Politická ekonomie, 2017 (vol. 65), issue 1

Dopady vlastnické struktury, firemních charakteristik a krize na efektivitu českých podniků

Impact of Ownership Type, Firm Characteristics and Crisis on Efficiency of the Czech Firms

Jan Hanousek, Evžen Kočenda

Politická ekonomie 2017, 65(1):3-25 | DOI: 10.18267/j.polek.1124  

We analyze how efficiency of firms in the Czech Republic is affected by their size, age, competition, capital structure, ownership types, and global financial crisis. We employ the stochastic frontier approach, use a large and detailed dataset, and cover time span 2001-2012. While effects of firm characteristics are small, the effects of ownership are economically substantial. We show that majority owners are most contributive with respect to firm's efficiency when compared to other categories we analyze. Minority owners with legally grounded power are able to impose significant efficiency improvement. The effect of the foreign ownership is strongest...

Diagnostikovanie finančného zdravia podnikov pomocou metódy DEA: Aplikácia na podniky v Slovenskej republike

Diagnosing of the Corporate Financial Health Using DEA: an Application to Companies in the Slovak Republic

Viera Mendelová, Tatiana Bieliková

Politická ekonomie 2017, 65(1):26-44 | DOI: 10.18267/j.polek.1125  

The paper deals with the examining the possibilities for diagnosing the corporate financial health using Data Envelopment Analysis (DEA) technique. The main aim of the paper is to present a new proposal for diagnosing the corporate financial health by DEA, to predict financial distress of Slovak manufacturing companies using the proposed procedure, and to assess the potential of DEA as a tool for predicting financial distress of the company. Due to the special input and output variables selection and the construction of the Corporate Distress Frontier, the proposed procedure is very different from the conventional use of DEA. The proposed two-step...

Jaká je optimální míra úspor z pohledu příjemců úroků?

What is the Optimum Saving Rate from the Perspective of the Receivers of Interest?

Pavel Potužák

Politická ekonomie 2017, 65(1):45-61 | DOI: 10.18267/j.polek.1126  

This paper investigates the optimum saving rate from the perspective of the receivers of interest. The first part lists major contributions detected in the literature on the optimum saving rate and differential games of capitalism. The second part explores the socially optimal saving rate connected to the maximum sustainable consumption per person. A new graphical method is used to show the distribution of consumption goods between wage earners and receivers of interest. The optimum saving rate of the receivers of interest is derived in the third section. The mathematical formula indicates that this rate is lower than the golden rule, and it coincides...

Dynamika inflácie v krajinách monetárnej únie: jej vplyv na spoločnú hospodársku politiku

Inflation Dynamics in Countries of the Monetary Union: What is its Impact on the Common Economic Policy?

Patrik Kupkovič

Politická ekonomie 2017, 65(1):62-81 | DOI: 10.18267/j.polek.1127  

This paper studies the impact of inflation dynamics on a common economic policy in the monetary union using a small New Keynesian model of the monetary union. We are considering two open economy versions of the Phillips curve: a typical New Keynesian Phillips curve with only forward looking dynamics and a hybrid New Keynesian Phillips curve with forward and backward looking dynamics. The main findings are as follows: (i) the backward looking dynamics (persistence) of inflation in the Phillips curve is an important determinant of the common economic policy in the monetary union; (ii) in the case of asymmetric dynamics of inflation in the monetary union...

Využití metody vícestavové demografie při analýze trhu práce

Utilization of Multistate Demography Method at the Labour Market Analysis

Martina Miskolczi, Jitka Langhamrová

Politická ekonomie 2017, 65(1):82-95 | DOI: 10.18267/j.polek.1128  

This article deals with multistate demography approach applied on the labour market. The multistate demography - methodology and history - are briefly described. The application of this method is presented using transitions between economically active and inactive states on the labour market and among economically inactive, employed and unemployed states. Estimation based on the Labour Force Sample Survey (LFSS) for the Czech Republic shows that during the life course (15-64 years of age) the expected length of stay for each state changes depending on the original state and age. Main differences were found for younger (25-40 years) and older (55+ years)...

Mikroekonomická analýza malé důchodové reformy v České republice (tzv. I. pilíř)

A Microeconomic Analysis of Small Pension Reform in the Czech Republic (the So-Called First Pillar)

Jiří Vopátek

Politická ekonomie 2017, 65(1):96-118 | DOI: 10.18267/j.polek.1129  

The paper deals with the so-called small pension reform in the Czech Republic in response to the findings of the Constitutional Court Pl. US 8/07. Through microeconomic modelling of the situation with the help of valid retro data, the development of solidarity and equivalence in the ongoing pension system is analysed in detail, both before and after the so-called small pension reform of basic pension benefits carried out from 2005-2016 in the Czech Republic. The analytical calculations are focused on properly calculating retirement in accordance with Act No. 155/1995 Coll. on pension insurance, as amended, from the perspective of different situations...

Environmentální Kuznetsova křivka v podmínkách České republiky v období let 1975-2012

Environmental Kuznets Curve: Application for the Czech Republic for the Time Period 1975-2012

Jaroslav Kreuz, Aleš Lisa, Petr Šauer

Politická ekonomie 2017, 65(1):119-130 | DOI: 10.18267/j.polek.1130  

Environmental Kuznets Curve (EKC) has been widely recognized as a standard model of hypothetical relationship between economic development and environment quality. The article presents results of an empirical research on EKC for the air pollution selected indicators in the Czech Republic in 1975-2012.To deal with the issue of different macroeconomic indicators calculated in socialist economy and after its transition to a market economy, EKC modeling was done with consolidated data on national economic performance. The results suggest, contrary to a widespread opinion, that changes in trends (turning points) for some pollutants on EKC can be found already...

Kvalitní příspěvek k současné diskusi o systému financování vysokého školství

Jakub Fischer

Politická ekonomie 2017, 65(1):131-133 | DOI: 10.18267/j.polek.1131  

První komplexní národohospodářské hodnocení procesu privatizace v České republice

Pavla Chmelová

Politická ekonomie 2017, 65(1):134-138