Acta Oeconomica Pragensia, 2009 (vol. 17), issue 2

Credit support to investment in the Czech republic

Karel Janda

Acta Oeconomica Pragensia 2009, 17(2):3-20 | DOI: 10.18267/j.aop.10  

The paper concentrates on the description of the Czech institutions which provide credit support to small and medium-sized entrepreneurs, farmers and exporters. The paper analyses the operations of the Czech-Moravian Guarantee and Development Bank and the Support and Guarantee Agricultural and Forestry Fund. The activities of these institutions are covered in the general context of development and guarantee banking, and the European Union's Common Agricultural Policy. A separate section of the paper is devoted to the operational programs of the European Union.

Market liquidity risk and its incorporation into value at risk

Petr Strnad

Acta Oeconomica Pragensia 2009, 17(2):21-37 | DOI: 10.18267/j.aop.11  

Over the past few years, the Value at Risk indicator (VaR) has evolved, without doubt, into the most frequently used comprehensive tool for assessment of potential losses caused by adverse changes in market rates. However, the common models used for VaR assessment are based only on mid prices and do not take into account the existence of time-varying bid-ask spreads. In addition, they assume that any amount of instruments can be sold almost immediately without an adverse impact on prices. Thus, they focus only on pure market risks without taking into account the market liquidity. As a consequence, they underestimate the total risk.This paper focuses...

The microeconomic and macroeconomic significance of reinsurance

Zuzana Krátka

Acta Oeconomica Pragensia 2009, 17(2):38-51 | DOI: 10.18267/j.aop.12  

Amongst the most significant macroeconomic functions of reinsurance are the stabilizing, innovative and accumulative functions. The most important microeconomic functions of reinsurance are the protection of the cedent and the protection of the insureds. Reinsurance increases the insurance companies' capacity, diversifies their risk portfolios, allows for quantitative and qualitative broadening of the accepted risks' spectrum, strengthens their solvency and economic stability and enables them to gain necessary know-how. In the long run, reinsurance is a stabilizing factor for not only individual insurance subjects but the entire economy as well.

Enhancement of the teachers work at the upper - secondary schools to special regard to subject of economics

Alena Králová

Acta Oeconomica Pragensia 2009, 17(2):52-65 | DOI: 10.18267/j.aop.13  

In connection with the Czech Republic accession to the European Union there is an effort to enhance educational system so that students can compete not only in the Czech labour market but also in the markets of the other European Union member countries. At the secondary schools in economic education is necessary to provide some changes in structure of subjects, contents, structure and methods of teaching. The paper is devoted to the innovation of subject economics, which belongs between basic compulsory economic subjects and is taught at all secondary schools. It characterizes his history and some key changes which can be with creating school education...

Beneš, that "unpredictable Slavic mason": the attitude of Italy towards Beneš's policy in central Europe and the Danube basin, 1927-1928

Ondřej Houska

Acta Oeconomica Pragensia 2009, 17(2):66-82 | DOI: 10.18267/j.aop.14  

The study analyses the attitude of Italy towards Czechoslovak plans for strengthening the status quo in Central Europe and the Danube Basin, which were of both economical and political nature. Czechoslovakia unsuccessfully tried to create a grouping of small and medium-sized states, which was supposed to lead to consolidation of that region. The reason was the fear of future economical and political pressure of Germany and of Italian power politics. Italy should stay out of this bloc. Czechoslovak plans were refused by Rome unequivocally as Italy aimed at establishing its own hegemony in Central Europe and the Danube Basin. Such contradictions resulted...

The purpose of metaphor in stock exchange journalism in german-speaking countries

Jaroslav Březina

Acta Oeconomica Pragensia 2009, 17(2):83-88 | DOI: 10.18267/j.aop.15  

It is well known that the Stock Exchange reports still use many metaphoric instruments. However, the reason for this situation is one of the widely discussed topics in linguistic research. There are a lot of theories, describing metaphors as an important cognitive element of this specific language, and many theories characterising metaphors only as an ornate element without any significant function. This article attempts to answer some of the questions arising from these interesting linguistic issues.