The article sheds some light on the process of measuring business cycle similarity and points out the fact that contemporary studies usually simplify this problem by measuring a simple correlation of cyclical development in GDP. The main goal is to assess the level of business cycle similarity...

The CENTROPE region covers eight regions in four countries: Austria, the Czech Republic, Hungary and Slovakia. Considering the situation on the labour market in CENTROPE, it is necessary to emphasize a high level of heterogeneity. Theoretically, it provides a potential for cross-border...

This paper provides direct empirical evidence on the nature of the relationship between effective exchange rates and selected macroeconomic fundamentals in nine central and Eastern European countries. Therefore, the paper addresses a key precondition of numerous exchange rate determination...

This paper discusses the possible determinants of liquidity flows in the Slovak banking sector. By these flows it is meant the outflow, the net changes and the total value of the liquidity. The flows are obtained according to a specific method of measuring liquidity risk – method of gross...

The purpose of this paper is to propose a general informal institution determining human ways of thinking and codes of behaviour, thus, in our case, individual support for the Welfare State. For that reason, we recommend employing the two closely related and complementary psychological concepts...

Can corruption improve economic efficiency? Classical political economists argue that corruption undermines the rule of law (Smith 2001, chap 5). The modern Public Choice proponents argue that corruption and lobbying might influence the efficiency of the rule of law. While Chicago Public Choice...

The article focuses on issues of households at risk of poverty in a relative conception. Income poverty represents a situation when the threshold of 0.6 of median income is not achieved. The analysis of a broader definition of poverty bases on identification and assessment of material...

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...

Analyzing the self-selection of workers into formal and informal sector employment in Tajikistan, a poor transition economy, with higher informal sector than formal sector wages and an informal sector employment share exceeding 50 percent, we find that the selection of formal and informal sector...

We apply a disequilibrium model of credit demand and supply to test the credit crunch hy- pothesis. We suppose that firms face credit rationing and a realised outstanding loan will be the minimum desired level of commercial bank loans and bank limit for the firm. We adopted the disequilibrium...