Template-Type: ReDIF-Article 1.0 Author-Name: Martina Jiránková Title: A Hegemonic and a Post-Hegemonic World Functioning and the New Global Monetary and Financial System Abstract: The article deals with the world functioning from the view of the hegemonic stability theory, which proposes that open international systems are connected with a dominant state existence, and possibly its post-hegemonic functioning in the form of country co-operation. The question is demonstrated on the example of the US dollar performing the role of the key world currency in both private and official use at present: it prevails in foreign currency transactions, in international reserves, in overseas bank deposits and loans, etc. Problems of the global economy, especially global imbalances, have led to suggestions by China, other countries and the International Monetary Fund to reform the global monetary order. These suggestions have taken the form of a multi-polar system of more currencies belonging to the economically most important countries (dollar zone, euro zone, Asian currency zone). Other suggestions include a system based on Special Drawing Rights, where a change ought to be made in the basket currencies adequately to the world economic situation, and a system of creating a new global currency. The advantages of a new global currency would be especially no connection to national economy developments, higher stability and no risk on assets denominated in this currency due to the highest rating. It is discussed which attitudes of the main countries such as the USA, BRIC and others could be possible in the view of the theories mentioned. Keywords: US dollar, hegemony, co-operation, key world currency, reform of the international monetary and financial system Classification-JEL: F33, F55, F59 Pages: 3-20 Volume: 2011 Issue: 6 Year: 2011 File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=348.pdf File-URL: http://www.vse.cz/aop/348 File-Format: text/html Handle: RePEc:prg:jnlaop:v:2011:y:2011:i:6:id:348:p:3-20 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlaop/references/348 Template-Type: ReDIF-Article 1.0 Author-Name: Eva Karpová Title: Public Debt in the Central and Eastern European Countries - Development in the Context of the World Economic Crisis Abstract: Many of the Central and Eastern European countries faced general government balance problems in the 1990s, already during their transition period. Moreover, these problems continued during their EU accession. After both the Eastern enlargements, the situation was improving and, besides, the general government debt were kept at low levels. Later on, however, the economic crisis brought serious difficulties to general government balances. General government debt were also increasing. The article brings an overview and comments on these facts in a macroeconomic context. (Figures and comments are primarily deduced from Eurostat and OECD sources.) Keywords: unemployment, economic crisis, Central and Eastern European countries, general government deficit/surplus, general government debt, external debt, GDP Classification-JEL: E50, H60, H61, H62, H63 Pages: 21-38 Volume: 2011 Issue: 6 Year: 2011 File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=349.pdf File-URL: http://www.vse.cz/aop/349 File-Format: text/html Handle: RePEc:prg:jnlaop:v:2011:y:2011:i:6:id:349:p:21-38 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlaop/references/349 Template-Type: ReDIF-Article 1.0 Author-Name: Radek Soběhart Author-Name: František Stellner Title: Future of Economic History at the Czech Universities Abstract: The article deals with the question of the present position of economic history as a theoretical framework of scientific specialization and university study branch in the Czech Republic. It focuses on the Central European tradition and analyzes reasons for the connection between economic and social history. It concentrates on the question whether economic history can exist as an autonomous discipline, on which theoretical basis economic history could be built, and from where to derive methodological inspiration. The authors claim that currently the social historians do not consider the connection with economic history as pivotal. They regard the position of economic history as inferior and according to them the dominant role of social history prevents them from dynamic methodological development. They believe that possible alternatives of the future development of economic and social history lie in three potential solutions: a) continuation of the current "defensive" concept of economic and social history; b) separation of economic and social history and their autonomous shaping; c) concept of "offensive" integrating socio-scientific approach. Keywords: economic history, history and theory, cultural history, social history, economic history in the Czech Republic Classification-JEL: N, N0, N00, N01 Pages: 39-45 Volume: 2011 Issue: 6 Year: 2011 File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=350.pdf File-URL: http://www.vse.cz/aop/350 File-Format: text/html Handle: RePEc:prg:jnlaop:v:2011:y:2011:i:6:id:350:p:39-45 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlaop/references/350 Template-Type: ReDIF-Article 1.0 Author-Name: Pavel Zimmermann Title: Possibilities of Individual Claim Reserve Risk Modeling Abstract: This article outlines