Estimation of volatility of financial time series plays a crucial role in pricing derivatives. Volatility is often estimated from historical data; however, it is well known that volatility varies in time. We propose a method to choose a suitable length of historical data to estimate contemporary...

The power-generation industry offers numerous opportunities to apply real options. This paper uses current empirical market data to estimate the value of flexibility in the Czech energy sector, which can serve to compare available technologies, and support various investment decisions. The model...

The article deals with the export credit promotion in the Czech Republic. The development and structure of Czech trade and export support is presented first and it is followed by the econometric analysis of the gravity model of Czech trade. The econometric results show that the credit support...

The article deals with the export credit promotion in the Czech Republic. The development and structure of Czech trade and export support is presented first and it is followed by the econometric analysis of the gravity model of Czech trade. The econometric results show that the credit support...

The article deals with the export credit promotion in the Czech Republic. The development and structure of Czech trade and export support is presented first and it is followed by the econometric analysis of the gravity model of Czech trade. The econometric results show that the credit support...

The Stability and Growth Pact has become a primary fiscal policy framework in all European countries since 1997. Together with Maastricht fiscal criteria it determines the fiscal discipline of integration process. The aim of this study is to evaluate ex-post effectiveness of the fiscal rules...

The article deals with the export credit promotion in the Czech Republic. The econometric analysis of the gravity model of Czech trade shows that the credit support provided by specialized government agency, Czech Export Bank, has a positive but statistically weak influence on export. The other...

Panel data are a result of repeating observations of a group of units, e.g. households, firms, but also whole economies with some common characteristics as EU15, transition economies a . s. o. So, more details are available enabling to analyze a changing economic structure and its reasoning....

Panel data are specific data where cases are observed at two or more time periods. This approach brings many advantages: larger dataset, decreasing collinearity between exogenous variables and using advanced econometric models. The panel data models were applied to data from the Household Budget...

Panel data are increasingly being used in both macro- and micro-level studies of economic problems. Macro-panel data (i denotes countries) are characteristic by sufficiently long time series to be able to analyze panel spurious regression and panel cointegration. According to the main stream of...