Research Seminars (Archive)
Dynamics of Access to CreditLecturer: Jarko Fidrmuc Affiliation: Zeppelin University, Friedrichshafen Mendel University, Room 4.74 1:00 PM • 11/10/2015
Abstract: The access to credit is crucially important for firms’ performance and may have a long- term impact on growth, competitiveness, exports, employment, and innovations. To analyze the behavioral aspects of access to credit we use unique information from the WIFO Business Survey for the period 2011 – 2013 where firms are asked how they evaluate the lending policy of the banks in Austria (which we refer to as perceptions). In addition to their perceptions firms report their direct credit market experience, i.e. whether they have had credit demand during the last three months and whether they were fully or partly successful in obtaining a loan or not. Our results show that firms have a better perception of the lending policy only if they received a loan for which amount and interest rate were as expected. However, if the bank rejected their application or the amount and/ or the interest rate were not as ex- pected, the perceived lending policy is worse.our findings suggest that the experience of the individual firm is a key driver of perceived lending. Moreover, access to credit in a particular period may have a relative- ly long-term impact on the firms’ behavior.
Pathologies in inter-firm cooperationLecturer: Wlodzimierz Sroka Affiliation: University of Dobrowa Gornica Mendel University, Room Q45 1:00 PM • 10/23/2015
Abstract: The phenomenon of inter-organizational cooperation in networks is becoming increasingly important, and as such there are numerous companies which participate in various networks. This is due to the advantages offered by participation in such networks, e.g. access to the resources of partners, the opportunity to learn from partners, reduction of risk, etc. It should be noted, however, that any inter-organizational cooperation is combined with the likelihood that certain negative phenomena may arise, i.e. pathologies which reduce the attractiveness of this type of activity. Some of these pathologies are similar to those occurring in any organization, while the others are a specific feature of network organizations. Therefore the aim of this study is to analyse the pathologies most frequently observed in inter-organizational networks. This analysis begins with a presentation of the importance of network organizations in contemporary business. Then the major pathologies in networks and the varieties thereof are presented, concentrating on two basic types, i.e. simple pathologies and structural pathologies. Subsequently, a comparison is made between pathologies in the organization vs. the pathologies in the networks. Finally, there were described the ways to avoid pathologies in networks, as well as summarised the potential solutions. The conclusion is that although it is impossible to identify a universal solution to the issue of pathologies in the networks (because their sources are complex and systemic in nature), knowledge of such phenomena can reduce the risk of their re-occurrence.
Career Breaks after Childbirth and the Role of Parental Leave PoliciesLecturer: Klára Kalíšková Affiliation: CERGE-EI, Prague ESF, Lipova 41a, Brno, Room S314 1:00 PM • 10/9/2015
Abstract: The Czech Republic is a country with a strong attachment of women to the labor market but one of the longest paid parental leave durations. Using a difference-in-differences methodology, we study the effect of two reforms of duration of parental allowance on the labor market status of mothers 2-7 years after childbirth. While the 1995 reform prolonged parental allowance from 3 to 4 years and the 2008 reform introduced a flexible schedule that allowed shortening of leave from 4 to 2 or 3 years, both reforms kept the job protection period at 3 years, allowing us to study the impact of monetary incentives setting aside changes in job security. We find that the 1995 reform prolonged the parental leave of at least one third of mothers and shifted the post-leave unemployment spell to the time when a child turns 4, while the 2008 reform achieved a reversal of the impact of the 1995 reform, but only to a lesser extent.
The Right Look: Conservative Politicians Look Better and Their Voters Reward ItLecturer: Niclas Berggren Affiliation: Research Institute of Industrial Economics, Stockholm ESF, Lipová 41a, Brno, Room P403 1:00 PM • 5/15/2015
Abstract: Previous research has established that good-looking political candidates win more votes. We extend this line of research by examining differences between parties on the left and on the right of the political spectrum. Our study combines data on personal votes in real elections with a web survey in which 2,513 non-Finnish respondents evaluated the facial appearance of 1,357 Finnish political candidates. We find that political candidates on the right are better looking in both municipal and parliamentary elections and that they have a larger beauty premium in municipal, but not in parliamentary, elections. As municipal candidates are relatively unknown, the beauty-premium gap indicates that voters - especially those to the right - use beauty as a cue for candidate ideology or quality in the municipal elections.
The impact of welfare benefits on natives' and immigrants' attitudes towards immigrationLecturer: Peter Huber Affiliation: WIFO and Mendel University Mendel Univ., Zemědělská 1, Brno, Room Q13 1:00 PM • 4/24/2015
Abstract: We investigate whether the dependence of immigrants on welfare benefits leads to opposition to further immigration by natives and immigrants in a pooled cross-section of 21 European countries for the 2004-2010 period. Explicitly controlling for the dependence of immigrants and natives on benefits we find that higher benefit take-up rates among immigrants than among natives lead to less favourable attitudes of natives towards immigration. Interestingly, we do not find similar stylised facts for immigrants' attitudes towards immigration.
