In this article we estimate a small dynamic factor model (DFM) for the short-term forecasting of Slovak GDP. The model predicts the developments of real activity in the next two quarters on the basis of monthly data, which are published earlier than GDP. The regular release of various monthly...

In this article we estimate a small dynamic factor model (DFM) for the short-term forecasting of Slovak GDP. The model predicts the developments of real activity in the next two quarters on the basis of monthly data, which are published earlier than GDP. The regular release of various monthly...

The submitted paper deals with the finacial management characteristics in agriculture enterprises, as well as financial positions, financial results and controlling as an instrument ensuring planning, monitoring and adopting recovery measurements within financial management. Since the major...

The aim of this paper is to present a spectrum of approaches to managerial income statement assembling. In the preface, we explain the managerial income statement concept. We define it as a report processed for the needs of inter-business management, which intermediates various views on business...

Many economic studies address the issue of behavior of a single representative agent or a firm. Therefore, it is important to study what happens if we aggregate the agents/firms, do they keep the same behavior patterns? The aim of this study is to construct a macroeconomic model that deals with...

The efficiency of macroeconomic policies depends on adequate business cycle approximation. Given that potential output and the output gap (the difference between actual and potential output) are not directly observable, their values need to be estimated using alternative statistical, structural,...

The transformation of the world economy over the past two decades has been manifesting itself in various forms. On the one hand, there is an increasing interdependence of the world economy, which is a manifestation of the depth of the globalization process, mainly thanks to the expansion of...

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,...