New Economic Challenges – 5th International PhD Student Conference: Collection of Annotations of Contributions
New Economic Challenges – 5th International PhD Student Conference: Collection of Annotations of Contributions
Contributor(s): Oleksandra Lemeshko (Editor)
Subject(s): Politics / Political Sciences, Politics, Economy, Supranational / Global Economy, Business Economy / Management, Economic policy, International relations/trade, Political economy, Financial Markets, Fiscal Politics / Budgeting, Tourism, Transport / Logistics
Published by: Masarykova univerzita nakladatelství
Keywords: Financial crisis; Business models; Tourism policy; Financial markets; Czech banking sector; EU fiscal pact; Stock-flow; environmental fund; artificial neural network;
Summary/Abstract: The issue of financial crisis will not only be considered from the economic perspective, but also from the sociological perspective, which brings new insight and attention to phenomena that purely economic perspective can hide. It was very visible during the last financial crisis where the media was focused too much on the economic effects and not enough awareness of the social nature of the crisis. There are three main sociological perspectives: functionalist, conflict theory, and symbolic interactionism. Functionalists believe that economic recessions are functional for society because economic downturn eliminates the poorly operating businesses, while the more useful businesses survive. Conflict theory is based on Karl Marx’s work. A Capitalist system can become so complex, abstract, and alienating, that even those who seem to be controlling the system of loans, secondary loans, and hedge funds, have no idea how it is working. The system’s collapse results from this central conflict within capitalism. According to symbolic interactionism, just because people believe there will be a downturn they act in such a way that ensures the economic downturn will happen, i.e. it acts like a self fulfilling prophecy.
- E-ISBN-13: 978-80-210-8709-5
- Page Count: 295
- Publication Year: 2014
- Language: English
Models of financial crises and early warning system
Models of financial crises and early warning system
(Models of financial crises and early warning system)
- Author(s):Bohuslava Doláková
- Language:English
- Subject(s):Supranational / Global Economy, Economic policy, Financial Markets
- Page Range:6-12
- No. of Pages:7
- Keywords:Financial Crisis; Indicator; Run on the Bank; Social Capital; Warning;
- Summary/Abstract:The issue of financial crisis will not only be considered from the economic perspective, but also from the sociological perspective, which brings new insight and attention to phenomena that purely economic perspective can hide. It was very visible during the last financial crisis where the media was focused too much on the economic effects and not enough awareness of the social nature of the crisis. There are three main sociological perspectives: functionalist, conflict theory, and symbolic interactionism. Functionalists believe that economic recessions are functional for society because economic downturn eliminates the poorly operating businesses, while the more useful businesses survive. Conflict theory is based on Karl Marx’s work. A Capitalist system can become so complex, abstract, and alienating, that even those who seem to be controlling the system of loans, secondary loans, and hedge funds, have no idea how it is working.
Business model attributes of value proposed regarding the postindustrial era
Business model attributes of value proposed regarding the postindustrial era
(Business model attributes of value proposed regarding the postindustrial era)
- Author(s):Branislasv Zagoršek
- Language:English
- Subject(s):Business Economy / Management, Evaluation research
- Page Range:13-22
- No. of Pages:10
- Keywords:business model; value proposed; business model components; competitive advantage;
- Summary/Abstract:Business model is a managerial tool to understand the logic of a company. Business model tells how a company creates values for customers, what are these values, and identifies how it is compensated for values provided. Business model consists of several blocks. These blocks are built by elements. In this paper the elements of a block of proposed value are observed and studied to clarify the relationship between them. The research was conducted on 231 Slovak companies in 2013/2014 using a questionnaire survey. After gathering, data were analyzed using both MS Excel and PSPP.
