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...

The text deals with claimants approaching to insolvency proceedings in decisions by courts. It focuses on the application of the Civil Proceedings Act to insolvency proceedings, especially problems of approaching insolvency proceedings. It also reflects the incorrect application of law in the...

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...

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...

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...