Purpose: In 2012, Russia became the world's second-largest exporter increasing its potash exports from 1996 to 2012 more than two times. The top five countries control more than 50 % of the world's exports, particularly 53.4 % (38.0 mln MT) for nitrogen, 73.4 % (3.5 mln MT) for phosphate and...

The paper develops a two-country monopolistic competition model of trade featuring country-specific consumer tastes. The accounting for heterogeneity in tastes is achieved by assuming different elasticities of substitution in the CES utility function for different country consumers. The proposed...

The paper deals with cross-border mergers that may be performed either out of or into the Czech Republic and focuses on the accounting and tax aspects of these transactions. Attention was also paid to the most important legal requirements imposed on merger projects and the net assets valuations....

Both the legal and accounting conceptual differences in national legislations regulating mergers may be quite significant in spite of the unification processes taking place via the transposition of EU directives into national law. Most often, we find differences in the following issues: If there...

The paper concentrates on tax aspects of merger with a special attention to cross-border ones. Despite the fact that Directive, which set the conditions for mergers, business investment and exchange rate of shares, was issued 24 years ago, unified treatment of tax aspects hasn´t been reached...

In this paper, the authors explore a dynamical version of the Aoki and Yoshikawa model (AYM) for an economy driven by demand. They show that when an appropriate Markovian dynamics is taken into account, the AYM has different equilibrium distributions depending on the form of transition...

We show how time-dependent macroeconomic response follows from microeconomic dynamics using linear response theory and a time-correlation formalism. This theory provides a straightforward approach to time-dependent macroeconomic model construction that preserves the heterogeneity and complex...

A large market economy has a huge number of degrees of freedom with weak microlevel coordination. The 'implicit microfoundations' approach considers this property of micro-level interactions to more strongly determine macro-level outcomes compared to the precise details of individual choice...

The standard Walrasian equilibrium theory requires that the marginal value product of production factor such as labor is equal across firms and industries. However, productivity dispersion is widely observed in the real economy. Search theory allegedly fills this gap by encompassing apparent...

In this paper we study the welfare effect of a monopoly innovation. Unlike many partial equilibrium models carried out in previous studies, general equilibrium models are constructed and analyzed in greater detail. We discover that technical innovation carried out by a monopolist could...