Template-Type: ReDIF-Article 1.0
Author-Name: Mojmír Hájek
Author-Name: Vladimír Bezděk
Title: Odhad potenciálního produktu a produkční mezery v České republice
Title: Estimate of potential output and output gap in the Czech Republic
Abstract: The article describes the estimate of potencial output and output gap in the Czech economy on the macroeconomic level for the period 1991 - 1999 and forecasted years 2000 and 2001. Two methods are used. The first is the application of Hodrick - Prescott filter to yearly and quarterly data of real GDP. The second one is Cobb-Douglas production function with technological progress, using yearly data about real GDP, stock of capital and labour. In the case of production function three variants of
Keywords: production function, potencial output, output gap, Hodrick - Prescott filter, total factor productivity
Volume: 2001
Issue: 4
Year: 2001
File-URL: http://www.vse.cz/polek/320
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:4:id:320

Template-Type: ReDIF-Article 1.0
Author-Name: Vratislav Izák
Title: External factors in czech disinflation (dynamic analysis)
Abstract: The paper has examined the impact of both internal and external factors on the net inflation in the Czech Republic in the time horizon 1995:1 - 2000:12. The framework of the analysis are the extended Phillips curve models. Cross correlograms of stationary data (first differences of year-on-year changes) have revealed by far the decisive role of external factors (import prices, import prices-group 3, nominal effective exchange rate). To reveal the correct temporal linkage between these variables on the one side and the inflation rate on the other side the distributed lag models (finite and polynomial) have been constructed and evaluated. Impulse response functions and variance decompositions for selected VAR models complete the analysis. The main message from this paper is, in the intention of the papers of Ball, that in the small open economies inflation targeting can be dangerous.
Keywords: extended Phillips curve, distributed lag models, impulse response functions, variance decomposition
Volume: 2001
Issue: 4
Year: 2001
File-URL: http://www.vse.cz/polek/321
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:4:id:321

Template-Type: ReDIF-Article 1.0
Author-Name: Igor Kotlán
Title: Alternativy stabilizační politiky
Title: The alternative goals of the stabilization policy
Abstract: This article presents the alternative goals of the central bank during the realization of the economic policy. The central bank can set the inflation or the economic cycle. Highly independent central banks (European Central Bank, Czech National Bank etc.) set the inflation, it means they minimise the inflation variability. Dependent central banks make us the Phillips curve and set the economic cycle. It means they minimise the output gap variability. If the central bank follows the inflation variability, the society must tolerate the output gap variability and on the contrary low output gap variability leads to high inflation variability. There is a negative relationship between the output gap variability and the inflation variability. The approach used in this article appears from the neoclassical model, it means from assumptions of the sticky price specifications and rational expectations.
Keywords: neoclassical approach, Phillips curve, New-Keynesian approach, rational expectations, optimization problem, loss function
Volume: 2001
Issue: 4
Year: 2001
File-URL: http://www.vse.cz/polek/322
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:4:id:322

Template-Type: ReDIF-Article 1.0
Author-Name: Anna Kadeřábková
Author-Name: Martin Srholec
Title: Intenzita a kvalitativní charakteristiky strukturálních změn v tranzitivních ekonomikách
Title: Intensity and qualitative characteristics of structural changes in transition economies
Abstract: The paper presents alternative analytical approaches to evaluation of structural changes in selected transition economies (Czech Republic, Poland, Hungary, Slovakia, Slovenia). The analysis starts from the comparison of intensity of structural changes, as an introductory (quantitative) concept measuring structural adjustment capacity. Besides the intensity of structural changes, the need for developing adequate tools evaluating the qualitative aspects of structural changes has been stressed. The analysis starts from presentation of alternative theoretical concepts of technology change, with special regard to its industry and firm specific aspects. The qualitative criteria of industry structure include: material and immaterial type of inputs, level of technology intensity, market concentration and product differentiation, and skills intensity. Finally, the intensity and qualitative characteristics of structural changes are combined to indicate the capacity of the transition economies in closing the technology gap.
Keywords: structural changes, transition economies, technology change, adjustment capacity, technology gap
Volume: 2001
Issue: 4
Year: 2001
File-URL: http://www.vse.cz/polek/323
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:4:id:323

Template-Type: ReDIF-Article 1.0
Author-Name: Martin Dlouhý
Title: Matematický model restrukturalizace odvětví a firmy
Title: A mathematical model of sector/firm restructuralization
Abstract: We show that sector/firm restructuralization can be seen as the problem of mathematical programming. If the prices of inputs or outputs are not known, the information on technical efficiency may be used instead of economic efficiency. Data envelopment analysis is used to evaluate the technical efficiency of units. We present the use of method on hospital restructuralization. We used data on hospitals from selected Czech region and ask the DEA/Knapsack model to determine which departments should be closed.
Keywords: restructuralization, hospital, data envelopment analysis, knapsack problem
Volume: 2001
Issue: 4
Year: 2001
File-URL: http://www.vse.cz/polek/324
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:4:id:324

