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...

This paper uses a specific experiment — „voucher privatization“ in the former Czechoslovakia — to test the permanent income hypothesis of consumer behavior. Voucher privatization (the mass privatization of state-owned assets through publicly offered vouchers) led to an unexpected...

The study is focused on macroeconomic stability of the Czech economy. The first part (methodological) stems from the system of national accounting which offers two approaches: from the point of view of relationship between domestic supply and demand and between savings and investments....

The paper analyses the intertemporal approach to the balance of payments which is based on the intertemporal approach to the relation between domestic saving and investment. A key element of the presented analysis is whether world capital mobility is high enough to hold a condition that the...

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...

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...

The minimum wage has been a controversial issue since 1912, when Massachusetts (USA) passed the first state minimum wage act. The Czech Republic has had a statutory national minimum wage since 1990 (Act no. 65/1965 Coll., or the Labour Code; the specific minimum wage levels and the conditions for...

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...

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...

The purchasing power's difference between currencies appears to trigger a person to make the decision of emigrating, but it does not look to be the only one. European Union enlargement, immigration policies, as well as different personal and/or psychological reasons, have modified migrations...