Template-Type: ReDIF-Article 1.0
Author-Name: Jaroslav Rusnák
Author-Name: Filip Lehocký
Title: Aglomeračné výhody a technologická náročnosť odvetví priemyselnej výroby na Slovensku
Title: Agglomeration Economies and Technology Intensity of Industry Sector in Slovakia
Abstract: This paper analyses the geographical concentration of the industry sector according to technology intensity of industries. The analysis of spatial distribution employs a database including information on the number of plants at the 2-digit level of sector aggregation in the period 1997-2016. We estimate parameters for a spatial panel data analysis with random and fixed effects in order to examine two related research questions: (1) to what extent are the effects of internal economies of scale present in the technology-intensive industries; and (2) which types of external economies of scale are used by different industries depending on technology intensity. Our results indicate that the regional industrial structure of Slovakia has become more diverse. As a consequence of the phase of economic integration, some of the regions have been integrated into global production networks and maintain high levels of specialisation.
Keywords: diversification, economies of scale, technology-intensive industry, manufacturing sector, specialisation, industry of Slovakia
Classification-JEL: L16, L17, O14
Pages: 426-443
Volume: 2019
Issue: 4
Year: 2019
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=1241.pdf
File-URL: http://www.vse.cz/polek/1241
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2019:y:2019:i:4:id:1241:p:426-443
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Template-Type: ReDIF-Article 1.0
Author-Name: Luboš Marek
Author-Name: Stanislava Hronová
Author-Name: Richard Hindls
Title: Možnosti odhadů krátkodobých makroekonomických agregátů na základě výsledků konjunkturních průzkumů
Title: Possibilities of Estimations of Short-term Macroeconomic Aggregates Based on Business Surveys Results
Abstract: The aim of the article is to construct a model for estimating the quarterly gross value added (GVA) of the national economy (GDP) based on the results of business surveys (so-called confidence indicators) in industry, construction, commerce and services (incl. banking sector), and to set the forecast for four quarters ahead. The suitability of the applied approach is assessed using pairwise dependencies for individual sectors. In the case of both pairwise and multidimensional dependencies, the authors proceed from a linear dynamic model, which is a combination of ARIMA models (or SARIMA models) in conjunction with regression analysis, where the variables explained are time-shifted. The quality of the estimated models is proven to be very high. The analysis shows a significant link between the sector’s gross value added and sectoral confidence indicators. Significant predictors of the GVA of the national economy and GDP show explanatory variables of confidence indicators in industry and construction, whereas indicators of confidence in trade and services were statistically insignificant. Timely knowledge of these indicators in conjunction with linear dynamic models allows better and faster predictions of quarterly GVA and GDP than with conventional time series models.
Keywords: forecasting, business surveys, business expectations, short-term GDP forecasting, time series analsis
Classification-JEL: C22, E01, E32
Pages: 347-370
Volume: 2019
Issue: 4
Year: 2019
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=1243.pdf
File-URL: http://www.vse.cz/polek/1243
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2019:y:2019:i:4:id:1243:p:347-370
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Template-Type: ReDIF-Article 1.0
Author-Name: Martin Dluhoš
Author-Name: Jozef Gajdoš
Author-Name: Zuzana Hajduová
Title: Reálna konvergencia logistickej výkonnosti krajín sveta, EÚ a V4
Title: Real Convergence of Logistics Performance of Countries of the World, EU and V4
Abstract: Using the database of logistics performance of countries in the period 2007-2016, we study the convergence of countries in terms of logistics performance across the world, the European Union and V4. In comparison with other beta-convergence studies using the OLS estimation method, we also implement a conditional quantile regression (Koenker and Bassett, 1978). The use of the quantile regression allows us to study the convergence of countries not only from the point of view of the average, but also from the perspective of different quantiles of conditional distribution. We identify countries with different leveles of convergence and quantify different levels of convergence across countries of the world. The results provide empirical evidence of the logistics convergence of countries across the world, and also demonstrate that the countries of the European Union and V4 achieve a higher level of convergence than the average convergence of countries across the world during the review period.
