Risk preferences under acute stress
Cingl, L.; Cahlíková, Jana
2013 - English Many important decisions are made under stress and they often involve risky alternatives. There has been ample evidence that stress impairs decision making in cognitive as well as in affective domains, but still very little is known about whether individual attitudes to risk change with exposure to acute stress. To directly evaluate the causal effect of stress on risk attitudes, we adopt an experimental approach in which we randomly expose participants to a psychosocial stressor in the form of a standard laboratory stress-induction procedure: the Trier Social Stress Test for Groups. Risk preferences are elicited using an incentive compatible task, which has been previously shown to predict risk-oriented behavior out of the laboratory. Keywords: risk preferences; stress; Trier Social Stress Test for Groups; cortisol Available at various institutes of the ASCR Risk preferences under acute stress

Many important decisions are made under stress and they often involve risky alternatives. There has been ample evidence that stress impairs decision making in cognitive as well as in affective ...

Cingl, L.; Cahlíková, Jana
Národohospodářský ústav, 2013

Explaining the strength and the efficiency of monetary policy transmission: a panel of impulse responses from a time-varying parameter model
Matějů, Jakub
2013 - English Keywords: monetary policy transmission; TVP-VAR; sign-restrictions Available at various institutes of the ASCR Explaining the strength and the efficiency of monetary policy transmission: a panel of impulse responses from a time-varying parameter model

Matějů, Jakub
Národohospodářský ústav, 2013

Correlations between biofuels and related commodities: a taxonomy perspective
Krištoufek, L.; Janda, Karel; Zilberman, D.
2012 - English Keywords: biofuels; networks; minimal spanning tree Available at various institutes of the ASCR Correlations between biofuels and related commodities: a taxonomy perspective

Krištoufek, L.; Janda, Karel; Zilberman, D.
Národohospodářský ústav, 2012

Dissent voting behavior of central bankers: what do we really know?
Horváth, R.; Rusnák, Marek; Šmídková, K.; Zápal, J.
2012 - English Keywords: monetary policy; voting record; dissent Available at various institutes of the ASCR Dissent voting behavior of central bankers: what do we really know?

Horváth, R.; Rusnák, Marek; Šmídková, K.; Zápal, J.
Národohospodářský ústav, 2012

Regional distribution of German-Czech multinationals on the domestic market
Moritz, M.; Münich, Daniel; Schäffler, J.; Srholec, Martin
2012 - English The article deals with the domestic location of German multinational firms which have affiliates in the Czech Republic. Due to the common border the Czech Republic represents an attractive target country for both vertical and horizontal direct investments. On the one hand, the still existing wage gap offers the opportunity to offshore activities abroad by reason of cost advantages. On the other hand, the increasing purchasing power of Czech customers provides favorable chances to acquire a new market. On the basis of a register of firms made available by the German-Czech Chamber of Industry and Commerce we present findings on the growing economic integration between the two countries. Almost 80% of the headquarters of German investors are located in the four federal states Bavaria, Baden-Wuerttemberg, Hesse and North Rhine-Westphalia. The eastern German New Laender are far less engaged in investments in the neigh-boring country. We use count data models in order to account for the distribution of the dependent variable, i.e. the number of investors in the German domestic regions. Controlling for several economic factors it can be concluded that the headquarters of German multinationals investing in the Czech Republic are preferably located in areas with high regional GDP. The distance to the common border plays an important role for the decision to enter the Czech market. In addition, regions that are situated directly at the German-Czech border are involved at an above-average rate in foreign direct investment. Thereby, location patterns differ between manufacturing firms and both trading and service companies. Keywords: economic integration; multinational firms; foreign direct investment Available at various institutes of the ASCR Regional distribution of German-Czech multinationals on the domestic market

The article deals with the domestic location of German multinational firms which have affiliates in the Czech Republic. Due to the common border the Czech Republic represents an attractive target ...

Moritz, M.; Münich, Daniel; Schäffler, J.; Srholec, Martin
Národohospodářský ústav, 2012

Modeling Armenia
Cincibuch, M.; Kejak, Michal; Vávra, D.; Auda, O.; Aslanyan, Gurgen; Bečičková, H.; Daniš, P.; Hřebíček, H.; Janjgava, Batlome; Kacer, R.; Kameník, O.; Konopecký, F.; Lamazoshvili, Beka; Lukáč, J.; Menkyna, Robert; Mirzoyan, Armen; Motl, T.; Musil, K.; Plotnikov, S.; Rasulova, Khanifakhon; Remo, A.; Vlček, J.
2012 - English The report has two chapters. Chapter 1 describes the structural model which lies at heart of the FPAS. It summarizes the main features of the Armenian economy relevant for building the structural model and describes in detail the most distinctive parts of the model. The chapter concludes with an analysis of the model properties and an interpretation of past economic developments in Armenia through the optic of the model. Chapter 2 evaluates how the FPAS performs empirically. The forecasting power is assessed by in-sample comparison with the standard random-walk benchmark. We conclude that the FPAS performs satisfactorily in this comparison. Keywords: Armenia; forecasting and policy analysis system Available at various institutes of the ASCR Modeling Armenia

The report has two chapters. Chapter 1 describes the structural model which lies at heart of the FPAS. It summarizes the main features of the Armenian economy relevant for building the structural ...

