scholarly journals Modeling Macroeconomic Indicators in Unstable Economies

2021 ◽  
Author(s):  
Yuliia Zhukova ◽  
Olena Anatoliivna Sobolieva-Tereshchenko
Keyword(s):  
Developing Countries ◽  
Czech Republic ◽  
Linear Trend ◽  
Piecewise Linear ◽  
Economic Dynamics ◽  
The Czech Republic ◽  
Trend Model ◽  
Proposed Model ◽  
Continuous Models ◽  
Macroeconomic Indicators

Abstract A method for analysis of the dynamics of macroeconomic indicators based on the model of a piecewise trend for economies of unstable growth is proposed. The relevance of the article is supported by the absence of adequate mathematical models and the inadequacy of traditional continuous models to describe the features of economic dynamics of this type. Its application is demonstrated on the examples of Ukraine, Greece and Italy in comparison with stable developing countries of Eastern Europe - the Czech Republic, Slovakia and Poland. In the process of approbation new indices of instability based on this model have been developed. A higher degree of conformity of the proposed model is proved in comparison with traditional continuous models not only for countries with signs of unstable economic dynamics, but also for some countries with stable economies. During approbation, a new index of instability of growth was developed based on this piecewise linear trend model. The indices of instability of growth were calculated for 43 European countries for the period from 1989 to 2019 and their rating was built.JEL Classification: E27, D61, G17

scholarly journals Evaluation of the adequacy of government minimum wage valorization policy in the Czech Republic in 2017 in the European context

2017 ◽  
Vol 8 (1) ◽  
pp. 21 ◽  
Author(s):  
Martin Pernica
Keyword(s):  
Czech Republic ◽  
Minimum Wage ◽  
Minimum Wages ◽  
Income Poverty ◽  
The Czech Republic ◽  
Eu Countries ◽  
Macroeconomic Indicators ◽  
Per Capita ◽  
The Government ◽  
Workforce Productivity

Research background: The government of the Czech Republic has agreed to an increase in the minimum monthly wage as of the beginning of 2017 to 11,000 CZK, which represents a year-over-year increase of over 11 %. The government is thus fulfilling its objective set out in February 2014 and stipulated in the Government Statement of Purpose, i.e. to approximate the minimum wage to 40 % of average wages. Purpose of the article: The purpose of the article is to assess the adequacy of the Government Minimum Wage Valorization Policy, in particular from two points of view. Firstly, in view of selected macroeconomic indicators in the Czech Republic — the development of consumer prices, average gross wages, economic growth and workforce productivity. Secondly, in comparison with other EU member states which have introduced the institution of a minimum wage. Methods: In order to assess the adequacy of government policy to improve the social protection of the rights of the working population, a background research was conducted into the literature of important studies on the effects of minimum wages on unemployment, while the development of average gross wages in the CR, the minimum monthly wages in the CR and the Kaitz index were also analyzed. Furthermore, an evaluation of selected macroeconomic indicators in the Czech Republic was performed by means of time lines and the percentage representation of employees in the individual gross wage bands according to sex and type of economic activity. Last, but not least, a comparison was made of minimum wages, real gross domestic product per capita and workforce productivity in Euros and in purchasing power standards between the Czech Republic and countries which have enacted the institution of minimum wages. Findings and Value added: The minimum wage in the Czech Republic is the fifth lowest in the EU. In the long term, it is earned by approximately 3% of employees, which is less than the rate common in other EU countries. Currently, the amount of the minimum wage is below the threshold of income poverty. In comparison with the GDP per capita in PPS and real labour productivity per person employed in other EU countries, the position of the Czech Republic is significantly better, although other EU countries offer higher minimum wages. The decision of the current government to significantly increase the minimum wage as of 2017 is correct.

scholarly journals Implementation of R&D Results and Industry 4.0 Influenced by Selected Macroeconomic Indicators

2019 ◽  
Vol 9 (9) ◽  
pp. 1846 ◽  
Author(s):  
Jena Švarcová ◽  
Tomáš Urbánek ◽  
Lucie Povolná ◽  
Eliška Sobotková
Keyword(s):  
European Union ◽  
Czech Republic ◽  
Industry 4.0 ◽  
Economic Recession ◽  
Economic Policies ◽  
Close Link ◽  
The Czech Republic ◽  
Macroeconomic Indicators ◽  
The Business Cycle ◽  
The Impact

