Template-Type: ReDIF-Article 1.0 Author-Name: Kamil Janáček Author-Name: Martin Čihák Author-Name: Marie Frýdmanová Author-Name: Tomáš Holub Author-Name: Eva Zamrazilová Title: Česká ekonomika v roce 2000: obrat v tempu růstu Title: Czech economy in 2000: a turn toward growth Abstract: The authors present an analysis of the most recent trends in the Czech economy. They claim that the economy is going through a turning point in its development: after two years of a decline, the economy is likely to grow again in 2000. The growth will be driven mainly by exports, followed by private household consumption. The authors expect that Czech exports will be positively influenced by an accelerating growth in the EU, but not to such an extent to compensate fully for the increase of Czech domestic demand. The imbalance of the current account will be covered with the record inflow of foreign direct investment in 2000. The authors also analyse the recent monetary policy and predict the development of inflation in the Czech Republic. They expect inflation to accelerate slightly again in 2000, but the Central Bank is still likely to undershoot its target for 2000. Keywords: monetary policy, Czech Economy, economic growth, public sector Volume: 2000 Issue: 3 Year: 2000 File-URL: http://www.vse.cz/polek/141 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2000:y:2000:i:3:id:141 Template-Type: ReDIF-Article 1.0 Author-Name: Jiří Křovák Author-Name: Jan Filáček Title: Prognóza vývoje české ekonomiky v letech 2000 a 2001 Title: Prediction of development of the czech economy in 2000 and 2001 Abstract: We predict that GDP will grow 1.5 % in 2000 after falling 0.2 % in 1999. Sluggish growth in 2000 will be driven by domestic demand, namely fixed investment. Interest rates set by the CNB are now in a "parking zone". Two-week repo rate remains at 5.25 %. We do not expect any significant (upward) changes during the course of this year. We expected average annual inflation (CPI) to increase to 3.8 % in 2000. Unemployment will rise to 10.8 % (at yearend) and employment will decline by 2 %. Real wages will grow by modest 1.6 %. We predict that the trade gap will widen to CZK 85 bil. and the current account deficit will comprise some 2.4 % of GDP in 2000. The CZK against the euro will be more or less nominally stagnant. Keywords: Czech Economy, macroeconomic analysis, economic growth, inflation, unemployment, wages Volume: 2000 Issue: 3 Year: 2000 File-URL: http://www.vse.cz/polek/142 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2000:y:2000:i:3:id:142 Template-Type: ReDIF-Article 1.0 Author-Name: Zbyněk Revenda Title: Centrální banka jako věřitel poslední instance ve světle problémů české ekonomiky Title: Central bank as lender of last resort in the light of the problems of the czech economy Abstract: One of the main goals of the banking regulation and supervision is the promotion of the integrity, stability and health of the banking system as a whole. This also requires the mechanism, which would help some problem banks to gain lacking funds to meet the liquidity needs. Lender of last resort represents this mechanism. Although the aid may come from the special government institution or directly from the state budget, the role of lender of last resort is usually adopted by the central bank because of conviction that the failure of bank might have the "contagion effect" on the other banks. The emergency credits could be granted only to illiquid but solvent banks. In the article there are connected problems discussed - systemic risk, doctrine "too-large-to-fail", differences between the liquidity and solvency, and the main criteria for granting the emergency credits, with a view to the Czech banking system since 1993. Keywords: monetary policy, bank, central bank, credit, regulation, supervision Volume: 2000 Issue: 3 Year: 2000 File-URL: http://www.vse.cz/polek/143 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2000:y:2000:i:3:id:143 Template-Type: ReDIF-Article 1.0 Author-Name: Vladimír Tomšík Title: Keynesovský a monetarní přístup k platební bilanci (aplikace na Českou republiku v letech 1993 - 1999) Title: The keynesian and monetary approaches to the balance of payments (case study on the Czech Republic in 1993 - 1999) Abstract: In the first part of this article is discussed a theoretic comparison of a standard Keynesian (income) approach and a monetary approach to the balance of payments. The monetary adjustment process is based on the monetarist assumption that money market imbalances affect the real economy and the Keynesian approach is based on a relationship between income and foreign trade. In the second part author describes a theoretic Keynesian-Monetary (K-M) model which is able to illustrate the impacts of the changes of various economic exogenous variables to a development of income and the balance of payments. The main contribution of this paper can be considered in an interpretation of the real economic development in the Czech Republic between 1993 - 1999 by the theoretic K-M and IS-LM-BP models. Keywords: external balance, monetary approach to the balance of payments, Keynesian (income) approach to the balance of payments, macroeconomic policy, foreign exchange reserves Volume: 2000 Issue: 3 Year: 2000 File-URL: http://www.vse.cz/polek/144 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2000:y:2000:i:3:id:144 Template-Type: ReDIF-Article 1.0 Author-Name: Wladimir Andreff Title: Řízení a