scholarly journals PHILLIPS CURVE DURING THE ECONOMIC CYCLE IN THE CZECH REPUBLIC AND POLAND IN THE YEARS 2000 TO 2016

2020 ◽  
Author(s):  
Božena Kadeřábková ◽  
Emilie Jašová
Keyword(s):  
Czech Republic ◽  
Phillips Curve ◽  
Economic Cycle ◽  
The Czech Republic

scholarly journals Inflation persistence in central and southeastern Europe: Evidence from univariate and structural time series approaches

2012 ◽  
Vol 59 (2) ◽  
pp. 235-266 ◽  
Author(s):  
Zorica Mladenovic ◽  
Aleksandra Nojkovic
Keyword(s):  
Czech Republic ◽  
Phillips Curve ◽  
Transition Process ◽  
Southeastern Europe ◽  
Markov Switching Model ◽  
Inflation Persistence ◽  
Inflation Dynamics ◽  
The Czech Republic ◽  
The Impact ◽  
Central And Southeastern Europe

The purpose of this paper is to measure inflation persistence in the following countries of Central and Southeastern Europe: Slovakia, the Czech Republic, Poland, Hungary, Romania and Serbia. The study sample covers monthly data from January, 1995 to May, 2010 for Poland, Hungary and Slovakia, from January 1994 to May, 2010 for the Czech Republic, and from January, 2002 to June 2010 for Romania. The shortest sample used, from January, 2003 to September, 2010, was for Serbia and is due to the late start in the transition process. The results of this study enriched the existing ones on this topic by extending the sample period to cover even the recent years of relatively higher inflation rates and by including Romania and Serbia, which were not previously considered. The study led to two main findings: first, inflation of moderate to high magnitude persistence in Hungary, Poland, Romania and Serbia, and inflation of smaller order persistence in Slovakia and the Czech Republic was detected within the Markov switching model approach. In addition, the changes in inflation persistence often correspond to changes in variability and mean of inflation. Second, New Keynesian Phillips Curve represents a valid structural approach to describe the inflation dynamics in this region. In all the six cases studied, weights on backward and forward looking behaviors were significant, while the impact of the driving variable was insignificant only once. It is found that significant influence of the economic driving variable can be captured by real gross wage inflation and real broad money growth. The estimates show that the backward-looking term plays an important role in determining the inflation dynamics. Similar conclusions are drawn by using quarterly data in econometric estimations for the selected countries.

scholarly journals Evaluation of inflation and unemployment and plotting the Philips curve of the Czech Republic

2022 ◽  
Vol 132 ◽  
pp. 01007
Author(s):  
Tomáš Krulický ◽  
Veronika Šanderová ◽  
Dominik Dolejš
Keyword(s):  
Time Series ◽  
Regression Analysis ◽  
Czech Republic ◽  
Negative Correlation ◽  
Broad Spectrum ◽  
Phillips Curve ◽  
Price Level ◽  
The Other ◽  
Short Term ◽  
The Czech Republic

The Phillips curve was supposed to mean an expansion of the doctrine based on the original regulatory ideas of J. M. Keynes. At the time of its inception (1950s), it gave governments theoretical hope, coming from the possibility of choosing a negative correlation between the price level (P) and the product (Y). Her early denial (at least in the short term) by Milton Friedman, on the other hand, has not changed anything about other applications that are still relevant until present time. In the fact, advantage of Phillips curve is her ability based on broad-spectrum use for any type of national economy. The aim of this work is to determine the shape of the Phillips curve for the Czech Republic in the period from 2000 to the present and to compare its shape with the shape of the original Phillips curve. The method of regression analysis is used here, comparison and prediction are performed using time series. In this paper, we find out what the short-term Phillips curve looks like for the Czech Republic, that it does not coincide with the original Phillips curve, and that in the future we can count on a growing correlation between inflation and unemployment.

scholarly journals Impact of Working Capital Management on Sales of Enterprises Focusing on the Manufacture of Machinery and Equipment in the Czech Republic

2014 ◽  
Vol 62 (4) ◽  
pp. 677-684
Author(s):  
Zdeněk Motlíček ◽  
Dana Martinovičová
Keyword(s):  
Czech Republic ◽  
Empirical Research ◽  
Strong Positive Correlation ◽  
Capital Management ◽  
Working Capital ◽  
Economic Cycle ◽  
Working Capital Management ◽  
The Czech Republic ◽  
Positive Correlation

A method of managing working capital significantly affects the performance of enterprises. It is be possible to assume that this influence might vary with the sector and economic cycle. The paper presents an empirical research which aims to identify individual links between working capital and company's sales. The results indicate a relatively strong positive correlation of these variables or their individual components. Findings complement the gap in the literature written by both Czech and abroad authors since the issue is not widely discussed. The research presented in this paper was carried out on medium-sized enterprises located in the Czech Republic and dealing with the manufacture of machinery and other equipment.

scholarly journals Economic cycle and economic consequences of the global SARS-CoV-2 pandemic in the Czech Republic

2021 ◽  
Vol 92 ◽  
pp. 01056
Author(s):  
Jolana Volejníková ◽  
Ondřej Kuba
Keyword(s):  
Czech Republic ◽  
Business Cycles ◽  
Business Cycle ◽  
Supply And Demand ◽  
Value Added ◽  
Economic Consequences ◽  
Human Society ◽  
Economic Cycle ◽  
Exogenous Shock ◽  
The Czech Republic

Research background: The global SARS-CoV-2 pandemic is for human society unprecedented. Coronavirus is dramatically changing people’s lives, and despite of uncertainty about the future, it is certain that its global consequences will have many dimensions. The it is undeniable that there have been significant economic impacts are unquestionable today impacts. The Czech economy, like the rest of the world, is facing an unexpected exogenous shock. This being manifests itself with varying intensity both at the level of sub-markets and on the side of aggregate supply and demand. It is literally a textbook example, explaining the outbreak of the downturn phase of the business cycle. Nevertheless, the sudden slowdown of economic activity as a result of the coronavirus pandemic, quarantine and the state of emergency, has many specificities across countries. Purpose of the article: The primary goal of this article is to analyze the economic consequences of the pandemic crisis in the reality of the Czech Republic. On this basis, it identifies the specifics of a pandemic crisis, in the context of a broader framework of economic theories of business cycles. Methods: The analytical part of the article is processed based on publicly available statistical data and economic forecasts. The derivation and argumentation of the conclusions is based on an empiric-inductive approach, methods of synthesis and comparison. Findings & Value added: The article maps the business direct and mediated economic contexts of the economic cycle caused by the coronavirus pandemic in the reality of the Czech Republic. It identifies the differences and specifics of the downward phase of the pandemic business cycle and derives their possible long-term impacts. At the theoretical level, the ambition of the article is to bring new knowledge to the contemporary economic theory of business cycles.

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