Acta Oeconomica Pragensia, 2011 (vol. 19), issue 6
A Hegemonic and a Post-Hegemonic World Functioning and the New Global Monetary and Financial System
Martina Jiránková
Acta Oeconomica Pragensia 2011, 19(6):3-20 | DOI: 10.18267/j.aop.348 
The article deals with the world functioning from the view of the hegemonic stability theory, which proposes that open international systems are connected with a dominant state existence, and possibly its post-hegemonic functioning in the form of country co-operation. The question is demonstrated on the example of the US dollar performing the role of the key world currency in both private and official use at present: it prevails in foreign currency transactions, in international reserves, in overseas bank deposits and loans, etc. Problems of the global economy, especially global imbalances, have led to suggestions by China, other countries and the...
Public Debt in the Central and Eastern European Countries. Development in the Context of the World Economic Crisis
Eva Karpová
Acta Oeconomica Pragensia 2011, 19(6):21-38 | DOI: 10.18267/j.aop.349
Many of the Central and Eastern European countries faced general government balance problems in the 1990s, already during their transition period. Moreover, these problems continued during their EU accession. After both the Eastern enlargements, the situation was improving and, besides, the general government debt were kept at low levels. Later on, however, the economic crisis brought serious difficulties to general government balances. General government debt were also increasing. The article brings an overview and comments on these facts in a macroeconomic context. (Figures and comments are primarily deduced from Eurostat and OECD sources.)
Future of Economic History at the Czech Universities
Radek Soběhart, František Stellner
Acta Oeconomica Pragensia 2011, 19(6):39-45 | DOI: 10.18267/j.aop.350
The article deals with the question of the present position of economic history as a theoretical framework of scientific specialization and university study branch in the Czech Republic. It focuses on the Central European tradition and analyzes reasons for the connection between economic and social history. It concentrates on the question whether economic history can exist as an autonomous discipline, on which theoretical basis economic history could be built, and from where to derive methodological inspiration. The authors claim that currently the social historians do not consider the connection with economic history as pivotal. They regard the position...
Possibilities of Individual Claim Reserve Risk Modeling
Pavel Zimmermann
Acta Oeconomica Pragensia 2011, 19(6):46-64 | DOI: 10.18267/j.aop.351
This article outlines possibilities of modeling the distribution of the future liabilities of an insurance company that stem from a past claim which has not yet been settled. Such a model might be used as a key component of the internal model of the reserve risk of an insurance company. It focuses on a probabilistic description of the settlement process of an individual loss, i.e., on the development of the incurred value over the lifetime of the loss. Such a model allows setting up an internal model based on an individual claim level instead of the aggregate claim level common nowadays. The proposed model respects two main restrictions given by potential...
Is Bribery a Good Way to Improve Efficiency in Law Enforcement?
Tomáš Otáhal
Acta Oeconomica Pragensia 2011, 19(6):65-79 | DOI: 10.18267/j.aop.352
The economic theory of the last decades deals with how certain models of institutions and incentives could improve the coordination of individual actions in society. Setting rules regulating relationships between economic agents is considered as the key requirement of such coordination. Nevertheless, the rule has no impact if it is not enforced. Gary Becker and George Stigler suggest a solution that could significantly contribute to efficiency in law enforcement. Gordon Tullock does not agree with their idea. The aim of the paper is to analyze their arguments and to answer the question: "Is Becker's and Stigler's recommendation a good way to efficiency...
Business Presentations: An Easy-to-Learn Skill or a Nightmare?
Kateřina Young
Acta Oeconomica Pragensia 2011, 19(6):80-92 | DOI: 10.18267/j.aop.353
Most Business English instructors at the university level face a problem when dealing with Czech college students: an "information" loaded report, which is a result of the knowledge based educational system where the old "referat" still seems to prevail but has been replaced by a trendier term, called a "presentation," in a Power Point format. When faced with the "Anglo" presentation style, students often fall in despair mentioned above. Their prior experience of a "presentation" stands in sharp contrast to the foreign instructors' requirements and to the demands of the current workplace. The lack of students' awareness of and skills in preparing such...