The introduction to Volume 52, Number 4 (and 5) of Finance a uver’s selected topic: macroeconomic modelling in the Czech Republic. The authors introduce the issue with a survey of macroeconomic modelling in Czech economic literature. The journal’s articles are mostly devoted to the results...

While the significance of tourism for the Czech Republic's economy is relatively high, it is far from being the dominant industry. Despite the recent substantial investments in this particular field of economic activity, the share of tourism in the gross value added has been steadily declining,...

Financial risk modeling, measuring, and managing are an inherent part of management in financial institutions. It is also an important step within the setting of optimal level of capital eligible to cover risk exposures. A significant portion of capital is usually assigned to cover the risk of...

In this paper we construct a supply function of university education, i.e. the dependence of the supply (the number of places for students) on its price, i.e. on the revenue of university (either from scholarship or from state support) per student. We derive our results from an optimization...

Our study contains application of Latent Semantic Indexing on financial crises prediction. Hypothesis to test was that equity markets are able to predict even sharp changes in monetary policy during a quarter ahead of such a change (which was searched during two quarters that followed). This...

This paper considers various options replication methods. Firstly, a specific type of barrier option, an up-and-out call, is considered. Other barrier options are briefly also described, and various types of barriers are considered. Secondly, a general definition of replication methods is...

Hedging strategies represent basic instrument used toward eliminating financial risk. Increasing volatility of financial markets and their globalization also lead to higher financial risks. These aspects are especially important for transitional and small open economies. The basic goal of the...

The article presents and investigates new possibilities of multivariate data visualization and their analytical convenience. We demonstrate elementary principles, algorithms and graphical outputs of modern visualization methods with particular focus on Bertin matrices, RADVIZ, Projection pursuit...

The paper deals with yield curve construction methods using coupon bonds in Czech bond market. Generally, there are more possibilities how to approach this problem: bootstraping, splines, parametric functions. Due to the lack of tradable public bonds and due to the fact that existing bonds do...

The impact of different financing alternatives on two simple models of the university system is analysed in this paper. Both models are agent - based, the reason is that we analyse a system of heterogeneous universities instead of a representative university. Models differ in the rules for the...