Acta Oeconomica Pragensia, 2011 (vol. 19), issue 4

Relations Between Unequal Income Distribution, Economic Growth and Income Poverty. Latest Findings in Current Economics

Erika Ľapinová

Acta Oeconomica Pragensia 2011, 19(4):3-24 | DOI: 10.18267/j.aop.337  

In this paper we systematize existing theoretical and empirical, often contradictory, knowledge of leading international economists and foreign institutions about reciprocal and causal relations between income distribution, economic growth and income poverty, in order to highlight the importance of income distribution in the economic system, the causes and consequences of income distribution at the macroeconomic and microeconomic levels, which knowledge is relevant for both current economic theory and economic policy.In this paper we seek to answer questions such as: Why is it important to be interested in income inequality? How to relate income...

Application of FIGARCH and EWMA Models on Stock Indices PX and BUX

Zdeněk Štolc

Acta Oeconomica Pragensia 2011, 19(4):25-38 | DOI: 10.18267/j.aop.338  

Volatility of the financial time series belongs to the crucial estimated parameters in finance (e.g. in risk management, derivative pricing). It is well known, that volatility varies in time, so that new approaches of volatility modeling have appeared. In this paper two models of the conditional heteroskedasticity - fractionally integrated GARCH (FIGARCH) and EWMA are presented. These models are illustrated on the daily historical returns of stock index PX and index BUX. Standard tests of normality, autocorrelation and conditional heteroskedasticity are applied to these log-return time series and before estimating the models, which confirm a usability...

Quality Management System in the Tourist Information Centre Sector

Monika Palatková

Acta Oeconomica Pragensia 2011, 19(4):39-54 | DOI: 10.18267/j.aop.339  

The paper deals with quality management in the sector of Tourist Information Centres (TIC) in the Czech Republic and the development of the quality management systems in the sector as part of the national quality management system in tourism. Since the TICs perform a prominent role in destination marketing management, the quality of their services seems to be of high importance. To set the particular quality criteria and to include the TIC segment in the national quality management system, an analysis and extensive research among visitors to TICs, employees and founders of TICs in the Czech Republic has been accomplished. Another analysis focused on...

Negative Prescription and Good Morals

Anton Radaikin

Acta Oeconomica Pragensia 2011, 19(4):55-65 | DOI: 10.18267/j.aop.340  

The article emphasizes the meaning of good faith and traditional institutes of civil law - prescription and preclusion. This publication proposes to contribute to the illumination of exception of prescription against principles of good faith. A number of Court decisions are dedicated to this aspect; however, complex analysis is required. All legal relationships exist within a certain time frame. One of the key tasks of the general civil law is to define formal and substantive concepts of the Rule of Law. Time also plays an important role in defining the time period within which the participants in a trial have the right or are obliged to take certain...

Photovoltaic Energy in the Czech Republic in the 21st Century. A Case Study of a Power Plant for a Family House

Pavla Řehořová, Marcela Exnerová

Acta Oeconomica Pragensia 2011, 19(4):66-80 | DOI: 10.18267/j.aop.341  

Energy, or renewable energy sources, is currently a frequently discussed topic. This paper focuses mainly on the economics of photovoltaic energy, specifically valuation of this technology. First, photovoltaic power systems are described, followed by a description of the method of analysis of photovoltaic project efficiency used in the case study. The main part is devoted to a specific case study of a power plant photovoltaic project valuation (using the Net Present Value). The authors have tried to answer the questions of guaranteed redemption prices as well as the "green bonus". A sensitivity analysis of the NPV to changes in some input parameters...

Some Aspects of Lexical Mistakes Made by Students at the University of Economics in Business German Lessons

Jaroslava Kernerová

Acta Oeconomica Pragensia 2011, 19(4):81-87 | DOI: 10.18267/j.aop.342  

The paper deals with an analysis of Czech-German lexical interference. I draw from my own teaching experience and research into this topic. As many mistakes arise in consequence of semantic divergence and convergence, I want to stress the necessity of a comparative approach to teaching a foreign language, whereby we can avoid a number of frequent mistakes.