Template-Type: ReDIF-Article 1.0 Author-Name: Marta Nečadová Author-Name: Jindřich Soukup Title: Kontroverzní pojem národní konkurenceschopnost a výsledky zemí V-4 v mezinárodních žebříčcích konkurenceschopnosti 2007-2012 Title: The Controversial Concept of National Competitiveness and the Results of the Visegrad Group in International Rankings of Competitiveness (2007-2012) Abstract: The first objective of this paper is to identify the differences between microeconomic and macroeconomic concepts of competitiveness. The second objective is to explain why the concept of national competitiveness is controversial and why the obsession with competitiveness has adverse impacts on the allocation of resources and the choice of economic policies. The third goal is to describe and evaluate the methodology of the best known international rankings of competitiveness (World Competitiveness Yearbook and The Global Competitiveness Report). In the fourth section of this paper we use data published in this rankings to analyse changes in competitiveness of the Visegrad Group economies in 2007 - 2012. Keywords: competitiveness, recession, Visegrad group, World Competitiveness Yearbook, Global Competitiveness Report, Global Competitiveness Index Classification-JEL: E20, L21 Pages: 583-604 Volume: 2013 Issue: 5 Year: 2013 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=918.pdf File-URL: http://www.vse.cz/polek/918 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2013:y:2013:i:5:id:918:p:583-604 Template-Type: ReDIF-Article 1.0 Author-Name: Marika Křepelová Author-Name: Josef Jablonský Title: Analýza státních dluhopisů jako indikátoru pro akciový trh Title: Analysis of Government Bonds as an Indicator for Stock Market Abstract: The paper analyzes 10-year government bond and stock index of the Czech Republic and the United States in period from January 2002 to February 2012. Main purpose of the paper is to show connection between bond and stock market and verify whether bonds can be taken as stock indicators. A detailed study of fi nancial time series of both countries is performed. Different stages of each financial time series which is called bear, normal and bull state are presented. The conclusion is that all three stages have different means return and they are in accordance with financial theory. For the division of time series into each state Markov-Switching model is used. Keywords: stock market, bond market, bull and bear state, Markov-Switching model Classification-JEL: C58, C61 Pages: 605-622 Volume: 2013 Issue: 5 Year: 2013 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=919.pdf File-URL: http://www.vse.cz/polek/919 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2013:y:2013:i:5:id:919:p:605-622 Template-Type: ReDIF-Article 1.0 Author-Name: Zuzana Machová Author-Name: Igor Kotlán Title: Interakce zdanění, vládních výdajů a ekonomického růstu: panelový VAR model pro země OECD Title: Interaction of Taxation, Government Expenditure and Economic Growth: Panel VAR Model for OECD Countries Abstract: The article is focused on the mutual relationship among effective tax burden, size of government spending and economic growth. Its aim is to verify the effect of taxation and government spending on economic growth, but also to verify the effect of taxation and economic growth on the size of government spending. The analysis is methodologically based on a panel VAR model where taxation is approximated by standard Tax Quota as well as an alternative World Tax Index (WTI), which was compiled by the authors. The data cover the period of 2005 - 2010 for the OECD countries. The results of empirical analyzes show that economic growth is positively influenced by government spending, while the effect of taxation is negative for all types of taxes. Government expenditures are negatively influenced by both economic growth and the size of the taxation. We come also to the conclusion that WTI is preferable approximator of the tax burden than the Tax Quota, and may be used in further empirical analyzes. Keywords: economic growth, VAR model, tax burden, tax quota, panel data estimation, World Tax Index (WTI), government expenditures Classification-JEL: C50, H20, O40 Pages: 623-638 Volume: 2013 Issue: 5 Year: 2013 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=920.pdf File-URL: http://www.vse.cz/polek/920 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2013:y:2013:i:5:id:920:p:623-638 Template-Type: ReDIF-Article 1.0 Author-Name: Dana Kloudová Title: Produkční mezera jako indikátor inflace - případ pro českou ekonomiku Title: Output Gap as Indicator of Inflation - Case for Czech Economy Abstract: It is generally accepted, that output gap belongs to the main indicators of inflationary pressures and is often used by central banks when executing monetary policy. When output gap is positive, there are inflationary pressures in economy and inflation will rise. In case, that there is negative output gap in economy, inflation will decline. The aim of this paper is to find whether there is relationship between these two variables for Czech economy. To find the answer, two gap models following Coe, McDermott (1997) and Claus (2000a) will be used - with level of the output gap and change in the output gap. All tests confirm, that central bank should use it as indicator of inflation. Keywords: inflation, output gap, uncertainty, gap model Classification-JEL: E31, E32, E37 Pages: 639-652 Volume: 2013 Issue: 5 Year: 2013 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=921.pdf File-URL: http://www.vse.cz/polek/921 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2013:y:2013:i:5:id:921:p:639-652 Template-Type: ReDIF-Article 1.0 Author-Name: Jakub Fischer Author-Name: Kristýna Vltavská