Politická ekonomie, 2018 (vol. 66), issue 1

Articles

Brexit a krize eura: jakou chceme Evropskou unii?

Brexit and the Euro Crisis: What Kind of Union Do We Want?

Hans-Werner Sinn

Politická ekonomie 2018, 66(1):3-19 | DOI: 10.18267/j.polek.1174

The article deals with the two key issues that have been fundamentally changing the European Union - the crisis of Eurozone and the Brexit. The first part discusses the change of the original balance of power in the EU after the exit of Britain and its possible consequences, especially the strengthening of the relative position of France, and hence the French concept of the EU integration model (deeper federalization of the nucleus and the rest) resulting in an even more explicit model of the two-speed EU. In the ideal Pareto model of the Union, paradoxically, the possibility of exit makes the Union more stable and compact. The second part of the text...

Soukromé transakční náklady zadávání veřejných zakázek a faktory ovlivňující jejich výši

Private Transaction Costs of Procurement and Factors Affecting Their Value

Jan Pavel

Politická ekonomie 2018, 66(1):20-34 | DOI: 10.18267/j.polek.1175

Public procurement is subject to very strict and detailed legal regulation, which generates significant transaction costs on the part of both the public and private sectors. This paper aims are to quantify the size of private transaction costs associated with participation in tenders and to identify the main factors that affect their value. The presented results are based on a survey containing 804 observations. The total value of the private transaction costs in 2012 is estimated at CZK 9 billion, which represents 1.8% of contracts value. Using regression model, we have identified factors that influence the size of transaction costs at the level of...

Vývoj národního důchodu České republiky od 80. let 20. století

Czech National Income since 1980s

Kristýna Vltavská, Jaroslav Sixta, Martina Šimková

Politická ekonomie 2018, 66(1):35-56 | DOI: 10.18267/j.polek.1176

Researchers and analysts usually prefer to have long time series of gross domestic product as the most important indicator of the economy. However, gross national income presents indicator that covers not only what a country produce but it takes into account values produced by factors of productions owned by foreigners. From that point of view gross national income presents more interesting information than gross domestic product. This paper describes the recalculation of historical time series of gross domestic product in the Czech Republic into the standard of national accounts ESA 2010. It presents results for all three approaches to GDP, employment...

Vliv velikosti podniku na transakční násobitele

The Impact of the Company's Size on the Transaction Multiple

Jana Skálová, Tomáš Podškubka, Petr Diviš

Politická ekonomie 2018, 66(1):57-77 | DOI: 10.18267/j.polek.1181

This article focuses on the issue of company's size with connection to its valuation multiples. The phenomenon of company's size effect is described in theory and empirically tested. The knowledge of dependence on transaction multiples on company's size is essential for valuation and decision about acquisition or disinvestment. The article follows on the Jeřábek's and Čihák's article (2008). The aim of the article is to empirically verify the statement that the buyers are willing to pay relatively lower amount of money for smaller companies than in case of investment in larger companies. The aim is not to determine the specific amount of the size risk...

Výnosový potenciál společného konsolidovaného korporátního základu daně v Evropské unii

Revenue Potential of the CCCTB in the European Union

Veronika Solilová, Danuše Nerudová

Politická ekonomie 2018, 66(1):78-98 | DOI: 10.18267/j.polek.1177

The non-existence of a link between reaching smart, sustainable and inclusive growth and the EU budget is resulting in the existence of sustainability gaps in the European Union. This research reveals that the introduction of the Common (Consolidated) Corporate Tax Base (hereinafter as C(C)CTB) could be an important contribution to close the existing sustainability gaps. To research the revenue potential of the C(C)CTB, a model based on a remittance system was designed. The system expects the replacement of the VAT-based own resource (resp. GNI-based own resource) through the transfer of a part of the corporate tax revenues from the C(C)CTB raised...

Consultations

Analýza teorie vlastnických práv

Theory of Ownership Rights Analysis

Karel Zeman

Politická ekonomie 2018, 66(1):99-115 | DOI: 10.18267/j.polek.1178

Liberal ownership rights are the essential basis of proper functioning of market economy, therefore the theory of ownership rights can also be considered the basis of theories governing all the areas of market economy functioning. The currentness of the presented issues in the Czech Republic has been rapidly increasing lately, with regard to the expanding erosion of ownership rights set democratically after 1989. The aim of this paper is to present the results of long-term research in renowned economic magazines, to draw attention to the extraordinarily current nature of the discussed issues determined by increasing instability of ownership rights...

Discussion

Hrozba sekulární stagnace

The Threat of Secular Stagnation

Kamil Janáček, Stanislava Janáčková

Politická ekonomie 2018, 66(1):116-135 | DOI: 10.18267/j.polek.1166

Advanced countries are losing their predominant position in the world economy. With the long-time productivity slowdown and the present long recession, a question arises about the threat of secular stagnation of the advanced world. In searching for the roots of this threat, leading world economistst accentuate either the demand side, or the supply side of the economy. In this respect, the authors add globalization as another important factor. Globalization has resulted in long-term global and internal imbalances, and caused deep problems in the advanced countries - deindustrialization, unemployment, growing dependence on the social safety net, and...

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