This essay examines the influence of income differentiation on private consumption. The author illustrates how to derive the total demand on individual goods from curves describing the income differentiation within the population (e.g., Lorenz) and the Engel curve. This model is later used to...

Sociální pøíjmy a danì významnì pùsobí na rozdìlení pøíjmù ve spoleènosti. Zkoumání jejich redistribuèní funkce je proto tøeba vìnovat dostateènou pozornost. Porovnání rozdìlení hrubého a èistého pøíjmu ukazuje, zda je systém daní a sociálních dávek...

This paper uses a specific experiment — „voucher privatization“ in the former Czechoslovakia — to test the permanent income hypothesis of consumer behavior. Voucher privatization (the mass privatization of state-owned assets through publicly offered vouchers) led to an unexpected...

Cílem èlánku je ukázat zmìny v redistribuci na úrovni domácností. V první èásti využíváme šetøení u obyvatelstva k analýze vývoje pøerozdìlování po roce 1989 a k analýze jeho faktorù. Ve druhé èásti se vìnujeme kontextu sociální struktury a na datech...

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...

A social rate of discount is an important variable for cost-benefit analysis. Its size can be crucial for an approval (or disapproval) of the project under evaluation, therefore it is important to have a theoretically founded estimate of the discount rate. There are two main approaches to...

The present article is focused on analysis of US and Japan government bonds´ market and revealing possible price bubbles while considering the effect of Quantitative Easing and other chosen macroeconomic factors. The aim is set if on these selected market exists price bubble or we can speak...

Monograph on the Causal Relation of Money Supply and American Stock Market deals with the effect of the change of nominal money supply on the American stock index in the studied period 1967–2014. The „Industrial“ stock index Dow Jones Industrial Average, which is considered a barometer of...

The purpose of this paper is to study a three-equation dynamic model. The first equation describes the commodity market. The second one demonstrates the dynamics of the money market and the third equation is the interest rate parity. The aim is to investigate the conditions of more complex...

The paper deals with unintended consequences of the monetary union for the level of debt in the member countries of the eurozone. First, it is shown that there exist systematic inflation and real interest rate differentials among the member countries. These differentials reach up to 3 percentage...