This paper deals with Czech household mortgage debt and its determinants in the period 1Q2005-2Q2021. Our analysis focuses on the variables determining the level of mortgage debt from both short-and long-term perspectives. Our contribution is two-fold. Firstly, we examine the relationship between the selected variables within a cross-correlation analysis. The results confirm the positive dependency of household mortgage debt and real GDP, real gross average income and the level of house prices. By contrast, a negative relationship was identified for real interest rates, the unemployment rate and the inflation rate. Secondly, we explore the ARDL and EC models and identify one cointegration relationship. Our results confirm that house prices and real wages are determinants of household mortgage debt in the long-term perspective. However, a wider range of variables plays a role in the short run, including house prices, real gross average income, inflation and long-term interest rates. Moreover, our model indicates the insignificance of unemployment in both the short and long run.
The article deals with borrower-based instruments within macroprudential policy as measures aimed at reducing systemic risk regarding household debt. Our contribution is three-fold; Firstly, we show that more than 50% of countries in the European Economic Area have incorporated the borrower-based measures into their national legal framework. Secondly, we provide evidence that in countries exceeding the average level of household debt growth, more active caps are used. Thirdly, our results confirm the use of more than one active cap in countries where the house price increase was higher than average house price growth. We also highlight the reaction of the Czech National Bank and other authorities to the COVID-19 crisis, which has resulted in the relaxing of standards.
IntroductionThe Tier2 Computing Center in Prague runs about 300 worker nodes and 100 storage and service nodes. Our site supports four big HEP experiments: ATLAS, ALICE, D0 and Pierre Auger Observatory. We have already exhausted our C-class IP range and we have to use NAT for several nodes which is not optimal from the performance point of view.Motivation for transition to IPv6
The paper describes the cooperation of JINR specialists and Czech colleagues in theˇeld of deployment and development of modern grid technologies within the framework of the WLCG global infrastructure project. Special attention is paid to the development and usage of monitoring systems. 'É ÉÓÖ ¶μ¸¢ÖÐ¥´ μ ¶ÒÉÊ¸μ¢³¥¸É´μ°• ¡μÉÒ¸ ¶¥Í¨ ²¨¸Éμ¢ ˆŸˆ¨Î¥Ï¸±¨Ì ±μ²²¥£ ¢ μ¡²-ɨ¢´¥¤•¥´¨Ö¨• §¢¨É¨Ö¸μ¢•¥³¥´´ÒÌ £•¨¤-ɥ̴μ²μ£¨°¢ • ³± Ì £²μ¡ ²Ó´μ£μ¨´Ë• ¸É•Ê±ÉÊ•´μ£μ ¶•μ¥±É WLCG. ¸μ¡μ¥ ¢´¨³ ´¨¥ ʤ¥²¥´μ • §• ¡μɱ¥¨¢´¥¤•¥´¨Õ¸¨¸É¥³ ³μ´¨É앨´£ .
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