Template-Type: ReDIF-Article 1.0 Author-Name: Wladimir Andreff Title: Corporate governance and residual state property (two qualitative shortcomings of privatization in transition countries) Abstract: The privatization in transition countries generated distorsions. Among the most dangerous distorsions are those introduced by a non legal or criminal privatization of management with the help of former or new informal networks connecting managers to the irregular economy and to some extent to the mafia. State regulation is required to control again monopoly power in privatized utilities and sectors where private stakes have won privileged position. It should be better to recognize the unavoidable role of the state in economic restructuring and use its intervention as a complementary - rather than an antagonistic - tool of the economic transition. Keywords: privatization, corporate governance, transition countries, state regulation, criminal or non legal activities Volume: 2000 Issue: 1 Year: 2000 File-URL: http://www.vse.cz/pep/61 File-Format: text/html Handle: RePEc:prg:jnlpep:v:2000:y:2000:i:1:id:61 Template-Type: ReDIF-Article 1.0 Author-Name: Vratislav Izák Title: Disinflation, supply shocks and monetary policy Abstract: This paper reviews the main features of the Czech macroeconomic development in the last years with the accent on disinflation and real GDP. The adjustment path of the Czech economy is clear: The decrease in nominal GDP growth has caused a deceleration of inflation on the one side and a drop of growth rates of real GDP and later even a decline in the level of real GDP on the other side. Further the econometric investigation of relations between wages and labour productivity and net inflation, producer prices and gap has been made. As the main factors influencing the disinflation in the last quarters the index of raw materials and foodstuffs has been revealed. The analysis of the impact of real exchange rate on net exports concludes the paper. Keywords: disinflation, net inflation, wages, productivity, exchange rate, vector autoregression Volume: 2000 Issue: 1 Year: 2000 File-URL: http://www.vse.cz/pep/62 File-Format: text/html Handle: RePEc:prg:jnlpep:v:2000:y:2000:i:1:id:62 Template-Type: ReDIF-Article 1.0 Author-Name: Marek Mora Title: Pension policy in the czech republic (lessons from a comparative study with hungary and poland) Abstract: This article deals with pension policy in three most developed transition countries: the Czech Republic, Hungary and Poland. Unreformed public pension systems suffer under a number of deficiencies and it is likely that pension policy will be a part of negotiations in the EU accession process, mainly due to its fiscal and social impacts. The progress in pension reform made so far differs broadly among those three countries. Hungary has adopted a multi-pillar system in July 1998 with a significant role of mandatory, fully funded pillar. Poland has made important preparation steps in the same direction and the laws have recently been approved by the Parliament. In the Czech Republic the main importance is still attached to the public pay-as-you-go pillar which was in 1994 complemented by private capital pension funds. This article search for explanations of this different development and makes some minimum recommendations for the Czech pension policy. A warning for the Czech government should be that the most pension reforms have been implemented in countries where the old system stood before collapse or had already collapsed. The Czech Republic should not wait until this moment and should take immediate actions to avoid this danger. Keywords: pension reforms, transition economies, social protection Volume: 2000 Issue: 1 Year: 2000 File-URL: http://www.vse.cz/pep/63 File-Format: text/html Handle: RePEc:prg:jnlpep:v:2000:y:2000:i:1:id:63 Template-Type: ReDIF-Article 1.0 Author-Name: Davorin Kračun Title: Economics of transition: the inflation multiplier Abstract: Examining the most advanced economies in transition we meet a moderate and long lasting inflation. This paper tries to determine one of the important mechanisms of inflation connected with the price setting under those circumstances. As the recorded inflation represents one of the most important parameters of price formation, there is a certain mutual relation between the sectoral price formation and the inflation. If the sectoral price formation is formalized by a linear function, this mutual relation can be expressed as a multiplier. In this article a possibility of sectoral price formation with linear function is presented and the inflation multiplier is derived out of it. In the empirical part the linear sectoral price functions and the inflation multiplier are calculated on the case of Slovenia. Keywords: economics of transition, moderate inflation, price formation in transition, sectoral price functions, inflation multiplier, Slovenia Volume: 2000 Issue: 1 Year: 2000 File-URL: http://www.vse.cz/pep/64 File-Format: text/html Handle: RePEc:prg:jnlpep:v:2000:y:2000:i:1:id:64 Template-Type: ReDIF-Article 1.0 Author-Name: Petr Dvořák Title: All that should be known about repo Volume: 2000 Issue: 1 Year: 2000 File-URL: http://www.vse.cz/pep/65 File-Format: text/html Handle: RePEc:prg:jnlpep:v:2000:y:2000:i:1:id:65 Template-Type: ReDIF-Article 1.0 Author-Name: Tomáš Cipra Title: New approaches to time series analysis Volume: 2000 Issue: 1 Year: 2000 File-URL: http://www.vse.cz/pep/66 File-Format: text/html Handle: RePEc:prg:jnlpep:v:2000:y:2000:i:1:id:66 Template-Type: ReDIF-Article 1.0 Author-Name: Antonín Dvořák Title: Natural resources valuation Volume: 2000 Issue: 1 Year: 2000 File-URL: http://www.vse.cz/pep/67 File-Format: text/html Handle: RePEc:prg:jnlpep:v:2000:y:2000:i:1:id:67 Template-Type: ReDIF-Article 1.0 Author-Name: Petr Soukup Title: Development and outstanding problems of european union Volume: 2000 Issue: 1 Year: 2000 File-URL: http://www.vse.cz/pep/68 File-Format: text/html Handle: RePEc:prg:jnlpep:v:2000:y:2000:i:1:id:68 Template-Type: ReDIF-Article 1.0 Author-Name: Jan Hřích Title: Comprehensive assessment on world economy as a real system and a theoretical discipline Volume: 2000 Issue: 1 Year: 2000 File-URL: http://www.vse.cz/pep/69 File-Format: text/html Handle: RePEc:prg:jnlpep:v:2000:y:2000:i:1:id:69