The authors of the paper discuss reasons as well as current stage of the regulation of the financial (mostly banking) sector. They are not in favor of strict rejection of the regulation, but they are not in favor of strong regulation of the financial sector either. The article is based on the...

The Maastricht criteria measure the nominal convergence process of transformation countries to the European Union (resp. the EMU). The real convergence process, as opposed to the nominal, is much less scrutinized. Due to the high income elasticity of imports in Central and Eastern European...

This paper analyzes the development of the external balance in five Central and East European countries: Czech Republic, Hungary, Poland, Slovakia, and Slovenia. The paper applies, expands, and empirically verifies the ideas of life-cycle theory in the area of the effects of foreign direct...

Monetary and fiscal policy should be paired with the economic objectives on which they have the most influence. The authors have applied Mundell's principle of effective market classification (EMC) to the conditions of the Czech economy - a small open economy with a managed floating exchange...

The aim of our paper is to formulate and empirically verify the simple backward looking econometric model of the monetary rule, which would be able to describe the development of CNB repo rate, namely only on the basis of statistically measured and in the given time available information. We...

Preface by Chairman of the Executive Board of the Politická Ekonomie journal

In case that a central bank is withdrawing excess liquidity, there arises a question whether the monetary policy based on repo operations (withdrawal repo) is identically efficient as the monetary policy relying on repo rate connected with reverse repo (issuance repo) when central banks provide...

The aim of our paper is to formulate and empirically verify the simple backward looking econometric model of the monetary policy rule, which would be able to describe the development of monetary policy rate, namely only on the basis of statistically measured and at the given time available...