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...

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 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 is concerned with pension reform in the Czech Republic and abroad. It argues against two opinions: on the one hand, that it is not necessary to do anything, and on the other hand, that a mandatory funded system should be implemented. Both approaches are false, because of creating...

The authors' approach to the ethical and political aspects of inter-temporal interactions is the following: 1) Two representative agents Ra and Râ are analyzed and asymmetries in their wealth and voting powers are dealt with by a the text-book tool of a welfare function - its intra and...

We present a model of learning in which agents learn from errors. If an action turns out to be an error, the agent rejects not only that action but also neighboring actions. We find that, keepng memory of his errors, under mild assumptions an acceptable solution is asymptotically reached....

Results of a survey concerning the importance of quality management of the educational process among high officials of Czech universities and colleges are summarized in this article. Three of possible methods of quality management in the educational process are described here: Standardization...

This paper presents the basics of the Transaction cost theory (TCT) and shows it's contribution to the Theory of the firm by the view of the new institutional economics. In the first part, author presents resources and presumptions of the TCT mainly by O. E. Williamson. The theory is based on...

We examine a strategic-choice handicap model in which males send costly signals to advertise their quality to females. Females are concerned with the net viability of the male with whom they mate, where net viability is a function of the male's quality and signal. We identify circumstances in...

This article is dealed about the requirements on new architecture of financial markets, namely for banking and insurance market. The principles of Basel II and Solvency II are discussed. The second part of article concerned with quality changes in comercial insurable risk and financial decesion...