Volatility of the financial time series belongs to the crucial estimated parameters in finance (e.g. in risk management, derivative pricing). It is well known, that volatility varies in time, so that new approaches of volatility modeling have appeared. In this paper two models of the conditional...

This paper presents regression analyses of import and export functions in the Czech Republic from 1993 to 1998. The first part of the article summarizes the standard Keynesian income approach to the balance of payments. This traditional theory is considered alongside the theory of the monetary...

Cílem práce je odhadnout a vyšetøit dlouhodobý vztah mezi penìžní zásobou M1, cenovou hladinou, výstupem a alternativními náklady držby penìz a to, zda lze tento vztah - v pøípadì, že existuje - interpretovat ve smyslu dlouhodobé poptávky po penìzích. Práce využívá pøi...

Èlánek struènì shrnuje dosavadní pøístupy k odhadu parametrù a poèáteèních podmínek pro modely ve stavovém tvaru. Ukazuje možnosti využití jednotlivých metod, stejnì jako jejich výhody a nevýhody. Podrobnìji je zde zmiòována metoda maximální vìrohodnosti pro modely ve...

We analyze the extent of the integrated state control over the privatized companies in the Czech Republic during the decade of 1995-2005. During this period, the integrated potential of the state to control companies had a pyramid-like form. Even though the pyramid control was not fully...

This article deals with the issues of different theoretical approaches to education. Education is seen as a tool, how to distinct different marginal productivities of employees. We start from the fact of an information asymmetry on the labour markets, asymmetry between employers and potential...

The paper summarises the results of various economic concepts of minimum wage. Consecutively, it presents an analysis of the minimum wage development in the Czech Republic since its introduction in 1991 and of the impact of substantial changes in its level, which can be observed since 1999. The...

This study is concerned with decomposing the gender pay gap in the Czech Republic. It aims not only to compare male and female wage-equations but also to uncover the gender pay gap structure. The decision of many women not to participate in the labor market can be influenced by potentially low...

The main objective of this article is to analyse the institutional framework of labour market function. Theoretical literature has created a set of institutional aspects such as employment protection legislation, structure of wage bargaining, taxation of labour, active labour market policies,...