scholarly journals Fiscal sustainability in cee countries – the case of the Czech Republic, Hungary and Poland

Equilibrium ◽  
2015 ◽  
Vol 10 (2) ◽  
pp. 53 ◽  
Author(s):  
Joanna Mackiewicz-Łyziak
Keyword(s):  
Czech Republic ◽  
Structural Breaks ◽  
Price Level ◽  
Pension System ◽  
Cointegration Analysis ◽  
Fiscal Sustainability ◽  
Unit Root Tests ◽  
The Czech Republic ◽  
Dominance Testing ◽  
Fiscal Dominance

The aim of the study is to assess fiscal sustainability in the Czech Republic, Hungary and Poland and to test for existence of fiscal dominance in these countries in the context of the fiscal theory of the price level. The empirical study is conducted using unit root tests and cointegration analysis with possible structural breaks. The approach is consistent with so called backward-looking approach for fiscal dominance testing proposed by Bohn (1998). The results suggest that in the Czech Republic and Poland fiscal dominance prevailed in the analyzed period, while in Hungary – monetary dominance. The result for Hungary may be caused, however, by a one-time reduction in debt resulting from changes in pension system.

scholarly journals The Effects of Selected Macroeconomic Variables on Tourism Demand for the South Moravian Region of the Czech Republic from Germany, Poland, Austria, and Slovakia

2019 ◽  
Vol 22 (3) ◽  
pp. 25-43
Author(s):  
Tomáš Jeřábek
Keyword(s):  
Czech Republic ◽  
Open Economy ◽  
Price Level ◽  
Transportation Cost ◽  
Cointegration Analysis ◽  
Transport Cost ◽  
Tourism Demand ◽  
Elasticity Coefficient ◽  
The South ◽  
The Czech Republic

International tourism is one of the most important sectors of the open economy. The aim of this paper is to investigate the effects that income as gross domestic product, tourism price as the real exchange rate, and travel cost as the price of Brent crude oil have on inbound tourism demand (tourist arrivals) from Poland, Slovakia, Germany, and Austria in the South Moravian Region of the Czech Republic over the period 2002:M1–2018:M5. The number of Polish, German, Slovak and Austrian tourists accommodated in collective accommodation establishments within the South Moravian Region as a dependent variable are considered. To achieve this aim, cointegration analysis under the VECM approach is applied. The results show that Slovak, Polish, Austrian and German tourists respond positively to their income changes. Austrian and Slovak tourists respond negatively to changes in tourism prices in the Czech Republic. Tourists from Germany and Poland do not respond to changes in the Czech price level since their elasticity coefficients are non‑significant. German, Austrian and Slovak tourists respond negatively to transportation cost changes. Polish tourists do not respond to transport cost changes since their elasticity coefficient is non‑significant.

scholarly journals Influence of price level of imported wine on competition in the wine-production sector in the Czech Republic

2012 ◽  
Vol 50 (No. 7) ◽  
pp. 317-322
Author(s):  
R. Černíková
Keyword(s):  
Czech Republic ◽  
Price Level ◽  
Import Price ◽  
Price Policy ◽  
Wine Production ◽  
Import Prices ◽  
The Czech Republic ◽  
Production Sector

The paper is a part of solution of the grant awarded by the Ministry of Agriculture (NAZV) No. QF 3276 and analyzes the influence of the price level of imported bottled wine on the competition in the wine-production sector in the Czech Republic. The comparison of the industrial producers’ prices in the Czech Republic with the average import prices of bottled wine in particular years brings us to conclusion that a threat for Czech producers is first the price of the imported table wine (white and red) at present. The average import prices of this wine category varied under the minimal average industrial producers’ prices in 1998–2003. The average import price of the white table wine in containers up to 2 liters was 19 CZK per liter in 2003 and the minimal average industrial producers’ price was 26.90 CZK per liter in the same year. The price level is higher in case of the red table wine in general, but the average annual import prices (in 2003, 23 CZK per liter) also varied under the minimal average industrial producers’ prices in all analyzed years (in 2003, 29.70 CZK per liter). The situation is more positive for the Czech wine producers in case of the quality wine. There is a space for an increase in price. The average import prices were by 25 CZK per liter per year higher in average than the maximal industrial producers’ prices in the Czech Republic in all analyzed years. However, while the average annual import price of the white quality wine increases (50 CZK per liter in 1998; 93 CZK per liter in 2003) and creates a bigger space for the Czech wine producers in the price policy, the average annual import prices of the red quality wine varied around 80 CZK per liter in all analyzed years.

Impact of the Economic and Financial Crisis on the Pension System in the Czech Republic

2011 ◽  
Vol 57 (3) ◽  
pp. 299-312 ◽  
Author(s):  
Jirí Král
Keyword(s):  
Czech Republic ◽  
Economic Crisis ◽  
Pension System ◽  
Short Description ◽  
Pension Scheme ◽  
Current Debate ◽  
Private Pensions ◽  
The Czech Republic ◽  
The Impact ◽  
Economic And Financial Crisis

This paper addresses the situation in the area of pensions in the Czech Republic up to spring 2011. It starts with a short description of the structure of the pension landscape that differs, for example, from neighbouring countries like Poland or Hungary. In addition to a mandatory public pension scheme there exist additional voluntary private pensions. To put the impact of the financial and economic crisis into a frame, some information is given on the developments before the crisis started, taking into account parametric changes decided upon in summer 2008. Thereafter the impact of the crisis is discussed and the current debate outlined.

Social Policy in the Czech “Republic”: The Past and the Future of Reforms

2008 ◽  
Vol 22 (3) ◽  
pp. 496-517 ◽  
Author(s):  
Jiří Večerník
Keyword(s):  
Czech Republic ◽  
Work Motivation ◽  
Pension System ◽  
The Political ◽  
The Czech Republic ◽  
The Past ◽  
The Future ◽  
The Right ◽  
Political Scene

The article describes the development of Czech policy after 1989 and the controversies it caused. It first looks at the ambiguous nature of the communist welfare state and then proceeds to outline the theoretical alternatives. After early and energetic changes in the system, stagnation set in around the mid-1990s. Despite some problems, the current performance of the system is satisfactory, but its outlook in terms of long-term efficiency is unsatisfactory, as it will generate a rising debt into the future. In particular, the disadvantaged situation for families, the insufficient work motivation, and the frozen pension system are all causes for concern. The political shift to the right after 2006 ushered in reform measures and new reform plans. While reforms are necessary, their feasibility is uncertain owing to the fragility of the Czech political scene.

scholarly journals Vývoj důchodového pojištění na území dnešní ČR od počátku 20. století po současnost

AUC IURIDICA ◽  
2021 ◽  
Vol 67 (4) ◽  
pp. 147-162
Author(s):  
Milan Hrdý
Keyword(s):  
Czech Republic ◽  
20Th Century ◽  
Historical Development ◽  
Pension System ◽  
Pension Insurance ◽  
The Czech Republic ◽  
Insurance System ◽  
The Future ◽  
The Given ◽  
Pension Insurance System

The article deals with the problems of pension insurance in the territory of today’s Czech Republic from the beginning of the 20th century to the present. The main principles of the development of the pension system in the given period were identified and the analysis was performed mainly in terms of the personal and material scope of insurance, insurance obligations, and briefly in terms of the organizational security of the pension system as well. This analysis was carried out in four selected periods. At the end of the article, the relevant findings from this historical development are summarized and with their use the author's own proposal for the development of the pension insurance system in the Czech Republic in the future is presented.

Sign in / Sign up

Export Citation Format

Share Document