The author reverts the current mainstream discussion of deflation hampering economic growth. The author first revises the definition inflation that is often misinterpreted. He shows that deflation is a natural phenomenon that often follows periods of unsustainable asset-price bubbles. He also...

Paper analyzes the Czech social security and tax system as their redistribution aspects are concerned. On a basis of individual data, authors find that social security programs are usually properly targeted but that the tax breaks favor richer households. A microanalysis of tax expenditures is...

Èlánek se zabývá deflací, zkoumá její pøíèiny a stanovuje její typologii. Na základì tohoto zkoumání ústí v závìr, že dokud ekonomie bude stavìt na subjektivitì užitku, který nelze meziosobnì srovnávat, bude poskytovat jediný závìr. Antideflaèní politika...

While the significance of tourism for the Czech Republic's economy is relatively high, it is far from being the dominant industry. Despite the recent substantial investments in this particular field of economic activity, the share of tourism in the gross value added has been steadily declining,...

Financial risk modeling, measuring, and managing are an inherent part of management in financial institutions. It is also an important step within the setting of optimal level of capital eligible to cover risk exposures. A significant portion of capital is usually assigned to cover the risk of...

The introduction to Volume 52, Number 4 (and 5) of Finance a uver’s selected topic: macroeconomic modelling in the Czech Republic. The authors introduce the issue with a survey of macroeconomic modelling in Czech economic literature. The journal’s articles are mostly devoted to the results...

The article is concerned with the economics of religion. The first chapter is introduction into the economics of religion by Adam Smith. The second chapter asks the question whether the secularization hypothesis is tenable. The third chapter analyzes the allocation of time and church attendance...