The study concentrates on an analysis of the Czech stock market performed by an application of DCC MV GARCH model of Engle (2002). Data sample including years from 1994 to 2009 is represented by daily returns of Prague Stock Exchange index and other 11 major stock indices. There is found an...

Since the end of the 2000s, the question of the decline of French medium-sized towns has become central within the scientific and public debate. More specifically, two processes are underlined: the devitalisation of city centres on the one hand, and urban shrinkage on the other hand. The...

Using two different measures of immigrant labour-market integration (the ratio between immigrant unemployment to native unemployment, and the ratio of employment rate among natives and immigrants) this paper tests six suggested explanations of why immigrants are less likely than natives to be...

Empirical observations show that education helps to protect against labor market risks. This is twofold: The higher educated face a higher expected wage income and a lower probability of being unemployed. Although this relationship has been analyzed in the literature broadly, several questions...

We investigate how firms' market power affects the price level. In our small macro-model we show, that firms - in addition to hypothesised structural mark-up pricing power - may take advantage of favourable business cycle fluctuations. The paper provides empirical evidence for both these...

We extend the analysis of Christoffersen and Diebold (1998) on long-run forecasting in cointegrated systems to multicointegrated systems. For the forecast evaluation we consider several loss functions, each of which has a particular interpretation in the context of stock-flow models where...

We introduce collective bargaining in a static framework where the firm and its risk-neutral employees negotiate over wages in a non-binding contract setting. Our main result is the equivalence between the non-binding collective equilibrium wage-employment contract and the equilibrium contract...

Die Arbeit in der ambulanten und stationären Altenpflege muss von wenigen Fachkräften geschultert werden - zulasten der Beschäftigten, Pflegebedürftigen und Angehörigen. Beschäftigte fordern deshalb mehr qualifiziertes Personal; eine Form, dies zu erreichen, sind tarifliche...