Template-Type: ReDIF-Article 1.0 Author-Name: Vratislav Izák Title: Monetary Transmission Mechanism - Lending Channel Abstract: The Czech National Bank has through Repo rates effectively influenced the money market rates (PRIBOR). The strong cointegration has been also valid for the impact of PRIBOR rate on the interest rates on newly granted credits. The expected negative correlation between interest rates on the one side both investment and newly granted credits have been found. Industrial production and crown credits into industry have not been cointegrated. More detailed analysis of the credit structure in industry in 1997 shows the increasing ratio of credits in foreign currencies on the total credit volume. The potential efficiency of Czech monetary policy is limited due to unfavourable financial situation in Czech industrial enterprises. Under these circumstances not only the interest rates but credit availability at all have been important instruments and tools of monetary policy. The further increase of interest rates can evoke negative supply responses and paradoxically reinforce inflationary pressures. Volume: 1998 Issue: 6 Year: 1998 File-URL: http://www.vse.cz/polek/257 File-Format: text/html Handle: RePEc:prg:jnlpol:v:1998:y:1998:i:6:id:257 Template-Type: ReDIF-Article 1.0 Author-Name: Petr Šauer Author-Name: Antonín Dvořák Author-Name: Petr Fiala Title: Negotiation between Authority and Polluters - Model for Support of Decision Making in Environmental Policy Abstract: A new trend in environmental policy has emerged in the 1990's. This trend is the voluntary participation of business in environmental protection and problem-solving. So-called environmental management system principles and standards are being developed and certified in many countries. A reasonable number of corporations have already introduced this system. Voluntary agreements between industry and authorities have occurred and have achieved benefits that are significant to both parties. This paper contributes to the development of theories that could promote further progress in the field of business participation in environmental protection. It describes a relatively new approach to pollution reduction problem-solving that relies on negotiation between polluters and authorities in which traditional economic tools of environmental policies are used. The results of a negotiation experimental game are presented to illustrate the efficacy of this paper approach and the practical applications of this method are discussed. Volume: 1998 Issue: 6 Year: 1998 File-URL: http://www.vse.cz/polek/258 File-Format: text/html Handle: RePEc:prg:jnlpol:v:1998:y:1998:i:6:id:258 Template-Type: ReDIF-Article 1.0 Author-Name: Alois Holub Title: Strukturální odvětvové změny v procesu transformace české ekonomiky - s ohledem na mezinárodní aspekty Title: Changes in the Industrial Structure of the Czech Economy in the Process of Transformation - with Regard to International Aspects Abstract: Prior to the 1989 revolution, the structure of the Czech economy was characterised by the so-called industrialisation structure of GDP. Industry was the largest and most developed sector in the economy followed by services while agriculture remained the smallest sector. During the initial phase of transformation, the share of the services sector dramatically increased while the share of industry and agriculture declined. The Czech economy recorded a rapid transformation from the industrialiation structure into the services sector oriented one. Changes in the structure of GDP in these countries were always associated with the process of long-term economic growth. In contrast with this historical experience of European developed countries, recent changes in the sectoral structure of the Czech and other transition economies have been generated by economic decline. A considerable and long-term acceleration of economic growth is required to strengthen the recently emerged, but still rather weak sectoral structure. Volume: 1998 Issue: 6 Year: 1998 File-URL: http://www.vse.cz/polek/259 File-Format: text/html Handle: RePEc:prg:jnlpol:v:1998:y:1998:i:6:id:259 Template-Type: ReDIF-Article 1.0 Author-Name: Josef L. Porket Title: Is the State in Retreat? Abstract: Currently, the world is undergoing change. The factors underlying it are material as well as non-material, personal as well as impersonal. The outcome of this change is uncertain, because the future is not predetermined. There may be linear developmental of evolutionary patterns in history, yet, there are cyclical patterns of varied duration too. In modern societies, one cyclical pattern concerns the role the state in the economy and society or the scope of political power or government. Although these days totalist authoritarianism is discredited, liberal democracy has triumphed neither in theory nor in practise. Actually, since the early 1990s