Successful timing of INDUSTRY 4.0 projects in businesses can be disrupted by the coming of a recession. The authors assume a close link between INDUSTRY 4.0 and research and development (R&D) projects. R&D projects are statistically internationally monitored and have a significant impact on European Union economic policies. This article explores the impact of the two economic recessions in 2009 and 2012–2013 on the number of R&D entities and human resources involved in R&D in the Czech Republic. The method of multivariate statistics with dummy variables was used. Research has shown that different sectors (business sector, government sector, higher education sector, and non-profit sector) show a different development of the number of R&D entities in times of economic crisis. The research findings indicate that current European Union grant support, tax relief, and other specific factors appear to be more important for the development of R&D projects in the Czech Republic than the effects of economic recession. In terms of longer time horizons, however, the effects of the business cycle cannot be ignored. In order to predict economic development, enterprises and other subjects can use leading macroeconomic indicators.

Entrepreneurship in Tourism Sector in Central European Country: Hospitality Trends in the Czech Republic in 2007 - 2016

2019 ◽  
Vol 9 (6) ◽  
pp. 1351
Author(s):  
Ladislav MURA ◽  
Patrik KAJZAR
Keyword(s):  
Czech Republic ◽  
Unemployment Rate ◽  
Moderate Increase ◽  
Sources Of Information ◽  
Real Wages ◽  
The Czech Republic ◽  
Central European ◽  
Tourism Sector ◽  
Macroeconomic Indicators ◽  
The Impact

The aim of this paper is to evaluate the impact of occupancy in accommodation establishments in the Czech Republic at an average pace of real wage growth (%), GDP (%) and unemployment rate (%) in the period 2007-2016. The main sources of information utilized in contributions are based on tourism statistics and selected macroeconomic indicators obtained from the website of the Czech Statistical Office. The data was analysed using SAS software. The authors use regression analysis. It deals with dependence of the quantitative variable on one or more quantitative variables. The main results of this survey indicate an increase of  occupancy in collective acommodation establishements in the Czech Republic between 2007 - 2016, as well as a moderate increase was detected in  real wages and the GDP. While detecting an  increase of  occupancy in collective acommodation establishements in the Czech Republic, the fall of unemployment rate was recognized.

scholarly journals Older motor vehicles and other aspects within the proposal of environmental tax in the Czech Republic

2013 ◽  
Vol 61 (7) ◽  
pp. 2033-2043 ◽  
Author(s):  
Petr David ◽  
Milan Křápek
Keyword(s):  
Czech Republic ◽  
Motor Vehicles ◽  
Suitable Model ◽  
Environmental Tax ◽  
Technical Documentation ◽  
Emission Data ◽  
The Czech Republic ◽  
Proposed Model ◽  
Emission Effect ◽  
Emission Limits

The article deals with theoretical and practical aspects of introducing environmental road tax for motor vehicles registered in the Czech Republic. The article analyses requirements to be met by this type of tax and reviews its functions. Further it analyses practical aspects in the sense of existence of data that is needed for accomplishing the task to find an ideal form of environmental tax. Based on these foundations, the authors identified a suitable model of taxation of motor vehicles registered in 2000 and after. Another aim was finding proper variables as regards the need of calculation of theoretical emission data in motor vehicles registered in the Czech Republic before 2000. The proposed model is expected to use emission limits as declared in technical documentation of motor vehicles registered after 2000 and theoretical limits calculated by means of variables of engine capacity and time in older motor vehicles despite the fact that these variables provide explanation for the analysed emission effect just in case of 58% diesel engines, more precisely in case of 82% petrol engines.

scholarly journals Wine consumption in the Czech Republic and the prices of alcohol

2014 ◽  
Vol 60 (No. 2) ◽  
pp. 89-98 ◽  
Author(s):  
P. Syrovátka ◽  
H. Chládková ◽  
P. Žufan
Keyword(s):  
Czech Republic ◽  
Dynamic Model ◽  
Price Elasticity ◽  
Consumer Demand ◽  
Linear Trend ◽  
The Czech Republic ◽  
Wine Consumption ◽  
Cross Price Elasticity ◽  
Per Capita ◽  
Normal Price

