Acta Oeconomica Pragensia, 2015 (vol. 23), issue 4
China's Trade with Central and Eastern European EU Members: an Analysis of Eurostat Data, 2004-2014
Jeremy Garlick
Acta Oeconomica Pragensia 2015, 23(4):3-22 | DOI: 10.18267/j.aop.478 
China is rapidly becoming one of the most significant trading partners of EU countries. This is as much the case for the 11 Central and Eastern European countries (CEE11) which entered the EU in 2004, 2007 and 2013 as for the older members. This paper sets out to examine data obtained from the Eurostat database concerning trade between the CEE11 and China between 2004 and 2014 in an attempt to clarify two main questions. Firstly, are there any differences between individual CEE countries' trade with China during the last decade? Secondly, have the Visegrad (V4) countries (Poland, the Czech Republic, Hungary and Slovakia) obtained any advantages over...
An updated Model of Financial Fragility based on General Equilibrium Analysis
Ondřej Machek, Luboš Smrčka
Acta Oeconomica Pragensia 2015, 23(4):23-42 | DOI: 10.18267/j.aop.479
Financial fragility and instability of banking sectors has received increased academic attention due to recent financial crises around the world. The objective of the article is to extend and adapt a previously created financial fragility model of the Czech financial sector in order to reflect its specific conditions. It introduces the concept of minimum required reserves and uses consistent sources of data collected from annual reports of Czech banks in 2013. Besides the prediction of default of households, the model also allows a prediction of key macroeconomic variables such as the inflation and unemployment rates. However, some of the issues of...
Property Tax in Prague: Quantifying the current Situation and potential Changes on the Basis of Data from Tax Returns
Petr Janský, Jiří Šatava
Acta Oeconomica Pragensia 2015, 23(4):43-62 | DOI: 10.18267/j.aop.480
The relatively low property tax in the Czech Republic is determined partly by the respective law and partly by coefficients set by municipalities. Only some municipalities take advantage of their power to change these coefficients; this is partly due to insufficient information about the possibilities and their impacts. The objective of this article is to quantify the impacts of the current situation as well as of selected changes and thus provide a basis for public discussion about the design and rate of property tax in the Czech Republic. In the empirical part, based on detailed anonymised data from tax returns, we focus on the capital city Prague....
Global Tourism and Implications for the Czech Republic
Milan Vošta, Josef Abrhám
Acta Oeconomica Pragensia 2015, 23(4):63-77 | DOI: 10.18267/j.aop.481
Tourism is characterized by constant spatial expansion and diversification. It is one of the fastest growing global economic sectors. Local economic fluctuations undoubtedly have a significant influence on the development of tourism. The aim of this study is to highlight the crucial importance particularly of stimulating and realisation presumptions, which greatly influence the demand for tourist activities on a global scale in recent years with implications for the Czech Republic. The theoretical base of the paper consists of an overview of concepts of market performance, and multi-criteria competitiveness of tourism destinations is introduced here....
Half-Forgotten Personalities of Economic Thought - Robert Owen
Pavel Sirůček
Acta Oeconomica Pragensia 2015, 23(4):78-85 | DOI: 10.18267/j.aop.482
Robert Owen was a British businessman, thinker, philanthropist, campaigner and reformer, who was looking non-violently for an alternative system. He is said to be a pioneer of socialism in Britain and a leader of the utopian socialist movement in the 19th century. He is also known as a predecessor of the cooperative movement. He tried to start a set of reforms, which were not followed.