Over the past few years, the Value at Risk indicator (VaR) has evolved, without doubt, into the most frequently used comprehensive tool for assessment of potential losses caused by adverse changes in market rates. However, the common models used for VaR assessment are based only on mid prices...

The paper is focused on the disputation with Mojmir Hajek on the field of the measurement of the total factor productivity index. We point out the interpretation obstacles connected to this measurement and its results at a level of the whole economy as well as of its industries. We also refer to...

The paper focuses on the analysis of the particular sectors of non-financial corporations based on mainly yearly national accounts. We explain some of the aggregates of the national accounts but the focus of the paper is placed on the application of standard tools of financial analysis on the...

Government systems of accounting are in the EU - as well as in other developed countries - based on the GFS (national) reporting systems and a cash reporting. The presented paper aims to describe main systems of reporting tax revenues, analyse problem areas within tax accrualisation and review...

The present article is focused on analysis of US and Japan government bonds´ market and revealing possible price bubbles while considering the effect of Quantitative Easing and other chosen macroeconomic factors. The aim is set if on these selected market exists price bubble or we can speak...

Monograph on the Causal Relation of Money Supply and American Stock Market deals with the effect of the change of nominal money supply on the American stock index in the studied period 1967–2014. The „Industrial“ stock index Dow Jones Industrial Average, which is considered a barometer of...

The purpose of this paper is to study a three-equation dynamic model. The first equation describes the commodity market. The second one demonstrates the dynamics of the money market and the third equation is the interest rate parity. The aim is to investigate the conditions of more complex...

The paper deals with unintended consequences of the monetary union for the level of debt in the member countries of the eurozone. First, it is shown that there exist systematic inflation and real interest rate differentials among the member countries. These differentials reach up to 3 percentage...

The paper deals with the impact of new information on the fixed income market. We expect this to be the first study covering such a topic in Central European markets. We prepared a model of a market reaction and found out that the market is not significantly driven by new macroeconomic figures....

The paper presents a dynamic approach to the theory of uncovered interest rate parity. It is examined the dynamic relation between the actual change in spot exchange rate and interest rate differential. Authors show the hypothesis of uncovered interest rate parity is based on an ex ante view and...