Template-Type: ReDIF-Article 1.0
Author-Name: Jan Hanousek
Author-Name: Anastasiya Shamshur
Author-Name: Jiří Trešl
Title: Vliv korupčního prostředí na efektivitu firem v nových zemích Evropské unie
Title: Corruption and Firm Efficiency in New EU Countries
Abstract: We study the effects of corruption on firm efficiency using a unique comprehensive dataset of private firms from 10 Central and Eastern European countries for the period from 2002 to 2013. We find that an environment characterized by a high level of corruption has an adverse effect on firm efficiency. This effect is amplified for firms with a lower propensity to behave corruptly, i.e. foreign-controlled firms, while domestically-owned firms are not penalized. At the same time, an environment characterized by considerable heterogeneity in perception of corruption is associated with an increase in fim  efficiency.
Keywords: efficiency, firms, corruption, panel data, ownership structure, Europe, stochastic frontier
Classification-JEL: C14, C58, F37, G15, G17
Pages: 905-921
Volume: 2016
Issue: 8
Year: 2016
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=1117.pdf
File-URL: http://www.vse.cz/polek/1117
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2016:y:2016:i:8:id:1117:p:905-921
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/1117

Template-Type: ReDIF-Article 1.0
Author-Name: Luboš Marek
Author-Name: Petr Doucek
Title: Vývoj mezd a příjmové nerovnosti u ICT odborníků v České republice
Title: Wages Development and its Non-Equality by ICT Professionals in The Czech Republic
Abstract: This article analyses wages development in the Czech Republic since 2000 to 2014. Analysis is principal focused on ICT Professional’s (this group of employees in the economy is split into two sub groups ICT Specialists and ICT technicians) wages and its comparison to the wages in the whole Czech economy. Used data sources were collected by Ministry of Labour and Social Affairs of the Czech Republic, in the “Information System of Average Earnings” which is harmonized with the “Structure of Earnings Survey“ provided by Europen Union. Analysis is provided by ICT sub groups and by gender. For more detail analysis, is also the percentile analysis of ICT job groups in comparison to the whole Czech economy presented. Contribution of ICT Professional’s average wage to the average wage of the Czech economy increased from 0.43% in 2000 to 1.32% in 2014. The long term trend in wages of ICT Professionals in permanently increasing. Wages for ICT Specialists are significant higher then wages of ICT Technicians. The non-equality in wages is analysed by method of Gini index. This method is demonstrated by the development of GINI index for ICT Professionals and its comparison to Gini index of the whole Czech economy. Comparison shows that non equality is lower by ICT Professionals then in the Czech economy and from two job groups in ICT is the lower non equality for ICT Technicians group then for ICT Specialists.
Keywords: Gini index, wages by ICT professionals, gender aspect in wages, ICT specialists, ICT technicians
Classification-JEL: C22, E24, M15
Pages: 922-938
Volume: 2016
Issue: 8
Year: 2016
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=1118.pdf
File-URL: http://www.vse.cz/polek/1118
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2016:y:2016:i:8:id:1118:p:922-938
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/1118

Template-Type: ReDIF-Article 1.0
Author-Name: Božena Chovancová
Author-Name: Peter Árendáš
Title: Akciovový trh verzus reálna ekonomika a jej indikátor HDP
Title: The Stock Market versus the Real Economy and its Indicator GDP
Abstract: The idea of a positive relation between the real economy and share markets used to be supported by long-term analyses during the 20th century. As a result, the share market was supposed to be a "mirror" of the economy. The share markets tended to outrun the GDP development by a couple of quarters. On the other hand some researchers keep on pointing at some anomalies in the relation between share markets and the real economy in the short-term to midd-term time horizon in some countries. This problem was fully to see over the first decade of the 21st century that was typical for the changes in the structure of the global economy as well as for the increasing frequency of share market bubbles without an adequate economic growth. The aim of this paper is to show a new perspective on the relation between the share market and the real economy and to seek the reasons of their often contradictory development.
Keywords: economic cycle, stock market, indicators of economic development, market capitalization, derivatives on stock market
Classification-JEL: G11, G12
Pages: 939-952
Volume: 2016
Issue: 8
Year: 2016
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=1119.pdf
File-URL: http://www.vse.cz/polek/1119
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2016:y:2016:i:8:id:1119:p:939-952
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/1119

