Template-Type: ReDIF-Article 1.0
Author-Name: Karel Brůna
Title: Akumulace devizových rezerv centrálních bank a dynamika absorpce likvidity bankovních systémů České republiky, Polska a Maďarska
Title: Central Bank´s Foreign Exchange Reserves Accumulation and Dynamics of Banking System Liquidity Absorption: The Case of the Czech Republic, Poland and Hungary
Abstract: The paper deals with accumulation of foreign exchange reserves of central banks and its consequences in banking system liquidity management. In theoretical part the case of banking system liquidity surplus is analyzed focusing on creation of liquidity through FX operations, sterilization of liquidity and main sources of liquidity absorption. In this context it is analyzed how monetary policy instruments (on outright or repo basis) enable central bank to react on volatility of banking system liquidity needs and to cover issued currency in circulation and bank´s reserves by net foreign assets. In empirical part these problems are analyzed and compared using the example of the Czech Republic, Poland and Hungary. The paper focuses on main differences in the level of liquidity surplus, cost of sterilization, volatility of spread between O/N reference interest rate and main policy rate, main sources of liquidity absorption and dynamics of currency in circulation and reserves covering by net foreign assets.
Keywords: open market operations, foreign reserves, liquidity, monetary policy implementation
Classification-JEL: E43, E52, F32, G21
Pages: 723-746
Volume: 2010
Issue: 6
Year: 2010
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=759.pdf
File-URL: http://www.vse.cz/polek/759
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2010:y:2010:i:6:id:759:p:723-746
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/759

Template-Type: ReDIF-Article 1.0
Author-Name: Alena Zemplinerová
Title: Inovační aktivita firem a konkurence
Title: Innovation Activity of Firms and Competition
Abstract: The aim of the article is to investigate if there exists a systematic link between size of the firm, market concentration and R&D activity of firms. Three tentative results emerged from the regression analysis based on the firm balanced panel data 1998-2006. First it follows from a regression analysis that a positive relationship between size and R&D activity of the firm exists, which is non-linear however. Second the results indicate that a negative relationship between firm R&D personnel and industry concentration exists. If market concentration is a measure of competition than we can conclude that innovation is related to the competitive market structure. We arrived at the same conclusion when innovation was measured by intangible assets and competition was measured by Lerner index. Finally, our analysis concluded that although foreign firms are on average larger than domestic, a negative relationship between the foreign ownership of the firm and the number of R&D employees exists. In comparison to domestic firms, foreign firms have less R&D personnel.
Keywords: market structure, market concentration, competition, innovation
Classification-JEL: L11, L41, O31
Pages: 747-760
Volume: 2010
Issue: 6
Year: 2010
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=760.pdf
File-URL: http://www.vse.cz/polek/760
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2010:y:2010:i:6:id:760:p:747-760
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/760

Template-Type: ReDIF-Article 1.0
Author-Name: František Střeleček
Author-Name: Radek Zdeněk
Author-Name: Jana Lososová
Title: Vývoj zaměstnanosti v znevýhodněných oblastech v letech 2002-2006
Title: Development of Employment in Less Favoured Areas in 2002-2006
Abstract: More than 30% of the population lives in less favoured areas in the Czech Republic. These areas are characterized by a number of limitations such as shorter growing season, lower average annual temperature, the worse traffic conditions, higher environmental protection and others. Sustainable development of these areas depends not only on development of agriculture in these areas that is well supported, but also on the development of other sectors of the economy. An important element of development of these areas is a sufficient number of job opportunities. An analysis of employment in the years 2002-2006 was performed to investigate this. The method shift-share analysis was used. The analysis revealed that the total change of employment in the LFA was influenced mainly by a positive development of the regional component in the most important sectors. In the non LFA, the decrease of a number of workers due to the industry-mix component (mainly transport and trade) was  intensified by unfavourable values of the regional component. Dealing with the situation of the employment in industry, trade and transport is the key matter.
Keywords: employment, shift-share analysis, less favoured areas
Classification-JEL: R11
Pages: 761-773
Volume: 2010
Issue: 6
Year: 2010
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=761.pdf
File-URL: http://www.vse.cz/polek/761
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2010:y:2010:i:6:id:761:p:761-773
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/761

Template-Type: ReDIF-Article 1.0
Author-Name: Zdeňka Kroupová
Author-Name: Michal Malý
Title: Analýza nástrojů zemědělské dotační politiky - aplikace produkčních funkcí
Title: Analysis of Agriculture Subsidy Policy Tools - Aplication of Production Function
Abstract: The submitted paper is focused on the evaluation of the Common Agriculture Policy impact on economic results of Czech organic farmers. The aim of the paper is a complex evaluation of the influence of subsidy on production, costs, profit and technical  efficiency of organic farms. The partial aim is to evaluate different methods of subsidy rate calculation. The main methodological tool for achieving mentioned aims is an analysis using a production and a stochastic frontier production function. This approach has not been used in the Czech Republic yet. The previous studies, analyzed subsidy of organic farming, were based on a comparison of especially family farm income, profit or costs of organic and conventional farming. The analysis was conducted on the basis of unbalanced panel data from 143 organic and 388 conventional enterprises - legal entities, obtained over the time period 2004 - 2008. The sample of organic farms represents 58 % of the entire population of organic legal entities. Results of the analysis indicate negative impact of subsidies on production, profit and technical efficiency of organic farmers and refer to the reality that actual level of subsidy discourages organic farmers from rational behavior and implicates their dependence on state support.
Keywords: production function, profit, technical efficiency, Czech Republic, costs, panel data, subsidy
Classification-JEL: Q18, Q58
Pages: 774-794
Volume: 2010
Issue: 6
Year: 2010
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=762.pdf
File-URL: http://www.vse.cz/polek/762
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2010:y:2010:i:6:id:762:p:774-794
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/762

