Suchergebnisse

The purpose of this model is to measure the impact of localization of new (mostly industrial) enterprises in strategic industrial zone in regional economy. Model deals with multiplication effect of regional consumption expenditures, which is (among others) strongly affecting development of regional economy. For modeling the regional consumption demand or regional consumption expenditures there was used mainly microeconomic approach based on utility & profit maximization. The model is based on several simplifying assumptions for better use in real applications (mainly because of lack of relevant regional data). This model was used in practice for ex-ante evaluation of impact of strategic industrial zone in Cheb but it could be applied widely (after some modifications) for anticipation of regional impacts of demand shocks, regional migration, investments etc. Graphs, References. Adapted from the source document.

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 inflation 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 coefficient for inflation in the Taylor rule does not support Taylor principle. This paper also presents original method for measuring NAIRU. The proposed method for estimating NAIRU uses probabilities of finding and loosing a job. These probabilities are made endogenous in the model, which is the main contribution of the paper. Adapted from the source document.

The article deals with circumstances in which finance as a branch of study at the University of Economics, Prague (UEP) has been developed. Finance is taught both as a theoretical part of economic science and as a subject preparing students for practical work in the field of finance. Finance is one of the oldest branches existing at the UEP established at the same time as the University, in September 1953. At that time the soviet economic model was applied on the Czechoslovak economy including the field of finance. So the translations of soviet textbooks were used in addition to the Czech ones. In the sixties the problems in development of the Czechoslovak economy intensified and the necessity to strengthen the role of money in the economy was emphasized. This tendency reflected in the contents of teaching process. The period of normalization broke these efforts, but the teaching had never been completely restored to the position it had in the sixties. After 1989 the teaching concentrated on the role of finance in the conditions of market economy. Study program provides knowledge of the issues of financial markets, banking, insurance, national and local budgets and public finance. Adapted from the source document.

This article is focused on the composition & development of the so-called Scandinavian approach to economic policy. The first part describes its three main posts, this is labor market, public sector, & social equality. Two main streams of Swedish labor-market policy are centralized wage bargaining managed by the Rehn-Meidner model under the motto "equal wage for equal work," which was transformed into "equal wage" & the so-called active labor-market policy. The second part deals with macroeconomic policy & progressive market regulation & competition obstacles, & the third part introduces the Swedish tax system with its highly progressive tax rates & its 1985 & 1991 tax reform. 2 Tables, 9 Graphs, 27 References. Adapted from the source document.

Starting from endogenous growth models we test the impacts of both taxes (distortionary and non-distortionary) and expenditures (taking into account economic and functional classification of general government expenditure) using the government constraint. We do not neglect the implicit financing assumptions built into the specification of regression utilising both control and fiscal variables. Static and dynamic panel analysis (fixed effects model) of the 25 EU countries covers the period 1995-2008 for the majority of observations. Forward looking moving averages of the growth rate of GDP (2-5 years) are the dependent variable. We find that productive government expenditure supports growth, whilst non-productive expenditure, especially social protection (COFOG) or social payments (Amoco) does not. Distortionary and indirect taxes reduce economic growth. Adapted from the source document.

The paper explains the theory of bureaucracy developed by William A. Niskanen. While sociologist Max Weber's analysis treats bureaucrats as "eunuchs" or automatic machines responsible for public well-being, Niskanen tries to apply standard neoclassical economic models to explain the behavior of bureaucracy as a whole. With this background, he concludes that the bureaucracy will concentrate on bargaining processes with the sponsor & not on improving the quality of its services to the public. This is a simple explanation of why the bureaucratic organization provides systematically worse products & services to its customers than does the standard private firm operating on the market. 19 References. Adapted from the source document.

The article argues that many failures of economic policies, especially in the developing world, are accountable to the methodological biases of the underlying mainstream economic science. While the new institutional and development economics have substantially improved economic models, they still rely on the neoclassical assumptions of methodological individualism and utilitarism. Therefore, they cannot fully grasp the gender and cultural aspects of the societies living in developing countries, the dynamic character of their economies and their embedment in the natural, social and institutional environment. These scientific biases are analysed from the standpoint of four heterodox economic schools: those of feminist economics, evolutionary economics, ecological economics, and economic anthropology. The subsequent failure of the economic policies is documented by the cross-cutting example of the Structural Adjustment Programmes of the Bretton Woods institutions. The article concludes by emphasizing the common points of the heterodox schools and advocating for a methodological plurality in the Czech economic research and education. Adapted from the source document.

This paper investigates the effects of economic growth on income inequality in EU countries by employing econometric models. We estimated the effect of growth on the share of income for all particular deciles of population and on the Gini. Other control variables were included in the models as well. The results showed a negative effect of economic growth on inequality, while this impact is the largest for the deciles ranging from the third to the seventh. This can be perceived as an indication of a shrinking middle class. Inequality-increasing effects were found for long-term unemployment, openness and partly for indicators of importance of the financial sector. Factors reducing inequality were rule of law and population with tertiary education. The size of government turned out to be a rather insignificant determinant.

Paper deals with the European Monetary Union from perspective of Post Keynesian school of economic thought. It discusses separately arguments often proposed by mainstream economists. After the brief introduction, which highlights main differences between mainstream & Post Keynesian economic theory, work deals in sequence with trade argument often found in discussion about monetary unification, monetary issues mainly with the role of European Central Bank & lastly, work appraises European Monetary Union from international monetary arrangement perspective proposed by Post Keynesian economists. Based on this evaluation, work concludes stating that Post Keynesian economists are more likely not to be overenthusiastic with European monetary unification. References. Adapted from the source document.

The article presents economic voting theory and its application to the study of electoral behaviour in four Central European countries. The theoretical part describes the reward-punishment model of economic voting and its predictions for electoral behaviour in countries with coalition governance and in internationally open economies during the global economic crisis. The analytical part investigates the existence and features of economic voting (as a P-function) in the Czech Republic, Hungary, Poland and Slovakia. Hypotheses about the existence of economic voting in these countries, the higher economic accountability of more responsible coalition partners, and the lower level of economic voting under the perceived influence of the EU on the domestic economy are tested using OLS and binary logistic analysis of European Election Study data (2004 and 2009). As the results show, economic voting was only detected in Hungary (2004 and 2009) and Slovakia (2004). The analysis indicates that, in general, almost all Prime ministers' parties bear a greater degree of economic accountability; meanwhile, perceptions of EU economic responsibility had no influence on the popularity of government parties in 2009. ; The article presents economic voting theory and its application to the study of electoral behaviour in four Central European countries. The theoretical part describes the reward-punishment model of economic voting and its predictions for electoral behaviour in countries with coalition governance and in internationally open economies during the global economic crisis. The analytical part investigates the existence and features of economic voting (as a P-function) in the Czech Republic, Hungary, Poland and Slovakia. Hypotheses about the existence of economic voting in these countries, the higher economic accountability of more responsible coalition partners, and the lower level of economic voting under the perceived influence of the EU on the domestic economy are tested using OLS and binary logistic analysis of European ...