The article contests an argument that the creation of a capital market in educational "human capital" and subsequent voluntary transactions on this market are sufficient to create equal opportunities in education, consequently reducing the income premium enjoyed by households with higher initial...

This paper tries to address the problem of donator?s efficiency. In spite of the fact, that social services and public goods are not fully determined by market forces, they are not beyond the subject of economics. The state or other donator can allocate grants among recipients either efficiently...

The paper is concerned with the microeconomic foundations of fertility, analyzing three approaches: the Chicago approach, the Pennsylvanian approach and Julian Simon´s approach. The paper highlights the Chicago tradition that perceives children as either consumer goods or capital goods. The...

This paper considers the legitimacy, scope and purposes of redistribution in Czech society. The authors use data from international surveys from the mid-nineties onward, as well as several national Czech surveys. The authors claim that Czech society does not favor extensive redistribution in...

The study focuses on evaluation of institutional quality in European Union countries and its possible impact on economic performance and competitiveness. The text stems from the theoretical framework of new institutional economics, especially historical and comparative institutionalism, and it...

We evaluate the economic impact of Summer Olympic Games (SOG) potentially organized by the City of Prague in 2016. We focus on the so called Modified Northern Variant of the Games proposed by the PriceWaterhouseCoopers-Czech Republic. The first step in our analysis is quantification of a primary...

In the last years there has been a growing discrepancy between gross domestic product and gross disposable income (more than a double of government budget deficit in 2006)in favour of non-residents. The difference between the real interest rate and the rate of growth of GDP has been negative in...