Template-Type: ReDIF-Article 1.0 Author-Name: Frensch Richard Author-Name: Hanousek Jan Author-Name: Kočenda Evžen Title: Obchod s fiskálními statky v Evropské unii: Analýza za pomoci gravitačního modelu Title: Trade with Final Goods in European Union: A Gravity Model Approach Abstract: Based on the gravity model of the trade with imperfect specialization we suggest a testable econometric specification. The model considers bilateral gravity equation as a statistical relationship limited by the multilateral specialization patterns among countries. We test the model on disaggregated bilateral trade data of the European Union (EU) countries. Our results show that trade in final goods between East and West in Europe is driven by multilateral specialization incentives. The identified key drivers are supply side country differences in labour costs with respect to the rest of the world. This finding is compatible with the idea of incomplete specialization. We also show that trade between old and new EU members is realized more though increasing variety of products rather than by intensifying trade with established products. Keywords: European Union, international trade, panel data, gravity models Classification-JEL: F14, F16, L24 Pages: 715-734 Volume: 2013 Issue: 6 Year: 2013 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=927.pdf File-URL: http://www.vse.cz/polek/927 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2013:y:2013:i:6:id:927:p:715-734 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/927 Template-Type: ReDIF-Article 1.0 Author-Name: Ivan Brezina Author-Name: Juraj Pekár Title: Analýza citlivosti hodnot Herfidalovho-Hirschmanovho indexu slovenského bankového sektora Title: Sensitivity Analysis of Herfindahl-Hirschman Index on the Slovak Banking Sector Abstract: Herfindahl-Hirschman Index (HHI) that measure the concentration of the industry belongs to well-known special indices. The paper is devoted to the sensitivity of the HHI values, which allows simulations of changes in concentration of the relevant market in case of new entry into the market. Let assume model situation in which a new entity has entered the industry with a relevant market share while keeping the total production of the industry unchanged and the production of subjects operating on the market is proportionately reduced. Based on this assumption, it is possible to derive relations that allow to set the boundaries in which the characteristic of the sector remains the same (levels unconcentrated, moderately concentrated, concentrated on the base of methodology of European Commission). Derived relations of the HHI sensitivity can be successfully used as a tool in assessing the entry of a new subject in any industry. It may be difficult to use analysis based on the methodology of the European Commission in case of smaller economies with a smaller number of subjects. Therefore we proposed our approach of setting of the border ranges to characterize the concentration of the industry. Also, empirical analysis of the Slovak banking sector, in which currently operate 14 banks, was conducted on the basis of the methodology of the European Commission. Keywords: Sensitivity analysis, Herfindahl-Hirschman index, Industry concentration Classification-JEL: C02, L44 Pages: 735-751 Volume: 2013 Issue: 6 Year: 2013 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=928.pdf File-URL: http://www.vse.cz/polek/928 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2013:y:2013:i:6:id:928:p:735-751 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/928 Template-Type: ReDIF-Article 1.0 Author-Name: Oldřich Krpec Author-Name: Vladan Hodulák Title: Konkurenceschopnost národních ekonomik - kritická reflexe konceptu Title: Competitiveness of National Economy: Critical Reflection Abstract: This article is a contribution to the discussion of national competitiveness as a concept for analysis of international economic relations. The main goal is the critical reflection of the concept. We consider the Paul Krugman´s and Richard Baldwin´s remarks regarding the problems associated with using competitiveness as an analytical concept still valid when restrained to the domain of neoclassical economics. Moreover - even though the competitiveness is widely accepted as an analytical concept - we believe a number of problems associated with its current use exist (both in theory and in process of policy formations). Mainly, there is confusion between the micro and macro-economic understanding of concept which stems from confusion between individual and national/territorial level of analysis. We also believe that even if new trade theory (increasing returns and strategic trade) is taken into account, it is quite problematic to formulate policy recommendation for structural and industrial policy on its grounds. When the assumptions of neoclassical economics are loosened, the concept of competitiveness might prove valid. Finally we stress than even if this is the case the sensitiveness of the most of recommendations for competitiveness promotion to retaliation and potential damage resulting to international economic regime from its enforcement is rather high. Keywords: development, models of trade with imperfect competition and scale economies, trade policy, Regulation and Industrial Policy, Regional Economic Activity: Growth, Environmental Issues, and Changes, Size and Spatial Distributions of Regional Economic Activity Classification-JEL: F12, F13, L5, R11, R12 Pages: 752-769 Volume: 2013 Issue: 6 Year: 2013 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=929.pdf File-URL: http://www.vse.cz/polek/929 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2013:y:2013:i:6:id:929:p:752-769 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/929 Template-Type: ReDIF-Article 1.0 Author-Name: Slavoj Czesaný Title: Kontexty hospodářské politiky a současné finanční a hospodářské krize Title: Context of Economic Policy and the Current Financial and Economic Crisis Abstract: The objective of the article is to identify impact of economic policy implications on current financial and economic crisis. The analysis examines a hypothesis that the main causes of financial and economic crisis include unbalanced developments of the macroeconomic sphere as well as existing weaknesses of banking systems, which often do not evolve in line with the development of economy fundamentals. The article is going to inspect three areas: (i) What development trends and economic policy were registered in the pre-crisis period in order to