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1

VÝBER PRODUKČNEJ FUNKCIE PRI ODHADE POTENCIÁLNEHO PRODUKTU

100%
Ochotnický P.
Ekonomický časopis (Journal of Economics)
|
2008
|
vol. 56
|
issue 8
800-815
EN
The paper surveys and compares the main substitution production function types as one of the key components used by the estimations of potential output or output gap. Based on the theoretical classification of the production functions, Fuss-McFadden-Mundlak opinion and some empirical tests of the production functions in the Slovak Republic, EU countries and USA, the paper: (a) compares the possibility of using different substitution production functions by the potential output or output gap measurement/estimation, (b) evaluates the advantages and disadvantages of using three different basic production function models/groups. In addition, the paper encourages enhancement of the empirical research of production function use with the variable characteristics.
2

PUBLIC FINANCE MANAGEMENT REFORM IN THE SLOVAK REPUBLIC VERSUS THE BELGIAN PUBLIC FINANCE MANAGEMENT SYSTEM

63%
Nonneman W., Ochotnický P.
Ekonomický časopis (Journal of Economics)
|
2006
|
vol. 54
|
issue 2
183-198
EN
The paper surveys the current situation of implementation of Public Finance Management System - reform in Slovakia, with the existing Belgian System. Based on the comparison of the main elements in the institutional arrangement and budgetary process the paper defines some interesting insights for further improvements in the budgetary process, fiscal policy and debt management in both countries. The main conclusion of the paper is that the both countries could learn a few lessons from each other when comparing the existing Belgian with the Slovak reformed public management system. The paper indicates some of the key different elements in the both public finance management systems.
3

ALTMAN’S REVISED Z’-SCORE MODEL, NON-FINANCIAL INFORMATION AND MACROECONOMIC VARIABLES: CASE OF SLOVAK SMES

51%
Káčer M., Ochotnický P., Alexy M.
Ekonomický časopis (Journal of Economics)
|
2019
|
vol. 67
|
issue 4
335 – 366
EN
In this paper, we assess the classification performance of the re-estimated Altman’s Z’-Score model for a large sample of private SMEs in Slovakia. More specifically, we assess transferability of the revised Z’-Score model (Altman, 1983) and explore the impact of the non-financial company-specific and macroeconomic variables. The dataset covers the period from 2009 to 2016 and contains 661 622 company-year observations about 149 618 individual companies with 1 575 failures. The discriminatory power of models is tested in out-of-sample period. We find that even though the model with re-estimated coefficients achieves better discrimination performance, it is not statistically different from the revised Z’-Score model. The non-financial variables improve the discriminatory performance significantly, whereas the macroeconomic variables do not. The latter even worsen the out-of-sample and out-of-time discriminatory performance.
4

DRIVING FORCES OF TOTAL FACTOR PRODUCTIVITY IN EUROPE

51%
Ochotnický P., Alexy M., Káčer M.
Ekonomický časopis (Journal of Economics)
|
2020
|
vol. 68
|
issue 10
1002 – 1020
EN
In this paper, we explore the driving forces behind total factor productivity growth in 28 European countries in the period from 2005 to 2019. Based on neoclassical theory, theory of endogenous economic growth and competitiveness theory we formulate four research hypotheses related to the impact of technological readiness, human capital, business and tax environment and creativity on the TFP growth. We used fixed effects model focusing on the impact within the countries. Our results suggest that technological readiness is an important driving force behind TFP growth. We could only partially confirm the impact of the remaining explanatory variables.
5

CENOVÁ KONKURENCIESCHOPNOSŤ A ZDANENIE ENERGETICKÝCH VSTUPOV

51%
Ochotnický P., Lajzová B., Kiseláková D.
Ekonomický časopis (Journal of Economics)
|
2011
|
vol. 59
|
issue 8
786 – 801
EN
Non-renewable energy resources and their prices are more and more important factor of the global economy and national economies growth. Taxation of the energy products and their impact on the energy prices are reflecting in competitiveness of producers, individual branches, their profitability, creation of sources for investments, for innovations and also for creativity. The paper is signalizing the potential structural impacts of taxes/prices of energy inputs on the price competitiveness of customer branches in the Slovak Republic. The input-output price model as the basic methodological approach is used in this paper.
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