There is an increasing emphasis on evaluation of impacts of EU Cohesion Policy, using new tools, such as methods of Counterfactual Impact Evaluation. These methods have not been so-far extensively used in the evaluation of the Structural Funds interventions. Thus, it is quite new for a number of...

This paper revisits the empirical relationship between unemployment and output, and its evolution following the financial crisis of 2008, with the aim of drawing potential consequences for labour market modelling strategies in place within the European System of Central Banks (ESCB). First, the...

What are the drivers of business cycle fluctuations? And how many are there? By documenting strong and predictable co-movement of real variables during the business cycle in a sample of advanced economies, we argue that most business cycle fluctuations a re d riven b y o ne major factor. The...

This paper reviews important approaches to discounting in economic modelling. It summarizes historical approaches and discusses why exponential discounting has been adopted as a widely accepted benchmark. The article then presents hyperbolic discounting as an alternative, while stresses...

Subspace state space algorithm of autors P. van Overschee and B. de Moor is considered and it's shown to be useful tool in parameter estimation of models in state space or classical forms. The results of N4SID algorithm is used as initial guess in iterative methods (such as prediction error...

The aim scope of this paper is the empirical investigation between the yield curve and the future changes in inflation rate. The investigation is based on data of the Czech economy in the years 1993-1998. The strong evidence between these two economic variables was found with use of some...

Optimal control problem is considered: endogenous variables are to track some reference (targent) values. Uncertainty about future values of optimal targents may occur, so some pieces of information, about their characteristics may be very helpfu1. It will be shown, that certainty equivalence...

The paper presents a tool for the simulation of environmental policy impact. The main concern deals with different market structures and policy results. The subject is analyzed with use of an investment schedule of a representative firm, which faces the choice of two possible production...

This article focuses on applied general equilibrium models and explores main features of these models. Examples of successful applications of these models are demonstrated and appropriateness of the applied computable general equilibrium models in policy evaluation is assessed. Conditions of...