New concepts have been presented in modelling of inflation dynamics recently, among others the New Keynesian Phillips curve (NKPC). There are several traditional ways of NKPC model validity testing, but none of them seems to be practically applicable in conditions of the Czech Republic. We tried...

New concepts have been presented in modelling of inflation dynamics recently, among others the new Keynesian Phillips curve (NKPC). There are several traditional ways of NKPC model validity testing, but none of them seems to be practically applicable in conditions of the Czech Republic. We tried...

In various fields of macroeconomic modelling, researchers often face the problem of decomposing time series into trend component and cycle fluctuations. While there are several potentially useful methods to perform the task in question, Hodrick-Prescott (HP) fi lter seems to have remained...

The article presents and investigates new possibilities of multivariate data visualization and their analytical convenience. We demonstrate elementary principles, algorithms and graphical outputs of modern visualization methods with particular focus on Bertin matrices, RADVIZ, Projection pursuit...

Many countries have implemented inflation targeting in recent decades. At the same time, the international conditions have been favorable, so it is hard to assess to what extent the success in stabilizing inflation should be attributed to good luck and to what extent to the specific policy...

The demand for money represents one of the most important components of the transmission mechanism. Its analysis plays an important role in the decision-making process of central banks dealing with monetary policies. This paper follows a post-Keynesian approach to the analysis of the demand for...

The paper is focused on selected factors influencing the money demand development in the Czech Republic from 1994 to 2000. The basic theoretical approaches to the money demand issue and the theoretical background of the analysis are described. The multi- and singl-equational models as a basis...

The character of the consumption function analysis in the Czech Republic is determined by short and non-stable period of the last ten years. The development of consumption in 1990 - 2000 can be divided into four partial different periods. The time series used in the econometric analysis are...

The yearly inflation rate might not always be an appropriate measure of inflation, mainly due to the fact that it does not provide up-to-date information on the level of inflation. The harmonic analysis shows that the yearly inflation rate deforms and delays the information with respect to the...