Prague Economic Papers, 2000 (vol. 9), issue 1

Original contributions, Original article, Research article

Corporate governance and residual state property (two qualitative shortcomings of privatization in transition countries)

Wladimir Andreff

Prague Economic Papers 2000, 9(1) | DOI: 10.18267/j.pep.61

The privatization in transition countries generated distorsions. Among the most dangerous distorsions are those introduced by a non legal or criminal privatization of management with the help of former or new informal networks connecting managers to the irregular economy and to some extent to the mafia. State regulation is required to control again monopoly power in privatized utilities and sectors where private stakes have won privileged position. It should be better to recognize the unavoidable role of the state in economic restructuring and use its intervention as a complementary - rather than an antagonistic - tool of the economic transition.

Disinflation, supply shocks and monetary policy

Vratislav Izák

Prague Economic Papers 2000, 9(1) | DOI: 10.18267/j.pep.62

This paper reviews the main features of the Czech macroeconomic development in the last years with the accent on disinflation and real GDP. The adjustment path of the Czech economy is clear: The decrease in nominal GDP growth has caused a deceleration of inflation on the one side and a drop of growth rates of real GDP and later even a decline in the level of real GDP on the other side. Further the econometric investigation of relations between wages and labour productivity and net inflation, producer prices and gap has been made. As the main factors influencing the disinflation in the last quarters the index of raw materials and foodstuffs has been...

Pension policy in the czech republic (lessons from a comparative study with hungary and poland)

Marek Mora

Prague Economic Papers 2000, 9(1) | DOI: 10.18267/j.pep.63

This article deals with pension policy in three most developed transition countries: the Czech Republic, Hungary and Poland. Unreformed public pension systems suffer under a number of deficiencies and it is likely that pension policy will be a part of negotiations in the EU accession process, mainly due to its fiscal and social impacts. The progress in pension reform made so far differs broadly among those three countries. Hungary has adopted a multi-pillar system in July 1998 with a significant role of mandatory, fully funded pillar. Poland has made important preparation steps in the same direction and the laws have recently been approved by the Parliament....

Economics of transition: the inflation multiplier

Davorin Kračun

Prague Economic Papers 2000, 9(1) | DOI: 10.18267/j.pep.64

Examining the most advanced economies in transition we meet a moderate and long lasting inflation. This paper tries to determine one of the important mechanisms of inflation connected with the price setting under those circumstances. As the recorded inflation represents one of the most important parameters of price formation, there is a certain mutual relation between the sectoral price formation and the inflation. If the sectoral price formation is formalized by a linear function, this mutual relation can be expressed as a multiplier. In this article a possibility of sectoral price formation with linear function is presented and the inflation multiplier...

Book reviews

All that should be known about repo

Petr Dvořák

Prague Economic Papers 2000, 9(1) | DOI: 10.18267/j.pep.65

New approaches to time series analysis

Tomáš Cipra

Prague Economic Papers 2000, 9(1) | DOI: 10.18267/j.pep.66

Natural resources valuation

Antonín Dvořák

Prague Economic Papers 2000, 9(1) | DOI: 10.18267/j.pep.67

Development and outstanding problems of european union

Petr Soukup

Prague Economic Papers 2000, 9(1) | DOI: 10.18267/j.pep.68

Comprehensive assessment on world economy as a real system and a theoretical discipline

Jan Hřích

Prague Economic Papers 2000, 9(1) | DOI: 10.18267/j.pep.69