Consumption of wine in the Czech Republic has a growing tendency, representing 15.4 litres per capita in 1995 and 20.0 litres per capita in 2012. The goal of this paper is an analysis of the development of consumer demand for wine in the Czech Republic based on the estimation of elasticity coefficients derived from the constructed dynamic model. The overall development in the period 1948&ndash;2012 is demonstrated through the linear trend: QCW<sub>T</sub> = &ndash;340.77 + 0.1788&times;T + u<sub>T</sub>. The growing consumption of wine was examined in relation to the development of the prices of wine, beer, and rum in the period 1991&ndash;2012. The achieved negative values of the own price elasticity coefficients (ranging from &ndash;0.2957 to &ndash;0.1624) suggest, that there worked normal price reactions. Cross price elasticity coefficients of the gross demand for wine showed complementarity between the consumption of wine and beer or wine and rum. The cross price elasticity of the gross demand for wine related to the price of 10&deg; beer was &ndash;0.2757 in average, and &ndash;0.2074 in the case of rum. &nbsp; &nbsp;

scholarly journals Macroeconomic implication of the floods – a case study for the regions of the Czech Republic

2012 ◽  
Vol 60 (7) ◽  
pp. 289-298 ◽  
Author(s):  
Jana Soukopová ◽  
Lenka Furová
Keyword(s):  
Czech Republic ◽  
Capital City ◽  
The Czech Republic ◽  
Economic Level ◽  
Damage Structure ◽  
Fixed Capital Formation ◽  
Macroeconomic Indicators ◽  
Czech Society ◽  
The Impact

Floods are natural events with extensive impact on property and life of affected people. They significantly came in 1997 into the life of Czech society and since then has caused damage almost 172 billion CZK. The paper focuses on the assessment of impact of floods from 1997 to 2010 on economic level of each region. The impact is assessed on basis of development of the basic macroeconomic indicators such as GDP and economic level of regions, change in fixed capital formation, sales of industrial products and unemployment. The basic idea is to show how much floods have influenced region’s economy and if it depends more on the amount of flood damages or nature of damage (structure within infrastructure). 13 regions of the Czech Republic except Prague were chosen for the analysis. Prague was excluded from the analysis because of its specific status (capital city and the region) and economic conditions among regions in the Czech Republic (higher GDP per capita than the national average).

scholarly journals Dynamic aging chain of the Czech Republic population

2011 ◽  
Vol 59 (7) ◽  
pp. 209-216
Author(s):  
Igor Krejčí ◽  
Romana Kvasnička ◽  
Jaroslav Švasta
Keyword(s):  
Czech Republic ◽  
Demographic Data ◽  
Good Practice ◽  
Flow Diagram ◽  
Chain Molecule ◽  
The Czech Republic ◽  
Age Cohorts ◽  
Proposed Model ◽  
Complex Models ◽  
Different Populations

System dynamics is a method enabling simulation and subsequent analysis of various socio-economic problems. Even though it was founded about fifty years ago, it is relatively new and little used in the Czech Republic. It has a good practice to make use of molecules, standard partial modelling structures which make the modelling processes easier and more effective. The objective of this article is to introduce and provide such molecule of an aging chain for the Czech Republic population. To increase its usefulness the aging chain is disaggregated and divided into two chains, one for each sex. The aging chain molecule consists of stock and flow diagram, a system of differential equations and parameters quantified on the basis of demographic data for Czech Republic. Proposed model of aging chain also capture a special phenomenon of the Czech population – the postponing of motherhood and thus the increase in average age of mothers. This fact led to special model structure that is uncommon for existing aging chains of different populations.The model is constructed on the basis of official demographic data of the Czech Statistical Office and the results of the simulation are compared with the surveyed data. The intersection of data sources resulted into disaggregation of population into twelve age cohorts. The chain is created to serve as a molecule for more complex models. Therefore, variables functioning as interface for implementation into such models are indicated in the text.

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