support for limited government has been falling and that for big government rising. Modern societies cannot dispense with the state, because only the state is able to provide the so-called pure public goods. Disagreements then arise especially over public provision of goods and services which are not pure public goods.. Volume: 1998 Issue: 6 Year: 1998 File-URL: http://www.vse.cz/polek/260 File-Format: text/html Handle: RePEc:prg:jnlpol:v:1998:y:1998:i:6:id:260 Template-Type: ReDIF-Article 1.0 Author-Name: Jiří Sláma Title: The Development of the Czech Economy and of Its Position in Europe in the First Half of the Next Century - an Attempt to Apply and Expand on Janossy's Theory of Economic Miracles Abstract: After the second world war "economic miracles" occurred in a number of countries. One of the most creditable theories of economic miracles is the work of the Hungarian economist Ferenc Jánossy. I try to expand and to apply Jánossy's theory to our country. According to my study we should reach the economic level of Austria and Germany around the year 2030, the level of the USA between the years 2040 and 2050 and of an average EU country between the years 2020 and 2030. The condition of that is the change of social behaviour of our population according to the needs of market economy. Volume: 1998 Issue: 6 Year: 1998 File-URL: http://www.vse.cz/polek/261 File-Format: text/html Handle: RePEc:prg:jnlpol:v:1998:y:1998:i:6:id:261 Template-Type: ReDIF-Article 1.0 Author-Name: Luděk Rychetník Title: Human Resource Management and Transformation Strategy Abstract: The quality of management has turned out to be the critical factor in the transformation of the Czech Republic to an open liberal market society. At the level of firms, privatised enterprise must be transformed into "high performance organisations". Initiatives as "lean production systems", "process reengineering", "human resource management", which have emerged in the West during the last 20 years, show the way. At the macro level, they can be interpreted as a search for a new post-fordist production system. Their common denominator is an effort to employ the whole personality of the worker his/her mind and creativity as well as his/her hands. They involve a difficult, long-run cultural change within the firm, a change in the whole approach to management, its development to a new level. The government, employers organisations and trade unions can significantly contribute to this transformation. Volume: 1998 Issue: 6 Year: 1998 File-URL: http://www.vse.cz/polek/262 File-Format: text/html Handle: RePEc:prg:jnlpol:v:1998:y:1998:i:6:id:262 Template-Type: ReDIF-Article 1.0 Author-Name: Ivan Malý Title: Public Goods and Publicly Provided Goods Abstract: There seems to be an inaccuracy concerning the concept of public goods in the common Czech language. While the most scholars define this concept using some specific characteristics of its consumption, for instance education and health services are calls "public goods" by public often because they are publicly provided. This leads to some statements as "the government has to finance health care services because they are public goods". Such an arbitrary definition of public goods is possible, but it is not correct if we want to use the concept as an example of objective micro-economic market failure. We believe the characteristics of consumption of public goods have the objective nature and there is no way to put them under any arbitrary judgement. The human "right" for the better health can be accepted by society, but it does not mean that there is non-exclusion from the consumption of health cervices. Volume: 1998 Issue: 6 Year: 1998 File-URL: http://www.vse.cz/polek/264 File-Format: text/html Handle: RePEc:prg:jnlpol:v:1998:y:1998:i:6:id:264 Template-Type: ReDIF-Article 1.0 Author-Name: Tomáš Holub Title: The Ramsey Model Abstract: In December 1998 it will be exactly 70 years F. P. Ramsey laid the foundations of modern neo-classical growth theory. However, during The Great Depression of the 1930s the Ramsey's work fell into oblivion. In mid-1950s the interest in the growth theory started to revive again, and R. M. Solow and T. W. Swan created what is now called Solow model. When the Ramsey model was re-discovered in mid-1960s, it became clear how much ahead the Ramsey's work was. In the Ramsey model, the consumption and saving behavior is put strictly on the microeconomic grounds and it is analyzed through a dynamic optimization of fundamentally rational economic agents. The importance of the Ramsey model reflects also in the fact, that its modifications were later used as an analytical tool in other fields of economics as well, for example in the supply-side economics and the business cycles theory. Volume: 1998 Issue: 6 Year: 1998 File-URL: http://www.vse.cz/polek/263 File-Format: text/html Handle: RePEc:prg:jnlpol:v:1998:y:1998:i:6:id:263