at both tails of the distribution, which increases lower tail wage inequality and decreases upper tail wage inequality. The optimal tax system is substantially less progressive than the current one in the United States. However, if wages were exogenous, the optimal tax progressivity would be much higher.
Keywords:
inequality; knowledge based hierarchies; income taxation
Fulltext is available at external website.
Organization of knowledge and taxation
This paper studies how labor income taxation interacts with the organization of knowledge and production, and ultimately the distribution of wages in the economy. A more progressive tax system reduces ...
Form of preference misalignment linked to state-pooling structure in Bayesian persuasion
Rehák, Rastislav; Senkov, Maxim
2021 - English
We study a Bayesian persuasion model in which the state space is finite, the sender and the receiver have state-dependent quadratic loss functions, and their disagreement regarding the preferred action is of arbitrary form. This framework enables us to focus on the understudied sender’s trade-off between the informativeness of the signal and the concealment of the state-dependent disagreement about the preferred action. In particular, we study which states are pooled together in the supports of posteriors of the optimal signal. We provide an illustrative graph procedure that takes the form of preference misalignment and outputs potential representations of the state-pooling structure. Our model provides insights into situations in which the sender and the receiver care about two different but connected issues, for example, the interaction of a political advisor who cares about the state of the economy with a politician who cares about the political situation.
Keywords:
Bayesian persuasion; strategic state pooling; preference misalignment
Fulltext is available at external website.
Form of preference misalignment linked to state-pooling structure in Bayesian persuasion
We study a Bayesian persuasion model in which the state space is finite, the sender and the receiver have state-dependent quadratic loss functions, and their disagreement regarding the preferred ...
Distributed Sequential Zero-Inflated Poisson Regression
Žemlička, R.; Dedecius, Kamil
2021 - English
The zero-inflated Poisson regression model is a generalized linear model (GLM) for non-negative count variables with an excessive number of zeros. This letter proposes its low-cost distributed sequential inference from streaming data in networks with information diffusion. The model is viewed as a probabilistic mixture of a Poisson and a zero-located Dirac component, whose probabilities are estimated using a quasi-Bayesian procedure. The regression coefficients are inferred by means of a weighted Bayesian update. The network nodes share their posterior distributions using the diffusion protocol.\n
Keywords:
Poisson regression; zero inflation; GLM
Fulltext is available at external website.
Distributed Sequential Zero-Inflated Poisson Regression
The zero-inflated Poisson regression model is a generalized linear model (GLM) for non-negative count variables with an excessive number of zeros. This letter proposes its low-cost distributed ...
Extension of Working Lives in the Czech Republic: Employee Situation. Policy brief DAISIE project
Křížková, Alena; Dudová, Radka; Pospíšilová, Marie; Heřmanová, Marie
2021 - English
This policy brief summarises research project results examining ageing conditions across three sectors: transport, healthcare and banking. It aims to respond to the still insufficient discussion on the needs and opportunities of women and men of pre-retirement age and in the process of retirement in the Czech labour market. Gender and age inequalities accumulate over the life course resulting in significantly lower pensions for women compared to men or making it impossible to retire with a decent pension. Uniform retirement ages does not suit everyone equally. The organisation of work in specific occupations has specific negative effects on the health of older women and men. Changes in profession, position or working time in pre-retirement age is not easily obtainable. The policy brief suggests recommendations for state and policy makers, employers as well as good practice examples. Also published in Czech: https://www.soc.cas.cz/sites/default/files/publikace/daisie_policy_brief_cz.pdf
Keywords:
ageing; extension of working lives; retirement and pension policy; gender and age inequality; life course
Available in digital repository of the ASCR
Extension of Working Lives in the Czech Republic: Employee Situation. Policy brief DAISIE project
This policy brief summarises research project results examining ageing conditions across three sectors: transport, healthcare and banking. It aims to respond to the still insufficient discussion on ...
UniSAFE Deliverable Report 3.2 Report on the European Policy Baseline
Fajmonová, Veronika; Huck, Averil; Andreska, Zuzana; Dvořáčková, Jana; Linková, Marcela; Struzińska, K.; Strid, S.; Hearn, J.; Husu, L.; Allori, A.; Wuiame, N.
2021 - English
The objective of this report is to establish a European baseline of policies in place to combat Gender-Based Violence (GBV) at the legal, policy level and the level of research funding organisations (RFO), as a fixed point of reference for future comparisons, by assessing existing laws and policies at the national and RFO levels in 27 countries in the EU. This is accompanied by analyses of four Associated Countries (Iceland, Serbia, Turkey, UK) and two Third Countries (Canada, USA) that were selected for comparison and as examples of existing practices. The analysis focuses specifically on dedicated legal and policy frameworks focused specifically on universities and research organisations, in order to map the special efforts made by national and regional authorities and RFOs to combat GBV at these specific institutions beyond generic anti-discrimination legislation and labour law protections.\n
Keywords:
gender-based violence; gender; research performing organisations; policy framework; legal framework; #metoo
Available on request at various institutes of the ASCR
UniSAFE Deliverable Report 3.2 Report on the European Policy Baseline
The objective of this report is to establish a European baseline of policies in place to combat Gender-Based Violence (GBV) at the legal, policy level and the level of research funding organisations ...
