Template-Type: ReDIF-Article 1.0
Author-Name: Oldřich Dědek
Title: Výzvy nominální a reálné konvergence
Title: Challenges for nominal and real convergence
Abstract: This article addresses the issue of macroeconomic policies in the pre-accession period. The key theme is an assessment of the relationship between the real and nominal convergence of the candidate countries towards the EU. Support for real convergence cannot proceed on a long-term basis in contradiction to the nominal convergence criteria. Despite a renewal of growth in 1999, a whole range of persisting structural problems, chiefly in the fiscal area, confirm the benefit of
Keywords: inflation targeting, Balassa-Samuelson effect, price level, accession process, policy mix, nominal and real convergence, one price law
Volume: 2001
Issue: 6
Year: 2001
File-URL: http://www.vse.cz/polek/337
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:6:id:337

Template-Type: ReDIF-Article 1.0
Author-Name: Vladislav Flek
Author-Name: Mojmír Hájek
Author-Name: Jaromír Hurník
Author-Name: Ladislav Prokop
Author-Name: Lenka Racková
Title: Výkonnost a struktura nabídkové strany
Title: Supply-side performance and structure
Abstract: This paper deals primarily with supply-side performance of the Czech economy. Macroeconomic part of the analysis points out very low growth rate of total factor productivity, as well as high sensitivity of imports to real GDP growth. It also demonstrates
Keywords: structural changes, total factor productivity, allocation of resources, efficiency of investment, export performance, industrial production and employment, potential output, real GDP growth
Volume: 2001
Issue: 6
Year: 2001
File-URL: http://www.vse.cz/polek/338
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:6:id:338

Template-Type: ReDIF-Article 1.0
Author-Name: Miroslav Svoboda
Title: Možnosti měnové regulace z pohledu postkeynesovské ekonomie
Title: Possibilities of monetary regulation in post-keynesian economics
Abstract: Post-Keynesian approach to the nature of money brings some strong conclusions for the monetary policy of a central bank. Money is created by provision of loans. Loans make deposits. Deposits make reserves, since central banks play the role of a lender of last resort. Banks thus may provide as much of credit, as they want and as is demanded. Money is credit-driven and demand-determined. Central bank has no control over the high-powered money and the money stock. The base interest rate is exogenous, set by the central bank. It does not affect the stock of money but it is fundamentally a distributive variable. Central bank should set its level consistently with the growth of productivity. To fight with inflation, central bank should use direct-credit-control facilities.
Keywords: central bank, post-Keynesianism, money endogeneity, supply of money and credit
Volume: 2001
Issue: 6
Year: 2001
File-URL: http://www.vse.cz/polek/339
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:6:id:339

Template-Type: ReDIF-Article 1.0
Author-Name: Petr Chvojka
Title: Globální finanční krize: specifické podmínky transformujících se ekonomik
Title: Global financial crises: specific conditions of economies in transformation
Abstract: The paper deals with the problem of global financial crises. The author tries to resume and systematize some published reflections on the general determinants of their ignition, course and impacts. As a second step, he applies these problems on the conditions of transforming economies in the Central and Eastern Europe. He is trying to assess and systematize the specific moments and circumstances - mainly of systemic and functional character - negatively influencing the chances of these "emerging markets" to defend themselves effectively against the global financial crises and to cope with their possible consequences.
Keywords: global financial crises, new international financial architecture, transformation process of the Central and East European Countries, coping with
Volume: 2001
Issue: 6
Year: 2001
File-URL: http://www.vse.cz/polek/340
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:6:id:340

Template-Type: ReDIF-Article 1.0
Author-Name: Martin Srholec
Title: Vybrané aspekty makroekonomického vývoje v Maďarsku po roce 1995
Title: Macroeconomic development in Hungary after 1995
Abstract: The article analyses main features of macroeconomic development in Hungary after macroeconomic restriction in spring 1995. Years 1995 - 2000 are viewed as a successful period of accelerating economic growth, high foreign direct investment inflow combined with rising external competitiveness of manufacturing industry, fiscal consolidation and modest external disequilibrium with falling external debt. However, in 2000 a rising inflation and decreasing inflow of non-debt foreign capital are considered as major risks for sustenance of high economic growth in medium term. The limitations of anti-inflationary monetary policy within crawling band exchange rate regime are also discussed.
Keywords: monetary policy, macroeconomic analysis, economic growth, economic transformation, foreign direct investment, Hungarian economy, manufacturing industry
Volume: 2001
Issue: 6
Year: 2001
File-URL: http://www.vse.cz/polek/341
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:6:id:341

Template-Type: ReDIF-Article 1.0
Author-Name: Václav Malý
Title: Příspěvek k pojetí a využití aktuální a potenciální konkurence v podnikovém marketingu
Title: A contribution to the concept and use of topical and potential competition in a company marketing
Abstract: In this article is described a relative separated area within the framework of investigating individual behavior of competitors on the selling market of goods and services. The first part deals with the specification of the circle of competitors (criterions of specification), where too narrow, respectively too wide, specification of competitors is described, as well as their negative consequences for company activity. The difference is made between a topical and a potential competition. Main approaches to identification of topical competition are described, namely state economic ones and company ones. The second part deals with the identification of potential competitors. It gives us information about identification and specification of these competitors and about interconnected risks. Finally, the approaches that have been used to this category of competitors are criticized.
Keywords: behavior of competition, topic and potential competition, relevant competition
Volume: 2001
Issue: 6
Year: 2001
File-URL: http://www.vse.cz/polek/342
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:6:id:342

Template-Type: ReDIF-Article 1.0
Author-Name: Tomáš Evan
Title: Ekonomické myšlení Jana Kalvína o lichvě a úroku
Title: Economic thought of John Calvin about usury and interest
Abstract: At the beginning of the text we took into account all relevant biblical sources that until the 16th century played role in considering the compatibility of interest with the biblical message. We also stated important authors that influenced the medieval considerations on this issue. Although the interest was officially prohibited, it was frequently used, especially in connection with loans provided to rulers by strong financial institutions. These institutions took the advantage of their position on the financial market and due to their power also enjoyed immunity to certain religious rules. Strengthening protestant movement together with the economic necessity forced respected reformators to extensive interpretation of the issue of loans. The opinions of these reformators are described. Especially the teaching of John Calvin, namely his seven rules for the effective use of interest. In conclusion, we are describing the impact of Calvin's teaching that brought with the rise of capitalism.
Keywords: interest rate, Christianity, John Calvin, interest, usury, evolution of modern capitalism, Max Weber, Aristotle, St. Thomas Aquinas
Volume: 2001
Issue: 6
Year: 2001
File-URL: http://www.vse.cz/polek/343
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:6:id:343