The collapse of former communist regime in Central and Eastern Europe opened the transition period from centrally planned to market oriented economies. Thus, the exploration of economic systems in the special situation of transition has become an interesting research topic. The exposition plan...

Empirical data show during the historical process of economic development profound structural changes in economy. One of the most important movements is from stages where the so-called tangible investments are predominant to those where intangible investments become predominant. Applying some...

This paper extends traditional payment system simulation analysis to counterparty liquidity risk exposures. The used stress test scenario corresponds to the counterparty stress scenario applied in the BCBS standard "Monitoring tools for intraday liquidity management" (BIS, 2013). This stress...

This research attempts a theoretical and quantitative analysis of authoritarian regimes enduring in the developing countries. We attempt computer visualization of the model developed by Acemoglu and Robinson in order to derive an empirical hypothesis easily. There is a reason for us to accept...

The simulation model of business cycles emergence is proposed. In the first section a preliminary model of well known hog’s cycle is presented. The hog’s cycle is used as a metaphor for more general model of business cycles, which is presented in the second section. Emergence of fluctuations...

This paper demonstrates the impact of particular factors – such as a non-normal error distribution, constraints of the residuals, sample size, the multi-collinear values of independent variables and the autocorrelation coefficient – on the distributions of errors and residuals. This explains...