The Position of Women in Czech Science. 2019 Monitoring Report
Vomáčka, Aleš
2021 - English
The report provides information on the representation of women and men in several areas relevant to the research and development sector in the Czech Republic. The proportion of women students has increased over the last 15 years at all levels of study. In doctoral studies (by 9 percentage points) and in master's studies (by 12 percentage points). However, the proportion of men and women among researchers remains unchanged over time across all disciplines. Women accounted for 26% of researchers in 2005 and 24% in 2019 (in FTE). In European comparison, the Czech Republic is one of the countries with the lowest representation of women in research.
Keywords:
science; women; representation
Fulltext is available at external website.
The Position of Women in Czech Science. 2019 Monitoring Report
The report provides information on the representation of women and men in several areas relevant to the research and development sector in the Czech Republic. The proportion of women students has ...
Media Treatment of Monetary Policy Surprises and Their Impact on Firms’ and Consumers’ Expectations
Pinter, J.; Kočenda, Evžen
2021 - English
We empirically investigate whether monetary policy announcements affect firms’ and consumers’ expectations by taking into account media treatments of monetary policy announcements. To identify exogenous changes in monetary policy stances, we use the standard financial monetary policy surprise measures in the euro area. We then analyze how a general newspaper and a financial newspaper (Le Monde and The Financial Times) report on announcements. We find that 87 % of monetary policy surprises are either not associated with the general newspaper reporting a change in the monetary policy stance to their readers or have a sign that is inconsistent with the media report of the announcement. When we use the raw monetary policy surprises variable as an independent variable in the link between monetary policy announcements and firms’/consumers’ expectations, we mostly do not find, in line with several previous studies, any statistically significant association. When we take only monetary policy surprises that are consistent with the general newspaper report, in almost all cases we find that monetary policy surprises on the immediate monetary policy stance do affect expectations. Surprises related to future policy inclination and information shocks usually do not appear to matter. The results appear to be in line with rational inattention theories and highlight the need for caution in the use of monetary policy surprise measures for macroeconomic investigations.
Keywords:
firm expectations; consumer expectations; monetary policy surprises; European Central Bank; information effect
Fulltext is available at external website.
Media Treatment of Monetary Policy Surprises and Their Impact on Firms’ and Consumers’ Expectations
We empirically investigate whether monetary policy announcements affect firms’ and consumers’ expectations by taking into account media treatments of monetary policy announcements. To identify ...
City simulation software for modeling, planning, and strategic assessment of territorial city units
Svítek, M.; Přibyl, O.; Vorel, J.; Garlík, B.; Resler, Jaroslav; Kozhevnikov, S.; Krč, Pavel; Geletič, Jan; Daniel, Milan; Dostál, R.; Janča, T.; Myška, V.; Aralkina, O.; Pereira, A. M.
2021 - English
SVÍTEK, M., PŘIBYL, O., VOREL, J., GARLÍK, B., RESLER, J., KOZHEVNIKOV, S., KRČ, P., GELETIČ, J., DANIEL, M., DOSTÁL, R., JANČA, T., MYŠKA, V., ARALKINA, O., PEREIRA, A. M. City simulation software for modeling, planning, and strategic assessment of territorial city units. 1.1. Prague: CTU & ICS CAS, 2021. Technical Report. ABSTRACT: The Smart Resilience City concept is a new vision of a city as a digital platform and eco-system of smart services where agents of people, things, documents, robots, and other entities can directly negotiate with each other on resource demand principals providing the best possible solution. It creates the smart environment making possible self-organization in sustainable or, when needed, resilient way of individuals, groups and the whole system objectives.
Keywords:
Smart city; City simulation; Energy resource-demand modelling; Environmental modelling; Synthetic population; Transport modelling
Available on request at various institutes of the ASCR
City simulation software for modeling, planning, and strategic assessment of territorial city units
SVÍTEK, M., PŘIBYL, O., VOREL, J., GARLÍK, B., RESLER, J., KOZHEVNIKOV, S., KRČ, P., GELETIČ, J., DANIEL, M., DOSTÁL, R., JANČA, T., MYŠKA, V., ARALKINA, O., PEREIRA, A. M. City simulation software ...
Score matching filters for Gaussian Markov random fields with a linear model of the precision matrix
Turčičová, Marie; Mandel, J.; Eben, Kryštof
2021 - English
We present an ensemble filter that provides a rigorous covariance regularization when the underlying random field is Gaussian Markov. We use a linear model for the precision matrix (inverse of covariance) and estimate its parameters together with the analysis mean by the Score Matching method. This procedure provides an explicit expression for parameter estimators. The resulting analysis step formula is the same as in the traditional ensemble Kalman filter.
Keywords:
Score matching; ensemble filter; Gaussian Markov random field; covariance modelling
Available at various institutes of the ASCR
Score matching filters for Gaussian Markov random fields with a linear model of the precision matrix
We present an ensemble filter that provides a rigorous covariance regularization when the underlying random field is Gaussian Markov. We use a linear model for the precision matrix (inverse of ...
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