Politická ekonomie, 2004 (vol. 52), issue 4

Evropská měnová unie a rizika pro reálnou konvergenci

European monetary union and risks for real convergence

Kamil Janáček, Stanislava Janáčková

Politická ekonomie 2004, 52(4):433-447 | DOI: 10.18267/j.polek.468  

New members of the EU will not form an optimum currency area with the present eurozone member states. The article discusses some costs and benefits of an early EMU entry for the Czech Republic (and other Central-European economies). The authors concentrate on the consequences of loss of country-specific monetary policy, and of exchange-rate flexibility. They also stress the problem of finding the appropriate level at which to fix the exchange rate for both ERM-II and eurozone entry. The importance of both nominal and real convergence is underlined for a successful catch-up. The conclusion is that a "no hurry" policy for euro would be beneficial for...

Politická ekonomie investičních pobídek

Political economics of investment incentives

Miroslav Plojhar, Martin Srholec

Politická ekonomie 2004, 52(4):449-464 | DOI: 10.18267/j.polek.469  

The paper focuses on selective investment incentives, which are aimed primarily to attract foreign direct investment, in the context of the new EU Member States, namely the Czech Republic, Hungary, Poland and Slovakia. We discuss the issue within three closely related dimensions. We point to a potential conflict of interests between host country governments and multinational companies in promoting technology spillovers from foreign direct investment in the host economies. We examine the prisoner dilemma of the host governments in mutual competition for mobile direct investment and a room to achieve multilateral or strengthening regional agreement on...

Vliv přijetí Společné zemědělské politiky Evropské unie na rozvoj české ekonomiky

The adoption effect of Common agricultural policy of the European union at development of the czech economy

Tomáš Ratinger, Zdeněk Toušek

Politická ekonomie 2004, 52(4):465-481 | DOI: 10.18267/j.polek.470  

The objective of this paper is to demonstrate some economywide effects of the adoption of Common Agricultural Policy. The general equilibrium approach is applied. The model is designed as a static computable general equilibrium one. The model structure reflects basic neoclassical assumption, i.e. producers maximize their profit and consumers maximize utility while the government wishes to balance its budget. The scenarios follow the debate about the extent of CAP available for candidate countries. Selected macro and sectoral economic indicators are used to assess the magnitude of scenarios impacts on the national economy. Model simulations indicate...

Postavenie fúzií a akvizícií v globalizácii svetového hospodárstva

Mergers and acquisition in the globalization of the world economy

Peter Baláž

Politická ekonomie 2004, 52(4):503-520 | DOI: 10.18267/j.polek.471  

This article is oriented on the analyses of the development of the mergers and acquisition process. The author shows the main reason and motivations of expansion MA and its influence on the globalization of the world economy. This activity is (in the time and the territory) very different and heterogeneous. The leading players of his process are the multinational corporations, however, the value of deals of SME's is going up, too. In the last years these activities concern to the change of strategy of MNC's, first of all to the supporting of cooperation among them. The latest period is under the increasing pressure of the development of the international...

Ekonomická analýza práva

Economic analysis of law

Robert Holman

Politická ekonomie 2004, 52(4):519-531 | DOI: 10.18267/j.polek.474

Economic analysis of law concerns predicting impacts of legislative rules on incentives and behaviour of individuals and judging social efficiency of alternative legislative rules. It applies price theory, welfare theory and public choice theory on creating and applying law. One of its main shortcomings however is the lack of criteria of social efficiency. Modern history of economic analysis of law begins within the framework of property rights and transaction costs theories. The Chicago school has been the most prominent group of economists. Austrian school and New institutional school compete with Chicago school in applying different methods of economic...

Implementace mikroekonomické teorie ekonomické efektivnosti do teorie podnikohospodářské

The implementation of the microeconomics theory of the economic efficiency to the business economics

Petr Suchánek

Politická ekonomie 2004, 52(4):521-530 | DOI: 10.18267/j.polek.472  

The topic of this paper is concerned in a possibility of connection of the micro- economics theory and the business economics theory. The goal of the submitted paper is an implementation of an economic efficiency as a microeconomic component to the business economics with a regard for an economic practice of companies in the Czech Republic. I use an analogy of the microeconomics and the business economics concept of total revenues and total costs to this implementation. The main of the text is reserved to opportunity costs because it is fitting to total economic costs from a point of view of business economics theory and practice is complicated. On...

Ražebné ve spojitém čase

Seigniorage in continuous time

Petr Mach, Tomáš Hanzák

Politická ekonomie 2004, 52(4):531-536 | DOI: 10.18267/j.polek.473  

The government is able to acquire real goods through printing money. Because government does not create wealth through printing money, this revenue, the seigniorage, is at the expense of the public, as the purchasing power of monetary units decreases because of the issue of new money. The authors use the model of auctions to which the public comes with their money and the government with the newly issued money. The value of goods acquired by the government in such an auction equals the newly printed money divided by the sum of the newly printed money and the money spent by the public. Upon this auction model, the authors develop the formula for seigniorage...

Současné trendy v historiografii ekonomie

Current trends in the historiography of economics

Michal Brzezinski

Politická ekonomie 2004, 52(4):543-560 | DOI: 10.18267/j.polek.476

This paper surveys some ongoing changes in the historiography of economics. I argue that there is a close connection between a decline of prescriptive economic methodologies based on the positivist philosophy of science and the emerging tendency to write history of economics in a non-Whig way. This "new history" uses historical rather than rational reconstruction method of narration and draws heavily on recent works in sociology of scientific knowledge, science studies, literary theory and general historiography of science. I present main features of this approach as exemplified in some recent works concerned with the influence of mathematics and natural...

Soudobá makroekonomie a teorie optimálního řízení

Contemporary macroeconomics and optimal control theory

Michal Slavík

Politická ekonomie 2004, 52(4):551-561 | DOI: 10.18267/j.polek.475  

The paper presents the optimal control theory and the maximum principle technique that is suitable for solving dynamic optimalization problems in continuous time. Modern mainstream macroeconomics stresses microeconomics principles of solved problems. However, the application of the standard microeconomic approach - the static optimalization - needs to be replaced in macroeconomics by more sophisticated methods. The maximum principle is one of the possible tools. This text briefly introduces the basics of this method to Czech readers. More detailed treatment can be found in the original literature. The maximum principle method can be applied not only...