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Theory of money of Josef Macek and his monetary policy view
Sojka, Milan - In: Politická ekonomie 2006 (2006) 3
During 1930s and 1940s Josef Macek developed monetary theory leading to monetary policy recommendations which are deeply influenced by macroeconomic theory of John Maynard Keynes. Macek became leading Czech left-wing keynesian. His theory of money was nominalist and similarly to J. M. Keynes and...
Persistent link: https://www.econbiz.de/10005036614
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On the Way to European Union: Nominal and Real Convergence in Transition Countries
Frait, Jan; Komárek, Luboš - In: Czech Journal of Economics and Finance (Finance a uver) 51 (2001) 6, pp. 330-347
successful transition countries are turning away from the trend via the inflation differential and toward a stronger reliance on …
Persistent link: https://www.econbiz.de/10008549861
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Real Exchange Rate of the Czech Koruna and the Prices of Non-tradable Goods and Services
Mandel, Martin; Tomšík, Vladimír - In: Acta Oeconomica Pragensia 2008 (2008) 3, pp. 3-12
The paper presents both theoretical and an empirical analysis of factors influencing the prices of non-tradable goods and services in the Czech economy. The analysis discusses the development of the real exchange rate of the Czech koruna and quantifies the size of the real exchange rate...
Persistent link: https://www.econbiz.de/10005036411
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Monetary approach to inflation: A medium-term structural model in a small open economy (the case of the Czech Republic in 1996-2004)
Arlt, Josef; Kodera, Jan; Mandel, Martin; Tomšík, … - In: Politická ekonomie 2006 (2006) 3
The paper analyses a relationship between monetary aggregate M2 and inflation in a small open economy. The relationship … between monetary expansion and inflation as well as a dynamic of income velocity of money framework in a small open economy … money and tradables inflation in the case of the Czech small open economy is not found. The conclusions presented in the …
Persistent link: https://www.econbiz.de/10005036707
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Comparison of Selected Simple Models of Inflation in the Czech Economy
Melecký, Martin - In: Czech Journal of Economics and Finance (Finance a uver) 51 (2001) 5, pp. 279-297
This paper begins with a description of simple select models of inflation and their ability to fit the data. The paper … assign the best-forecast performance to the modified version of the P-star model of inflation for a small, open economy. …
Persistent link: https://www.econbiz.de/10008540713
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Contributions to Inflation and Deflation in Today?s Market Economy
Revenda, Zbynìk - In: Czech Journal of Economics and Finance (Finance a uver) 54 (2004) 7-8, pp. 335-354
There are three possible price movements in a market economy: stability, inflation, and deflation. Inflation and … deflation are defined in this article as changes in the purchasing power of money caused by the money creation. Inflation and …
Persistent link: https://www.econbiz.de/10008549675
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Price Convergence toward the EU: A Few Open Issues
Èihák, Martin; Holub, Tomáš - In: Czech Journal of Economics and Finance (Finance a uver) 51 (2001) 6, pp. 349-362
This article attempts to answer a few open questions related to price convergence in the Czech Republic and in other Central and Eastern European Countries toward prices in the European Union. The authors address the following issues: First, what, from the theoretical viewpoint, should the...
Persistent link: https://www.econbiz.de/10008549821
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The State of the Phillips Curve
Komárek, Luboš - In: Czech Journal of Economics and Finance (Finance a uver) 51 (2001) 7, pp. 430-432
The Czech Economic Association, in co-operation with the Czech National Bank, organised a public seminar on ?The State of the Phillips Curve,? which featured a lecture by Professor Laurence Ball, in Prague in April 2001. Professor Ball, a professor of economics at John Hopkins University, began...
Persistent link: https://www.econbiz.de/10008495640
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The model of unobservable components and its use for identification of time series common trends
Arlt, Josef; Pokorný, Petr - In: Politická ekonomie 2006 (2006) 1, pp. 48-55
gap transformations of real M2 and real GDP series can be used for identification of inflation risks. The relatively high … correlation was found between gap form of M2 and rate of inflation. The relationship between gap form of GDP and rate of inflation …
Persistent link: https://www.econbiz.de/10005036580
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A Simple Model of Interaction Between CPI and PPI: Application to Monthly Data of EU Countries
Kadeřábek, Petr - In: Politická ekonomie 2007 (2007) 2, pp. 226-244
and PPI. A supply shock shows itself in instant PPI adjustment, a demand shock in CPI. Thus, in the CPI inflation equation … shocks to the PPI inflation, production and employment equations. In the second part we implement the model on monthly data …
Persistent link: https://www.econbiz.de/10005036648