správa společností a zbytkové státní vlastnictví (dva kvalitativní nedostatky privatizace v tranzitivních zemích) 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, transition countries, state regulation, criminal or non legal activities, corporate governance Volume: 2000 Issue: 3 Year: 2000 File-URL: http://www.vse.cz/polek/145 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2000:y:2000:i:3:id:145 Template-Type: ReDIF-Article 1.0 Author-Name: Evžen Kočenda Title: Zbytkový státní majetek a vlastnická práva Title: Residual state property and ownership rights Abstract: Despite the massive scale of the voucher privatization, there still remains a substantial number of companies where the state has been involved. The residual state property is quantified from the point of ownership and ownership rights that enable control over the assets of privatized companies. By the beginning of 1999, the state was able to control 76 % of assets of the companies in the portfolio of the National Property Fund. This means that the state has been able to control quite a significant part of the Czech economy and interfere with the concept of property rights. The results thus question achievement of the voucher privatization. There exists a clear consensus that further privatization of the residual state property is both necessary and inevitable. It is a condition for further economic growth. Keywords: privatization, corporate governance, ownership rights, state control, book value of assets, joint stock company, shareholder Volume: 2000 Issue: 3 Year: 2000 File-URL: http://www.vse.cz/polek/146 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2000:y:2000:i:3:id:146 Template-Type: ReDIF-Article 1.0 Author-Name: Pavel Kőrner Title: Švédský kapitalismus s lidskou tváří Title: Sweden capitalism with an human face Abstract: This article is focused on the composition and development of the so called Scandinavian approach of economic policy. The first part describes it's three main posts, this is labour market, public sector and social equality. Two main streams of the Sveeden labour market policy are centralised wage bargaining managed by Rehn-Meidner model under motto "equal wage for equal work" which was after years transformed into "equal wage" and the so called active labour market policy. The second part deals with macroeconomics policy and not much known progressive market regulation and competition obstacles and the third part introduces the Sweden tax system with it's highly progressive tax rates and it's 1985 and 1991 tax reform. Keywords: labour market, public sector, macroeconomic policy, welfare state, social equality, tax system Volume: 2000 Issue: 3 Year: 2000 File-URL: http://www.vse.cz/polek/147 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2000:y:2000:i:3:id:147 Template-Type: ReDIF-Article 1.0 Author-Name: Stanislava Hronová Author-Name: Richard Hindls Title: Nový standard národního účetnictví ve světle světové konference statistiků Title: New standard of national accounting system in the light of the world conference of statisticians Volume: 2000 Issue: 3 Year: 2000 File-URL: http://www.vse.cz/polek/148 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2000:y:2000:i:3:id:148 Template-Type: ReDIF-Article 1.0 Author-Name: Martin Čihák Title: Česká společnost ekonomická: Ekonomie jako imperiální věda (informace z 15. semináře). Praha, listopad 1999. Title: Czech economic association: Economics as the imperial science Volume: 2000 Issue: 3 Year: 2000 File-URL: http://www.vse.cz/polek/149 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2000:y:2000:i:3:id:149 Template-Type: ReDIF-Article 1.0 Author-Name: Petr Soukup Title: Nová učebnice hospodářské politiky Title: New textbook of economic policy Volume: 2000 Issue: 3 Year: 2000 File-URL: http://www.vse.cz/polek/150 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2000:y:2000:i:3:id:150 Template-Type: ReDIF-Article 1.0 Author-Name: Jitka Koderová Title: Další zdařilá publikace na našem trhu Title: Another successful publication on our market Volume: 2000 Issue: 3 Year: 2000 File-URL: http://www.vse.cz/polek/151 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2000:y:2000:i:3:id:151 Template-Type: ReDIF-Article 1.0 Author-Name: František Fabian Title: úspěšně řídit a rozhodovat bez statistické analýzy je již nemožné Title: Successful management and decision-making is not possible without the statistical analysis Volume: 2000 Issue: 3 Year: 2000 File-URL: http://www.vse.cz/polek/152 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2000:y:2000:i:3:id:152 Template-Type: ReDIF-Article 1.0 Author-Name: Jiří Řezník Title: Nestandardní pohled na trh Title: Nonstandard view of the market Volume: 2000 Issue: 3 Year: 2000 File-URL: http://www.vse.cz/polek/153 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2000:y:2000:i:3:id:153 Template-Type: ReDIF-Article 1.0 Author-Name: Jiří Jelínek Title: Systémové pojetí trhu práce Title: Systém conception of the labour market Volume: 2000 Issue: 3 Year: 2000 File-URL: http://www.vse.cz/polek/154 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2000:y:2000:i:3:id:154 Template-Type: ReDIF-Article 1.0 Author-Name: Mikuláš Pichanič Title: Nové směry řízení a organizování českých firem Title: New trends in czech companies management and organization Volume: 2000 Issue: 3 Year: 2000 File-URL: http://www.vse.cz/polek/155 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2000:y:2000:i:3:id:155