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Thursday, 17 September, 2026

Master´s Thesis Defense Presentations September 2026

Defense Committee: Jan Zápal, Teresa Freitas-Monteiro, Ole Jann

10:00

Oganesyan Robert: Comparison of Simple and Advanced ETF Portfolio Allocation Strategies across Major World Regions and Economic Sectors for a Retail Investor

11:00

Kaucký Richard: Fiscal Policy in the Context of an Aging Population: The Case of the Czech Republic

12:00

Yeghoyan Milena: The Effects of COVID-19 on the Global Economy: A Cross-country Comparison

14:00

Orujova Nurana: Macroeconomic Responses to the 2014 - 2016 Oil Price Decline in Oil-Exporting Economies: A Cross-Country Event Study

15:00

Balakishiyeva Elnara: Energy Prices and Macroeconomic Adjustments in European Industrial Sectors, 1995-2011

Orujova Nurana

Abstract:

This thesis investigates why oil-exporting countries experienced different GDP outcomes following oil price shocks. It provides a public-data replication of Grigoli, Herman, and Swiston (2019) for the 2014–2016 oil price decline. It extends their framework by constructing composite resilience measures and applying them to the positive oil-price episode of 2022. Cross-country regressions cover 26 oil-exporting economies and are interpreted as conditional associations. The replication preserves the original coefficient signs, while the composite indices indicate a strong relationship between pre-shock resilience and post-shock performance. For 2022, however, this relationship is weak and unstable, and it disappears completely when developments in 2023 are included. Overall, the evidence demonstrates that resilience is more relevant to reducing losses during adverse episodes than to increasing gains during favorable ones.

Full Text: “Macroeconomic Responses to the 2014 - 2016 Oil Price Decline in Oil-Exporting Economies: A Cross-Country Event Study"