Implementation of the operational program environment in Ostrava
Implementation of the operational program environment in Ostrava
(Implementation of the operational program environment in Ostrava)
- Author(s):Dominika Tóthová, Veronika Šranková
- Language:English
- Subject(s):Energy and Environmental Studies, Environmental and Energy policy, Human Ecology, Environmental interactions
- Page Range:23-34
- No. of Pages:12
- Keywords:Air pollution ; evaluation; Operational Program Environment; Ostrava; Structural Funds;
- Summary/Abstract:Due to the high concentration of heavy industry Ostrava is one of the regions with significantly polluted environment in the Czech Republic. The air pollution is the most pressing environmental issue in Ostrava. Because the insufficient air quality implicates negative health effects, it is important to look for financial options to fund the improvement of the air quality in Ostrava. The article deals with the problem of air pollution in and the potential financing of the remediation from the Structural Funds. The aim is to evaluate the use of financial support from the “Operational Program Environment” on the projects focused on the improvement of the air quality and the reduction of emissions in Ostrava.
Why feedback fails?
Why feedback fails?
(Why feedback fails?)
- Author(s):Gabriela Kolibáčová
- Language:English
- Subject(s):Psychology, Evaluation research, Human Resources in Economy
- Page Range:35-45
- No. of Pages:11
- Keywords:Competencies; Performance; Measuring; Motivation; Multisource Feedback;
- Summary/Abstract:The paper deals with the topic of feedback. The feedback in terms of a company can for instance relate to the performance, competence, values or behaviour of an employee. The feedback towards an employee which is provided the right way can enhance motivation, enhance empowerment or increase willingness to reach the highest goals. Therefore the performance of each individual affects the performance of the whole company. On the other hand, inappropriate and inadequate feedback can have devastating consequences. There are many instruments for assessing employees and giving them the feedback and the pros and cons of some of them are described in the paper. According tothe literature, 180 degree feedback (180FB) ranks among multisource feedback (MSF). The aim of this paper is to design a tool for implementing functional MSF based on published researches and theoretical sources and to analyze the uses of MSF in one particular company in order to find out the reasons why the 180FB has failed after many successful years and give the company recommendations based on the results of my own research.
System of tourism policy in selected countries
System of tourism policy in selected countries
(System of tourism policy in selected countries)
- Author(s):Martin Luštický, Pavel Švanda
- Language:English
- Subject(s):Economic history, Comparative politics, Tourism, Socio-Economic Research
- Page Range:46-56
- No. of Pages:11
- Keywords:tourism; policy; region; framework;
- Summary/Abstract:This paper deals with the tourism policy and its evaluation. Its aim is to explore the key topics related to solving problems and performs a comparative analysis of systems of tourism policy implementation in selected countries. The paper is divided into three interrelated sections: (a) research, (b) application, (c) synthesis. In the research section the paper summarizes and discusses contemporary approaches to defining tourism policy, their objectives and tools. It emphasizes the importance of tourism to the national and regional economy and its conceptual management. Therefore, there is a tourism policy described in the context of strategic management of tourism, under which it can be considered as animportant factor in the competitiveness of tourist destinations. In the application section the contribution focuses on both the national and regional level, which is for practical implementation of tourism policy essential.
Prediction of short-term price fluctuation in environment of financial markets
Prediction of short-term price fluctuation in environment of financial markets
(Prediction of short-term price fluctuation in environment of financial markets)
- Author(s):Jan Budík
- Language:English
- Subject(s):Business Economy / Management, Evaluation research, Financial Markets
- Page Range:57-64
- No. of Pages:8
- Keywords:forex; prediction; time patterns; price fluctuation; analysis;
- Summary/Abstract:The paper describes method of short-term price moves prediction focused on market with foreign exchanges (FOREX). The main assumption of the method is based on specific time periods trough the business day when is higher probability to short-term price move beginning. Short-term price move is defined as a price fluctuation which lasts from few minutes to few hours and is caused by periodically occurring financial markets events. The method has extraordinary view to pattern recognizing. Contrary to classical technical analysis the used method is not focused to price patterns (Y -axis), but is focused on time patterns (X -axis). The advantage of time pattern recognizing lies in embedded input filter, which does not allow open disadvantageous trading positions during the business day.
