Acta Oeconomica Pragensia, 2012 (vol. 20), issue 1
Contemporary Economics Dilemma: High Ethics or More Extensive Governing?
Jaroslav Daňhel, Eva Ducháčková
Acta Oeconomica Pragensia 2012, 20(1):3-12 | DOI: 10.18267/j.aop.354 
The authors of the article point out that economic theory has failed to yield a solid theoretical background in critical situations such as the current financial and economic crisis and the transformation of post-communist economies. Mainly the present crisis opens the question of the unsatisfactory status of economic science. While classical liberal or Keynesian concepts are failing, theorists cannot look to mathematical modelling for help. It seems that traditional concepts malfunction, and the financial market is particularly predisposed for this process. The application of mathematical models is overvalued. The article calls attention to the possible...
Visegrad Four Labour Markets and the Economic Crisis
Zuzana Potužáková
Acta Oeconomica Pragensia 2012, 20(1):13-24 | DOI: 10.18267/j.aop.355
The world-wide economic crisis has deeply influenced the Visegrad Four (V4) countries, just as the other European regions. Before the crisis, the V4 region was considered monolithic in many aspects and displaying many of the same attributes. However, the economic crisis has deepened the differences among the V4 member states. The economic crisis has also had an impact on their labour markets. It has been due to the huge openness of their economies depending on export territories in EU-15 Member States. The aim of the paper is to compare the situation on the V4 labour markets before and after the economic crisis. In the first part, we focus on the impacts...
Institutional Differences Between the British and German Economic Models: Corporate Sector and Labour Market
Lukáš Marek
Acta Oeconomica Pragensia 2012, 20(1):25-38 | DOI: 10.18267/j.aop.356
The aim of this paper is to compare some of the significant institutional differences between the British and German economic models. This paper builds on a methodological framework developed by institutional economics. Comparative research carried out in this paper focuses on three institutional fields in both market economies: control of management, corporate finance and labour market. In the UK, we can find evidence suggesting an important role of the market for corporate control, exerting pressure on management to deliver good corporate performance. On the other hand, in Germany, we find an important role of banks that exert direct control over...
Agricultural Prices of Pork at the Regional Level and the Law of One Price
Petra Bubáková
Acta Oeconomica Pragensia 2012, 20(1):39-51 | DOI: 10.18267/j.aop.357
Farmers earn their main income from selling agricultural commodities. Stability as well as the level of income are determined by the amount of production and market prices. Prices and price policies on the agricultural market could have a great impact on the success of programmes themselves. This paper focuses on research of relationships between prices at the regional level. The aim of this paper is to evaluate the relationship between prices at the regional level for selected regions of Bohemia and try to confirm that the Law of One Price is valid there. Agricultural prices for pork producers were used for the analysis. The data set has 157 observations...
Specifics of French Direct Taxation and its Terminological Aspects
Adéla Schrecková
Acta Oeconomica Pragensia 2012, 20(1):52-68 | DOI: 10.18267/j.aop.358
This thesis originated as part of the academic project IGA FMV VŠE no. 13/2010 ("European terminology within the field of economy and law") and focuses on the system of direct taxation in France, especially on direct taxes we would not find in the Czech Republic. The goal is to describe these specific taxes and related terminological differences. The first part of this thesis describes the specific aspects of the French system of direct taxation and its structure compared to the structure of direct taxation in the Czech Republic. The next part is divided into four sections (personal income taxes, corporate income taxes, property taxes, and local taxes)....
A Comparison of Classical and Bayesian Probability and Statitics (1)
Petr Hebák
Acta Oeconomica Pragensia 2012, 20(1):69-87 | DOI: 10.18267/j.aop.359
Statistics has been developing for almost 250 years - since the publication of an essay which included one theorem called Bayes' after the author. This whole period (since 1763 to this day) has been accompanied by a duel between the supporters of a subjective concept of probability and those who refuse everything but a purely objective concept of probability as well as statistics. While the 18th and 19th centuries accepted the importance of the subjective (let us say Bayesian) way of thinking for the development of probability and statistics without a problem, in the 20th century the classic (frequentist) way took over and has been dominant in teaching...