Politická ekonomie, 2018 (vol. 66), issue 5

Articles

Citlivost českých domácností na úrokový a příjmový šok. Aplikace na mikroúdajích

Sensitivity of Czech Households to Interest Rate and Income Shock. Applications on Microdata

Simona Malovaná, Michal Hlaváček, Kamil Galuščák

Politická ekonomie 2018, 66(5):531-549 | DOI: 10.18267/j.polek.1204

We present a set of practical applications of the household sector stress testing approach used at the Czech National Bank. The aim is to test households' ability to repay their loans in the event of extremely adverse economic developments. Besides this, the household sector stress test methodology has so far been used for two other purposes: (i) to construct a simple reverse stress test and explore the sensitivity of Czech households to a rise in loan interest rates and a decline in income, and (ii) to provide some supportive evidence for the calibration of debt service-to-income limits.

Vnímání příjmových nerovností a preference ohledně rozdělení příjmů v České republice

Perceptions of Income Inequality and Preferences Regarding Income Distribution in the Czech Republic

Ivan Petrúšek

Politická ekonomie 2018, 66(5):550-568 | DOI: 10.18267/j.polek.1209

A representative survey of adult population is used to analyse perceptions of existing income inequality and preferences for ideal income distribution in the Czech Republic. On average, Czechs view the distribution of disposable income as more unequal than it actually is. This biased perception results from underestimating total income shares belonging to bottom quintiles and overestimating the total income share belonging to the top income quintile. Whereas the majority of Czechs prefer some level of income stratification, there are about four tenths of people who would prefer to live in a completely equal society. These are primarily older, less...

Odhady daňových úniků v České republice založené na analýze nezjištěné ekonomiky

Estimates of Tax Evasions in the Czech Republic Based on Analysis of Non-observed Economy

Jana Stavjaňová

Politická ekonomie 2018, 66(5):569-587 | DOI: 10.18267/j.polek.1214

The aim of the paper is to estimate the total tax evasion in the Czech Republic in 2008-2015. For this purpose, an analysis of non-observed economy as an alternative method of tax evasion estimation is used. The presented method works as follows: the detailed segmentation of non-observed economy enables to match various types of hidden or concealed income with corresponding liable taxes and therefore to estimate the amount of tax due. The results show that tax evasion is increasing in the Czech Republic (with the exception of 2012) reaching 71 bn CZK in 2008 and more than 120 bn CZK in 2015. This approach also allows us to divide the total tax evasion...

Daňová konkurencieschopnosť členských krajín Európskej únie v kontexte korporátneho zdanenia

Tax Competitiveness of EU Member States in the Context of Corporate Taxation

Lucia Mihóková, Alena Andrejovská, Slavomíra Martinková

Politická ekonomie 2018, 66(5):588-608 | DOI: 10.18267/j.polek.1206

Despite the tax coordination and harmonisation, as the tax burden convergence processes, the corporate taxation systems differ among EU Member States, which can affect the development of economies to various degrees. The main objective of the paper is to assess whether the EU-27 countries are competitive in the field of corporate taxation and to verify whether "new Member States" are considered more competitive than the "old Member States". Empirical research from 2004 to 2014 used traditional quantitative indicators and specific quantitative methods in the form of tax rate relations, cluster analysis and constant market shares method, the application...

Cezhraničné fúzie a akvizície v kontexte vnímania faktorov ich realizácie v pred- a postfúzijnom a akvizičnom procese

Cross-border Mergers and Acquisitions in the Context of Perception of the Factors of Their Implementation in the Pre- and-Post-Merger-and-Acquisition Process

Jaroslava Hečková, Miroslav Frankovský, Zuzana Birknerová, Alexandra Chapčáková

Politická ekonomie 2018, 66(5):609-632 | DOI: 10.18267/j.polek.1213

The paper aims at the issue of perception of the factors of implementation of the pre- and post-merger-and-acquisition process. The original methodologies aDM&A (ante-Determinants of Mergers and Acquisitions) and pDM&A (post-Determinants of Mergers and Acquisitions) were verified on the basis of an analysis of the views of managers from 120 companies. The factor analysis of the data obtained enabled extraction of the key factors of implementation of the pre- and post-merger-and-acquisition process. The paper also presents the basic parameters of the methodology aDM&A Eigenvalues and pDM&A Eigenvalues, the percentage of the...

Consultations

Krytí peněz v současnosti mýty, varianty a realita

Backing of Money at Present - Myths, Variants and Reality

Zbyněk Revenda

Politická ekonomie 2018, 66(5):633-651 | DOI: 10.18267/j.polek.1219

There are many myths associated with gold, especially its historical role. Notably the supporters of free banking criticise the current monetary system and consider present money unbacked. This does not correspond to the fact that the money is backed by the assets of the issuers. There are demands to return to full gold backing. The analysis of the share of gold in the monetary base and in the monetary aggregates M1 and M2 for the United States of America and the Czech Republic over the period 1993-2016 shows a complete shortage of gold. The results are in units or tenths of percent. The author discusses some other unsolved issues, primarily...

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