We investigate the macroeconomic consequences of fluctuations in the effectiveness of the labor-market matching process with a focus on the Great Recession. We conduct our analysis in the context of an estimated medium-scale DSGE model with sticky prices and equilibrium search unemployment that...

In this article, the satisfactory consumption and labor supply elasticities of demand are measured through a model of time allocation that includes eight time assignment equations by using the full time use (the temporal values of the monetary expenditure plus time spent) concept obtained by...

This paper challenges previous empirical evidence on output-inflation trade-off described in the hybrid New Keynesian Phillips curve. I estimate key coefficients of the hybrid gap-based New Keynesian Phillips curve, with both the forward- and backward-looking inflation components, in the Czech...

In the text finite mixtures of lognormal distributions are used for the modelling of net annual per capita income of the Czech households in Czech crowns in 2004?2008. All the households are divided into subgroups with observed group membership according to the attained education of the head of...

In the text finite mixtures of lognormal distributions are used for the modelling of net annual income per capita and equivalized income of the Czech households (in CZK) in 2004-2010. The development of distribution of number of members of households is analysed and the characteristics of...

This work studies implicitly weighted robust statistical methods suitable for econometric problems. We study robust estimation mainly for the context of heteroscedasticity or high dimension, which are up-to-date topics of current econometrics. We describe a modification of linear regression...

This paper is devoted to the estimation of the probability of default (PD) as a crucial parameter in risk management, requests for loans, rating estimation, pricing of credit derivatives and many others key financial fields. Particularly, in this paper we will estimate the PD of US banks by...

This paper analyses the pay-per-bid auctions which have appeared recently on the Internet and scored an immediate business success. In these auctions bidders pay a small, but irrevocable fee each time they want to increase the price. In this paper we test the model suggested by Platt, Price and...

The relationship between product market performance of a firm and its capital structure has drawn considerable amount of attention recently amongst corporate finance researchers. The same was established to be non-monotonic in the context of a developed market. The non-monotonicity in the...

The use of knowledge in business opens vast possibilities for the spectacular intensification of the rhythms of the processes of economic value creation. High speeds are a fundamental feature of the knowledge economy. The sources of high speeds in business are certain economic, technological and...