Liquidity management strategies in the Czech banking sector
Liquidity management strategies in the Czech banking sector
(Liquidity management strategies in the Czech banking sector)
- Author(s):Jana LAŠTŮVKOVÁ
- Language:English
- Subject(s):Economic policy, Evaluation research, Financial Markets
- Page Range:65-74
- No. of Pages:10
- Keywords:Czech banking sector; measurement of the bank liquidity; liquidity flows;
- Summary/Abstract:This paper focuses on the evaluation of the liquidity development in the banking sector of the Czech Republic. The evaluation is carried out using specific method of measurement - gross liquidity flows and their overall reallocation. This method allows determining liquidity for the banking sector as well as for the individual groups. The method is also based on liquidity flows, in addition in two forms - positive and negative, is thus the dynamic assessment of the liquidity in a perspective of its creation and outflow. This takes into account current trends in requirements for measuring and monitoring liquidity risk. Evaluation of the flows is supplemented by a correlation analysis to determine the main factors of the liquidity development.
Performance evaluation of European railway sector: DEA based approach
Performance evaluation of European railway sector: DEA based approach
(Performance evaluation of European railway sector: DEA based approach)
- Author(s):Jaroslav Bil
- Language:English
- Subject(s):Evaluation research, Transport / Logistics
- Page Range:75-85
- No. of Pages:11
- Keywords:DEA; Malmquist index; Railways;
- Summary/Abstract:In the last few years, due to the deregulating and restructuring policies in the European railway sector, efficiency measurement draws attention of many researchers. In this paper I will investigate trends in performances of rail industry before and after economic crisis of 2008. With regard to the complexity of technological process in providing railway transportation services, DEA methods (multidimensional nonparametric approach) became quite popular. I follow this methodology on the data sample of selected EU member states covering time period from 1999 to 2010. However, undemanding DEA model assumptions have some drawbacks.
Reforming banking in the capitalist 21st century: Passage of the Dodd Frank Act, the EU fiscal pact - matters arising
Reforming banking in the capitalist 21st century: Passage of the Dodd Frank Act, the EU fiscal pact - matters arising
(Reforming banking in the capitalist 21st century: Passage of the Dodd Frank Act, the EU fiscal pact - matters arising)
- Author(s):Joseph Yaw Abodakpi
- Language:English
- Subject(s):EU-Accession / EU-DEvelopment, Financial Markets, Fiscal Politics / Budgeting
- Page Range:86-98
- No. of Pages:13
- Keywords:Financial Meltdown; Reforms; Financial Architecture; Glass Steagall Act; Dodd Frank Act;
- Summary/Abstract:Due to the complex nature of Global Financial Markets and its associated Spillover effects as a result of common currencies zones, interconnectivity in the Financial and banking world, and trade, among others, this phenomenon creates challenges for global and national regulatory agencies to carry out prudent and efficient supervision of financial and banking institutions. The aim of this research paper is to advocate for a more vibrant, comprehensive but resilient Financial architectural framework with less complex regulation, cost effective and efficient regulation and also discuss some already implemented policies by national governments and international Institutions.
Credit scoring techniques application in investment decision making
Credit scoring techniques application in investment decision making
(Credit scoring techniques application in investment decision making)
- Author(s):Juraj Hruška
- Language:English
- Subject(s):Business Economy / Management, International relations/trade, Financial Markets
- Page Range:99-108
- No. of Pages:10
- Keywords:logistic regression; technical analysis; exponential moving averages; automated trading;
- Summary/Abstract:Algorithmic trading is achieving leading position in contemporary development of financial markets. Most strategies of algorithmic trading are still based on technical analysis. Basic technical analysis is following the rule that chosen strategy should be easy understandable and applicable in order to simplify investor’s decision making. This paper analyzes more sophisticated methods to combine the signals from several indicators to design investing strategy, which would be profitable in the long run. Econometrical and credit scoring methods are used to determine whether chosen indicators are relevant to the designed strategy. Explaining variables are time series of dummy variables indicating whether the indicator (exponential moving average) is suggesting submitting buy order or not.