Template-Type: ReDIF-Article 1.0
Author-Name: Lubomír Lízal
Title: Má stát právo považovat Microsoft za monopolní firmu?
Title: Does the state have the right to consider Microsoft to be a monopoly?
Abstract: This article deals with computer operating systems, their common features with classical monopolistic industries containing a natural monopoly element, and the right of the state to regulate monopolies according the philosophic principles of utilitarianism and laissez-faire. An analogy between operating system and infrastructure of network industry is presented. Fixed costs of building an infrastructure and the writing of a program are similar; they are indivisible and sunk. The marginal costs of maintaining the infrastructure and program licensing are low. Operating systems bear all identical features that define natural monopolies. The owner of an operating system can practice all kinds of predatory behavior known in oligopolistic industries. Therefore, we can consider operating system to be equivalent to monopolistic infrastructure and the society has a right to examine the behavior of the owner according the definitions of antimonopolistic laws and anticompetitive behavior.
Keywords: regulation, Microsoft, monopoly, laissez-faire, operating systems, network industries
Volume: 2001
Issue: 4
Year: 2001
File-URL: http://www.vse.cz/polek/325
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:4:id:325

Template-Type: ReDIF-Article 1.0
Author-Name: Hana Švejdarová
Author-Name: Ján Mišovič
Title: Oceňování kvality životního prostředí - porovnání stanovených a odhalených preferencí
Title: Valuing of environmental quality - stated and revealed preferences comparison
Abstract: Economic valuation of natural resources and the quality of the environment is gaining importance in environmental protection in the Western countries. A wide variety of non-market valuation methods has been developed for this purpose. The contingent valuation method, which is based on stated preferences, has a special position among the group of preference methods. Its validity has been tested many times with contradictory results. In the CR, there is hardly any experience with non-market valuation methods. Two case studies performed on representative samples of the Czech population, both of them dealing with ground water quality, are described. An averting behavior method based on bottled water purchases is used to disclose revealed preferences. The results are compared with ones of an older contigent valuation study. The revealed preferences for drinking water of high quality are found to be more than three times higher than stated preferences. Possible reasons of this difference and biases are discussed.
Keywords: contingent valuation, averting behavior, groundwater quality, bottled water
Volume: 2001
Issue: 4
Year: 2001
File-URL: http://www.vse.cz/polek/326
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:4:id:326

Template-Type: ReDIF-Article 1.0
Author-Name: Pavel Kuneš
Title: Cíle firmy a limity jejího růstu - postkeynesovská alternativa ekonomie hlavního proudu
Title: Targets of a company and limitations of its growth - post-keynesian alternative to the economics of the main stream
Abstract: There are many interesting issues within Post-Keynesian stream that are worth noticing and reviewing even by those economists who tend to decline notions raised by Keynes. Among others it is the theory of the firm, which deserves attention. If we adopt the notion of uncertainty about our future we are forced to tackle the economic reality in quite a different way. It is crucial for the economic system to sustain competitiveness, however, there are natural drifts for the firms to get larger and thus stronger in their everyday life. Discussions over these and other issues carried out by Post-Keynesians should not miss attention of general economic public since, as I view it, they hit the point of current world in a more adequate way than the orthodox theory does.
Keywords: expansion constraint, F. A. Hayek, financial constraint, J. M. Keynes, Post-Keynesians, the main stream economics
Volume: 2001
Issue: 4
Year: 2001
File-URL: http://www.vse.cz/polek/327
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:4:id:327

Template-Type: ReDIF-Article 1.0
Author-Name: Jan Máče
Title: Laboretismus - specifický směr českého ekonomického myšlení
Title: Laboretism - the specific way of czech economic thought
Abstract: Term laboretism was based on composition of two words - labor and ethos (moral). This is the Czech school of economic thought from the period of the 1920s and 1930s. The major representative of this school Václav Verunáč published the first thesis of the laboretism in 1926. The prominent group of the intelectuals from many disciplines accepted this new theory. They was oriented to position of work people in society. At same time this group was trying to find a resolution for social problem by the social compromise, based on moral values of European society. They was trying to anticipate the growing up of the social tensions. The main idea of this line of though was a reform of capitalism system to social few. But after the laboretism wasn´t expanded to professional life and it has to stay in a small intelectual environment.
Keywords: laboretism, labor, management, moral, planing
Volume: 2001
Issue: 4
Year: 2001
File-URL: http://www.vse.cz/polek/328
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:4:id:328