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),...

A theoretical support for capital yields determination is presented based on the neo-classical microeconomics assumptions. Starting by relevant production function of a sector and having in mind an optimising behaviour of firms, we propose to measure the capital yields by the help of a minimum...

A simple AIDS model transformed by the help of Shephard's lemma from a classical optimisation problem is applied to the Czech transition economy. Using monthly data - money supply M2, wealth, market interest rate, PRIBOR = Prague Interbank Offer Rate, and real industrial production - the results...

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...

Investment is a source of maintaining or increasing of the capital stock in the economy. By increasing the capital stock, investment spending can augment the future output of the economy. Being a dynamic phenomenon, its determinants arise over various past periods and its formalization belongs...

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...