Why Homo Economicus help each other? (Insights from behavioral economics and neuroeconomics)
Why Homo Economicus help each other? (Insights from behavioral economics and neuroeconomics)
(Why Homo Economicus help each other? (Insights from behavioral economics and neuroeconomics))
- Author(s):Lenka Kopečková
- Language:English
- Subject(s):Economy, Neuropsychology, Behaviorism
- Page Range:109-120
- No. of Pages:12
- Keywords:Social preferences; Behavioral Economics; Neuroeconomics;
- Summary/Abstract:Students of economics are commonly “drummed into head” that people do not care about others. Our subjects are “Homo Economicus” and they only care about maximization of own utility no matter of what impact it has on others. Yet in our daily, we can observe many examples that go against this assumption. People contribute to charities, donate blood and sometimes they even sacrifice theirs life to help others. This clearly contradicts assumption of rationality- but is this behavior irrational? This review study aims to briefly map development of economic thinking about rationality in a relation to social decision making. It begins with neoclassical „rational man“ and its origins. It goes further by introducing behavioral economics and its theories of social preferences -which claim that helping others may in fact lead to maximization of one’s own utility. On examples of selected studies it shows its strengths and weaknesses.
Various aspects of linear programming utilization by Slovak production enterprises
Various aspects of linear programming utilization by Slovak production enterprises
(Various aspects of linear programming utilization by Slovak production enterprises)
- Author(s):Lenka Veselovská
- Language:English
- Subject(s):Business Economy / Management, Economic policy
- Page Range:121-129
- No. of Pages:9
- Keywords:linear programming; economic effects; production process; production enterprises; survey;
- Summary/Abstract:This paper focuses on the topic of process optimization. Linear programming is one of the methods used in practice to achieve the best possible outcomes. A survey was conducted among Slovak production enterprises in order to evaluate the various aspects of utilization of these methods with emphasis on economic effects of linear programming utilization. This paper presents results of this survey. The aim of the paper is to evaluate the economic effects of linear programming utilization as perceived by Slovak production enterprises. The assessment was based on experiences of enterprises and opinions of key managers who deal with problem-solving activities in operations practice. Questionnaire was used as a data gathering tool.
Does need for cognitive closure amplify the decoy effect?
Does need for cognitive closure amplify the decoy effect?
(Does need for cognitive closure amplify the decoy effect?)
- Author(s):Michal Ďuriník
- Language:English
- Subject(s):Psychology, Business Economy / Management, Socio-Economic Research
- Page Range:130-140
- No. of Pages:11
- Keywords:asymmetric dominance; decoy effect; experiment; need for cognitive closure; NFCC;
- Summary/Abstract:This paper aims to develop hypotheses on the relationship between people’s Need for Cognitive Closure score and how they perform in decision-making task involving asymmetrically dominated alternative. This paper also proposes an experimental design to verify the hypotheses. When designing a choice set, one can increase the probability of option A being chosen by introducing a decoy - option B, which is similar but inferior to A. This effect is known as Asymmetric Dominance Effect. Although the effect has been investigated in a number of previous studies, the examination of the role of individual differences in decoy performance is missing. This paper focuses on how the different levels of Need for Cognitive Closure (NFCC) in decision makers might result in different decoy performance.
Demographic factors, solid waste generation and solid waste expenditures
Demographic factors, solid waste generation and solid waste expenditures
(Demographic factors, solid waste generation and solid waste expenditures)
- Author(s):Michal Struk
- Language:English
- Subject(s):Public Administration, Comparative politics, Evaluation research, Demography and human biology
- Page Range:141-152
- No. of Pages:12
- Keywords:demographic factors; waste generation; municipal expenditures;
- Summary/Abstract:Paper presents a quantitative research concerning various municipal demographic factors and their relationships with municipal solid waste generation. Analyzed factors consist of overall population size of the municipality, level of males and females among the population, level of registered unemployment, population age structure, ratios of flats to total houses, population density and municipality size. Created econometric model estimates coefficients and significance of examined factors regarding actual solid waste generation based on the data from selected sample of municipalities from the South Moravian Region in the Czech Republic.
The words matter – bribe or gift?
The words matter – bribe or gift?
(The words matter – bribe or gift?)
