One of the employer's problems in his relationship to the employee is limited enforceability of work-quality. There are two types of instruments: the employer has at hand while motivating employees for higher efficiency - higher wage as a carrot and monitoring as a stick. These two instruments...

This paper deals with the narrowing the income gap between the Central and East European New Member States (NMS-5) and the EU-25 and with the trade-off between the real and nominal convergence. The methodology is based on international standards enabling comparisons of macroeconomic indicators,...

Economic growth of the Czech Republic differed strongly in two periods: 1996-1999 and 2000-2004. While in the first period the economy was hit by the recession and the average annual rate of growth of GDP reached only 0,9 %, in the second period the growth accelerated to 3,2 %. The economic...

V této práci odhadujeme determinanty meziregionální migrace obyvatelstva v České republice v letech 1992-2001. Přes zvyšující se disparity mezi regiony, míra migrace zůstává na relativně nízké úrovni a ekonomické faktory jako nezaměstnanost a mzda ovlivňují migraci pouze do...

Economic growth of the Czech Republic strongly accelerated in the years 2005-2007. Substantial decline of economic activity took place at the end of 2008 and in the year 2009. On the supply side the main contributing factors were labour and total factor productivity. On the demand side the...

Economic growth of the Czech Republic differed strongly in two periods: 2001-2003 and 2004-2006. While in the first period the average annual rate of growth of GDP reached only 2,7 %, in the second period the growth accelerated to 5,7 %. The economic growth measured by the indicators of real...

Long-term memory processes have been extensively examined in recent literature as they provide simple way to test for predictability in the underlying process. However, most of the literature interprets the results of estimated Hurst exponent simply by its comparison to its asymptotic limit of...

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....

This study thoroughly analyzes the stock market efficiency hypothesis - its weak form - in the Czech Republic, Poland and Hungary in 1995-2005. It aims to reveal whether trading on historical information about stock prices or indices may lead to economically significant abnormal profits and...

Efficient Market Hypothesis has dominated the field of research on capital market theory. It postulates that asset prices are rationally connected to economic realities and always incorporate all the information available to the market. A huge quantity of theoretical works around the world have...