The economic development points out the importance of the development study of sectors and branches of economics, because they can deepen or moderate volatility of the economic cycle. The article aims at mapping the rate of unemployment in the primary, secondary and tertiary sector in the Czech...

This paper surveys recent literature on real business cycles in open economies. It focuses on the empirical regularities of international macroeconomic fluctuations and provides a short discussion of the differences between the stylized facts of business cycles in advanced and in developing...

The authors contend that the theory of optimum currency areas (OCA) provides a useful framework for discussions of monetary integration. The authors summarize the historical development of monetary integration and discuss possible future development. Theoretical issues, such as those raised in...

We consider two markets in our model: wholesale, where producers' supply interacts with distributors' demand, and retail with distributors' supply and consumers' demand. The wholesale market determines the producer price index (PPI), production and indirectly also employment. In the retail...

Paul de Grauwe and Paul Krugman are two of the most significant economists who are interested in single currency influence on the economic cycle. In our paper we try to show that a complex view of argumentation of both the economists i.e. (from both the views of the individual countries and the...

This paper studies whether the dynamic behavior of real GDP, unemployment and inflation is systematically affected by the timing of elections and by changes of governments in the Czech Republic. Two basic models of political cycles are tested – the political business cycle models and the...

The paper presents an empirical analysis of the Prague stock exchange as a whole approximated by the index and also selected issues traded on the Prague stock exchange. The goal of the paper is to verify the relationship between the market as a whole and the selected issues on one hand and...

Informed trading is one of the key factors that can obstruct the efficient functioning of a financial market. The authors examine the extent of informed trading in the Czech Republic, where the financial market is alleged to be driven by informed trading. In applying the model developed by...

This paper considers the interaction among equity markets in the Czech Republic and those in developed countries. Also considered are cross-listed securities traded in the Czech Republic whose global depository receipts (GDRs) are listed in London. The models used include Granger causality,...

This study focuses on the closed-end funds in the Czech Republic. Using event-study methodology and weekly data for 24 funds from July 1996 to July 2001, this paper investigates the price and discount reaction to key events associated with the open-ending of the closed-end funds. The findings...