Template-Type: ReDIF-Article 1.0
Author-Name: Miroslav Titze
Title: Menová politika záporných úrokových sadzieb v eurozóne a Japonsku
Title: Monetary Policy o Negative Interest Rates in Eurozone and Japan
Abstract: Since 2014, European Central Bank and Bank of Japan have entered into the unchartered water of modest negative nominal interest rates, when they broke zero lower bound. Large-scale asset purchases and forward guidance effects are limited by zero nominal bound if yield curve is absolutely flat. Negative interest rate has been implemented with the aim of reinforcing effects of unconventional monetary policy and lowering real interest rates. Therefore, another decrease in nominal yield curve should ensure, that inflation target will be met in a medium term horizon. Main goal of the paper is to reveal implementation, transmission channels and risks associated with the negative interest rates. Implementation was successful within the existing framework of the current monetary policy. Negative eff ective interest rate has been reflected in sharp drop of governments yield curve and mortgage rates. According current constellation of negative interest rates, monetary effect outperforms potential unintended impacts. On the other side, there are many risks mainly for financial stability and financial market functioning, if negative interest rates will be under effective zero lower bound or will persists for an extended period.
Keywords: Bank of Japan, negative interest rate, effective zero lower bound, Eurosystem, transmission channels of negative interest rate
Classification-JEL: E43, E50, E52
Pages: 953-972
Volume: 2016
Issue: 8
Year: 2016
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=1120.pdf
File-URL: http://www.vse.cz/polek/1120
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2016:y:2016:i:8:id:1120:p:953-972
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/1120

Template-Type: ReDIF-Article 1.0
Author-Name: Robin Maialeh
Title: Fundamentální koncept nerovnosti v perspektivě paretovské ekonomie
Title: A Fundamental Concept of Inequality in the Perspective of Paretian Economics
Abstract: Pareto efficiency plays the leading role throughout all branches of political economy. Frequently applied on various economic issues, Pareto efficiency decides on the optimal balance of resource distribution among economic agents. On the other hand, the current state of unequal distribution stimulates new economic researches to bring to light the relationship between market mechanism and observed inequality. The aim of the study is to provide a unique perspective on market-based inequalities which are derived from the self-preserving rationality of agents, and to prove that market mechanism inherently contains diverging forces. Additionally, it is showed that such divergences are not investigable by Pareto-optimization process; the process whose frequent misuse and misinterpretation obscures the general diverging drive of market mechanism and the process which may corrupt results of theoretical researches in the field.
Keywords: market mechanism, Pareto efficiency, inequality, self-preserving rationality
Classification-JEL: D01, D61, D63, E21
Pages: 973-987
Volume: 2016
Issue: 8
Year: 2016
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=1121.pdf
File-URL: http://www.vse.cz/polek/1121
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2016:y:2016:i:8:id:1121:p:973-987
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/1121

Template-Type: ReDIF-Article 1.0
Author-Name: Jaromír Harmáček
Author-Name: Miroslav Syrovátka
Author-Name: Martin Schlossarek
Author-Name: Petr Pavlík
Title: Jak měřit prospěšnost růstu pro chudé? Analýza ukazatelů a jejich komparace na případu Bangladéše
Title: Measuring Pro-Poor Growth: Analysis of Indicators and their Comparison Applied to Bangladesh
Abstract: The paper analyzes the theory and construction of four indicators of pro-poor growth and applies them to Bangladesh over two time periods, 2000-2005 and 2005-2010. The following indicators were used: pro-poor growth index (Kakwani and Pernia, 2000), poverty equivalent growth rate (Kakwani and Son, 2008), poverty growth curve (Son, 2004), and the rate of pro-poor growth (Ravallion and Chen, 2003). Applied to Bangladesh, the results of the four indicators mostly point in the same direction. While the conditions for the pro-poor growth in the strict (relative) sense were rarely met, all the indicators suggest there was a certain degree of pro-poor element in the growth process. However, there were noticeable diff erences between the two periods. In the fi rst period, the growth led to a faster reduction in absolute poverty while inequality increased, whereas in the second period the poor benefi ted relatively more from growth but the reduction of poverty was less pronounced (since the growth in the mean income was lower in the second period). The results also show that the relatively richer part of the poor population (those not far below the poverty line) benefi ted more from the growth process than the poorest of the poor.
Keywords: poverty, inequality, pro-poor growth, Bangladesh
Classification-JEL: I320, O150
Pages: 988-1005
Volume: 2016
Issue: 8
Year: 2016
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=1098.pdf
File-URL: http://www.vse.cz/polek/1098
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2016:y:2016:i:8:id:1098:p:988-1005
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/1098

Template-Type: ReDIF-Article 1.0
Author-Name: Martin Mandel
Title: Brilantní analýza fungování eurozóny v duchu německého ordoliberalismu
Pages: 1006-1010
Volume: 2016
Issue: 8
Year: 2016
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=1122.pdf
File-URL: http://www.vse.cz/polek/1122
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2016:y:2016:i:8:id:1122:p:1006-1010
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/1122

Template-Type: ReDIF-Article 1.0
Author-Name: Samy Metrah
Title: Nejlepší publikace za rok 2015 dle Financial Times, The Economists a skupiny Bloomberg
Pages: 1010-1016
Volume: 2016
Issue: 8
Year: 2016
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=1123.pdf
File-URL: http://www.vse.cz/polek/1123
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2016:y:2016:i:8:id:1123:p:1010-1016
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/1123