Estimation of volatility of financial time series plays a crucial role in pricing derivatives. Volatility is often estimated from historical data; however, it is well known that volatility varies in time. We propose a method to choose a suitable length of historical data to estimate contemporary...

The minimum wage has been a controversial issue since 1912, when Massachusetts (USA) passed the first state minimum wage act. The Czech Republic has had a statutory national minimum wage since 1990 (Act no. 65/1965 Coll., or the Labour Code; the specific minimum wage levels and the conditions for...