V tomto článku překládám nástin jednoho z možných přístupů, jakým může ekonomická teorie reagovat na aktuální výzvu, kterou představuje Easterlinův paradox. Klíčové téma vyžadující hlubší pochopení a uchopení ekonomickým aparátem je sociální povaha člověka,...

V tomto článku překládám nástin jednoho z možných přístupů, jakým může ekonomická teorie reagovat na aktuální výzvu, kterou představuje Easterlinův paradox. Klíčové téma vyžadující hlubší pochopení a uchopení ekonomickým aparátem je sociální povaha člověka,...

Doubts about the intrinsic value of economic performance are nothing new (T.Scitovsky, J.Galbraith). The paper starts with a criticism of „catching up“ models and a „puzzle“ of East Germans dissatisfaction with a rise of welfare after the Berlin wall’s fall. Author provides a sketch of...

The introduction to Volume 52, Number 4 (and 5) of Finance a uver’s selected topic: macroeconomic modelling in the Czech Republic. The authors introduce the issue with a survey of macroeconomic modelling in Czech economic literature. The journal’s articles are mostly devoted to the results...

While the significance of tourism for the Czech Republic's economy is relatively high, it is far from being the dominant industry. Despite the recent substantial investments in this particular field of economic activity, the share of tourism in the gross value added has been steadily declining,...

Financial risk modeling, measuring, and managing are an inherent part of management in financial institutions. It is also an important step within the setting of optimal level of capital eligible to cover risk exposures. A significant portion of capital is usually assigned to cover the risk of...

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...

The article is concerned with the economics of religion. The first chapter is introduction into the economics of religion by Adam Smith. The second chapter asks the question whether the secularization hypothesis is tenable. The third chapter analyzes the allocation of time and church attendance...

In general, there exist many ways to detect the fair value of financial derivatives. However, each of them is suitable for different purposes. For example, when the payoff function is not very simple or the underlying process is too complex, the approach of Monte Carlo simulation can be useful....