Politická ekonomie, 2002 (vol. 50), issue 2
Articles
Nová ekonomika a jej postavenie v globalizujúcom sa svetovom hospodárstve
New economy and its place in globalizing world economy
Peter Baláž, Peter Verček
Politická ekonomie 2002, 50(2) | DOI: 10.18267/j.polek.352
Proposed article is focused on new economy and its significance in global processes. Comming from theoretic opinions of economic prominents authors emphasize its impact on makro- and mikroeconomics while focusing on its effect on economic growth. In comparison with old economy, article mentions the role of technology, scientific and technological development, growth of productivity, competitivness and innovation and following necessary deep change in structure of world economy. It concerns to new phenomena which significantly effect development of international business, especially transition from competition between makro- and microeconomics to improving...
Co zbylo z nové ekonomiky?
What is left of the new economy?
Kamil Janáček
Politická ekonomie 2002, 50(2) | DOI: 10.18267/j.polek.353
There is no proof that a new paradigm of economic theory has been enthroned, rending old economic laws invalid. According to followers of the new paradigm, knowledge creation transformed into new products of information industries should bring increasing returns, accelerate growth to rates unseen in the past, ensure low inflation with full employment, and free the economy from the business cycle. They see a productivity increase of 3 - 4 % annually as sustainable in the long run. Critics of the new paradigm argue that productivity increase in the USA in the last decade was predominantly cyclical and will not be sustainable, that the information technologies...
Monitorování a analýza hospodářského cyklu
Monitoring and analysis of the business cycle
Slavoj Czesaný
Politická ekonomie 2002, 50(2) | DOI: 10.18267/j.polek.354
The aim of this article is to analyze trends of business cycle in the past decades. The main issues are following. Reasons of declining in economic activities. Special features of the postwar cycles. Causes of long-run changes in business cycle. Countercyclical policies. Impacts elements of new economy on the stages of business cycle. Methodological approaches to the monitoriong of business cycle at the level of the OECD and the EU countries.
Kapitálová výnosnost (možnosti využití produkční funkce pro ohodnocování firem v české ekonomice)
Capital yield (the possibility of using of production function for valuation of firms in czech economy)
Jan Kodera, Václava Pánková
Politická ekonomie 2002, 50(2) | DOI: 10.18267/j.polek.355
The aim of the article is to create a theoretical support for capital yield determination on the basement of neoclassical microeconomics. The yields of an industrial capital can be used as a discount factor in determination of the value of a firm by discounted cash flow methods. Following the neoclassical assumptions we know that firms are optimising their behaviour and hence they relate the desired capital stock to interest rates and employment to wage in the way of equalization of marginal products of capital and labour to interest rate and wage respectively. A methodology of measuring capital yields by the help of a production function of a sector...
Detekce a prognóza bodů obratu v ekonomickém vývoji
Detection and forecast of change-points in economic development
Richard Hindls, Stanislava Hronová
Politická ekonomie 2002, 50(2) | DOI: 10.18267/j.polek.356
The scope of this paper is to investigate the possibility of using probit analysis for the detection of change-points in economical development. The role of exogenous variables in this analysis is specified. The principal attribute of this contribution is the possibility of the prediction of change-points. The application is performed using real data of Czech economy.
Český vnitroodvětvový mezinárodní obchod a jeho vazby na trh práce
The czech intra-industry trade and its labor market determinants
Karel Janda, Daniel Münich
Politická ekonomie 2002, 50(2) | DOI: 10.18267/j.polek.357
This paper investigates the nature of the Czech intra-industry trade (IIT) and its labor market determinants. In the analysis of IIT its decomposition into vertical and horizontal components is used. The Czech Grubel-Lloyd Index of 75 % at the SITC 2 digit level is still somehow lower than the values for comparable EU countries, but this difference is not high. This indicates relatively high level of the Czech integration into the European and world economies. Also the structure of the Czech IIT with respect to its horizontal and vertical elements is comparable with the structure of IIT in EU countries. The results of cross-industry analysis of labor...
Možnosti experimentů se simulátorem tržní poptávky
The simulator of market demand: an alternative of consumer clinics
Jindřich Soukup
Politická ekonomie 2002, 50(2) | DOI: 10.18267/j.polek.358
Experimental methods are used to obtain primary demand data for the solution of business decision problems. Consumer clinics or simulated market situations are ranked among these methods. The functioning and the first results of the newly developed demand simulator are described in this article. The demand simulator has virtually enriched the consumer clinics by some options which are provided by ICT (including internet). For example, the process of finding values for coefficients of demand elasticity, analysis of current consumer preferences or consumers' general reaction to changes in specific promotional variables can be realised by the demand simulator.
Přímé zahraniční investice ve střední Evropě: vytěsňují nebo vtahují domácí investice?
Foreign direct investment in central Europe: does it crowd in or out domestic investment?
Jan Mišun, Vladimír Tomšík
Politická ekonomie 2002, 50(2) | DOI: 10.18267/j.polek.359
In this article, we tried to estimate whether foreign direct investment in the Czech Republic, Hungary and Poland crowds in or crowds out domestic investment. We used a model of total investment that introduced, from the point of view of the recipient country, foreign direct investment as an exogenous variable. We found that for the time period 1990 - 2000 there was an evidence of crowding out effect in Poland. In Hungary we found a crowding in effect for the time period 1990 - 2000 as well as for the Czech Republic for the time period 1993 - 2000.
Recese, deflace, bankovní krize a past likvidity v Japonsku
Recession, deflation, bank crisis and liquidity trap in Japan
Jan Frait, Martin Melecký, Helena Horská
Politická ekonomie 2002, 50(2) | DOI: 10.18267/j.polek.360
During 1990s' the economy of Japan slipped into a long-sustained recession with strong deflation pressures. The aim of the paper is not to analyse this particular development in detail. It focuses on some specific aspects of macroeconomic development of the Japanese economy that gave birth to a new wave of interest in some nearly forgotten pieces of Keynesian macroeconomics, instead. One of them is liquidity trap that was highlighted by Paul Krugman's writings in the Japan's case. The paper thus presents some of his rather unconventional opinions and confronts them with the Japan's economic developments in the last few years. The structure of the paper...
Consultations
Postkeynesovská teorie peněz - alternativní pohled
Post-keynesian theory of money - alternative view
Petr Sedláček
Politická ekonomie 2002, 50(2) | DOI: 10.18267/j.polek.361
The post-Keynesian theory is an alternative view on money. The assumptions of this theory are uncertainty, historical time and importance of money. The source of money is demand of businessmen and households for credits. Money is endogenous and is determined by its demand a pulled by credits. Post-Keynesian theory is not homogenous and therefore this article deals with a horizontal and structural view of endogenous money and views of post-Keynesian proponents considering money as partly endogenous and partly exogenous. Post-Keynesian theory does not present recommendations for overall economic policy - but among the most interesting are recommendations...