The paper examines the potential of stochastic simulation methods and Earnings at Risk method in risk analysis of farming business. The results revealed a different nature of yield and price risks in agriculture. The natural yields are low spatially correlated and the rate of yield risk depends...

This paper presents an analysis of the available options for an effective EU rural development policy. A classification of the methods used to determine an optimal rural development policy can be viewed as the specific aim of the paper. This aim is achieved by discussing...

The average level of debts of agricultural enterprises in the CR is several times higher than in countries with established market economy. The main source is so-called transformation debts connected with the transformation of ownership and enterprise structure in the Czech agriculture after...

The paper is dealing with the credit support to the Czech agriculture provided by Supporting and Guarantee Agricultural and Forestry Fund (SGAFF) during the ten years period since the inception of its activities in 1994 do the year 2003 which preceeded to the Czech entry into European Union (EU)...

The article is dealing with the evolution of Czech and Slovak institutions of government support of agricultural credit during the period of economic transition. Both the development of credit and the forms of government support used in the Czech Republic are compared with their corresponding...

The objective of this paper is to demonstrate some economywide effects of the adoption of Common Agricultural Policy. The general equilibrium approach is applied. The model is designed as a static computable general equilibrium one. The model structure reflects basic neoclassical assumption,...

We show that the cusp catastrophe model explains the crash of stock exchanges much better than other models. On the data of U.S. stock markets we demonstrate that the crash of 1987 may be better explained by cusp catastrophe theory, which is not true for the crash of 2001. With the help of...

This paper begins with a description of simple select models of inflation and their ability to fit the data. The paper in turn measures the stability of particular parsimonious models. One-step forecast tests are applied, which establish the instability of the money demand model compared with...

The paper emphasizes how changes in credit conditions in the Czech Republic are likely to influence aggregate consumption. Aggregate consumption plays an important role in macroeconomic fluctuations and in the transmission mechanism. Czech household debt has increased in the past five years. The...

The article summarizes the main points discussed at the seminar on The Nobel Prize Laureates, 2003, held by the Czech Economic Association in March 2004. The seminar featured two main speakers: Josef Arlt (University of Economics, Prague, and Charles University, Prague), who lectured on the work...