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EN
Economic recession in the world economy in 2008 – 2009 influenced the development of the Slovak economy very rapidly. Even though we can identify some general tendencies in the national economy, the impact of worldwide economic recession differs across industries in its strength and timing. In this article we try to reveal the direct and indirect dependencies of particular industries on foreign and domestic demand as well as the indirect effects of changes in sectoral structure of the final demand on the Slovak economy. We use Open Static Leontief Model and Structural decomposition analysis to analyse the changes in production, value added and employment between 2009 and 2008. We have decomposed these changes into the contribution of changes in direct coefficients, production structure, final demand structure, sectoral final demand structure and volume of final demand.
EN
This article analyses the sources of economic growth of the GDP in the Slovak Republic during 1995 - 2006 period. The analysis is based on growth accounting. The methodology and historical background of modern growth theory and growth accounting are also explained. The analysis in the article includes the computations of the capital stock data, which were not published yet officially as well as the calculations of total factor productivity in the Slovak Republic. These computations are rarely used in the Slovak Republic and their aim is to lay down the fundamentals for another development of the economic analysis in Slovakia.
EN
To understand the evolution of labour demand in European countries in the context of automation and other emerging technologies, we apply the decomposition developed by Acemoglu and Restrepo (2019) to European data. At the centre of this framework is the task content of production – measuring the allocation of tasks to factors of production. By creating a displacement effect, automation shifts the task content of production against labour, while the introduction of new tasks in which labour has a comparative advantage increases the labour demand via the reinstatement effect. Contrary to the US experience, in a group of 10 European countries, the displacement effect of automation was completely counterbalanced by technologies that create new tasks in which labour has a comparative advantage. Furthermore, our cross-country comparison reveals a substantial variation across countries. The cumulative change in the task content of production ranges from 6.2% in the United Kingdom to a strong negative effect, namely –7.6%, in Sweden. A part of the differences can be explained by the rate of adoption of industrial robots. We document a strong unconditional relationship between the change in robot density and the displacement effect. However, differences in the reinstatement effect remain unexplained.
EN
We study the relationship between market size and the number of firms in several healthcare professions in Slovakia to provide new evidence about their entry decisions and the toughness of competition on the market. The local market size that would support the entry of the first general practitioner was estimated at 1,400 inhabitants. This threshold equalled 1,700 inhabitants for the first pharmacy to enter and 2,300 for pediatricians. The population would have to more than double for the second professional to enter. To support the second firm, the population per firm in the market would have to increase by 30% for pharmacies, 25% for general practitioners, and almost 40% for pediatricians. However, after the entry of the second firm, the intensity of competition did not change, except for pediatricians. The results were robust to spatial interactions. Our estimates of spatial interactions showed negative spatial spill over effects for pharmacies, general practitioners, and dentists from 1995 to 2010. In this period, competitive effects prevailed and outweighed demand spill overs. We document that the demand effect continued to grow after 2010 and in 2017 outweighed the competition effect for pharmacies. We show that an increase in the total number of pharmacies since 2010 led to diffusion into smaller markets and that the number of markets without a pharmacy decreased.
EN
The overall economic performance is determined by the structures and interdependencies between different sectors of the economy. To analyze these direct and indirect relations that are not visible at the first glance we use the open static Leontief model. After explaining the methodology and necessary database we analyze the interdependencies in the Slovak economy based on input-output tables. We evaluate the impacts of the final consumption components on total production, employment, value added and imports. To analyze the effects of final consumption we computed the output multiplicator, employment multiplicator, value added multiplicator and import multiplicator. The conclusions are also compared with chosen developed countries.
EN
This paper is focused on the impact arising from the conclusion of the Comprehensive Economic and Trade Agreement (CETA) between the European Union and Canada on the Slovak economy, with an emphasis on the automotive industry, machinery industry and electronics industry. Its aim is to estimate the direct as well as indirect effects generated by changes in international trade on Slovakia’s value added, exports and employment, using the multi-regional input-output model. Based on different variants of development, it is expected that the average impact of CETA on the Slovak economy, as a result of the removal of the tariff barriers, will amount to 0.013% GDP, while the impact on job creation was estimated at 0.012% of the total employment. Removing the tariff barriers should lead to an increase in exports to Canada on average by 8%, in the event of a strong reaction to a price drop even by 18%.
EN
In this paper, we examine the dynamics of paper industry, its productivity, the capital-labour ratio, as well as the connections between the development of employment, labour costs and its competitiveness. An extended Leontief model with induced effects is used. We show that the Slovak paper industry grew faster than in most of the European countries. However, compared to the manufacturing sector or the whole Slovak economy, it experienced a slower growth. The final demand for the products of the paper industry generated in 2013 more than 18 thousand jobs and more than EUR 650 million of value added. The final use of paper for EUR 1 million generates value added in the Slovak economy directly and indirectly for EUR 630 thousand. One employee in the production of paper generates 3.6 jobs in the remaining industries.
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