Information and Price Dispersion: Evidence from Retail GasolineLecturer: Dieter Pennerstorfer Affiliation: WIFO, Vienna ESF, Lipová 41a, Brno, Room P403 2:30 PM • 4/3/2015
Abstract: We examine the relationship between information and price dispersion in the retail gasoline market. We first show that the clearinghouse models in the spirit of Stahl (1989) generate an inverted-U relationship between information and price dispersion. Past empirical studies of this relationship have relied on (intertemporal) variation in internet usage and adoption to measure the number of consumers that have access to the clearinghouse. We construct a new measure of information based commuter data from Austria. Regular commuters can freely sample gasoline prices on their commuting route, giving us spatial variation in the share of informed consumers. We use detailed information on gas station level price to construct various measures of price dispersion. Our empirical estimates of the relationship are in line with the theoretical predictions.
Key risk factors in internationaliÂsation of Czech engineering small and medium-sized firmsLecturer: Martina Toulová Affiliation: Mendel University ESF, Lipová 41a, Brno, Room P403 1:00 PM • 4/3/2015
Abstract: Risk has been incorporated into internationaliÂsation theories since their early beginning, for example Johanson and Vahlne (1977) concentrated on risk patterns in Uppsala model. Risk perception is often considered as a constraining factor or barrier to international expansion of a firm. However, the effect of risk perception on international expansion is not clear. Engineering industry is in the Czech Republic one of the most export-oriented industries and it also contributes highly to the GDP growth. To be successful in internationaliÂsation the engineering SMEs has to be aware of risks they may encounter in foreign markets. However, the literature shows that risk management is not so developed in SMEs even though they are more vulnerable to the risk exposure and its effects than large multinational companies with lot of experience and capital. This paper aims to identify the most important risk determinants or risk factors in foreign expansion of Czech engineering SMEs in order to determine what may be the greatest threat for them in the internationaliÂsation process. Moreover, it deals with the risk management practices which these firms apply. The paper is processed on the basis of primary data collection by means of questionnaire survey among Czech engineering firms conducted in 2014 because SMEs that already operate in foreign markets can provide an objective view on the risks they have already encountered. The data was analysed by means of descriptive statistics and hypothesis testing. Furthermore, the risk matrix was applied in order to identify the key risks for engineering SMEs.
Historical Analysis of Monetary Policy Reaction Functions: Do Real-Time Data Matter?Lecturer: Jan Čapek Affiliation: Masaryk University Mendel Univ., Zemědělská 1, Brno, Room Q13 1:00 PM • 3/27/2015
Abstract: This paper investigates the differences between parameter estimates of monetary policy reaction functions using real-time data and those using revised data. The model is a New Keynesian DSGE model of the Czech, Hungarian and Polish small open economies in interaction with the euro area. Unlike the related literature, this paper uses separate vintages of real-time data for all successive estimations. The paper reports several statistically significant differences between parameter estimates of monetary policy reaction functions based on real-time data and those based on revised data. The parameter whose estimate is the most affected by the usage of real-time data is preference for output growth. This result is common across the countries in the study. The results suggest that real-time data matter when conducting a historical analysis of monetary policy preferences.
Does the Czech tax and benefit system contribute to one of the Europe's lowest levels of relative poverty and inequality?Lecturer: Petr Jánský Affiliation: Charles University ESF, Lipová 41a, Brno, Room P403 1:00 PM • 2/27/2015
Abstract: The Czech population is one of the most equal societies in terms of households' disposable incomes and has the lowest level of relative poverty in Europe. We ask if the Czech tax and benefit system helps to achieve this low inequality and poverty. We test this hypothesis with the best available data on households from the Czech Statistical Office - the Survey of Income and Living Conditions (SILC) for direct taxes and social benefits combined with the Household Budget Survey (HBS) for indirect taxes. We thus combine detailed data on household's income and expenditure for the first time. We show that market income, especially due to the inclusion of pensions, is quite egalitarian. We find that the narrowly defined tax-benefit system (direct taxes and social benefits) actually does not change the poverty rate, while the indirect taxes increase it. The Czech tax and benefit system thus does not seem to contribute to the one of the world's lowest levels of relative poverty and inequality. We further provide the first estimates of the redistributive effectiveness of a number of social and tax policies. Among other findings, we show that aid in material need benefits are the most effective in decreasing poverty gap and income inequality, while the child allowance is the largest benefit in terms of coverage of poor individuals.