In this article is studied hypothesis, that every period (time interval) before financial crisis is distinguished by co-movement of several variables. The study is based on monthly data (that means no quarterly data, like portfolio investment, were used). This hypothesis, tested with vector...

We analyze effect of intraday information flow in three emerging EU stock markets-the Czech Republic, Hungary, and Poland. We use five-minute intraday data on stock market index returns and 15 types of EU and U.S. macroeconomic announcements during 2004-2007. We measure each announcement as its...

The paper emphasizes how changes in credit conditions in the Czech Republic are likely to influence aggregate consumption. Aggregate consumption plays an important role in macroeconomic fluctuations and in the transmission mechanism. Czech household debt has increased in the past five years. The...

The article summarizes the main points discussed at the seminar on The Nobel Prize Laureates, 2003, held by the Czech Economic Association in March 2004. The seminar featured two main speakers: Josef Arlt (University of Economics, Prague, and Charles University, Prague), who lectured on the work...

Práce se zabývá analýzou poptávky po penìzích firem v ÈR a její výsledky následnì srovnává s výsledky analogické analýzy v sektoru domácností. Zjištìné odlišnosti v obou sektorech jsou pak komentovány zejména ve smyslu potenciálních problémù, které tyto diskrepance...

Tato práce se zamìøuje na specifika poptávky po penìzích domácností a analyzuje souèasné charakteristiky této poptávkové funkce vèetnì trendù dalšího vývoje, pøedevším vzhledem k potenciálním problémùm pøi výzkumu poptávky po penìzích na agregátní úrovni....

The exchange rate cannot significantly diverge from a (real) long-term equilibrium level consistent with the macroeconomic picture of an economy for a long period of time; otherwise, the economy suffers from macroeconomic imbalances such as below-potential growth and below natural employment, or...

Modifying IS-MP-IA model by using EU economic characteristics allows for better interpretation of the results. Specifically, from the point of view of the IS and MP curves we obtain useful information about the influence of EU economy on the Czech economy (i.e. on its GDP). We may conclude that...