Template-Type: ReDIF-Article 1.0
Author-Name: Josef Ditrich; VŠE v Praze
Title: Data representativeness problem in credit scoring
Abstract: When building models, it is common to split the whole dataset into a development and a validation sample. In some cases, using random sampling instead of stratified sampling can lead to loss of representativeness of final samples. In such cases, a model built on these data gives different or unexpected results when its performance is measured on the validation sample. In the business area, a lack of representativeness can cause interpretative problems and can have a huge financial impact when a biased model is involved in the credit granting process. The aim of this paper is to examine and understand why representativeness should be checked before the start of modelling. The paper deals with methods of identification of selection bias in time. It recommends using three tests as a common part of the data preparation process.
Keywords: credit scoring, credit risk models, selection bias, random sampling, stratified sampling, data splitting
Classification-JEL: C18, C80, C83
Pages: 3-17
Volume: 2015
Issue: 3
Year: 2015
File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=472.pdf
File-URL: http://www.vse.cz/aop/472
File-Format: text/html
Handle: RePEc:prg:jnlaop:v:2015:y:2015:i:3:id:472:p:3-17
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Template-Type: ReDIF-Article 1.0
Author-Name: Kateřina Gawthorpe
Title: Elasticity of taxable income. A case study for the Czech Republic
Abstract: Elasticity of taxable income has increasingly become an important subject matter for economists in recent times. This study provides an estimate for the Czech Republic by exploiting panel data for corporate income tax rates between 2004 and 2009. The severity of the tax evasion and avoidance issue in this country triggers a question about the existence of the elasticity itself. The uniqueness of this study also stems from its focus on proportional tax rates while other influential studies examine this subject for progressive taxation. The result of this research supports a hypothesis about indifference between taxable incme decision and the size of the tax rate; about fifty percent of the observations in the sample are not subject to taxation. The high level of tax avoidance could explain such an outcome intensifying the necessity to fight this fiscal policy phenomenon.
Keywords: Czech Republic, taxable income, elasticity, corporate income tax
Classification-JEL: C23, H21
Pages: 18-29
Volume: 2015
Issue: 3
Year: 2015
File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=473.pdf
File-URL: http://www.vse.cz/aop/473
File-Format: text/html
Handle: RePEc:prg:jnlaop:v:2015:y:2015:i:3:id:473:p:18-29
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlaop/references/473

Template-Type: ReDIF-Article 1.0
Author-Name: Kristýna Kloboučníková; VŠE v Praze
Author-Name: Radka Druláková; VŠE v Praze
Title: Economic dimension of the Czech republic`s development assistance-Case study of Serbia
Abstract: The article deals with the economic dimension of the Czech Republic’s official development assistance. It discusses that aid and trade need not act contradictorily; in fact, they may work complementarily. In particular, the study focuses on the Czech Republic’s bilateral official development assistance towards Serbia, which shows synergic effects of development assistance and business interests. The first part of the paper is concerned with the various forms of private sector involvement in the Czech Republic’s official development assistance. The second part describes the Czech Republic’s official development assistance on the example of Serbia. First, this section concentrates on the Czech Republic’s relationship towards the Western Balkans and its bilateral relationship with Serbia. Afterwards, it regards the particular projects implemented by Czech actors operating in the framework of the official development assistance. Specifically, it deals with three Aid for Trade projects carried out by the Czech Chamber of Commerce and two projects implemented by Czech companies in the region of Pešter/Sandžak and the municipality of Kruščica.
Keywords: Czech Republic, international development cooperation, economic diplomacy, commercial link-up, Serbia
Classification-JEL: F35, F63, P45
Pages: 30-47
Volume: 2015
Issue: 3
Year: 2015
File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=474.pdf
File-URL: http://www.vse.cz/aop/474
File-Format: text/html
Handle: RePEc:prg:jnlaop:v:2015:y:2015:i:3:id:474:p:30-47
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlaop/references/474

Template-Type: ReDIF-Article 1.0
Author-Name: Lenka Slavíková
Title: Environmental or ecological economics and resource economics: terminological inconsistency in Czech research
Abstract: The paper deals with terminological issues within economics of the environment as used in Czech socio-economic research. In particular, it criticises the misuse of the term “environmental economics” in the context of Simon and Lomborg’s criticism of the Club of Rome reports. In reaction to recent research papers [such as Louzek, 2013], it argues that the neoclassical anchor of environmental economics needs to be reflected when discussing various applications of economics to environmental problems.
Keywords: environmental economics, terminology, free-market environmentalism
Classification-JEL: B22, Q23, Q50
Pages: 48-57
Volume: 2015
Issue: 3
Year: 2015
File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=475.pdf
File-URL: http://www.vse.cz/aop/475
File-Format: text/html
Handle: RePEc:prg:jnlaop:v:2015:y:2015:i:3:id:475:p:48-57
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlaop/references/475

Template-Type: ReDIF-Article 1.0
Author-Name: Jarmila Rybová
Title: Cluster analysis in the field of taxation
Abstract: Cluster analysis is a method of multivariate data processing. It can be easily applied, for example, by means of statistical software. The article focuses on an application of cluster analysis in the field of taxation. The possibility of applying the method is compared for each tax or groups of taxes at two levels: by an individual state and between selected countries. It is also possible to determine, on the basis of cluster analysis, the impact of taxes on economic operators, which can be sorted according to various criteria (income, types of households represented by their members, etc.). An overview of studies in which the selected method of cluster analysis applied to selected datasets shows that cluster analysis has been supplemented by another statistical method or that the clustering process is repeated on a selected part of a set of objects or characters. The reason is usually better interpretation of results and complementary broader context.
Keywords: taxation, cluster analysis, comparison of taxes, multivariate data analysis
Classification-JEL: C38, H21, H23, H24
Pages: 58-66
Volume: 2015
Issue: 3
Year: 2015
File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=476.pdf
File-URL: http://www.vse.cz/aop/476
File-Format: text/html
Handle: RePEc:prg:jnlaop:v:2015:y:2015:i:3:id:476:p:58-66
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Template-Type: ReDIF-Article 1.0
Author-Name: Pavel Sirůček; VŠE v Praze
Title: A. A. Cournot - Half-forgotten personalities of economic thought
Abstract: Cournot was a French mathematician, philosopher and economist, said to be one of the most important predecessors of neoclassical economic theory. He belongs among the pioneers in econometrics and mathematical economics. He is also highlighted for creation of market prices, the demand function and the basis for marginalist firm theory. He was unacknowledged in his lifetime.
Keywords: predecessors of neoclassical economics, A. A. Cournot, microeconomics, mathematical economics
Classification-JEL: B16, B41, C02, D00
Pages: 67-75
Volume: 2015
Issue: 3
Year: 2015
File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=477.pdf
File-URL: http://www.vse.cz/aop/477
File-Format: text/html
Handle: RePEc:prg:jnlaop:v:2015:y:2015:i:3:id:477:p:67-75
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlaop/references/477