Politická ekonomie, 2018 (vol. 66), issue 2

prof. Ing. Lubomír Cyhelský, DrSc.

Richard Hindls, Prokop Závodský

Politická ekonomie 2018, 66(2):147-149 | DOI: 10.18267/j.polek.1228  

(12. 10. 1929 – 22. 1. 2018)

doc. Ing. Tomáš Ježek, CSc.

Miroslav Ševčík

Politická ekonomie 2018, 66(2):150-156 | DOI: 10.18267/j.polek.1229  

(15. 3. 1940 Plzeň – 29. 11. 2017)

Articles

Vliv realizace strukturální pomoci Evropské unie na hospodářský cyklus a fiskální politiku České republiky

The Influence of the Implementation of European Union Cohesion Policy on the Economic Cycle and the Fiscal Policy in the Czech Republic

Pavla Chmelová

Politická ekonomie 2018, 66(2):157-177 | DOI: 10.18267/j.polek.1182  

This article examines the impact of EU Cohesion Policy delivered through the European Structural and Investment Funds in the economic cycle and the fiscal policy of the Czech Republic in the years 2004-2015. Revenue arising from the EU increases aggregate demand, and this is a regular instrument for stabilizing fiscal policy. The key conclusion of the analysis is based on regression analysis, and there is demonstrate the procyclical nature of the EU Regional Policy and its negative impact on the effectiveness, efficiency, and economy of national resources. Temporal definition of programming periods and the ability to prepare projects and their implementation...

Vplyv verejného dlhu a jeho štruktúry na ekonomického rast vybraných vyspelých krajín

The Influence of Public Debt and Its Structure on Economic Growth of Advanced Economies

Martin Murín

Politická ekonomie 2018, 66(2):178-200 | DOI: 10.18267/j.polek.1183  

The aim of this paper is to explore the influence of public debt structure on economic growth of advanced economies. The investigation mainly focuses on shifts in public debt structure which does not change the level of debt quota. Methodical approach follows similar exercises developed to evaluate the effects of tax shifts on economic growth. Debt decompositions are made according to i) original maturity of instruments; ii) currencies; iii) residency of creditors; iv) kind of instrument. The panel data regression of 24 OECD countries in the period from 2000 to 2014 is used. The main findings suggest that the structure of public debt matters to economic...

Investice v transmisním mechanismu cílování inflace verifikace zdrojů variability investic v České republice

Investment in the Transmission Mechanism of Inflation Targeting - Verification of Sources of Investment Variability in the Czech Republic

Lukáš Kučera

Politická ekonomie 2018, 66(2):201-217 | DOI: 10.18267/j.polek.1184  

The paper is devoted to the topic of investment with emphasis on their position within the transmission mechanism of inflation targeting. It briefly discusses starting-points of inflation targeting regime, individual transmission channels of monetary policy, and routes through which the central bank may influence the investment. There are mentioned selected investment theories. Other factors, whose changes may induce changes in investment, are derived using these theories. Using available data, sources of investment variability are verified for the Czech Republic. Correlation analysis is performed and the vector error correction model is compiled....

Ceny biopaliv a souvisejících komodit: analýza s použitím metod minimální kostry grafu a hierarchických stromů

Prices of Biofuels and Related Commodities: an Analysis Using Methods of Minimum Spanning Tree and Hierarchical Tree

Ondřej Filip, Karel Janda, Ladislav Krištoufek

Politická ekonomie 2018, 66(2):218-239 | DOI: 10.18267/j.polek.1185  

The article investigates the connections between the prices of biofuels and many traded commodities and other relevant assets in Europe, USA and Brazil. The analysis uses a comprehensive dataset covering price data for 32 relevant traded titles over the period 2003-2015. Main contribution of this article is a combination of minimum spanning tree and hierarchical tree approaches with expert economic understanding of biofuels market leading to identification of price connections in a complex trading system. Our analysis of mutual price connections discovers the major defining features of world leading biofuels markest over the last decade. We provide...

Makroekonomické dopady rozšiřování sociálních služeb pro stárnoucí populaci České republiky

Macroeconomic Impacts of the Expansion of Social Services for Ageing Population of the Czech Republic

Jitka Langhamrová, Martina Šimková, Jaroslav Sixta

Politická ekonomie 2018, 66(2):240-259 | DOI: 10.18267/j.polek.1186  

Czech society is ageing, and the availability of these services should be important part of social strategy for the Czech Republic. Thus, the development in this area is not optimal and much more attention should be put on. Increasing life expectancy cause not only higher demands on the pension systems but also higher demands on social services. This is emphasised by the slower increase of healthy life expectancy and therefore it can be assumed that more people in higher age will require more social services. The paper deals with the issue of the macroeconomic costs and benefits of satisfying the requirements for residential care activities, especially...

Consultations

Tradičný a alternatívny pohľad na synchronizáciu hospodárskych cyklov v Európskej únii

Traditional and Alternative Look at the Business Cycle Synchronisation in the European Union

Marianna Siničáková, Veronika Šuliková, Ľubica Štiblárová

Politická ekonomie 2018, 66(2):260-277 | DOI: 10.18267/j.polek.1187  

The aim of the paper is to present traditional and alternative look at the evolution of business cycle synchronisation in the European Union throughout four periods determined according to integration process. Gradually we apply cross-correlations and rather alternative minimum spanning tree method to evaluate synchronization process and core or peripheral countries. An endogeneity argument and decreasing asymmetries among integrated countries were confirmed with a light rupture during financial and economic crisis. Position of France and Germany as core countries was corroborated. However, single monetary policy should be implemented according to...

Book reviews

Další bublina, nebo opravdu epochální změna?

Pavel Sirůček

Politická ekonomie 2018, 66(2):278-283 | DOI: 10.18267/j.polek.1188