Functional Signal plus Noise (FSN) time series models are introduced for the econometric analysis of the dynamics of a large cross-section of prices in which contemporaneous observations are functionally related. A semiparametric FSN model is developed in which a smooth, cubic spline signal...

Problematika energetické spolupráce je bezesporu jedním z nejčastěji diskutovaných témat stávajících vztahů mezi Evropskou unií a Ruskou federací. Na jednu stranu energetika představuje hlavní faktor v posilování formálních a neformálních vztahů EU-Rusko. Na druhou stranu...

Autorka v príspevku analyzuje a porovnáva dva základné systémy obchodovania s emisnými povoleniami a to systém „limit a obchod“ a systém „základ a kredit“. Analyzuje výhody respektíve nevýhody využitia environmentálnych daní resp. obchodovateľných emisných povolení pri...

Autor sa v článku zaoberá jednotlivými nástrojmi environmentálnej politiky Európskej únie, ktoré člení na normatívne resp. príkazovo-kontrolné, ekonomické resp. trhovo orientované nástroje a voľné nástroje. Analyzuje ich vývoj, podstatu, ich prednosti a nedostatky....

This paper presents cointegration analyses of the import and export functions of the Czech Republic in 1993-1998 by identifying the main variable factors and estimating the long-run equilibrium relationship of Czech foreign trade functions. A long-run equilibrium relationship was found in the...

The paper presents empirical analysis of influence of different ownership forms on efficiency of Czech and Slovak banks using the Stochastic Frontier Analysis. The paper brings new results as it uses set of data which has not been used previously in the literature. On the set of 44 Czech and 21...

In this paper the authors try to measure production gap in the Czech Republic and, consequently, non-accelerating inflation product (NAIP) as an approximation of potential product. NAIP is treated as an unobservable variable, to which an augmented Phillips curve plays a key role in its...

This paper aims at constructing a model of a small open economy of the Slovak Republic. In essence, the model represents a synthesis of already published modifications of the Mundell - Fleming type of models, describing the market of goods and services in interaction with the money market and...

In this paper we analyze the dynamic conditional correlations between CEE stock markets (also known as countries from Vysehrad Group - V4) and developed European stock markets, with German DAX utilized as a benchmark. Our methodology is based on the DCC MV-GARCH approach. It is shown that the...