Author-Name: Petr Doucek Author-Name: Jana Hančlová Title: Vliv informačních a komunikačních technologií na produktivitu práce a souhrnnou produktivitu faktorů v České republice Title: The Influence of Information and Communication Technologies on Labour Productivity and Total Factor Productivity in the Czech Republic Abstract: The article is devoted to the analysis of the impact of information and communication technologies (ICT) on labour productivity and total factor productivity in the Czech Republic focusing on the period between the years 1995 and 2011. The authors follow the international methodology adapted to the availability of a reliable dataset, and divide the ICT sector in the ICT manufacturing, ICT services and ICT-using sectors. The issue of the quality of data sources and individual indicators entering the analysis is discussed in detail. While in the period between the years 1995 and 2003 the influence of ICT services prevails in the period 2003 and 2011 the influence of ICT using sectors grew much stronger in comparison. In both periods the importance of ICT manufacturing industry is negligible, which is also caused by the methodology of estimation of gross value added and recalculation into constant prices, as well as the low share of value added on production in that sector. Overall, the impact of ICT on the national economic aggregates should not be overstated. Keywords: total factor productivity, national accounts, labour productivity, ICT sector Classification-JEL: C10, E23, O47 Pages: 653-674 Volume: 2013 Issue: 5 Year: 2013 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=922.pdf File-URL: http://www.vse.cz/polek/922 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2013:y:2013:i:5:id:922:p:653-674 Template-Type: ReDIF-Article 1.0 Author-Name: Tomáš Lechner Title: Ekonomické dopady implementace ICT ve veřejné správě: důkazy z České republiky Title: Economic Impacts of ICT Implementation in Public Administration: Evidence from the Czech Republic Abstract: The paper deals with an analysis of economic impacts of ICT implementation within the public administration, which is called e-Government. The current situation in the Czech Republic is discussed using data about particular implemented tools, such as the contact points of public administration, data mailboxes or basic registries of public administration and more. In the paper there are evaluated impacts of these projects not only on public administration and public sector, but on the overall economic environment of the state including discussion of the rate of bureaucratic burden, transparency of the legal system or cyberspace security. In spite of the fact that a number of significant e-Government projects has been already implemented in the Czech Republic, there is still unused potential of other projects, whose adaptation could have positive economic impacts. Keywords: public administration, Public Services, public expenditures, information and communication technologies, e-Government Classification-JEL: H54, H72, O32, O33 Pages: 675-690 Volume: 2013 Issue: 5 Year: 2013 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=923.pdf File-URL: http://www.vse.cz/polek/923 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2013:y:2013:i:5:id:923:p:675-690 Template-Type: ReDIF-Article 1.0 Author-Name: Pavol Minárik Title: Ekonomie náboženství a její relevance pro ekonomy ve střední Evropě Title: Economics of Religion and its Relevance for Economists in Central Europe Abstract: This paper introduces possibilities for applying the economics of religion in Central European context. It reviews economic literature on religion, both the modern tradition of economic analysis of religious behavior and the Weberian tradition of analyzing consequences of religion for economy. Two local applications are used for illustration. The first one is an analysis of religious participation in post-communist countries; the second one is an examination of the role of religion in the post-communist transition. Changes in religious participation can be interpreted, among other models, using a model of individual time allocation. This model provides a good explanation for the post-communist period. The examination of the role of religion in the post-communist transition indicates that Western Christianity provides better conditions for introducing free market institutions as compared to Orthodox Christianity and Islam. Suggestions for further research are provided in the conclusion. Keywords: institutions, Central and Eastern Europe, economic transition, economics of religion, Weber´s hypothesis, religious participation Classification-JEL: P37, Z12 Pages: 691-704 Volume: 2013 Issue: 5 Year: 2013 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=924.pdf File-URL: http://www.vse.cz/polek/924 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2013:y:2013:i:5:id:924:p:691-704 Template-Type: ReDIF-Article 1.0 Author-Name: Kamil Janáček Title: Komplexní publikace o makroekonomické analýze Title: A Comprehensive Book on the Macroeconomic Analysis Keywords: - Pages: 705-707 Volume: 2013 Issue: 5 Year: 2013 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=925.pdf File-URL: http://www.vse.cz/polek/925 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2013:y:2013:i:5:id:925:p:705-707 Template-Type: ReDIF-Article 1.0 Author-Name: Viera Kuzmišinová Author-Name: Peter Kuzmišin Title: Na križovatke: quo vadis svetová ekonomika? Title: On a Crossroad: Quo Vadis, World Economy? Keywords: - Pages: 707-712 Volume: 2013 Issue: 5 Year: 2013 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=926.pdf File-URL: http://www.vse.cz/polek/926 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2013:y:2013:i:5:id:926:p:707-712