Politická ekonomie, 2001 (vol. 49), issue 2

Articles

Mix monetární a fiskální politiky v České republice: empirická verifikace modelu efektivní tržní klasifikace

Monetary and fiscal policy mix in the Czech Republic: empirical verification of the principle of effective market classification

Martin Mandel, Vladimír Tomšík

Politická ekonomie 2001, 49(2) | DOI: 10.18267/j.polek.205

Monetary and fiscal policy should be paired with the economic objectives on which they have the most influence. The authors have transformed this traditional Mundell's principle of effective market classification into the conditions of the Czech economy - a small open economy with controlled floating exchange rate system and high inflow of foreign direct investment. An empirical verification confirmed the requirement of the modification of this principle in the CR. An application of the modified model in the CR resulted in the following recommendation for the Czech economic policy mix: monetary policy should control the external balance and fiscal...

Ekonomická a právní analýza nezávislosti a odpovědnosti centrálních bank

Economic and legal analysis of independence and accountability of central banks

Ilona Bažantová, Marek Loužek

Politická ekonomie 2001, 49(2) | DOI: 10.18267/j.polek.206

The first part defines the terms "independence" and "accountability" and asks whether there is a direct or indirect relation between them. The second part brings quantification of central bank's institutional arrangements both in developed and transition economies. The third part describes theoretical foundations of central bank independence and accountability and analyses empirical research on this topic. The fourth part inquires the model of institutional arrangement in which the central bank has the completed operational independence but it has the limited goal independence (monetary policy's goals are set in agreements between the government and...

Česka koruna nebo euro?

Czech crown or eur?

Antonín Rusek, William A. Ward

Politická ekonomie 2001, 49(2) | DOI: 10.18267/j.polek.207

Moderate recovery of Czech economy in the first half of 2000 raises a question whether it is the beginning of a new era of economic growth or a mere cyclical motion. The balance of payments is the main obstacle of permanent economic growth; domestic savings should be increased substantially to tackle with it. Czech economy after the year 1993 is analyzed in this article while the balance of payments is identified as the main obstacle of permanent growth, and it is explained why the adoption of a foreign currency (EUR) would overcome this obstacle.

Vliv osobních a finančních nákladů na podniky

The impact of labour and financial costs on firms

Vladislav Flek

Politická ekonomie 2001, 49(2) | DOI: 10.18267/j.polek.208

A simple model is developed with the aim of testing the efficiency of cost control in the key branches of Czech entrepreneurial sector (labour and financial costs are solely subject to analysis). In the period 1996 - 1999 the share of profits and depreciation in value added increased sligtly, predominantly due to a relative decrease in financial cost. At the same time, the impact of labour costs control on enterprise recapitalisation was rather insignificant. In general, producers failed in enforcing such a level of profitability which would a) diminish dramatically their dependecy on external financial resources; b) increase the attractiveness for...

Agrární struktura v České republice - současný stav a předpoklady dalšího vývoje

Agriculture structure in the Czech Republic - present state and outlook of its development

Emil Divila

Politická ekonomie 2001, 49(2) | DOI: 10.18267/j.polek.209

The bulk of agribusiness enterprises in the CR are operations of artificial persons with production concentration. Businesses of natural persons farming on a great portion of farm land are also of large size. Businesses of smaller size, mostly using the family labor, largely prevailing in EU and receiving support from EU funds, are farming on a relatively small portion of land. This could have restrictive impacts on the availability of relevant support to Czech farmers after accession to EU. Further development of agriculture structure in the CR will constantly be influenced by competition of businesses of different type. The development will be affected...

O jednom z možných scénářů reformy penzijního systému v České republice (polemika)

On one of possible scripts of pension system reform in the Czech Republic (polemic)

Vladimír Bezděk

Politická ekonomie 2001, 49(2) | DOI: 10.18267/j.polek.210

This article represents a critical response to the paper of J. Kubalčík and R. Zbořil published in Politická ekonomie, 2000, No. 4. It reviews some of the authors' assumptions and conclusions regarding the pension system reform in the Czech Republic. The attention is put on some macroeconomic issues as savings, labour market and tax systems with respect to the pension system reform. Also the microeconomic aspects are significant and should be taken into account when discussing the pension system reforms. The article concludes that pension system reform is a very difficult and complex task. That is why it is highly recommended to develop more detailed...

Protekcionismus: ptolemaiovský systém populární ekonomie

Protectionism: "ptolemaic" system of popular economics

Dan Šťastný

Politická ekonomie 2001, 49(2) | DOI: 10.18267/j.polek.211

The paper points out the blatant discrepancy between economic theory and economic policy on the question of protectionism. From the Austrian perspective, it tries to identify flaws in the most frequently used arguments in favor of protectionism: unemployment; balance of payments (deficit of); reciprocity; dumping (protection against); optimum tariff and infant industry. It concludes by noting that in spite of centuries of trying, economists haven't succeeded in eradicating the myths about protectionism and that these old myths are still present in most public discussions on the trade issues.

Ekonomická věda a hospodářská politika

Economics and economic policy

Radek Adamec

Politická ekonomie 2001, 49(2) | DOI: 10.18267/j.polek.212

The article is trying to introduce and defend the thesis that economic policy way not follow the theoretical foundations of economics but the development of economic theories from a number of reasons rather follows the practical outcomes of their "application" in economic policy than the opposite. The major criterion for the evaluation of an economic theory is it's success (or failure) when it can be seen as if it was "applied", i.e. only the potential of the application legitimises the economic theory (in opposite to "the empirical legality" in natural sciences) to becomes a popular and respected part of our scientific knowledge. Such an argument...

Analýza ekonomického výzkumu

Analysis of economic research

Tomáš Cahlík

Politická ekonomie 2001, 49(2) | DOI: 10.18267/j.polek.213

George J. Stigler in his Nobel price lecture in 1982 suggested to apply the ideas of economics of information on the market of new ideas of economic science. On the border between the economics of information and some other social sciences, co-word method and citation analysis are proposed for searching fundamental research themes and fundamental articles. In this article, these methods are applied to economics.

Consultations

Počátky ekonomického myšlení v českých zemích

Beginnings of economic thinking in the czech lands

Jaroslav Krameš

Politická ekonomie 2001, 49(2) | DOI: 10.18267/j.polek.214

Economic thinking in the Czech Lands was closely related to development of economic thinking in the whole Austria, being based on mercantilism. Its Central-European form was cameralism focused on the building of a modern state. Its Czech representatives, e.g. P. H. Morgentaller, F. Š. Malivský and J. K. Bořek, became famous for their grandiose projects of economic advancement of the country. Political sciences that were intended for clerk education originated at the era of enlightenment; their final goal was the growth of population and/or employment. Prominent representatives were J. I. Butschek and L. L. Schultz. At the end of the 18th century, A....