Politická ekonomie, 2000 (vol. 48), issue 6

Articles

Příčiny a průběh měnových turbulencí v České republice v roce 1997

Currency turbulence in 1997 in the Czech Republic

Oldřich Dědek

Politická ekonomie 2000, 48(6) | DOI: 10.18267/j.polek.182

The Czech economy experienced a standard shake-up triggered by a gradual build-up of external imbalance that ended up with a speculative attack. As a result of the many institutional bottlenecks, the supply side of the economy was unable to keep pace with the rapid expansion in domestic demand. The mounting external imbalance was also linked with considerable internal imbalances. The contagion came in May 1997 from South-East Asia. Them followed a sharp weakening of the CZK. The CNB opted for a strategy of liquidity squeeze. Escalation of the crisis led to the adaption of managed floating of the CZK finally. The first signals of a calming of the situation...

Chiméra autonomní měnové politiky v malé otevřené ekonomice

The chimera of autonomous monetary policy in a small open economy

Stanislava Janáčková

Politická ekonomie 2000, 48(6) | DOI: 10.18267/j.polek.183

In small open economies, external factors exert a strong influence on the autonomy and efficiency of domestic monetary policies. For the Czech National Bank, no exchange rate regime can guarantee a lasting degree of policy autonomy. Within the present CNB's strategy of direct inflation targeting, changes of exchange rate and of world prices proved especially hard to tackle. In 1998 and 1999, a substantially faster disinflation took place than was presupposed by CNB's own inflation targets. This helped to throw the economy into a recession. A credit crunch subsequently set out of function the most important transmission channel of monetary policy. Inflation...

Harmonizace obchodní politiky České republiky s obchodní politikou zemí Evropské unie

Harmonization of the Czech Republic trade policy with the European union trade policy

Marie Vavrejnová

Politická ekonomie 2000, 48(6) | DOI: 10.18267/j.polek.184

This article analyses changes in the structure of foreign trade and tariff changes during the process of transformation and pre-EU accession period. Special attention is given to a comparison of Czech and German foreign trade structure. Germany has become the main trading partner of the Czech Republic. To demonstrate the process of trade liberalization in the pre-EU accession period, development trends of nominal tariffs were calculated. Also, experimental calculations of the effective rate of protection were made, and the future impact of tariff changes on comparative advantage after joining the EU was examined. This was done using German tariffs,...

Tendence dosavadního vývoje zemí střední a východní Evropy

Tendencies of the central and east European countries development

Petr Chvojka, Karel Zeman

Politická ekonomie 2000, 48(6) | DOI: 10.18267/j.polek.185

The paper reviews the different economic potential of the ten analysed CEE countries at the beginning of the transformation process (1989 - 1990). The main features of each transformation approach are identified (privatization, liberalization, transition between economic systems). A comparative analysis of the basic economic indicators development during the transformation period is the core of the paper.Special attention is focused on the differences in subsequent economic growth, in its basic factors, in the convergence process, restructuring trends, the links with the external economic environment and in the competitive ability of CEE countries....

Test nelineárních závislostí

A test of nonlinear dependencies

Evžen Kočenda

Politická ekonomie 2000, 48(6) | DOI: 10.18267/j.polek.186

This paper proposes a test of iid distribution of data that allows to uncover nonlinear patterns in a time series. The proposed alternative (henceforth the K2K test) extends and generalizes the widely known BDS test. By its construction, it removes subjectivity in arbitrary choice of a proximity parameter. The Monte Carlo simulation is used to tabulate critical values of the alternative statistic. Previously published empirical studies are replicated as well as power tests executed in order to evaluate performance of the K2K test relative to the BDS test. The results are favorable for the K2K test.

Prolegomena neoclassica čili poněkud paradoxní pokus o popularizaci převládajícího metodologického přístupu

Prolegomena neoclassica, or a rather paradoxical attempt at a popularization of the neoclassical methodological approach

Martin Macháček

Politická ekonomie 2000, 48(6) | DOI: 10.18267/j.polek.187

This paper is focused on the neoclassical approach in economics and its fundamentals as they are coming from the philosophy of science. However, the author does not want to be treated as an advocate of this approach; this paper is an attempt to popularize several relevant features of neoclassical economics. In addition, he presents some evidence on neoclassical economics as an application of a set of logical arguments in favor of an instrumentalist research methodology. One of the sections of the paper explains the differences between the interwar neoclassical approach and the postwar approach of Arrow and Debreu. Another section deals with selected...

Consultations

John Maynard Keynes: válečné reparace a transferový problém

John Maynard Keynes: war reparations and transfer problem

Tomáš Pavelka

Politická ekonomie 2000, 48(6) | DOI: 10.18267/j.polek.188

This article is devoted to the transfer problem. The beginnings of transfer problem are connected with the war reparation after First world war. J.M. Keynes argued, that Germany was imposed not only by primary burden, but also by secondary burden, that means decrease of the Germany export prices. B. Ohlin on the other hand argued, that deterioration of terms of trade was not necessary. Ohlin used transfer of the purchasing power.Versailles treaty and its consequences for Germany and the whole Europe is also shortly mentioned in this article.

From scientific life

Teoretické a praktické aspekty veřejných financí

Ivana Švarcová

Politická ekonomie 2000, 48(6) | DOI: 10.18267/j.polek.189

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