Template-Type: ReDIF-Article 1.0
Author-Name: Jorge Guillen
Title: Financial Distress and Access to Capital in Emerging Markets
Abstract: In this paper I study the main determinants of successful reaccess to international capital markets on a set of emerging market countries after a financial crisis. I focus on three components of the reaccess strategy: commitment to pay, ability to pay, and global liquidity. I employ a panel of 49 countries over a nearly 30-year period and apply a simple probit approach to show that, indeed, a sound external position and a sustainable debt profile, accompanied by a favorable global liquidity environment, are the key considerations for creditors considering whether to resume lending.
Keywords: developing countries, sovereign debt, reaccess, international finance
Classification-JEL: F34, G15, O10
Pages: 5-20
Volume: 2010
Issue: 1
Year: 2010
File-URL: http://www.vse.cz/pep/download.php?jnl=pep&pdf=361.pdf
File-URL: http://www.vse.cz/pep/361
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:2010:y:2010:i:1:id:361:p:5-20
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpep/references/361

Template-Type: ReDIF-Article 1.0
Author-Name: Jaroslav Janáček
Author-Name: Bohdan Linda
Author-Name: Iva Ritschelová
Title: Optimization of Municipalities with Extended Competence Selection
Abstract: Municipalities with extended administration, in which public administration offices are located, were selected within the frame of public administration reform (Act No. 344/1997 Coll., on the Territorial Arrangement of the State and Establishment of Higher Territorial & Administrative Units). These municipalities with extended administration partly substitute the function of district authorities. The selection of municipalities was carried out on the basis of criteria set by the government and political subjects. From the point of view of citizens, the most important criterion for the dislocation of public administration branch offices is the transport availability. Nevertheless, transport availability was not paid relevant attention in the decision making process in question. This fact becomes more and more important in connection with the growing problems related to ensuring regional transport. The paper deals with the creation of a mathematical model of the optimisation of branch offices dislocation and subsequent implementation. The solution of this model has three outputs. The first output is the evaluation of the contemporary state from the point of view of accessibility of branch offices. The second one is the sensibility analysis of accessibility depending on the number of branch offices. The third output is the post-optimisation analysis, which brought about numerical expression of the relationship between the cost of running a branch office and losses due to citizens travelling to municipalities with extended administration.
Keywords: public administration reform, municipalities with extended administration, optimal placement of municipalities with extended sphere of authority
Classification-JEL: C02, C61, H11, R53
Pages: 21-34
Volume: 2010
Issue: 1
Year: 2010
File-URL: http://www.vse.cz/pep/download.php?jnl=pep&pdf=362.pdf
File-URL: http://www.vse.cz/pep/362
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:2010:y:2010:i:1:id:362:p:21-34
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpep/references/362

Template-Type: ReDIF-Article 1.0
Author-Name: Ondřej Vojáček
Author-Name: Iva Pecáková
Title: Comparison of Discrete Choice Models for Economic Environmental Research
Abstract: In the paper the discrete choice models are discussed and applied based on empirical data. The main goal of the paper is to find out whether the various discrete choice models provide the analyst with the robust and reliable estimates of values of natural goods or values of changed quality of such goods. Our results indicate that the yielded value estimates using the choice experiment method and discrete choice models are applicable in expert support of decision-making on allocation of public resources to such goods, because they are stable and robust. These issues are investigated for the marginal willingness of Czech visitors to the Mácha Lake beaches to pay for the water quality and beach characteristics.
Keywords: discrete choice models, choice experiment, welfare measure, random utility theory, public goods
Classification-JEL: C01, C13, C16, D61, H40
Pages: 35-53
Volume: 2010
Issue: 1
Year: 2010
File-URL: http://www.vse.cz/pep/download.php?jnl=pep&pdf=363.pdf
File-URL: http://www.vse.cz/pep/363
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:2010:y:2010:i:1:id:363:p:35-53
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpep/references/363

Template-Type: ReDIF-Article 1.0
Author-Name: Markéta Arltová
Author-Name: Jitka Langhamrová
Title: Migration and Ageing of the Population of the Czech Republic and the EU Countries
Abstract: The population ageing is the main population problem of Europe. Population development may influence the economy and the economy may retrospectively influence population development. The consequences of this process may appear with a delay of several decades and they may have an unfavourable influence on the functioning of the economy and the prosperity of individual European countries. In connection with this, the international migration is often brought up, mainly the question whether the migration can solve or at least lessen the ramifi cations connected with the decrease in the number of population itself and population ageing. The migration itself is rather wide and extensive and cannot be dwelled upon in great detail, ergo we pointed out some of the ground ideas in this article, especially those which are most commonly connected with the demographic migration.
Keywords: time series, migration, natural increase, age index
Classification-JEL: C32, J12, J13
Pages: 54-73
Volume: 2010
Issue: 1
Year: 2010
File-URL: http://www.vse.cz/pep/download.php?jnl=pep&pdf=364.pdf
File-URL: http://www.vse.cz/pep/364
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:2010:y:2010:i:1:id:364:p:54-73
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpep/references/364

Template-Type: ReDIF-Article 1.0
Author-Name: Kateřina Pavloková
Title: Death Related Costs Hypothesis in the Czech Health Care System - The Present and the Future
Abstract: Growing concern about fiscal sustainability with respect to the population ageing has given rise to a large debate on the role of age in the context of health care expenditure. Growing evidence on the so called death related costs hypothesis arguing that the positive relationship between age of the cohort and related health care expenditure is the result of growing probability of death changes significantly influencing of the projections. The aim of this paper is to explore the importance of the death related costs hypothesis in the Czech health expenditure data and the impact of the hypothesis on the projection of the financial sustainability of the Czech health care system.
Keywords: health care, last year of life, fiscal sustainability
Classification-JEL: H51
Pages: 74-89
Volume: 2010
Issue: 1
Year: 2010
File-URL: http://www.vse.cz/pep/download.php?jnl=pep&pdf=365.pdf
File-URL: http://www.vse.cz/pep/365
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:2010:y:2010:i:1:id:365:p:74-89
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpep/references/365