Cincibuch, M.; Kejak, Michal; Vávra, D.; Auda, O.; Aslanyan, Gurgen; Bečičková, H.; Daniš, P.; Hřebíček, H.; Janjgava, Batlome; Kacer, R.; Kameník, O.; Konopecký, F.; Lamazoshvili, Beka; Lukáč, J.; Menkyna, Robert; Mirzoyan, Armen; Motl, T.; Musil, K.; Plotnikov, S.; Rasulova, Khanifakhon; Remo, A.; Vlček, J.
Národohospodářský ústav, 2012

Modeling Mozambique
Cincibuch, M.; Kejak, Michal; Vávra, D.; Auda, O.; Aslanyan, Gurgen; Bečičková, H.; Daniš, P.; Hřebíček, H.; Janjgava, Batlome; Kacer, R.; Kameník, O.; Konopecký, F.; Lamazoshvili, Beka; Lukáč, J.; Menkyna, Robert; Mirzoyan, Armen; Motl, T.; Musil, K.; Plotnikov, S.; Rasulova, Khanifakhon; Remo, A.; Vlček, J.
2012 - English The report has four chapters. Chapter 1 summarizes the main features of the Mozambican economy relevant for building the FPAS. Chapter 2 presents the structural macroeconomic model and its properties, captured by the decompositions of the variances of the model’s variables in terms of the model shocks and by the model’s impulse-response functions. This chapter also describes the Bayesian vector autoregressions used for near-term forecasting. Chapter 3 evaluates how the models perform empirically. The forecasting power is assessed both in the sample and by using an out-of-the-sample comparison with the standard random-walk benchmark. We conclude that the FPAS performs satisfactorily in this comparison. Chapter 4 summarizes the data used in the structural model and the issues identified during the data collection process. Keywords: Mozambique; forecasting and policy analysis system Available at various institutes of the ASCR Modeling Mozambique

The report has four chapters. Chapter 1 summarizes the main features of the Mozambican economy relevant for building the FPAS. Chapter 2 presents the structural macroeconomic model and its properties, ...

Cincibuch, M.; Kejak, Michal; Vávra, D.; Auda, O.; Aslanyan, Gurgen; Bečičková, H.; Daniš, P.; Hřebíček, H.; Janjgava, Batlome; Kacer, R.; Kameník, O.; Konopecký, F.; Lamazoshvili, Beka; Lukáč, J.; Menkyna, Robert; Mirzoyan, Armen; Motl, T.; Musil, K.; Plotnikov, S.; Rasulova, Khanifakhon; Remo, A.; Vlček, J.
Národohospodářský ústav, 2012

Life (dis)satisfaction and the decision to migrate: evidence from Central and Eastern Europe
Otrachshenko, V.; Popova, Olga
2012 - English This paper provides the first evidence regarding the impact of life satisfaction on the individual intention to migrate. The impact of individual characteristics and country macroeconomic variables on the decision to migrate is analyzed in one framework. Differently from other studies, we allow for life satisfaction to serve as a mediator between macroeconomic variables and the intention to migrate. Using the Eurobarometer Survey for 27 Central Eastern (CEE) and Western European (non-CEE) countries, we test the predictions of our theoretical model and …find that dissatisfi…ed with life, people have a higher intention to migrate. The macroeconomic conditions have an effect on the intention to migrate indirectly through life satisfaction. At all levels of life satisfaction, unemployed, middle-aged individuals with a low or average income from urban areas at all levels of education are found to have higher intentions to migrate from CEE countries than from non-CEE countries. Keywords: life satisfaction; migration; decision making; život; rozhodování Available at various institutes of the ASCR Life (dis)satisfaction and the decision to migrate: evidence from Central and Eastern Europe

This paper provides the first evidence regarding the impact of life satisfaction on the individual intention to migrate. The impact of individual characteristics and country macroeconomic variables on ...

Otrachshenko, V.; Popova, Olga
Národohospodářský ústav, 2012

Parental background and other-regarding preferences in children
Bauer, Michal; Chytilová, J.; Pertold-Gebicka, B.
2012 - English Keywords: other-regarding preferences; altruism; spite Available at various institutes of the ASCR Parental background and other-regarding preferences in children

Bauer, Michal; Chytilová, J.; Pertold-Gebicka, B.
Národohospodářský ústav, 2012

Modeling Uganda
Cincibuch, M.; Kejak, Michal; Vávra, D.; Auda, O.; Aslanyan, Gurgen; Bečičková, H.; Daniš, P.; Hřebíček, H.; Janjgava, Batlome; Kacer, R.; Kameník, O.; Konopecký, F.; Lamazoshvili, Beka; Lukáč, J.; Menkyna, Robert; Mirzoyan, Armen; Motl, T.; Musil, K.; Plotnikov, S.; Rasulova, Khanifakhon; Remo, A.; Vlček, J.
2012 - English The report has three chapters. The chapter 1 summarizes main features of the Ugandan economy relevant for building the FPAS. The chapter 2 presents the structural macroeconomic model and its properties captured by decompositions of variances of the model’s variables in terms of the model shocks and by its impulse-response functions. The chapter also describes Bayesian vector autoregressions used for the near-term forecasting. The chapter 3 evaluates how the models perform empirically. The forecasting power is assessed both in the sample as well as by using an out-of-the-sample comparison with the standard random-walk benchmark. We conclude that the FPAS performs satisfactorily in this comparison. Keywords: Mozambique; forecasting and policy analysis system Available at various institutes of the ASCR Modeling Uganda

The report has three chapters. The chapter 1 summarizes main features of the Ugandan economy relevant for building the FPAS. The chapter 2 presents the structural macroeconomic model and its ...

Cincibuch, M.; Kejak, Michal; Vávra, D.; Auda, O.; Aslanyan, Gurgen; Bečičková, H.; Daniš, P.; Hřebíček, H.; Janjgava, Batlome; Kacer, R.; Kameník, O.; Konopecký, F.; Lamazoshvili, Beka; Lukáč, J.; Menkyna, Robert; Mirzoyan, Armen; Motl, T.; Musil, K.; Plotnikov, S.; Rasulova, Khanifakhon; Remo, A.; Vlček, J.
Národohospodářský ústav, 2012