Template-Type: ReDIF-Article 1.0
Author-Name: Martin Kuncl
Title: Cesta k obnově růstu: inovace, pracovní místa a čistý růst (globální fórum OECD 2010 v Paříži)
Pages: 830-837
Volume: 2010
Issue: 6
Year: 2010
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=766.pdf
File-URL: http://www.vse.cz/polek/766
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2010:y:2010:i:6:id:766:p:830-837

Template-Type: ReDIF-Article 1.0
Author-Name: Šárka Laboutková
Author-Name: Milan Žák
Title: Užitečná kniha o Evropské unii
Title: A Useful Book on the European Union
Pages: 838-843
Volume: 2010
Issue: 6
Year: 2010
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=767.pdf
File-URL: http://www.vse.cz/polek/767
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2010:y:2010:i:6:id:767:p:838-843
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/767

Template-Type: ReDIF-Article 1.0
Author-Name: Zuzana Stuchlíková
Title: Návrat ekonomické krize
Title: Return of the Economic Crisis
Pages: 843-846
Volume: 2010
Issue: 6
Year: 2010
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=768.pdf
File-URL: http://www.vse.cz/polek/768
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2010:y:2010:i:6:id:768:p:843-846
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/768

Template-Type: ReDIF-Article 1.0
Author-Name: Jaroslav Sixta
Author-Name: Jakub Fischer
Title: Akrualizace daní, opotřebení fixního kapitálu a investice v sektoru vládních institucí
Title: Accrual Taxes, Capital Formation and Consumption in Government Sector
Abstract: The paper focuses on accrual taxes, investment and depreciation in government sector from statistical point of view. The paper is a feedback on paper published in Politická ekonomie 2/2010 by authors Hrdlička, Ištvánfyová and Vítek. Original paper dealt with similar issue but from accountants´ point of view. The statistical view of this matter is slightly different and it is influenced by current national accounts´ standard ESA 1995. The most of the paper is devoted to the investment and depreciation, in national accounts terms capital formation and capital consumption. The sector of government is a very important investor and property owner in the Czech Republic. Therefore a good record of investment and depreciation is important not only for government sector itself but also for total economy.
Keywords: accrual taxes, capital formation, national account, investment and depreciation in government sector
Classification-JEL: E20, E22, H25
Pages: 795-804
Volume: 2010
Issue: 6
Year: 2010
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=763.pdf
File-URL: http://www.vse.cz/polek/763
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2010:y:2010:i:6:id:763:p:795-804
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/763

Template-Type: ReDIF-Article 1.0
Author-Name: Petr Gočev
Title: Může přerozdělování posílit konkurenceschopnost ekonomiky?
Title: Can Redistribution Enhance the Competitiveness of an Economy?
Abstract: The article contests an argument that the creation of a capital market in educational "human capital" and subsequent voluntary transactions on this market are sufficient to create equal opportunities in education, consequently reducing the income premium enjoyed by households with higher initial wealth endowment end eliminating deadweight detriments to efficiency caused by unequal household budget constraints. The counterargument is based on game-theoretical model developed in Bowles 2004. The inevitable incompleteness of contracts results in allocation inefficiency: agents with above average wealth endowment are able to finance larger projects, and/or projects of worse than average quality, while agents with insufficient initial wealth endowment are excluded from the financial market. This inefficiency can be attenuated only by redistribution enforced by the government. The article concludes with a discussion of the general relationship between equality (redistribution) and efficiency.
Keywords: competitiveness, efficiency, incomplete contracts, Moral hazard, equality, motivation, redistribution
Classification-JEL: D61, D82, H2
Pages: 805-813
Volume: 2010
Issue: 6
Year: 2010
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=764.pdf
File-URL: http://www.vse.cz/polek/764
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2010:y:2010:i:6:id:764:p:805-813
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/764

Template-Type: ReDIF-Article 1.0
Author-Name: Ivana Ryvolová
Author-Name: Alena Zemplinerová
Title: Ekonomie obnovitelných zdrojů energie - příklad větrné energie v České republice
Title: The Economics of Renewable Energy - Example of Wind Energy in the Czech Republic
Abstract: In most industrialized countries, renewable energy is supported by policy schemes burden of which is distributed among taxpayers and energy consumers. Renewable sources of energy face a major problem because of their intermittency and that has not been adequately  reflected in the discussions of their subsidies in the Czech Republic and in the analysis of the related costs. The article attempts to contribute to this discussion and to the analyses of the costs of growth of wind energy supply in the Czech Republic.
Keywords: renewable energy sources, energy market regulation, wind energy, redistributive transfers, interest groups
Classification-JEL: L51, Q42, Q48
Pages: 814-825
Volume: 2010
Issue: 6
Year: 2010
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=765.pdf
File-URL: http://www.vse.cz/polek/765
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2010:y:2010:i:6:id:765:p:814-825
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/765