Politická ekonomie, 2002 (vol. 50), issue 6
Articles
Rozšiřování eurozóny: některá rizika pro dohánějící země
Eurozone enlargement: some risks for catching-up countries
Stanislava Janáčková
Politická ekonomie 2002, 50(6) | DOI: 10.18267/j.polek.385
Accession countries are bound by EU rules to enter the eurozone after they have fulfilled the Maastricht criteria. Yet for many years, the eurozone will not constitute an optimum currency area for the new members. There are additional risks connected with low relative economic levels - as well as low relative price levels - of the new candidates. Catch-up will require fast productivity growth and will entail inflation rates well above present eurozone targets. The shares of the new countries in the HCPI index will be relatively low but in sum, and together with present eurozone members with higher-than-average inflation, they could pose a threat for...
Transmise klíčových úrokových sazeb v české ekonomice
Transmission of the key interest rates in the czech ekonomy
Zdeněk Dvorný
Politická ekonomie 2002, 50(6) | DOI: 10.18267/j.polek.386
The presented study is an empirical investigation of interest rates transmission on the Czech financial market. Transmission was simulated by means of VAR model, built up to evaluate an impact of impuls change of one interest rate on the behaviour of the others in the given sample. The study shows that transmission from repo rates through PRIBORs to the yields on treasury bills can be determined. Next, transmission from repo rates to short interbank rates was proven as an important channel used by the Czech National Bank to stabilize unfavourable development on the money market in the middle 1997.
Světová 'únava z pomoci' a ekonomika České republiky
The global 'donor fatigue' and economy of the Czech Republic
Jiří Fárek, Jaroslav Foltýn
Politická ekonomie 2002, 50(6) | DOI: 10.18267/j.polek.387
This article describes gradual but visible slowdown in development assistance provided by advanced countries for developing and transitional economies during the 1980s and 1990s. The anticipated peace dividend has not been replaced by the increase of ODA and the other forms of aid after the cold war's end. Some probable reasons are discussed in the second part, but found questionable, at least partially. These are regional crises since 1994, transformation costs in some former socialist countries and the low efficiency of aid due to widespread corruption, bad distribution etc. The transitional economies generally did not properly use some comparative...
K problému asymetrie informace v pojišťovnictví
Observations regarding the issue of asymmetric information in insurance
Jaroslav Daňhel
Politická ekonomie 2002, 50(6) | DOI: 10.18267/j.polek.388
The 2001 Nobel Prize award to three American scientists for their theoretical contribution to analysis of markets with asymmetrical information has reawakened debates on the behavior and decision-making of economic players under uncertainty. Because insurance is a classic example of such a situation, it is used to illustrate the cases of asymmetry, for the client is supposed to know better his own exposure than the insurer. In fact, the client's objective exposure a priori cannot be quantified from the point of view of exact sciences and his decision is further influenced by psychological or sociological factors. The insurer is better equipped to make...
Může být pronatalitní politika účinná?
Can pronatalist policy be effective?
Marek Loužek
Politická ekonomie 2002, 50(6) | DOI: 10.18267/j.polek.389
The article is concerned with pro-natalist policies, examining empirically their effectiveness. There are proposed four hypotheses: 1. Continuous decline of the birthrate, 2. Adaptive model, 3. Natural-rate-hypothesis and 4. Crowding-out-hypothesis. Nine countries are tested: Germany, Italy, Sweden and France before World War II and Romania, Bulgaria, Czechoslovakia, Hungary and East Germany during the communism. Best empirical results arise from the crowding-out-hypothesis. Good results follow from the adaptive model and the continuous decline of birthrates. The natural-rate-hypothesis has small explanational power. Pronatalist policies, according...
K Rothbardovu pojetí ekonomie
Concerning the concept of murray n. Rothbard's economics
Jiří Řezník
Politická ekonomie 2002, 50(6) | DOI: 10.18267/j.polek.390
The commentary on the Czech translation of selected works of M. N. Rothbard analyses Rothbard's conception of an individual, society, utility, state, taxes as well as economics in order to investigate, whether the author cannot arrive at fallacies within framework of his programme (the destruction of the state and government). But in fact, no state can protect individuals. Governments can only protect a certain level of relations between individuals on a specific territory, can and must be able to make choice between a protection of the individuals and a protection of the territory. Thanks to this choice, an efficiency of governmental activities can...
Ekonomie strany nabídky a ekonomická úroveň
Supply-side economics and economic level
Jaromír Hurník
Politická ekonomie 2002, 50(6) | DOI: 10.18267/j.polek.391
This article analyses the impact of different types of taxes on economic growth. Taking into account inter-temporal substitution we develop an economic model originally stemming from the Ramsey model. Using the dynamic optimization we search the balanced trajectories of consumption and capital stock to the new steady state after tax adjustment. The results show the negative impact of tax on capital on economic growth. The impact of consumption tax and payroll tax depends on the concrete parameters of the utility function of the representative agent, exactly on agent's evaluation of consumption and leisure. The influence of low taxes on economic growth...