Politická ekonomie, 2000 (vol. 48), issue 5

Articles

Tři roky po měnové krizi: rekapitulace událostí a jejich souvislostí

Three years after the exchange rate crisis: recapitulation of events and their connections

Václav Klaus

Politická ekonomie 2000, 48(5) | DOI: 10.18267/j.polek.169

The article describes economic and political events that preceded and followed the exchange rate crisis in May 1997 and analyses the main causes and consequences. Years 1994 - 1995 are viewed as a period of high economic growth and rate of investments combined with growing external disequilibrium which manifested itself in deteriorating balance of trade. Maintaining fixed exchange rate and liberalization of capital flows helped to create a speculative "bubble" which finally led to speculative attack on crown.The role of monetary policy is discussed in context of the government "packages" in spring 1997 which were aimed at maintaining the balanced...

Příčiny a průběh měnových turbulencí v České republice v roce 1997

Oldřich Dědek

Politická ekonomie 2000, 48(5) | DOI: 10.18267/j.polek.170

česká dezinflace a hrubý domácí produkt

Czech disinflation and gross domestic product

Vratislav Izák

Politická ekonomie 2000, 48(5) | DOI: 10.18267/j.polek.171

The first part of the paper characterizes the main features of the czech macroeconomic development in the time period 1995:I - 1999:III. Cross-correlograms of net inflation, adjusted inflation and producer price index on the one side and explanatory variables: wage gap, broad money, nominal rate of exchange and index of world prices of raw materials and foodstaffs on the other side show the correlations with different time lags.In the second part the dynamic model for an open economy with government sector has been constructed and several simulation exercises imitating Czech macroeconomic development have been made. The role of the slope of the...

Cílování inflace: teorie a praxe

Inflation targeting: theory and practice

Michal Kvasnička

Politická ekonomie 2000, 48(5) | DOI: 10.18267/j.polek.172

The paper describes inflation targeting, and tries to emphasize a difference between the theory and the practice. The strategy is highly demanding of information, and thus hard to implement reasonably in practice. Flexible inflation targeting doesn't fix inflation expectations. Its global application is dubious too. Inflation targeting is not suitable for transitive economies since there cannot be satisfactory long-run prediction model at the disposal of the central bank.

Cenová konvergence k evropské unii - problém relativních cen

Price convergence to the european union - a problem of relative prices

Tomáš Holub, Martin Čihák

Politická ekonomie 2000, 48(5) | DOI: 10.18267/j.polek.173

The article analyses the process of price convergence of the Czech economy to the EU. The authors stress, that the problem consists primarily in the convergence of relative prices in the Czech Republic, not in the convergence of average price levels. The authors define a "coefficient of relative price differences" to measure the scale of the relative price convergence problem. They conclude that this coefficient is still much larger in the Czech Republic than even in the least developed countries of the EU. If prices are downward sticky, relative price convergence can come about more easily at a higher inflation rate than is prevailing in advanced...

Sektor bydlení a evropský přizpůsobovací proces

Housing sector and the european adjustment process

Martina Hábová

Politická ekonomie 2000, 48(5) | DOI: 10.18267/j.polek.174

This paper try to move the discussion on housing/real estate sector effects on economies, and their adjustment, upwards from the national to the international level. The recent discussion on the single currency implementation in the process of creating the EMU has de-emphasized, or often ignored, the role of production factors, consumption, facilities or assets which are characterized by a fixed spatial location. But spatially fixed factor markets play a key role in how European economies adjust after their integration in EMU and in the process of changing their status of "nations" to "regions", as well. Housing arrangements in Europe are likely to...

Regionálna analýza pomocou samoorganizujúcich sa máp

Regional analysis using self-organizing maps

Lucius Chudý, Igor Farkaš

Politická ekonomie 2000, 48(5) | DOI: 10.18267/j.polek.175

Exploratory analysis of financial and economic data is being accepted as a very valuable and important stage of solving of majority of financial and economic tasks. We introduce a short overview of neural network approaches and applications in the financial and economic domain. Self-organizing map (SOM) used provides a unique and integrating neural network approach for proper and effective initial analysis of multidimensional financial and economic data. We provide a brief sketch of the basic types of analysis by means of SOM and illustrate their use on analysis of Slovak regions in terms of their budget income and expenditure data.

Schodky veřejných rozpočtů a změny jmění sektoru vládních institucí

Jaroslav Jílek, Bibiana Jílková

Politická ekonomie 2000, 48(5) | DOI: 10.18267/j.polek.176

Consultations

Postkeynesovská ekonomie

Post-keynesian economics

Milan Sojka

Politická ekonomie 2000, 48(5) | DOI: 10.18267/j.polek.177

This article concentrates on the development of Post-Keynesian economics since 1950s, which is one of contemporary streams of keynesian thought. Post-Keynesian economics aims at building a new paradigma in economics on the bases of the original theories of J. M. Keynes and its perfecting by an alternative theory of distribution and price formation, and the theory of endogenous money supply. This work was begun by Italian-Cambridge school, and continues by their followers in the USA. Fundamental to this approach is the belief that we live in a monetary production economy where production takes time and uncertainty is pervasive. Economic events develop...

From scientific life

Ekonomie: proč učit, co učit, jak učit

Mojmír Helísek, Lubomíra Breňová

Politická ekonomie 2000, 48(5) | DOI: 10.18267/j.polek.178

From economic literature

Zdařilá publikace ze slovenské nabídky

Martin Mandel

Politická ekonomie 2000, 48(5) | DOI: 10.18267/j.polek.179

Nejucelenější práce o marketingu

Jana Boučková

Politická ekonomie 2000, 48(5) | DOI: 10.18267/j.polek.180

Kniha o marketingu pro manažery

Eduard Stehlík

Politická ekonomie 2000, 48(5) | DOI: 10.18267/j.polek.181