Za posledné desaťročie sa vo svete vyskytol nový fenomén v oblasti takzvaných „leadership“ v globálnom ekonomickom raste. Rýchlosť zmien sa stále zväčšuje. Akcelerátorom rastu sú inovácie vo svete globalizácie. Svetový rozvoj určuje rastúce množstvo a novú kvalitu...

Functional Signal plus Noise (FSN) time series models are introduced for the econometric analysis of the dynamics of a large cross-section of prices in which contemporaneous observations are functionally related. A semiparametric FSN model is developed in which a smooth, cubic spline signal...

This paper examines features of the Czech stock market’s development from 1997 to 2003 and attempts to unveil the macroeconomic consequences of stock-price development. The analysis of the stock market’s behavior supports a cautionary stance on the hypothesis of the efficient-market theory,...

In this paper, we investigate the adequacy of scaling, a method frequently used in estimation of standard deviation of stock returns. Scaling is based on the assumption that standard deviation is proportional to the square root of the length of the time interval of the sample (for example daily,...