Politická ekonomie, 2018 (vol. 66), issue 6

Articles

Názvy společností a jejich vliv na výkonnost firem

Corporate Names and Performance

Jan Hanousek, Štěpán Jurajda

Politická ekonomie 2018, 66(6):671-688 | DOI: 10.18267/j.polek.1218

We provide systematic evidence of the effect of alphabetical sorting on corporate performance based on over a decade of data covering seventeen EU countries in three European language families. We also measure the effects of using English words in a corporate name in a non-English-speaking country, of a corporate name containing a 'national' (patriotic) word, and of simple linguistic properties highlighted in the brand-name marketing literature. Using multiple measures of corporate performance, we find companies sorted low in the alphabet to be less successful in several European countries, particularly in services. 'National' words are associated...

Využitie skóringových modelov pri predikcii defaultu ekonomických subjektov v Slovenskej republike

Applicability of Scoring Models in Firms' Default Prediction. The Case of Slovakia

Matúš Mihalovič

Politická ekonomie 2018, 66(6):689-708 | DOI: 10.18267/j.polek.1226

Bankruptcy prediction has long been regarded as a critical topic within the academic and banking community. To the best of our knowledge, no previous study in the Slovak Republic has attempted to develop a bankruptcy prediction model putting together statistical and artificial intelligence approaches performed on a such an amount of data. This paper seeks to fill this gap. Our aim is to develop a hybrid bankruptcy prediction model using a genetic algorithm in the process of training a neural network (GA-NN). The research data set comprises a balanced sample of both healthy and bankrupt firms operating in Slovakia in the period from 2014 to 2017. Financial...

Nezaměstnanost a věková segmentace trhu práce

Unemployment and Age-based Labor Market Segmentation

Vladislav Flek, Martin Hála, Martina Mysíková

Politická ekonomie 2018, 66(6):709-731 | DOI: 10.18267/j.polek.1227

We analyze age-specific labor market dynamics in the Czech Republic, Poland and Slovakia over the period 2009-2012. We document a marginalized status of young workers aged 16-24, whose risk of job loss followed by unemployment is two to three times higher than that of prime-age workers (35-49). Further more, unemployed workers aged 50-61 face relatively the lowest probability of finding a job, at rates 30-50% lower than prime-age unemployed workers. These results are qualitatively in line with those established for the reference economy of the UK. Finally, we find that fluctuations in age-specific unemployment rates in all three countries are mainly...

Matematický model Giniho koeficientu a zhodnocení redistribuční funkce daňového systému České republiky

A Mathematical Model of the Gini Coefficient and Evaluation of the Redistribution Function of the Tax System in the Czech Republic

Marian Genčev, Denisa Musilová, Jan Široký

Politická ekonomie 2018, 66(6):732-750 | DOI: 10.18267/j.polek.1232

The paper deals with two related topics - a mathematical model of the Gini coefficient, and its application in the taxation theory. However, the mathematical part of the paper should not only be understood as a traditional methodological starting point, but it has also didactic character and correctly describes the properties of the Gini coefficient, pointing to misinterpretation deficiencies found in a number of contemporary works. In the application part of the paper, we study the fulfillment of redistribution function of the tax system in the Czech Republic by using the Musgrave-Thin index coefficient M. Our research implies that the global...

Stimuluje spotřebu v situaci nulové nominální úrokové míry zvýšení inflačních očekávání?

Does an Increase in Inflation Expectations Stimulate Consumption at the Zero Lower Bound?

Pavel Potužák

Politická ekonomie 2018, 66(6):751-775 | DOI: 10.18267/j.polek.1221

In an effort to stimulate aggregate demand at the zero lower bound, economists and central bankers have focused on inflation expectations. The key argument is that an increase in inflation expectations may reduce the real interest rate and thus encourage consumption spending. This article examines not only the traditional channels of the fall in the interest rate connected to the relative importance of the substitution and income effects, but it also investigates the impact on the perceived real future labour income. It is shown that if people do not adjust their expectations about future nominal labour income when inflation their expectations rise,...

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