Acta Oeconomica Pragensia, 2013 (vol. 21), issue 6
A New Generation of Environmental Risks
Luboš Smrčka, Markéta Arltová
Acta Oeconomica Pragensia 2013, 21(6):3-20 | DOI: 10.18267/j.aop.418 
This paper uses as its point of departure a hypothesis that support to renewable sources by means of various subsidies, regulatory measures and tax changes is implemented not only in costlier energy, but also (given various new forms of economic pressure) in those areas of human activity that are meant to be helped and strengthened by these measures. The relationship between strengthening the pressure for advancing renewable energy sources and data such as CO2 emissions or fossil fuel consumption in households is also mathematically tested. Besides this, certain data in the area of agricultural production are also examined, considering the fact that...
The Influences of Financial Institutions and the Money Circulation Mechanism on Business Cycles: The Case of the USA
Jiří Štekláč
Acta Oeconomica Pragensia 2013, 21(6):21-44 | DOI: 10.18267/j.aop.419
The aim of this paper is to analyze the structure of the current financial system, including money circulation in it, and define its influence on business cycles. The paper examines causes of disturbances in money circulation which lead to shallow or even deep economic crises. The role of central banks is marginal. The author concludes that proper functioning of the current financial system is subject to constant credit growth. If credit growth is insufficient, the system collapses due to money hoarding and other disorders in money circulation. It causes inability to repay the debts, which results in uncertainty and reduces aggregate demand. The entire...
Capital Requirements Directive IV and Basel 3 - Benefits, New Rules and Their Impact
Tomáš Šťastný, Tomáš Čech
Acta Oeconomica Pragensia 2013, 21(6):45-64 | DOI: 10.18267/j.aop.420
This article is devoted to the banking sector regulation in the European Union and worldwide. The banking regulation is used to control banking risk activities and sustainable portfolio growth. Basel Committee on Banking Supervision (BCBS) coordinates this regulation process and supervision in the world. BCBS prepared the latest regulation called Basel 3. The European Union implemented Basel 3 with legislative package called CRD IV. We describe Basel 3 and CRD IV provisions with focus on capital adequacy, liquidity and leverage. CRD IV improves the capital quality and brings new capital buffers for systemic important institutions and systemic risk,...
Predicting the Prices of Electricity Derivatives on the Energy Exchange
Štěpán Kratochvíl, Oldřich Starý
Acta Oeconomica Pragensia 2013, 21(6):65-81 | DOI: 10.18267/j.aop.421
There is a need to focus on electricity derivative trading, because this is an important and expanding field. The aim of this paper is long-term forecasting of the daily futures prices. Two approaches were used for this, namely the use of spot price forecasting to model the future prices and forecasting future prices directly. We will show on an EEX case study that better results can be achieved by the first approach, where we use mean-reverting, jump-diffusion and regime-switching models for spot price forecasting. The best results of spot price forecasting are achieved by the jump-diffusion model, where we will present the benefit of the use of filtered...
Internationalisms and "False Friends" in Professional French
Janka Priesolová
Acta Oeconomica Pragensia 2013, 21(6):82-90 | DOI: 10.18267/j.aop.422
The paper focuses on the occurrence of internationalisms in languages and especially historically assimilated internationalisms in the vocabulary of professional French and Czech from the point of view of not only semantic but also formal interferences between the French and the Czech languages. It analyzes mainly the lexical and grammatical "false friends" (faux amis) in professional French, which show semantic and stylistic differences socio-historically determined, in spite of the formal similarities. It also points out the excessive use of foreign words, especially Anglicisms, and the specific French way of solving this problem at the institutional...