Politická ekonomie, 2002 (vol. 50), issue 1

Některé aspekty spotřební funkce v podmínkách České republiky 90. let

Selected aspects of consumption function in the Czech Republic in the nineties

Josef Arlt, Jindra Čutková, Štěpán Radkovský

Politická ekonomie 2002, 50(1) | DOI: 10.18267/j.polek.344

The character of the consumption function analysis in the Czech Republic is determined by short and non-stable period of the last ten years. The development of consumption in 1990 - 2000 can be divided into four partial different periods. The time series used in the econometric analysis are short. There are two principal econometric approaches to consumption function: Davidson, Hendry, Srba, Yeo approach and rational expectation approach based on the Hall's and Flavin's work. The permanent income hypothesis tests follow the rational expectation framework. The econometric models of consumption function based on the disposable and labor income reject...

Ceny na trzích aktiv

Prices on the asset markets

Stanislav Šaroch

Politická ekonomie 2002, 50(1) | DOI: 10.18267/j.polek.345

The aim of this article is to show some relationships between equity and real estate market on one hand and bussines cycles on the other. These Questions are discussed in the framework of empirical estimates of wealth effect. Using Tobin's q-theory of investment, this paper analyzes reactions in investment behaviour of the firms. The stock market prices do not affect this behaviour. The same is valid for real estate market.

Konkurenční a koluzívní chování v oligopolu

Competitive and collusive behaviour in oligopoly

Miroslav Maňas

Politická ekonomie 2002, 50(1) | DOI: 10.18267/j.polek.346

Single commodity, single criteria (= profit maximization) oligopolies are usually supposed to be competitive but they may, in fact, be collusive. We study observable symptoms of oligopolistic collusions and propose some indicators that assess the level of collusive co-operation among oligopolists. We investigate the case where the strategic variables of the oligopolists are amounts of supplies per unit of time (typically, one year) and where the unit price is specified as an equilibrium point between supply and demand. Alternatively, we also investigate the case where the unit price is a result of collusive agreements of some or all oligopolists. The...

Nová ekonomika: sociálně ekonomické implikace, implikace pro statistiku

The new economy: socioeconomic implications, implications for statistics

Jiří Křovák

Politická ekonomie 2002, 50(1) | DOI: 10.18267/j.polek.347

The article attempts to provide a definition of a still not well-defined concept of the new economy. It deals with characteristic features of the new economy and its socioeconomic implications. Empirical evidence on the existence of the new economy is presented. Importance of information and communication technologies (namely internet and e-commerce) for the new economy is stressed and documented. Some myths about the new economy are clarified, and implications of the new economy for economic policies and statistics are described.

Debata o socialistické kalkulaci a její vliv na vývoj rakouské školy

The socialist calculation debate and its impact on the development of the austrian school of economics

Milan Říkovský

Politická ekonomie 2002, 50(1) | DOI: 10.18267/j.polek.348

The paper presents the debate over economic calculation under socialism that took place in the interwar period. The author explains why and how important was the debate for the history of economic thought. The main conclusion of this article is that the debate was not only an important episode for its own sake. The paper exemplifies that the socialist calculation debate played an important role as a catalyst in the development and articulation of the modern Austrian view of the market as a competitive enterpreneurial process of discovery.

Monetary policy instruments used in Slovenia

Mejra Festić

Politická ekonomie 2002, 50(1) | DOI: 10.18267/j.polek.349

There was a need to establish an independent central bank and effective instruments after getting independent. Slovenia dismissed the non-market instruments of monetary policy that were used in the former Yugoslavia. Old, selective instruments of monetary policy were replaced by new instruments: open market policy, lombard loans, bills with warrants, twice bills, foreign currency bills, minimum reserve requirements. Slovenia has to use open market policy instruments as the core instrument, refinancing policy should have a safety valve function to satisfy unexpected needs for the central bank money.

Príspevok k teórii optimálnej kapitálovej štruktúry podniku

A contribution to an optimal capital structure theory of an enterprise

Rudolf Sivák, Jana Mikócziová

Politická ekonomie 2002, 50(1) | DOI: 10.18267/j.polek.350

The problem of optimal capital structure of an enterprise and its impact on the market value and the overall financial costs of an enterprise have been in the centre of attention of the corporate finance theory and practice already for some decades. The capital structure optimisation is relatively a complex issue. Modigliani and Miller defined the theory principles. Other model approaches (trade-off model, hierarchic order theory, information asymmetry models) are mostly aimed at the definition of an optimal ratio of debt with a fixed interest rate over equity. The application of different model approaches is very difficult in practice, but it is very...

Prvních sto třicet let vysokoškolské výuky ekonomie v českých zemích

The first hundred thirty years of university economic teaching in czech lands

Jaroslav Krameš

Politická ekonomie 2002, 50(1) | DOI: 10.18267/j.polek.351

The article describes the tradition of teaching economics in the first hundred thirty years of its history since it was introduced as a subject of university studies. Attention is paid to the relation between development of the content of teaching and history of economic thinking. A diversity of the forms of teaching economics is also described with focus on lectures, seminars and examinations. Another topic is the number of students, relations between teachers and students and availability of textbooks and other economic literature. Special attention is paid to the history of textbooks and to pedagogic personalities. The history of teaching and its...