Template-Type: ReDIF-Article 1.0
Author-Name: Petr Dufek
Author-Name: Marián Vávra
Author-Name: Milan Václavík
Title: Analysis of the development of the czech economy in 2001 and outlook for 2002 and 2003
Abstract: This paper evaluates Czech economic development during 2001 and is supplemented by the predictions of basic economic indicators for 2002 and 2003. This article is divided in several parts. In the beginning we focus on economic growth, including a marginal analysis of GDP and industrial production. It is possible to find a detailed net inflation analysis in Chapter three which consists of an explanation of current demand and supply factors and then we present an econometric estimate of the net inflation equation. This chapter includes impulse-response analysis. Raw material dependency and the intensity of Czech production is analyzed in Chapter four, including an econometric estimate of oil and gas prices. In the following chapter - Labour Market - we focus on gross nominal wage determinants in the Czech Republic. In the last two chapters we evaluate fiscal and monetary policy, including an detailed interest rate analysis.
Keywords: econometric estimate, impulse-response analysis, net inflation equation, oil and gas equation, wage determinants, import intensity, energy dependency and intensity
Volume: 2002
Issue: 3
Year: 2002
File-URL: http://www.vse.cz/pep/195
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:2002:y:2002:i:3:id:195

Template-Type: ReDIF-Article 1.0
Author-Name: Helena Horská
Title: Inflation targeting in poland (a comparison with the czech republic)
Abstract: This paper deals with the implementation of the inflation targeting regime in Poland. The study contributes to the discussion about opportunities and constraints of inflation targeting in the more advanced transitive economies. This analysis of monetary policy issues is based on an econometric investigation of the Polish inflation time series and on the estimation of the links between monetary policy instruments and inflation. In comparison with the Czech Republic, the Polish inflation targeting strategy faces more obstacles and limitations that are caused by the structural characteristics of Polish inflation and the country's less advanced money market.
Keywords: disinflation, inflation targeting, central bank, Poland, crawling peg
Volume: 2002
Issue: 3
Year: 2002
File-URL: http://www.vse.cz/pep/196
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:2002:y:2002:i:3:id:196

Template-Type: ReDIF-Article 1.0
Author-Name: Evžen Kočenda
Author-Name: Juraj Valachy
Title: Firm ownership structures: dynamic development
Abstract: This paper analyzes development of the ownership structures in Czech voucher-privatized firms during 1996 - 1999. The period can be characterized by increasing ownership concentration uniformly across all categories of owners with exception of banks. Within frequent changes uncovered by cluster analysis, higher ownership concentration was found to preserve itself. In general, investment funds and portfolio companies recorded the highest average concentration increase. Industrial companies and individual owners were found to be the most stable type of owner. Sector perspective shows that while in 1996 the firms do not exhibit excessive differences among sector specific attributes with respect to the proportion of stake held, in 1999 they do.
Keywords: ownership structure, ownership concentration, privatized firms, industry sectors
Volume: 2002
Issue: 3
Year: 2002
File-URL: http://www.vse.cz/pep/197
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:2002:y:2002:i:3:id:197

Template-Type: ReDIF-Article 1.0
Author-Name: Jacek Cukrowski
Title: Privatizing a service sector: where to start?
Abstract: This paper develops a theoretical framework for the analysis of transformation of the service sector during privatization process. A simple model which includes a supplier of services and retail firms is presented and applied to study the effects of various sequences of privatization. Our findings indicate that privatizing the supplier first is always at least as good as privatizing the retailers first because (unlike the strategy of privatizing the retail firms first) it increases both the number of retail firms and profit of the supplier.
Keywords: privatization, service sector, demand uncertainty, trade in services, retail market
Volume: 2002
Issue: 3
Year: 2002
File-URL: http://www.vse.cz/pep/198
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:2002:y:2002:i:3:id:198