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Monetary Policy: Old Lessons and New Challenges
Zamrazilová, Eva - In: Politická ekonomie 2011 (2011) 1, pp. 3-21
The relatively long term period of stability before the present crises called even "Great Moderation" or "Golden Age of Central Banking" indicated that the infl ation targeting was a success story. As of 2008 a lot has changed and the debate over "Leaning against the wind or Clean afterwards?"...
Persistent link: https://www.econbiz.de/10008876466
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Derivatives and Bucketshops: A Forgotten History of Czech Financial Markets between the World Wars
Vlachý, Jan - In: Politická ekonomie 2011 (2011) 2, pp. 205-233
Building upon exhaustive research of extant and often fragmentary contemporary resources, this paper provides a thorough analysis of financial options trading and sales in interwar Czechoslovakia. Whilst focusing primarily on a remarkable bucketshop episode occuring in the late twenties and...
Persistent link: https://www.econbiz.de/10009019524
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Dynamic model of uncovered interest rate parity (theory and empirical verification in the transitive economies)
Durčáková, Jaroslava; Mandel, Martin; Tomšík, Vladimír - In: Politická ekonomie 2005 (2005) 3, pp. 291-304
The paper presents a dynamic approach to the theory of uncovered interest rate parity. It is examined the dynamic relation between the actual change in spot exchange rate and interest rate differential. Authors show the hypothesis of uncovered interest rate parity is based on an ex ante view and...
Persistent link: https://www.econbiz.de/10005036609
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Relative version of the theory of purchasing power parity: problems of empirical verification
Mandel, Martin; Tomšík, Vladimír - In: Politická ekonomie 2008 (2008) 6, pp. 723-738
The article discusses problems of the empirical verification of the relative version of the theory of purchasing power parity based on aggregated price indexes (especially using the consumer price index). The goal of the articles is to compare empirical results obtained from cross-country time...
Persistent link: https://www.econbiz.de/10008754973
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Complex systems in the theories of F. A. Hayek and H. A . Simon
Chytilová, Julie; Reichlová, Natálie - In: Politická ekonomie 2007 (2007) 5, pp. 694-707
scientists. Friedrich A. Hayek and Herbert A. Simon are two important scientists who may be designated as predecessors of multi … possible to deal with these principles through artificial intelligence. This paper links ideas of Hayek and Simon with multi …
Persistent link: https://www.econbiz.de/10005036628
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Seignorage and Central Bank Finance
Holub, Tomáš - In: Czech Journal of Economics and Finance (Finance a uver) 51 (2001) 1, pp. 9-32
The author of this paper criticizes the broad, cash-flow based concepts of seignorage that were introduced and emphasized by the economic literature of the 1990s (i.e., fiscal seignorage, total seignorage, etc.), which the author argues are ill justified and confusing. On the other hand, the two...
Persistent link: https://www.econbiz.de/10008549697
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Learning Process and Transparency of Central Bank
Holinka, Tomáš - In: Politická ekonomie 2010 (2010) 4, pp. 458-470
Learning process is a new approach of filling the gap between adaptive expectations and rational expectations. Private agents are learning new information and adjust their expectation about the inflation and output gap. Central bank transparency is one of the key factors of learning by private...
Persistent link: https://www.econbiz.de/10008564640
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John Maynard Keynes, Socialism and Economic Policy of Nazi Germany
Lipka, David; Šťastný, Dan - In: Acta Oeconomica Pragensia 2008 (2008) 1, pp. 108-116
Keynes foreword to the German edition of his General Theory is one of the causes of the association between his name … and a total state. This paper looks into how justified the link between Keynes's theory and the Nazi German economic … policy really is. The first part introduces Keynes's ideas on economic policy and his vision of society. These are in the …
Persistent link: https://www.econbiz.de/10005036388
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John Maynard Keynes a současná ekonomie
Sojka, Milan - 1999 - Vyd. 1
Persistent link: https://www.econbiz.de/10001391705
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Banking System Stability
Komárek, Luboš - In: Czech Journal of Economics and Finance (Finance a uver) 53 (2003) 9-10, pp. 449-451
The article summaries the main points discussed at the seminar on ?Banking System Stability?, organized by the Czech Economic Association in May 2003. There were three speakers at the seminar. The first was Martin Èihák (International Monetary Found), who presented the problem of...
Persistent link: https://www.econbiz.de/10008495828