The aim of the article is to create a theoretical support for capital yield determination on the basement of neoclassical microeconomics. The yields of an industrial capital can be used as a discount factor in determination of the value of a firm by discounted cash flow methods. Following the...

A theoretical model describing a dependence of stock index on relevant macroeconomic variables is derived. Starting by two possible approaches, portfolio theory and heterogeneous agent hypothesis, the same model formulation resulted. An application was performed, using empirical data of the...

A simple Almost Ideal Demand System (AIDS) model transformed by the help ofShephard's lemma from a classical optimization problem is formulated and itsbasic characteristicts are presented. Using Monthly data - money supply M2,wealth, market interest rate, PRIBOR (Prague Interbank Offer Rate),...

Investment expenditure relates to an evident optimization problem: to create an optimal capital stock which is a function of expected profits. According to the Tobin´s Q - theory, investment depends on the ratio Q of the market value of business capital assets to their replacement value. A...

A common export equation is used to describe the Czech export of machinery, tradable goods, agricultural and food products, and income from the tourist industry. Four important export regions are distinguished: Slovakia, Poland, Germany and USA. The problem of small data sample, which is a...

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A major part of econometric studies is relating to events during time thus a data in time series bring specifics problems: serial correlation, seasons variations, seeming regression and bear on the problems of co-integration and unit roots. The econometric model is formulated with respect to...

Though DSGE models have provided very modest macroeconomic modeling results, they have enjoyed some massive support both from theorists and practitioners. To find an explanation for this state, this paper reviews the reasons why DSGE models fail to perform. For this purpose, first we present the...

A purpose of this paper is to formulate a continuous dynamical model for a small closed economy with a simple structure and with a minimum number of non-linearities. A basis of this model is developed from dynamical Kaldorian model. Variables in the modified dynamical Kaldorian model are in a...

The paper analyses a relationship between monetary aggregate M2 and inflation in a small open economy. The relationship between monetary expansion and inflation as well as a dynamic of income velocity of money framework in a small open economy are discussed in more details in the paper. Authors...