- Author(s):Miloš Fišar
- Language:English
- Subject(s):Evaluation research, Corruption - Transparency - Anti-Corruption
- Page Range:153-160
- No. of Pages:8
- Keywords:corruption; economic experiment;
- Summary/Abstract:We performed a simplified corruption experiment which was based on experimental design by Lambsdorff & Frank (2011). In a simple ultimatum game two players act as public official and business manager. At first, the game is opened by decision of the manager what framing would be used in the game – he offers a bribe or gives a gift. Public official may then blow a whistle, take opportunistic or reciprocal action. In last stage of the game manager may report behavior of the public official. We carried out the experiment with student applicants and senior students of Public economics at the Faculty of Economics and Administration at Masaryk University in Czech Republic. In this paper we show that the subjects frame the game differently. But behave similarly in their actions (whistleblowing, opportunism, reciprocity).
European deregulation of railways: What has been done and what is ahead?
European deregulation of railways: What has been done and what is ahead?
(European deregulation of railways: What has been done and what is ahead?)
- Author(s):Monika Jandová, Tomáš Paleta
- Language:English
- Subject(s):Evaluation research, EU-Accession / EU-DEvelopment, Transport / Logistics
- Page Range:161-172
- No. of Pages:12
- Keywords:deregulation; railway packages; railways; European Commission;
- Summary/Abstract:The aim of this paper is to describe the implementation process of the European transport policy in the railway sector. It is primarily focused on the impact of the European railway packages, their content and politics behind the negotiation. The paper analyses the process of implementation of the European legislation of the railway packages, the way how the implementation was carried out and what are the real results in the railway transport environment. Further the omissions and mistakes are analyzed and in this context the decision of the Court of Justice of the European Union are analyzed.
Assessment of the systemic way of risk management in construction companies in the Czech Republic by the use of a chosen criterion
Assessment of the systemic way of risk management in construction companies in the Czech Republic by the use of a chosen criterion
(Assessment of the systemic way of risk management in construction companies in the Czech Republic by the use of a chosen criterion)
- Author(s):Omar Ameir
- Language:English
- Subject(s):Business Economy / Management, Evaluation research
- Page Range:173-178
- No. of Pages:6
- Keywords:approach to risk management; the risk characteristics; impacts’ duration; revealing the impact; legislative requirements on the risk management;
- Summary/Abstract:Companies or firms can use many different methods, approaches and risk management processes. These approaches could be divided by many differing factors. One of the main ones may be the finding if they approach it by a systemic or intuitive way. This article deals with the issue how systematically construction companies in the Czech Republic approach the risk management. Systemic level of risk management is thing very voluminous and common. It could be explored by many visual angles and measured through many different factors. Important is determine basic criterion, according to whose will systemic level of risk management in organization assesment. In this work the criterion for assessment of risk management systemic level is risk characteristics.
Stock-flow consistent modelling: An alternative approach for dynamic models
Stock-flow consistent modelling: An alternative approach for dynamic models
(Stock-flow consistent modelling: An alternative approach for dynamic models)
- Author(s):Ondřej Komínek
- Language:English
- Subject(s):Business Economy / Management, Economic policy, Methodology and research technology, Fiscal Politics / Budgeting
- Page Range:179-190
- No. of Pages:12
- Keywords:stock-flow consistent model; flow of funds; modern monetary theory;
- Summary/Abstract:This paper looks at the recent development in macroeconomic dynamic modelling. An analysis is focused on stock-flow consistent model as an alternative method to New Keynesian DSGE models. The methodology of stock-flow consistent models is based explicitly on the national accounts. This approach develops accounting view on financial assets and models behaviour of entities, typically sectors in economies. The behaviour is captured by changes in flows of funds and stocks. Due to this feature, SFC models are suitable for studying the effects of imbalances at the aggregate level, particularly possibilities and limitations of monetary and fiscal policy.
A simulation model of a monopoly passenger rail service with two-way traffic: testing the optimization algorithm
A simulation model of a monopoly passenger rail service with two-way traffic: testing the optimization algorithm
(A simulation model of a monopoly passenger rail service with two-way traffic: testing the optimization algorithm)
- Author(s):Ondřej Krčál, Rostislav Staněk
- Language:English
- Subject(s):Evaluation research, Transport / Logistics
- Page Range:191-200
- No. of Pages:10
- Keywords:agent–based model; rail; monopoly; fare; timetable;
- Summary/Abstract:We present an agent–based model of a long–distance passenger rail service. The model contains two terminal stations and a monopoly train operating company whose aim is to set the fare and departure times from both stations so that its profit is maximized. The paper introduces an algorithm that combines three different elimination strategies which are used for finding the optimum timetable. Starting from the maximum possible number of departures, the strategies might sequentially eliminate either one random pair of departures, each from a different terminal station, two pairs of departures, or a number of departures necessary to significantly reduce capital costs of the operating company. The strategies might be combined in different proportions.
