Politická ekonomie, 2007 (vol. 55), issue 2

Ekonomie a štěstí: proč více někdy není lépe

Economics and Happiness: Why More is Sometimes not Better

Lubomír Mlčoch

Politická ekonomie 2007, 55(2):147-163 | DOI: 10.18267/j.polek.594  

The author raises doubts about a sense of "catching up" and an idolatry of HDP's growth. His argumentation is based on the longitudinal international research of the link "economics-happiness" at the frontier between economics and psychology. The rationality of economic science "more is better" is bounded by environmental and relational externalities: it is just what a "theory of happiness" argues against a "joyless economy". The family-household is an old istitution esp. loosing in a competition with the market economy. The article stresses a role of "relational goods" explaining why more is sometimes less. The loss of happiness in market democracies...

Podmínky podnikání v české republice při hodnocení institucionální kvality

Doing Business in the Czech Republic - an Assessment of Institutional Quality

Anna Kadeřábková, Václav Šmejkal

Politická ekonomie 2007, 55(2):164-182 | DOI: 10.18267/j.polek.595  

The paper presents results of World Bank survey in 2005 undertaken within the project Doing Business, with special regard to the Czech Republic position. Doing business conditions are assessed particularly according to the regulation burden and its impacts on entrepreneurship. The structure follows ten indicators of doing business conditions covered in the survey in 2005: starting and closing a business, dealing with licenses, hiring and firing workers, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts. The paper includes explanation of the specific features of the Czech Republic legislation,...

Monetární teorie cyklu, dluhový problém a finanční krize

Monetary Cycle Theory, Debt Problem and Financial Crises

Pavel Dvořák

Politická ekonomie 2007, 55(2):183-205 | DOI: 10.18267/j.polek.596  

In attempts to explain the mechanism of a financial crisis of the third generation, the basic problem is to specify the basic causes of its emergence. In the text of the paper we have formulated a hypothesis saying that the basic cause of the emergence of a systemic financial crisis of the Asian type is an overall unsound indebtedness, initiated - using the terminology of a monetary theory of cycles - by malinvestment, caused by an excessive credit boom. If these investments are financed through credits, their systematic liquidation leads not only to recession, but also to the development of unsound indebtedness and to a massive credit non-reimbursement....

Reálná a nominální konvergence v zemích středoevropské pětky

Real and Nominal Convergence of the Cee Countries

Růžena Vintrová

Politická ekonomie 2007, 55(2):206-225 | DOI: 10.18267/j.polek.597  

This paper deals with the narrowing the income gap between the Central and East European New Member States (NMS-5) and the EU-25 and with the trade-off between the real and nominal convergence. The methodology is based on international standards enabling comparisons of macroeconomic indicators, especially of GDP per capita in purchasing power parity and alternative indicators of real gross domestic income, which comprises gains or losses from the terms of trade changes. In the chapter 1 the changes in catching-up and in the position of the NMS-5 economy within the framework of EU-25 are analysed. Chapter 2 deals with the trade-off between the real...

Jednoduchý model interakce CPI a PPI: aplikace na měsíční data zemí EU

A Simple Model of Interaction Between CPI and PPI: Application to Monthly Data of EU Countries

Petr Kadeřábek

Politická ekonomie 2007, 55(2):226-244 | DOI: 10.18267/j.polek.598  

We consider two markets in our model: wholesale, where producers' supply interacts with distributors' demand, and retail with distributors' supply and consumers' demand. The wholesale market determines the producer price index (PPI), production and indirectly also employment. In the retail market the consumer price index (CPI) is formed. We specify a simple dynamic model with two state variables: CPI and PPI. Real variables - production and employment - are fully determined by CPI and PPI. A supply shock shows itself in instant PPI adjustment, a demand shock in CPI. Thus, in the CPI inflation equation the supply shocks are fully determined endogenously...

Faktory ovplyvňujúce rozhodovanie o spôsobe zabezpečovania služieb vo veľkých slovenských mestách

Factors Influencing Decisions on Services Provision in major Slovak Cities

Emília Sičáková-Beblavá, Miroslav Beblavý

Politická ekonomie 2007, 55(2):245-262 | DOI: 10.18267/j.polek.599  

The article deals with structural factors affecting decisions about the provision of services in large Slovak cities. In addition to introducing an economic model based on transaction cost theory, models of political decision making regarding the provision of services by cities (ideological model, public choice theory and political risk-aversion model) are described. The article concentrates upon decisions regarding the provision of seven selected services in eight major Slovak cities. In addition to collecting data on the means of providing the selected services, relevant decision makers about the perceived asset specificity and about the measurability...

Operabilita pojmu tržní hodnoty v intencích standardizace oceňování

To the Operability of Market Value in Terms of Standardization of Valuation

Tomáš Krabec

Politická ekonomie 2007, 55(2):263-274 | DOI: 10.18267/j.polek.600  

The text considers one of the prevailing dilemmas for the time being practical valuers of assets are exposed to - the operability of market value in terms of International Valuation Standards. The issue is considered theoretically, practical impacts are outlined as well. Considering the microeconomic basis of market structure and price determination, the prerequisites for an "objective" market value are summed. The International Valuation Standards are explained as an evolutionary evolved institution, which suffers under deep impact of neoclassical methodology. At the end there are drawn some conclusions for the regulation of valuation in the Czech Republic.