Politická ekonomie, 2016 (vol. 64), issue 4

Articles

Priepustnosť menových kurzov nových členských krajín Európskej unie

Exchange Rate Pass-Through to Domestic Prices in New EU Member Countries

Rajmund Mirdala, Júlia Ďurčová

Politická ekonomie 2016, 64(4):377-404 | DOI: 10.18267/j.polek.1077

European Union member countries are currently exposed to the large complex of the economic crisis implications. Poor macroeconomic performance together with an increased uncertainty on the financial markets causes is accompanied with increased exchange rate volatility. As the result exchange rates determine macroeconomic development of the countries during the crisis period the way that seems to differ in comparison with the pre-crisis period. Considering the wide variety of effects that exchange rates transmit to the domestic economy from abroad in the paper we focus on the external price impulses and their impact on the domestic price indexes in...

Verbální intervence ČNB: reaguje devizový kurz na slova bankovní rady?

Czech National Bank Verbal Interventions: Does the Exchange Rate React to Words from CNB Bank Board?

Stanislav Hába

Politická ekonomie 2016, 64(4):405-419 | DOI: 10.18267/j.polek.1078

This paper focuses on impact of central bank's oral commentaries on asset prices, i.e. verbal interventions. The paper maps basic preconditions and key channel how central bank's words mirror into asset prices. A significant part of the paper concentrates on the Czech Republic where the exchange rate floor and accompanying frequent comments from the CNB's Bank Board are in operation since 2013. The first hypothesis tests whether there is asset price-making information during the Bank Board decision days. In this sense, the factor analysis confirms at least two factors which influence various asset prices. It is assumed that former factor concerns the...

Aplikace modelů diskrétní volby k analýze příčin měnových krizí

Application of Discrete Choice Models on Analysis of Causes of Currency Crises

Jiří Pour

Politická ekonomie 2016, 64(4):420-438 | DOI: 10.18267/j.polek.1079

This paper analyzes an influence of some economic variables to a probability of the occurrence of currency crises. The variables were at first derived theoretically and then analyzed using logit regression on panel data for up to 78 countries of the word in 1980-2012. The analysis shows that the indicators mostly considered as measures of external economic balance - current account and net foreign assets - have not much statistical significant impact on the risk of currency crisis. Much more important is a structure of foreign liabilities in terms of liquidity - a greater share of foreign direct investments on foreign liabilities and a lower share...

Velikost veřejného sektoru a ekonomický růst

The Scope of Government and Economic Growth

Petr Zimčík

Politická ekonomie 2016, 64(4):439-450 | DOI: 10.18267/j.polek.1080

The aim of this paper is to find a long-term relationship between the economic growth and the size of government. Four different characteristics are used to measure the government size. Total public expenditures, total tax revenues, fi nal government consumption and share of compensation of public workers to overall spending. There are also added control variables and time dummy variable to prevent biased results. The analysis was performed on data from 30 OECD countries from years 1995-2014. Fixed-eff ects panel regression was used to determine relationship between these individual indicators of government size and the economic growth. Main findings...

Ekonomické teorie účetnictví: přehled moderních přístupů a jejich reflexe při tvorbě účetních standardů

Economic Theories of Accounting: The Review of Modern Approaches and their Relevance for Standard-Setting

David Procházka, Jiří Pelák

Politická ekonomie 2016, 64(4):451-467 | DOI: 10.18267/j.polek.1081

The paper deals with fundamental functions of accounting and their characteristics, which are identified with reference to the information economics. Accounting research distinguishes three accounting functions: decision-usefulness; contracting; and signalling. Useful information produced by accounting contributes to mitigating the information asymmetry within economy. The theoretical classification of accounting functions is also relevant for the standard-setting, as different decision tasks require different sets of accounting information. Standard-setters face then a challenge, which function shall have priority over others. Setters utilise the...

Vztah genderové mezery, konkurenceschopnosti a udržitelnosti ekonomiky - postavení České republiky v mezinárodním srovnání

Relationship of Gender Gap, Competitiveness and Sustainability of Economy - Position of the Czech Republic in International Comparison

Zuzana Křečková Kroupová, Hana Řezanková

Politická ekonomie 2016, 64(4):468-491 | DOI: 10.18267/j.polek.1083

The article examines the relationships between selected gender and economic indicators of chosen countries (OECD countries, EU countries, associate members of OECD and high-income countries) and evaluates situation of the Czech Republic in international comparison. Gender indicator values for the Czech Republic were compared both within the time period (years 2006-2014) and with summary statistics for the EU countries. Further, based on four subindexes of the global gender gap index (GGI), similarity of the Czech Republic and other countries in time comparison were expressed. Multidimensional scaling and cluster analysis were applied for graphical...

Search