The article deals with Mill's views on methodology. The place taken by political economy in the general classification of knowledge is shown. This includes: natural distinction between physical and moral sciences (including non-reducibility of mental phenomena to physical phenomena) and...

The aim of this paper is to introduce roots of multi-agent approaches in economic theory. From the beginning, the opinion that economic system should be investigated on the basis of comprehension to its basic units was expressed by many scientists. Friedrich A. Hayek and Herbert A. Simon are two...

Karel Kouba belongs among the most prominent Czech economists of the second half of the 20th century. The paper analyzes his major contribution to the Czech economic thought in the context of economic reforms of the Prague Spring of 1968 and of economic transition in 1990s. In the communist era...

The first question that we ask ourselves in our article is whether the accounting of the central bank is supposed to respect the principles of internationally accepted standards (especially the International Financial Reporting Standards). We are looking for the basic differences in...

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...

The article provides a general description of the world money development in both developed and developing countries during the second half of 20th century. We were primarily focusing on the long run trends in dollar gold prices, monetary aggregates (broad and narrow money), foreign exchange...

In the inflation targeting regime the central bank makes a decision about interest rate adjustment based on a forecast, primarily of inflation. Thus a big part of the decisions on interest rate adjustments corresponds to systematic response of central bank to expected economic development. The...

This paper deals with the evolution of currency in circulation and world trends in selected developed countries. We argue against the opinion that money in their cash form (i.e. notes and coins) will seize to exist within the horizon of fifteen years and that only electronic means of payment...

The article discusses problems of the empirical verification of the relative version of the theory of purchasing power parity based on aggregated price indexes (especially using the consumer price index). The goal of the articles is to compare empirical results obtained from cross-country time...