identify the main causes of economic fluctuations of economy; (ii) How economic policies responded to the course of the financial and economic crisis; (iii) What was the effect financial crisis had on the real economy development? The main task for after-crisis periods is to improve setting of monetary and fiscal policy, bank risk management system and also system for monitoring and analysing the business cycle. Keywords: monetary policy, interest rate, macroeconomic policy, fiscal policy, demand shock, business cycle, financial stability, national debt, supply shock, asset prices, gross domestic product, unemployment Classification-JEL: E02, E32, E44, E52, F36, F44, F68, G01, G21, H30 Pages: 770-794 Volume: 2013 Issue: 6 Year: 2013 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=930.pdf File-URL: http://www.vse.cz/polek/930 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2013:y:2013:i:6:id:930:p:770-794 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/930 Template-Type: ReDIF-Article 1.0 Author-Name: Zdeněk Pikhart Title: Možnosti hodnocení fiskální pozice a stabilizační fiskální politika Title: Possible Evaluation of Fiscal Position and Stabilization Fiscal Policy Abstract: Paper deals with the assessment of the fiscal position and stabilization of government policy. First, the framework for assessment of the fiscal position and the sustainability of public finances is presented. It is justified the usage of specific data based on the ESA95 methodology, including consideration of possible alternatives. Subsequently, the government deficit is set into the framework of macroeconomic identities and expressed its impact on the current account balance and other aggregates. Sustainability of the government deficit is firstly derived from the primary balance and consequently from the overall balance. Even before it is discussed appropriate fiscal policy in the short and long term, including the role of fiscal rules, OECD methodology is presented for the calculation of structural and cyclical balance, including risks associated with their quantification. Keywords: business cycle, public finance sustainability, structural balance, crowding-out effect Classification-JEL: E01, H60, H62 Pages: 795-813 Volume: 2013 Issue: 6 Year: 2013 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=931.pdf File-URL: http://www.vse.cz/polek/931 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2013:y:2013:i:6:id:931:p:795-813 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/931 Template-Type: ReDIF-Article 1.0 Author-Name: Jana Kramulová Author-Name: Petr Musil Title: Experimentální odhad složek výdajové metody regionálního HDP v ČR Title: Experimental Estimate of Components of Expenditure Approach to Regional GDP in the Czech Republic Abstract: This paper deals with the topic of experimental computations and estimation of regional GDP components by expenditure approach in the NUTS 3 regions of the Czech Republic. As huge amount of data is necessary, this topic has not been successfully solved by official statistics yet. Just one expenditure component - gross fixed capital formation - is regionally published by the Czech Statistical Office, the others, such as final household consumption expenditures, government expenditures or net export balance, are estimated in this paper. Also the net savings of regions are experimentally computed. Different data sources needed to be used for estimations; apart from Czech Statistical Office and Institute for Regional Information data other sources as transportation statistics, health statistics etc. had to be employed. An important related issue is also the regional price level problem, whose implications are discussed in the paper as well. Finally regional differences in the structure of regional GDP are examined. Keywords: Expenditure approach, regional GDP, NUTS 3 regions, the Czech Republic, regional indicators, price levels Classification-JEL: C82, E01, E31, R10 Pages: 814-833 Volume: 2013 Issue: 6 Year: 2013 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=932.pdf File-URL: http://www.vse.cz/polek/932 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2013:y:2013:i:6:id:932:p:814-833 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/932 Template-Type: ReDIF-Article 1.0 Author-Name: Jaroslav Vostatek Title: Politická ekonomie financování zdravotní péče Title: Political Economy of Health Care Financing Abstract: The paper aims at the correspondence of the health care financing systems to the social models (welfare regimes) as defined in the social theory and policy, including the trends in the OECD and CEE countries and utilizing the lessons from typical countries. We compare the liberal, social-democratic, conservative and neo-liberal models of health care financing, mentioning the Communist model and the single-payer system as well. The National Health Service model may also today be considered as a viable, social-democratic model of the basic health protection. The social health insurance model was markedly modified by the transition to the universal health care provision to all residents and there are strengthening tendencies to the split-off of the health insurance from the social insurance system; the result might be a transition to the NHS model or, on the contrary, to the neo-liberal mandatory private insurance system. The choice of the health care financing is a question a political, economic and social choice and the particular solution is not seldom also substantially influenced by the stakeholders. That is why there are also substantial deviations of the paradigmatic reforms from the corresponding theoretical models. Keywords: health insurance, health care, National Health Service, health reform, welfare regime Classification-JEL: H51, I13, I18 Pages: 834-851 Volume: 2013 Issue: 6 Year: 2013 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=933.pdf File-URL: http://www.vse.cz/polek/933 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2013:y:2013:i:6:id:933:p:834-851 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/933 Template-Type: ReDIF-Article 1.0 Author-Name: Jaroslav Daňhel Title: Eseje o skryté roli náhody na trzích i v životě Title: Essays about Hidden Part Coincidence on the Markets and Life Keywords: - Pages: 852-856 Volume: 2013 Issue: 6 Year: 2013 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=934.pdf File-URL: http://www.vse.cz/polek/934 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2013:y:2013:i:6:id:934:p:852-856 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/934