Politická ekonomie, 2015 (vol. 63), issue 3

Makroekonometrický model eurozóny

Macroeconometric Model of the Eurozone

Ondřej Čížek

Politická ekonomie 2015, 63(3):279-299 | DOI: 10.18267/j.polek.1003  

The aim of this paper is the formulation and econometric estimation of a small macroeconomic model, which is intended to provide an understanding of fundamental economic relationships in the eurozone. Unemployment is used to represent real economic activity. Phillips curve links unemployment with infl ation and Taylor rule describes the monetary policy of the European Central Bank. The results from econometric estimation indicate that interest rate policy of the European Central Bank has only a very limited effect on unemployment. Furthermore, the reaction coeffi cient for infl ation in the Taylor rule does not support Taylor principle. This paper...

Vliv fiskální politiky na ekonomický růst v zemích OECD

The Impact of Fiscal Policy on Economic Growth in the OECD Countries

Agata Drobiszová, Zuzana Machová

Politická ekonomie 2015, 63(3):300-316 | DOI: 10.18267/j.polek.1004  

The aim of the paper is to fi nd out what is the effect of different types of government spending and taxes on economic growth in developed economies. The analysis is performed on a sample of 27 OECD countries in the period 1997-2011. It is based on the neoclassic growth model extended with the level of human capital and fi scal variables. Those include particular types of government spending (according to the COFOG classifi cation) and taxes (according to the OECD classifi cation), and state budget defi cit. From a methodological point of view, panel data estimation is used. We support the view that only some types of government spending are growth-enhancing,...

Vyvolané náklady daňového systému v ČR

Compliance Costs of the Czech Tax System

Jan Pavel, Leoš Vítek

Politická ekonomie 2015, 63(3):317-330 | DOI: 10.18267/j.polek.1005  

The paper presents methods and results of tax compliance costs (TCC) in the Czech Republic and uses the econometric analysis to show which factors affect their size at the level of individual taxpayers. The results of the author's measurement of the TCC for the Czech Republic are following (% of tax revenue): VAT 4,5; CIT 5,5; PIT on employees 3,0; PIT on self-employed 34,4; SSC 1,5-3,5. The econometric analysis of the factors affecting the level of TCC shows the regressive character of these costs. However the decreasing of a relative value of TCC gradually slows down for large taxpayers. The analyses also show statistical signifi cance of the relationship...

Vliv trhu mezistatků na úspěšnost prognóz ekonomické aktivity

Influence of the Intermediate Goods Market on the Success of Economic Activity Forecasts

Václav Rybáček

Politická ekonomie 2015, 63(3):331-346 | DOI: 10.18267/j.polek.1006  

Predictions of economic activity are sine qua non of economic policy. Nevertheless, predictions are characterised by the high level of inaccuracy; the main aim of the paper is to provide a potential theoretical explanation of frequent failures by focusing on the refl ection of real market proces in forecasting apparatus. It is argued that the role of intermediate products is underestimated in the considerations of future development of economic activity, even if these has presumably higher relevance to the level of economic activity in the future. Mutual relation between expenditures on consumption and production expense is discussed and verifi ed...

Hodnocení vlivu zastoupení rodiny ve vlastnické a řídící struktuře firem na jejich finanční výkonnost pomocí metody zkoumání shody párů

Evaluating the Impact of Family Presence in Ownership and Management on Financial Performance of Firms Using Matched-Pair Investigation

Ondřej Machek, Jiří Hnilica

Politická ekonomie 2015, 63(3):347-362 | DOI: 10.18267/j.polek.1007  

The role of family businesses in management theory has been getting a topic of interest of academics and practitioners. This paper deals with the analysis of performance and financial structure gaps between Czech family and nonfamily firms. Using surname matching definition, we created a sample of 890 Czech large and medium-sized family businesses. Then we used the matched-pair investigation to determine the major gaps in profitability, labor productivity, liquidity and leverage between family and nonfamily firms. The results suggest that Czech family businesses are more profitable in terms of return on assets, profit margin and absolute values of...

Faktory ovlivňující zapojení žen v mikrofinancích

The Factors Influencing the Participation of Women in Microfinance

Karel Janda, Van Quang Tran, Pavel Zetek

Politická ekonomie 2015, 63(3):363-381 | DOI: 10.18267/j.polek.1008  

This paper investigates the possible reasons why many microfi nance institutions (MFIs) have gradually experienced a decrease in the share of female borrowers in their portfolios over the last few years. We confi rm that the share of women may be decreasing due to the growing proportion of low-income inhabitants in the area and unpaid family workers. Our results further show that the share of women is also strongly dependent on employment policy that has a positive impact on the dependent variable. Unexpectedly, none of macroeconomic variables such as economic growth, wage and household consumption has an impact on the number of female borrowers.

Teorie preferencí a kariéra žen na českém trhu práce

Preference Theory and Women's Career Choice on the Czech Labour Market

Dagmar Brožová, Dominik Stroukal

Politická ekonomie 2015, 63(3):382-399 | DOI: 10.18267/j.polek.1009  

This paper tests the selected determinants shaping the careers of women. It uses data from an exclusive survey conducted in 2011 in the Czech Republic and confronts the results with Hakim's preference theory. The results suggest arguments both for against the preference theory. We formulated four hypotheses and verifi ed them by binary probit models. In accordance with the Hakim's theory we were able to demonstrate that the preference for work (work-centered preference)has a positive and signifi cant impact on the career choices of women on the Czech labor market. According to the results of the model is the work-centered preference associated with...

Samuelsonových nedožitých 100 let

Samuelson's Incomplete Centenary

Václav Klaus

Politická ekonomie 2015, 63(3):400-403 | DOI: 10.18267/j.polek.1010  

Vynikající příspěvek o krizi eurozóny

Excellent Paper on Eurozone Crisis

Marek Loužek

Politická ekonomie 2015, 63(3):404-407 | DOI: 10.18267/j.polek.1011  

Implementace křesťanských zásad do ekonomické teorie

Implementation of Christian Principles into Economic Theory

Jiří Dobrylovský

Politická ekonomie 2015, 63(3):407-410 | DOI: 10.18267/j.polek.1012