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...

With the accession of 10 new European Union member states in May 2004, much attention is being placed on the governance of European Community institutions. This article focuses specifically on discussions of European Central Bank (ECB) governance, particularly as regards the ECB?s amendment of...

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....

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...

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...

Our paper focuses on the analysis of supply and demand shocks and on the estimation of expected costs of introducing Euro currency into Czech Republic (CR). The analysis is based on the theory of optimal currency areas by Mundell (1961, 1973) and uses a macroeconomic approach formalized by...

In the course of exchange rate development history of the countries taking part and evaluated in ERM or ERM II before they entered the euro-area there was no depreciating evolution with a trend to currency crisis at all. Fundamental indicators of these economies, partly owing to the compliance...

The dramatically growing disproportion between the value of corporate assets and market valuation has resulted in a well-researched schism between strategic management and financial theory. Options theory provides a potent tool to resolve this issue. We propose a model which is consistent with...

Energy, or renewable energy sources, is currently a frequently discussed topic. This paper focuses mainly on the economics of photovoltaic energy, specifically valuation of this technology. First, photovoltaic power systems are described, followed by a description of the method of analysis of...