possibilities of modeling the distribution of the future liabilities of an insurance company that stem from a past claim which has not yet been settled. Such a model might be used as a key component of the internal model of the reserve risk of an insurance company. It focuses on a probabilistic description of the settlement process of an individual loss, i.e., on the development of the incurred value over the lifetime of the loss. Such a model allows setting up an internal model based on an individual claim level instead of the aggregate claim level common nowadays. The proposed model respects two main restrictions given by potential industrial usage: Firstly, the model is set up in such a way that necessary data can be assumed to be available from a practical point of view. Besides that, potential requirements on the complexity of the model are considered and simplifying assumptions that allow setting up a model with 'reasonable complexity' for practical use are suggested and commented on from a practical point of view. Calibration of the model of changes in the anticipated loss (more precisely, the incurred value changes) is illustrated on real data (adjusted for confidentiality purposes). The joint modeling procedure is applied, where a generalized linear model is assumed as a model of the incurred value (response variable) as well as its response variance. Interesting properties which might be expected in similar portfolios are revealed in the data. Keywords: generalized linear model, Claims reserving, Settlement process, Stochastic modeling Classification-JEL: C40, G30 Pages: 46-64 Volume: 2011 Issue: 6 Year: 2011 File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=351.pdf File-URL: http://www.vse.cz/aop/351 File-Format: text/html Handle: RePEc:prg:jnlaop:v:2011:y:2011:i:6:id:351:p:46-64 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlaop/references/351 Template-Type: ReDIF-Article 1.0 Author-Name: Tomáš Otáhal Title: Is Bribery a Good Way to Improve Efficiency in Law Enforcement? Abstract: The economic theory of the last decades deals with how certain models of institutions and incentives could improve the coordination of individual actions in society. Setting rules regulating relationships between economic agents is considered as the key requirement of such coordination. Nevertheless, the rule has no impact if it is not enforced. Gary Becker and George Stigler suggest a solution that could significantly contribute to efficiency in law enforcement. Gordon Tullock does not agree with their idea. The aim of the paper is to analyze their arguments and to answer the question: "Is Becker's and Stigler's recommendation a good way to efficiency in law enforcement?" The discussion presented in this paper suggests that Gary Becker's and George Stigler's proposal might improve efficiency in law enforcement if certain institutional conditions are assumed. Nevertheless, Gordon Tullock assumes different institutional conditions; therefore, he rejects Gary Becker's and George Stigler's proposal. Keywords: corruption, rent-seeking, rule of law Classification-JEL: D72, D73, L26 Pages: 65-79 Volume: 2011 Issue: 6 Year: 2011 File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=352.pdf File-URL: http://www.vse.cz/aop/352 File-Format: text/html Handle: RePEc:prg:jnlaop:v:2011:y:2011:i:6:id:352:p:65-79 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlaop/references/352 Template-Type: ReDIF-Article 1.0 Author-Name: Kateřina Young Title: Business Presentations: An Easy-to-Learn Skill or a Nightmare? Abstract: Most Business English instructors at the university level face a problem when dealing with Czech college students: an "information" loaded report, which is a result of the knowledge based educational system where the old "referat" still seems to prevail but has been replaced by a trendier term, called a "presentation," in a Power Point format. When faced with the "Anglo" presentation style, students often fall in despair mentioned above. Their prior experience of a "presentation" stands in sharp contrast to the foreign instructors' requirements and to the demands of the current workplace. The lack of students' awareness of and skills in preparing such presentations is alarming and, therefore, the need to teach this "survival" skill becomes even more critical. This paper reviews the findings of a mini-survey administered to the author's freshmen and sophomores with limited exposure to making presentations in English. The findings are then discussed in terms of the Czech teachers' understanding of discourse analysis and communicative competence as opposed to the Czech rhetorical tradition experienced so far by the students. Consequently, effective teaching strategies, which build on developmental psychology research, are suggested as possible ways to guide university students in successfully creating and delivering professional presentations. Keywords: business presentations, English for Specific Purposes, Business English, business communication Classification-JEL: I290, M140, O150, P300, Z000 Pages: 80-92 Volume: 2011 Issue: 6 Year: 2011 File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=353.pdf File-URL: http://www.vse.cz/aop/353 File-Format: text/html Handle: RePEc:prg:jnlaop:v:2011:y:2011:i:6:id:353:p:80-92 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlaop/references/353