Suchergebnisse

Energy efficiency improvements have become a major hope for decoupling the energy demand from economic growth and for achieving environmental goals. Nevertheless, the effectiveness of policies based on promoting energy efficiency may be undermined by behavioral responses. A more efficiently produced energy service becomes cheaper and economic theory then suggests that consumers should demand more of it, which will cause a loss of the potential technological saving. The phenomenon is called the rebound effect and it has become a focus of energy economists since early 80s. However, even today there is no clear consensus on its importance. Quantification of the rebound effect is mainly hampered by poor data availability and the comparison of results is not straightforward due to methodological differences. Our study concentrates right on the economic theory of the demand for energy services, definitions and their applicability to empirical estimation. It summarizes the state of knowledge and elaborates on plausible models for empirical quantification of the rebound effect which should bear consistent results. Adapted from the source document.

The paper shows the current state of environmental concerns in economic theory. Different economic schools have incorporated the environmental analysis into their theoretical framework. They use different presumptions, focus on different environmental aspects & come to diverse conclusions & political recommendations. However, there are many unclear frontiers between one another. This paper would like to help to understand these differences. It characterizes & compares the main economic schools & theories. The paper focuses on environmental economics, ecological economics, new institutional economics, free market environmentalism, coevolutionary theory in economics & bioeconomics. References. Adapted from the source document.

The paper is concerned with the Czech privatization. According to the author, there was no economic theory of privatization in 1989. Therefore, decision makers in transition economies had to improvise & solve a dilemma: a fast, or slow privatization? The Czech literature on privatization as well as the strengths & weaknesses of privatization methods in the Czech Republic, including of the voucher one, are discussed. The paper argues against the pessimistic view on the Czech privatization, which predominated in the literature in the second half of the nineties. Tables, References. Adapted from the source document.

The paper is concerned with the economic theory of George Stigler. First part outlines the life of George Stigler. Second part examines his dissertation "Production and Distribution Theories" (1941). Third part discusses his textbook "The Theory of Price" (1946). Fourth part is devoted to his "Essays in the History of Economics" (1965). Fifth part analyzes the work "The Organization of Industry" (1968). Sixth part explains "The Theory of Economic Regulation" (1971). Seventh part discusses Stigler's book "The Citizen and the State" (1975). Eighth part presents his autobiography "Memoirs of an Unregulated Economist" (1988). Stigler has become famous thanks to articles "Economics of Information" (1961) and "Theory of Economic Regulation" (1971), which says that interest groups and other political participants will use the regulatory and coercive powers of government to shape laws and regulations in a way that is beneficial to them. Adapted from the source document.

Panel data are increasingly being used in both macro- & micro-level studies of economic problems. Macro-panel data (i denotes countries) are characteristic by sufficiently long time series to be able to analyze panel spurious regression & panel cointegration. According to the main stream of the economic theory the budget deficits leads to deterioration in the current account balance. The panel long-run causal relation is examined in the case of the four groups of countries. For the Granger causality test the panel cointegration analysis is needed. The panel cointegration relationships were not found in any case. Some similarities in the panels were found in the case of Latin America countries but they are not significant. Tables, Graphs, References. Adapted from the source document.

The publication called "The Three Archetypes of European Social Policy" focuses on three institutions of benevolence, which have been continuously developed from antiquity to the present day and which have created the basis of today's complex systems of social policies. Such institution are the gift (or alms), the work (or range of livelihood), and the loan. Text describes and explains their historical transformations with particular attention to their reflection in economic theory. The publication connects older and newer institutions of social policy and shows them as a part of single long-term development of European economy and society

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 ...

The essay deals with the development of theory in development economics as a subdiscipline of international economics, within the context of general economic theory. Although some authors believe that it started to develop during the 19th century (as some Latin American countries gained their independence at this time), most authors connect its origin with the decolonization process of the 1950s. The first part describes its rather "naive" beginnings, when it was believed that it is possible to discover a universal theory applicable to the whole "third world" -- such as theories of vicious circles of poverty, the best ways & tools for breaking them, etc. The second phase of development economics, spanning approximately 1970-1990, was characterized by disillusionment & produced a lot of mostly analytical works dealing with partial problems. The third stage (1990-present) has been characterized by a growing demand for the so-called new synthesis. As the authors believe, such a goal would be very difficult to achieve, but in essence, it is achievable by means of joint efforts based on the Millennium Development Goals, changes of international economic & political relations systems & changes in a wide range of global issues. Adapted from the source document.

In this short paper there will be introduced the stream of economic theory labeled as the New Economic Geography (NEG) & derived the core-periphery model, a flagship of the NEG. It is a model of two regions with imperfect competition & increasing returns to scale, where some properties of the model contrast certain features of basic neoclassic models of regional economics & international trade. The role of monopolistic competition & increasing returns to scale opens the possibility of highly nonlinear effects of production location with respect to barriers of trade. I analyze main mechanisms of the model & discuss the relevance of the NEG for economic policy in the context of European economic integration. Graphs, References. Adapted from the source document.

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 authors of the paper discuss reasons as well as current stage of the regulation of the financial (mostly banking) sector. They are not in favor of strict rejection of the regulation, but they are not in favor of strong regulation of the financial sector either. The article is based on the economic theory that there are objective economic reasons as well as specific financial features which cannot recommend and provide clear, simple, and unilateral solution about what level of regulation is appropriate in the financial market. The authors offer some economic ideas that can be useful for preparing and evaluating new regulation of the banking sector. The paper also defines theoretical assumptions of an ideal financial system. Based on those assumptions, the authors formulate and describe problems of real working financial (banking) system, and these problems create necessary condition, but not sufficient condition for imposing regulation. Finally, the paper describes and discusses impacts of concrete new banking regulatory proposals (increasing capital requirements, creating conservation and countercyclical capital buffers, calculating leverage ratio and liquidity ratio, and imposing bank levy). Adapted from the source document.

The paper is concerned with macroeconomic aspects of fertility. Second section starts by outlining the role of population in the history of economic thought, & continues by examining the theory of demographic transition. The fourth section explores the relation between population & economic growth, distinguishing theoretical approaches & empirical research. The fifth section examines the relation between the birth rate & death rate. The sixth section makes insights into the interdependence of fertility & business cycles. The seventh section takes the fiscal effects of population development into account. Tables, Graphs, References. Adapted from the source document.

This paper describes the main theoretical concepts of the competition, which is thought to be the fundamental social process in the economy. The protection of competition (or the competition policy) is the one of the most important parts of economic policy, because the competition ensures the freedom of choice. The theory of competition provides large number of assumptions, which were developed within the frame of various economic schools & approaches. This paper starts with the description of the history of competition policy before the coming of Adam Smith. In the middle part of the work there have been formulated basic ideological theses about economic policy. Represented are, for example, the Classics, Ordo-liberalism or Neo-austrian School. Paper is finalized by the major theses of the Harvard & Chicago school. References. Adapted from the source document.