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1

INFLATION IN POLAND UNDER STATE-DEPENDENT PRICING

100%
Baranowski P., Górajski M., Malaczewski M., Szafranski G.
Ekonomický časopis (Journal of Economics)
|
2016
|
vol. 64
|
issue 10
937 – 957
EN
We investigate the short-term dynamics of the Polish economy by means of a small-scale DSGE model with stochastic menu costs. We compare macroeconomic evidence of price rigidity in a model with the state-dependent Phillips curve to a benchmark model with conventional time-dependent price stickiness. With a moderate 2.3% upper boundary on menu costs the estimated state-dependent pricing model for Poland indicates a median duration of prices about 14 months, whereas the same measure of price stickiness in the time-dependent pricing model is 3 months shorter. The result from the state-dependent pricing model estimated from macro data is closer to, both, micro-price evidence, and surveys on frequency of price changes in Poland. The difference is explained by a selection effect being present in the model with state-dependent price stickiness, only. It yields more intense and impact price adjustment after a monetary policy shock.
2

ODHADY MÍRY NEZAMĚSTNANOSTI NEAKCELURIJÍCÍ INFLACI V ČESKÉ REPUBLICE A NA SLOVENSKU

86%
Jasová E.
Ekonomický časopis (Journal of Economics)
|
2011
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vol. 59
|
issue 4
368 – 391
EN
The intention of this analysis is mapping variability of the NAIRU because of different methods and application methods on data two different countries. The author aims at detection and analysing in stable condition with structural shifts, which lead to changes in development of the NAIRU in researched countries. On the end of the paper she uses experience to prediction of development of the NAIRU in short future. In article some steps are suggested, which should increase applicability of the concept NAIRU for discussion macroeconomic policies. For the estimation of the NAIRU development, the slope and the shift of the Phillips curve, she applied the system of the methods which are commonly used at the international level. The figure of NAIRU can be investigated as a dependent variable during the research time period. Main factors causing the greatest changes of NAIRU or its fluctuations are apart from the inflation expectations themselves also: import prices, exchange rate, prices of oil and indirect taxes.
3

PAUL A. SAMUELSON A JEHO PRÍSPEVOK K ROZVOJU A POPULARIZÁCII MODERNEJ EKONÓMIE

72%
Gonda V.
Ekonomický časopis (Journal of Economics)
|
2010
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vol. 58
|
issue 5
527-542
EN
Paul Samuelson was one of the greatest economists of the second half of the 20th century; his works helped to lay the foundations of current economic theory. The aim of the paper is to show Samuelson's contribution to development of economic sciences which relates to wide range of various areas of economics, mainly economic analysis, economic dynamics and general balance, stability analysis, theory of consumption, capital theory, macroeconomics, multiplier accelerator model, elaboration of Phillips curve, creation and promotion of neoclassical synthesis etc. Samuelson popularized also economic knowledge, in particular by means of the world-famous Economics textbook which became the real Bible of economic sciences for numerous students.
4

MAKROEKONOMICKÉ ŠPECIFIKÁ DLHODOBÉHO VÝVOJA SLOVENSKÉHO TRHU PRÁCE

72%
Kárász P.
Ekonomický časopis (Journal of Economics)
|
2011
|
vol. 59
|
issue 7
684 – 699
EN
The aim of the article is an identification of macroeconomic specifics connected to the long term development of the Slovak labour market. Its realization starts from analysis of Slovak business cycles’ reflection in formation of the labour market. In continuation on this analysis relationships between growth of economic performance and employment rate investigated, including description of functionalities between them. Periods and degrees of similarities with causality represented by the Phillips curve are identified in the framework of the investigation of relationships between inflation and unemployment development. The specifics of long term unemployment with special regard to development of the economy after the global economic crisis are determined in the structure of unemployment
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