Politická ekonomie, 2003 (vol. 51), issue 6
Articles
Komparatívne výhody zahraničného obchodu - indikátor konkurenčnej schopnosti Slovenskej republiky?
Comparative advantages of foreign trade - an indicator of SR competitiveness?
Renáta Vokorokosová
Politická ekonomie 2003, 51(6) | DOI: 10.18267/j.polek.442
This article highlights the diagnosis of selected determinants decisive for evaluation of comparative advantages in a commodity group under corresponding theoretical research of doctrines on comparative advantage, international trade, and competitiveness with view to their contribution to the present pace. However, we put our attention just for selected postulates from their vast hierarchy reflecting the topic most complex. The contents of this article is divided into two parts, the first being more theoretical, followed by a detailed analyses of trade and payment figures of Slovakia since 1995 - 2002. Based on their evaluation we present the RCA index...
Vypovídací schopnost makroagregátů při hodnocení výsledků hospodářské politiky
Possibilities of macroeconomic policy evaluation on the basis of macroaggregates
Michal Kvasnička
Politická ekonomie 2003, 51(6) | DOI: 10.18267/j.polek.443
Macroeconomic policy is often evaluated solely on the basis of empirical evidence, such as observing the behavior of macroaggregates. This paper argues that this approach bears a shortcoming: "improvement" of macroaggregates can be socially undesirable under certain circumstances. Thus the sole exploration of macroaggregates is not sufficient to evaluate the macroeconomic policy -axiomatic economic theory must be used as well to determine whether the outcomes of macroeconomic policy are beneficial to society or not. The paper first offers a precise definition of a social welfare function (based as much as possible on microfoundations). Then it considers...
Makroekonomické veličiny a ceny akcií
Macroeconomic variables and stock prices
Jan Kodera, Václava Pánková
Politická ekonomie 2003, 51(6):825-837 | DOI: 10.18267/j.polek.440 
A theoretical model describing a dependence of stock index on relevant macroeconomic variables is derived. Starting by two possible approaches, portfolio theory and heterogeneous agent hypothesis, the same model formulation resulted. An application was performed, using empirical data of the Prague Stock Exchange and of the Czech Republic economy. Working with the whole sample of observations, a significant relation of stock index and explanatory variables as for industrial production, exchange rate, interest rate, was hardly to be found. Studying an indication of three structural change points, this hypothesis was confirmed by a test and relating re-estimation...
Predikce využívající experimentální trhy
Predictions using experimental markets
Michal Hlaváček, Adam Geršl, Tomáš Cahlík, Michael Berlemann
Politická ekonomie 2003, 51(6):838-850 | DOI: 10.18267/j.polek.441
According to the effective market theory, the stock prize on an effective market is the best estimate of the stock's current value. This is the basic assumption for predictions using experimental markets. This article describes the first experimental market organised in the Czech Republic, the experimental political market for Czech parliamentary elections in June 2002. In the beginning we briefly describe the methodology of the predictions via electronic markets. Than we give some description of our market- number of traders, their individual results, development of the market activity in time, etc. Finally we compare the result of our election market...
Consultations
Ordoliberalismus a sociální tržní hospodářství
Ordoliberalism and social market economy
Tomáš Krabec
Politická ekonomie 2003, 51(6):881-899 | DOI: 10.18267/j.polek.444
Freiburg school of ordoliberalism contributions to the modern economic thinking and some of its implications for post-war economic and social policy in West Germany are discussed in this paper. After explaining some elementary terms there is a short excursion in the economic history and external conditions. Part four discusses the importance of competition for both a dynamic and stabile economic growth performance and long-lasting balance in society, followed by a description of the basic premises of the competitive order - the constitutive principles and the regulatory principles preserving the competition and balance in long-run period. The role...
Nedokonalá konkurence, náklady cenových změn a neúplná racionalita jako zdroje nominální cenové rigidity v nové keynesovské makroekonomii
Imperfect competition, menu costs and near rationality as a source of the nominal price rigidity in the new keynesian macroeconomics
Karel Brůna
Politická ekonomie 2003, 51(6):901-914 | DOI: 10.18267/j.polek.445
This study stress attention to the effects of imperfect competitive markets, menu costs and firm near rationality upon nominal price rigidity and non-neutrality of money in works of new keynesian economists. New keynesians consider the price rigidity as a direct expression of the firm price decisions in the context of the nominal aggregate demand shock initiated by change in the central bank money supply. But such case of nominal price stability is the result of firm price decision only when it meets combination of "right" parametres of firm demand and supply function, it means "right" slope of marginal revenue and marginal costs function and their...
Uncategorized
Historie časopisu politická ekonomie (část vi: 1979 - 1989)
History of the politická ekonomie journal - period vi: 1979 - 1989
Jiří Řezník
Politická ekonomie 2003, 51(6):771-824 | DOI: 10.18267/j.polek.439
Executive Board intends to commemorate the fiftieth anniversary of the foundation of a Czech professional economic journal by publishing in Volume 2003 articles that will deal with the history, development, peripeteias , twists and turns of Politická ekonomie. Issue No. 6 is focused on the period 1979 - 1989.