Politická ekonomie, 2014 (vol. 62), issue 2

Articles

Horizont daňové politiky v zemích OECD

Tax Policy Horizon in the OECD Countries

Igor Kotlán, Zuzana Machová

Politická ekonomie 2014, 62(2):161-173 | DOI: 10.18267/j.polek.944  

This aim of the article is to determine the optimal tax policy horizon, and thus its strongest impact on economic growth in OECD countries. From a methodological point of view, the empirical analysis is based on a dynamic panel model, in which the data for the OECD countries in the period of 2000-2011 are used. The results confirm the economic theory about the negative impact of taxes on growth and show that the tax policy infl uences the growth the strongest with the 2-3 years lag. The analysis also confi rms that permanent tax changes in sense of increased taxation may not be as negative for growth if they are accompanied by effective tax collection...

Odhad vplyvu fiškálnej konsolidácie na rast HDP v SR

Estimated Impact of Fiscal Consolidation on GDP Growth in the Slovak Republic

Monika Pécsyová

Politická ekonomie 2014, 62(2):174-193 | DOI: 10.18267/j.polek.945  

The Slovak economy is experiencing another significant phase of fiscal consolidation in its history. Unlike previous episodes of major consolidation in our history, our economy cannot "rely" on a soft cushion in the form of favourable global economic situation, integration and launch of new capacities in the automotive industry, as it was in 2003-2005 and 2011. The main objective of this paper is to estimate the size of fiscal multipliers in Slovakia in order to quantify the impact of fiscal packages in 2011 and 2013. The results show that the expenditure oriented consolidation has higher costs in form of lost growth. However, in the medium to long...

Kompozitné predstihové indikátory hospodárskych cyklov krajín V4 a ich komparácia s CLI Eurostatu a OECD

Composite Leading Indicators of Economic Cycles of V4 Countries and their Comparison to the CLI of the Eurostat and the OECD

Emília Jakubíková, Andrea Tkáčová, Anna Bánociová

Politická ekonomie 2014, 62(2):194-215 | DOI: 10.18267/j.polek.946  

This article's objective is to suggest and create the composite leading indicators and their importance for monitoring in a short term prediction of economic cycles in the V4. We describe in detail the methodologies of OECD and Eurostat, which deal with the prediction of the economic cycles in the V4 countries through CLI. The relation of 475 selected economic indicators and reference series, which represent the economic cycle of the V4 countries, is analyzed in the empirical part of this article. Based on the performed analysis, we define groups of leading, parallel and lagged indicators. We choose those leading indicators that are the most appropriate...

Hodnota statku kolektivní spotřeby

Value of Collective Consumption Goods

Beáta Mikušová Meričková, Jan Stejskal

Politická ekonomie 2014, 62(2):216-231 | DOI: 10.18267/j.polek.947  

The goal of this paper is to develop the theoretical framework of the public goods provision. This theoretic contribution is based on the critical analysis of mainstream economics theories dealing with public goods as market failure (neoclassical economics and neoliberalism) and on the results of own economic experiment examining the "free-riding" behaviour in the voluntary provision of public goods. The "free rider" problem is one of the main reasons for government intervention in the market. However, there is an inefficiency of public decision making on public provision and financing of selected goods because of the estimating goods values (ex-post...

Modelování budoucího vývoje úhrnu pojistného a úhrnu vyplacených starobních důchodů v ČR

Modelling of the Future Development of the Total Amount of Premium Paid and Total Amount of Old-Age Pensions in the Czech Republic.

Tomáš Fiala, Jitka Langhamrová

Politická ekonomie 2014, 62(2):232-248 | DOI: 10.18267/j.polek.948  

The paper present a simple model of the future development of incomes and expenses of the old-age pension system in the Czech Republic (so called 1st pillar). The projection is based on the results of the latest available population projection published by the Czech Statistical Office in 2013. The expected number of employees (payers of the old-age insurance premium) is estimated on the basis of the sex and age structure of people in productive age and expected employment rates. All people at the age higher than retirement age are expected to receive old-age pension. The permanent increase of retirement age according to the present legislation is assumed....

Subjektivní blahobyt v České republice a střední Evropě: makro- a mikro-determinanty

Subjective Well-Being in the Czech Republic and Central Europe: Macro- and Micro-Determinants

Jiří Večerník

Politická ekonomie 2014, 62(2):249-269 | DOI: 10.18267/j.polek.949  

The article documents the development of life satisfaction in four transitional Central European countries since 1991, in comparison with Germany and Austria. After presentation of data sources and the overview of the literature regarding the effect of transition on life satisfaction, surveys of European Values Study 1991, 1999 and 2008 are analysed together with macroeconomic data. First, satisfaction levels are correlated with GDP and then, individual characteristics of income, gender, education and family status are regressed to as explanatory variables of life satisfaction. While the explanatory power of GDP is found as very weak for the entire...

Consultations

Pomoc ohroženým bankám - teorie, realita a měnové dopady

Assistance to Troubled Banks - Theory, Reality and Monetary Implications

Zbyněk Revenda

Politická ekonomie 2014, 62(2):270-288 | DOI: 10.18267/j.polek.950  

The recent financial crisis has significantly modified the approach to helping troubled banks. The traditional role of the central bank has shifted toward non-credit forms of assistance, provided mainly by the state, and even toward assisting insolvent banks. State assistance - directly or through specialized institutions - mainly concerned banks too big to fail, i.e. systemically important banks. State aid should be forthcoming only once funds available from shareholders, owners of subordinated debt and uninsured depositors have been exhausted. Credit by a central bank should be granted only to temporarily illiquid banks. Primarily as this credit...

From scientific life

Mezinárodní konference OECD Forum 2013

International Conference OECD Forum 2013

Slavoj Czesaný

Politická ekonomie 2014, 62(2):289-296 | DOI: 10.18267/j.polek.951  

From economic literature

Komplexní a kritický pohled na problematiku Evropské ekonomické integrace

Complex and Critical View on European Economic Integration

Lubor Lacina

Politická ekonomie 2014, 62(2):297-300 | DOI: 10.18267/j.polek.952