Politická ekonomie, 2016 (vol. 64), issue 2

Articles

Shluková analýza skoků na kapitálových trzích

Cluster Analysis of Jumps on Capital Markets

Jan Hanousek, Evžen Kočenda, Jan Novotný

Politická ekonomie 2016, 64(2):127-144 | DOI: 10.18267/j.polek.1059

Cluster Analysis of Jumps on Capital Markets We analyze the behavior and performance of multiple price jump indicators across capital markets and over time. By using high-frequency we perform cluster analysis of price jump indicators that share similar properties in terms of their performance in that they minimize Type I and Type II errors. We show that clusters of price jump indicators do not exhibit equal size. Clusters are stable across stock market indices and time. Detected numbers of price jumps are also stable over time. The recent financial crisis does not seem to affect the overall jumpiness of mature or emerging stock markets. Our results...

Vliv nepřímých daní na dlouhodobý ekonomický růst

The Impact of Indirect Taxes on Economic Growth

Věra Vráblíková

Politická ekonomie 2016, 64(2):145-160 | DOI: 10.18267/j.polek.1060

The Impact of Indirect Taxes on Economic Growth The main purpose of this article is to investigate the impact of indirect taxes on economic growth in a long term. The dynamic and static panel regression analysis methods were used to explore the relationship between observed variables. The models are based on neoclassical growth model extended by human capital. The models are verified using data on chosen European countries from time period 1970 to 2011 and from time period 2000 to 2011. Taxes are included into models by indicators of tax burden. It was used TQ, ITR and WTI. The results of empirical analysis revealed that impact of taxes on economic...

Podnikový sektor - vybrané aspekty empirické analýzy zemí Evropské unie

Corporate Sector-Selected Aspects of Empirical Analysis of the EU Member States

Vratislav Izák

Politická ekonomie 2016, 64(2):161-175 | DOI: 10.18267/j.polek.1061

Corporate Sector-Selected Aspects of Empirical Analysis of the EU Member States The paper attempts to shed light on selected problems of mainly non-fi nancial corporations of EU Member States in the period 1995-2013 (2014) using financial balance sheets (SNA, 2008). The relations between domestic sectors and non-residents have revealed that the Member States have been mainly debtors during the examined period. Having measured leverage (ratio of debt to GDP created in the sector of non-financial corporations) we have found out the increase of the ratio in the crisis period (2008-2013) in the sample of 17 member states. As concerns the ratio of debt...

Vplyv spôsobu tvorby fiškálneho deficitu na ekonomický rast

The Influence of Fiscal Deficit Creation on Economic Growth

Martin Murín

Politická ekonomie 2016, 64(2):176-192 | DOI: 10.18267/j.polek.1062

The Influence of Fiscal Deficit Creation on Economic Growth The discussion of influence of fiscal consolidation on economic growth is quite interesting and important topic. Consequently, the main aim of the article is to determine differences within the influence of fiscal deficit on the economic growth, which is caused by changes in certain groups of government expenditures and revenues. We focus on two different economic growth indicators. The first is growth rate of real GDP and the second is growth rate of potential output. The panel regression method is used which data covers 13 old EU member states in 1996 to 2013. We employ the omitted fiscal...

Vliv migrace na specializaci občanů Evropské unie

The Impact of Immigration on Occupational Specialization of European Union Citizens

Tatiana Polonyankina

Politická ekonomie 2016, 64(2):193-208 | DOI: 10.18267/j.polek.1063

The Impact of Immigration on Occupational Specialization of European Union Citizens The article tests whether the impact of immigration on native workers differs depending on the business cycle. Previous studies proved that labor mobility and the effect of immigration differs with respect to the business cycle. For the expansionary years was found a sizable relocation of native workers to occupations with more interactive rather than manual content as a response to immigration. This is no longer the case for economy in recession period. However, there is null impact on native employment that does not change with the business cycle. The European labor...

Consultations

Revize monetárního modelu Marca Lavoieho endogenizací parametru gama

Zdeněk Chytil, Lukáš Máslo

Politická ekonomie 2016, 64(2):209-217 | DOI: 10.18267/j.polek.1065

Revision of Marc Lavoie's Monetary Model by the Endogenization of the Parameter γ This paper tries to point out a fallacy in Lavoie's (2006) conclusion that incorporation of deep endogeneity of parameters into the PKA model suffices to bring about irreversibility of such a system. The arguments of the authors are supported by Setterfield's (1998a, 2008) concept of hysteresis as path-dependence in the long-run outcome of systems with direct shocks. The paper shows that extension of Lavoie's PKA model by deep endogeneity of the parameter γ causes the fulfillment of the necessary condition of hysteresis - Setterfi eld's condition (a) ensuring...

Discussion

Politicko-ekonomická reflexe současného stavu globální společnosti

Miroslav Jurásek, Václav Leinweber, Radim Valenčík

Politická ekonomie 2016, 64(2):218-236 | DOI: 10.18267/j.polek.1066

Reflection on Political Economy of Global Society Today Recently we could observe an accumulation of problems in the global society. Beeing more serious and complicated these problems have become a kind of the historical excess when all possibilities of the countinous development have been exhausted and consequently a crucial societal transformation must be done. This article deals with the reflection on the roots of the present political and economical problems and how to solve them. It demonstrates some theoretical conclusions of the articles published in the Political Economy in the previous ten years. Successively, the attention is paid to the...

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