Selected linkages of population movement in the Czech Republic
Selected linkages of population movement in the Czech Republic
(Selected linkages of population movement in the Czech Republic)
- Author(s):Ondřej Petr
- Language:English
- Subject(s):Health and medicine and law, Human Ecology, Environmental interactions, Migration Studies, Socio-Economic Research
- Page Range:201-209
- No. of Pages:9
- Keywords:air pollution; health; migration; unemployment;
- Summary/Abstract:With the growing influence of the world's population and economy on the environment, environmental issues are increasingly becoming the subject of regular communication. To some extent it may be artificially created and bureaucraticly fueled discussion, but mainly the question of landscape management is justified and necessary to deal with. State of the environment is an important factor of the quality of life in the regions. Nowadays, harmonic and clean environment is not only the ideal for recreation, but also becomes one of the components of the desired standard of living. From this perspective, it might be generally assumed that with increasing levels of environmental pollution will increase motivation of inhabitants to leave the affected areas and move to areas with more favorable environmental status.
Customers’ perception of the subjects of the business model B2C in Visegrad group countries
Customers’ perception of the subjects of the business model B2C in Visegrad group countries
(Customers’ perception of the subjects of the business model B2C in Visegrad group countries)
- Author(s):Igor Fedorko, Richard Fedorko, Radovan Bačík, Matúš Kubák
- Language:English
- Subject(s):Business Economy / Management, ICT Information and Communications Technologies, Socio-Economic Research
- Page Range:210-218
- No. of Pages:9
- Keywords:e-business; e-commerce; Visegrad group; B2C; customer satisfaction;
- Summary/Abstract:The aim of the paper is to define specific aspects of e-commerce model B2C in Visegrad group countries according to customers. The paper summarizes the current state of e-business and ecommerce issue in the Czech Republic, Hungary, Poland and Slovakia. The study contains data obtained from the data analysis of 5.228.127 evaluations of 9.260 e-shops. The main focus is givento the customer’s perception of the overall satisfaction with an e-shop in relation to communication with a customer or the overall satisfaction with an e-shop and delivery time.
Use of environmental fund in practice
Use of environmental fund in practice
(Use of environmental fund in practice)
- Author(s):Roman Vavrek, Ľudmila Bednárová, Mária Jusková
- Language:English
- Subject(s):Energy and Environmental Studies, Economic policy, EU-Accession / EU-DEvelopment, Fiscal Politics / Budgeting
- Page Range:219-227
- No. of Pages:9
- Keywords:environmental fund; finance; eligible entities;
- Summary/Abstract:In Slovakia there are three basic financial sources to finance environmental activities - own funds, the European Union funds and state budget funds. The Environmental fund (established by Act no.587/2007 coll.) presents together with the Recycling fund (established by Act no. 223/2001 coll.) one of available possibilities to finance environmental projects. This contribution deals with the analysis of fund provision and the way of their use during its almost 10-year-existence. In the context of this issue is contribution more focused on past three years. The aim of this contribution is to provide an overview of the basic legislation, the structure of revenues and expenditures of the Environmental fund, types of state support for environmental care, support conditions and procedure for support provision.
The usage of artificial neural network on EUR/USD prediction model
The usage of artificial neural network on EUR/USD prediction model
(The usage of artificial neural network on EUR/USD prediction model)
- Author(s):Stanislav Kudelás
- Language:English
- Subject(s):Evaluation research, Financial Markets
- Page Range:228-234
- No. of Pages:7
- Keywords:forex; ANN; prediction; time-series; analysis;
- Summary/Abstract:The paper describes method of trend change prediction focused on market with foreign exchanges (FOREX) in short-term time-series. The main assumption of the method is based on use of artificial neural network as a tool for analyzing and predicting the point of trend changing. Point of trend changing define beginning or end of period where trend is rising or falling. The method has extraordinary view to prediction making. Method is based on fundaments of technical analysis with use of artificial neural network (ANN) as a core for prediction making.