Keywords: EU, logistics performance, beta convergence, conditional quantile regression, V4
Classification-JEL: C21, F62, O11
Pages: 406-425
Volume: 2019
Issue: 4
Year: 2019
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=1244.pdf
File-URL: http://www.vse.cz/polek/1244
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2019:y:2019:i:4:id:1244:p:406-425
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpol/references/1244

Template-Type: ReDIF-Article 1.0
Author-Name: Igor Kotlán
Author-Name: Daniel Němec
Author-Name: Zuzana Machová
Title: Právní nejistota v daňové oblasti a její dopady na nabídku práce v České republice
Title: Legal Uncertainty in Taxation and Its Impacts on Labour Supply in the Czech Republic
Abstract: This article builds on long-term research by authors in the field of tax burden and its impacts, incorporating a newly designed indicator of legal uncertainty in the tax area which is conceived on the basis of a detailed description of the legislation. This indicator, together with other important factors, is incorporated into the tax system model and its links and influence on the behaviour of economic actors are examined. The aim of the article is to evaluate the impact of legal uncertainty in taxation on the labour supply in the Czech Republic. From a methodological point of view, DSGE modelling and quarterly data for the period 2002-2016 are used. The main conclusion of the study is the confirmation of the negative impact of uncertainty on all examined taxes. At the same time, in all the cases, a shift from the official to the shadow economy occurs.
Keywords: taxation, uncertainty, social security contributions, DSGE modelling
Classification-JEL: C68, E62, K34
Pages: 371-384
Volume: 2019
Issue: 4
Year: 2019
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=1246.pdf
File-URL: http://www.vse.cz/polek/1246
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2019:y:2019:i:4:id:1246:p:371-384
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Template-Type: ReDIF-Article 1.0
Author-Name: Aleš Michl
Title: Peníze a inflace: ztracená kointegrace
Title: Money and Inflation: Lost Cointegration
Abstract: Using a cointegration, we show that there is no long-term relationship between money in the economy M and real (and nominal) GDP and CPI (US data from 1959 to 2018). There is no empirical evidence to support the textbook claim that “inflation is always and everywhere a monetary phenomenon”. Only when we shorten the time series to the period before the crisis (1959-2008), there is a cointegration between CPI and M2, but only at the 10% significance level and only according to one of two co-integration tests. The relationship that existed before the crisis either had to fall apart or change. There are three possible explanations: (1) The growth of M in lowinflation economies (CPI below 10% annually) is distributed more equally between CPI and real GDP than in the event of significant changes in M. (2) The falling velocity of money after the crisis of 2008/2009. (3) The last possibility is an increase in the adequacy problem of inflation - the CPI does not adequately reflect the economic definition of inflation.
Keywords: inflation, cointegration, quantity theory of money
Classification-JEL: C12, E40, E51
Pages: 385-405
Volume: 2019
Issue: 4
Year: 2019
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=1255.pdf
File-URL: http://www.vse.cz/polek/1255
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2019:y:2019:i:4:id:1255:p:385-405
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Template-Type: ReDIF-Article 1.0
Author-Name: Luboš Smrčka
Title: Hluboká a podnětná analýza fungování Evropské unie z pohledu teorie veřejné volby
Pages: 448-451
Volume: 2019
Issue: 4
Year: 2019
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=1205.pdf
File-URL: http://www.vse.cz/polek/1205
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2019:y:2019:i:4:id:1205:p:448-451

Template-Type: ReDIF-Article 1.0
Author-Name: Jaroslav Daňhel
Title: Aktuální stav řízení rizik a regulace bankovnictví
Pages: 444-447
Volume: 2019
Issue: 4
Year: 2019
File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=1249.pdf
File-URL: http://www.vse.cz/polek/1249
File-Format: text/html
Handle: RePEc:prg:jnlpol:v:2019:y:2019:i:4:id:1249:p:444-447