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...

The paper presents the optimal control theory and the maximum principle technique that is suitable for solving dynamic optimalization problems in continuous time. Modern mainstream macroeconomics stresses microeconomics principles of solved problems. However, the application of the standard...

The article deals with Mill's views on methodology. The place taken by political economy in the general classification of knowledge is shown. This includes: natural distinction between physical and moral sciences (including non-reducibility of mental phenomena to physical phenomena) and...

The aim of this paper is to introduce roots of multi-agent approaches in economic theory. From the beginning, the opinion that economic system should be investigated on the basis of comprehension to its basic units was expressed by many scientists. Friedrich A. Hayek and Herbert A. Simon are two...

Karel Kouba belongs among the most prominent Czech economists of the second half of the 20th century. The paper analyzes his major contribution to the Czech economic thought in the context of economic reforms of the Prague Spring of 1968 and of economic transition in 1990s. In the communist era...

Continuing concentration of retail chains with prevailing assortment of fast moving consumer goods is empirically visible tendency present in Europe, overall consolidation of chains on saturated markets in situation of reserved consumer optimism is inavoidable. Such circumstances enable changes...