The paper deals with a wide-spread myth that a switch from a PAYG to a funded pension system might solve adverse consequences of the population aging. It is shown, that under additional assumptions the pension debt (which is created during the process of the switch) is exactly equal to the value...

This essay focuses on the pension system and highlights some of its key elements. The first part deals with the economic principles connected with the social security system. Eatwell's model is utilized to give some basic intuition of terms and concepts used in the pension reform discussion. The...

The present article is focused on analysis of US and Japan government bonds´ market and revealing possible price bubbles while considering the effect of Quantitative Easing and other chosen macroeconomic factors. The aim is set if on these selected market exists price bubble or we can speak...

The focus of this article is the relationship between selected oil company's stock price and oil price and the dependence of these companies stock price on oil price in the period from year 2000 to 2010. The aim of this paper is pursuant to partial empirical analysis evaluate the dependence of...

Práce se zabývá popisem českých institucí podporujících úvěry poskytované malým a středním podnikatelům, zemědělcům a vývozcům. Analyzovanými institucemi jsou Exportní garanční a pojišťovací společnost, Česká exportní banka, Českomoravská záruční a rozvojová...

The paper concentrates on the description of the Czech institutions which provide credit support to small and medium-sized entrepreneurs, farmers and exporters. The paper analyses the operations of the Czech-Moravian Guarantee and Development Bank and the Support and Guarantee Agricultural and...

Czech Abstract: Článek se zabývá třemi nejvýznamnějšími ekonomickými zájmy, které sehrály významnou úlohu při vzniku amerického Federálního rezervního systému. Nejdříve je stručně pojednáno o období národního bankovnictví. Dále je argumentováno tím, že zatímco...

The Czech Republic is going to face ageing of its population. It will affect the economy in many ways. The pension system is one of them. This paper provides a view on possibilities how to insure long-term stability of the pension system in the Czech Republic using a mix of pay-as-you-go and...

The paper examines implications of both real and nominal convergence for a fully-funded pension system. The process of convergence implies that higher contribution rates are necessary in the converging economy for replacement ratios to be the same as in a steady-state economy. This effect in the...

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...