Ex-post merger analysis: A case study of a P&G/Gillette merger
Ex-post merger analysis: A case study of a P&G/Gillette merger
(Ex-post merger analysis: A case study of a P&G/Gillette merger)
- Author(s):Tomáš Houška
- Language:English
- Subject(s):Business Economy / Management, Financial Markets
- Page Range:235-246
- No. of Pages:12
- Keywords:competition policy; merger simulation; efficiency; remedies; nested logit model;
- Summary/Abstract:Recent trends in competition policy emphasize the significance of post-merger assessment studies, especially in cases where competition agencies actively intervened. Reviewing these merger decisions later in time can determine their efficiency and identify whether there was a more appropriate way to reach the economic objective of merger regulation. Identifying weaknesses in merger-review process is desirable as it improves the efficiency of the future merger decision issued by the competition authority. Using a case study of P&G/Gillette merger from 2005, I conduct a post-merger analysis and evaluate the efficiency of structural remedies imposed by Federal Trade Commission (FTC) on one of the influenced markets (market for men's deodorants).
Liberalization of rail freight in the EU
Liberalization of rail freight in the EU
(Liberalization of rail freight in the EU)
- Author(s):Tomáš Paleta, Monika Jandová
- Language:English
- Subject(s):EU-Accession / EU-DEvelopment, Transport / Logistics
- Page Range:247-259
- No. of Pages:13
- Keywords:rail liberalization; rail freight; EU; railway performance;
- Summary/Abstract:EU Rail Policy is above all aimed at liberalization of the European rail industry, both passenger and freight. Even if liberalization in rail industry is not a completely new direction, the development process has been accelerated recently. European railway industry has been pushed to the new era with different competitive environment which was motivated by the EU effort to revitalize the EU’s railway.
The extensive margin in international trade – the case of the Czech Republic and China
The extensive margin in international trade – the case of the Czech Republic and China
(The extensive margin in international trade – the case of the Czech Republic and China)
- Author(s):Veronika Končikova, Miroslav Hloušek
- Language:English
- Subject(s):Business Economy / Management, Economic policy, International relations/trade
- Page Range:260-280
- No. of Pages:21
- Keywords:trade; China; Czech Republic; extensive margin;
- Summary/Abstract:This paper deals with empirical analysis of international trade between China and the Czech Republic during the last fifteen years. The goal of the paper is to find out if the growth in export is of intensive or extensive type. We follow methodology of Kehoe and Ruhl (2013) and use detailed (four-digit) tradestatistics on the value of trade flows by commodity according to Standard International TradeClassification (SITC) codes. We find out that the goods that were traded the least in the benchmark year account for disproportionate share in trade after liberalization and reduction of trade barriers. Between the years 1999 and 2012 there was a significant increase in the goods which had not been traded previously.
The terrible, horrible, not good, very bad truth about economics and what to do about it
The terrible, horrible, not good, very bad truth about economics and what to do about it
(The terrible, horrible, not good, very bad truth about economics and what to do about it)
- Author(s):Lukáš Likavčan
- Language:English
- Subject(s):Energy and Environmental Studies, Behaviorism, Methodology and research technology
- Page Range:281-293
- No. of Pages:13
- Keywords:actor limits; behavioural economics; design; ecological economics; environmental limits; normative systems; Simon’s Scissors;
- Summary/Abstract:This paper presents a sketch of a philosophical defence of heterodoxical methodologies in social sciences from a perspective of behavioural and ecological economics. Its main thesis explores the bad truth about contemporary mainstream economics: that it stays at least partly uninformed about the nature of actors and environment, what is particularly dangerous when it comes to the matter of policy-advising and policy-making. Provided that any social science which postulates norms without the framework of descriptive facts produces in the long run unbearable and counter productive social practice, I propose that economists have to slog through the hard stuff of understanding the material structure of the objects they are interested in, and not simply taking their nature for granted.
