Many empirical studies state that retail gasoline and diesel prices react more quickly when the crude oil price rises rather than decreases. In the paper, we confirm these asymmetric reactions of retail fuel prices in selected cities in the United States of America. We use the adjustment cost...

In our research we estimate the elasticity of substitution post-communist economies integrated in European Union. There are many approaches to estimate the production function coefficients as the elasticity of substitution. We argue that a frequency panel model is suitable econometric tool for...

Cournot oligopoly equilibrium is in general dynamically not stable, if on the market act more than two oligopolies (duopolies). In the model it is presumed that oligopolies consider the production of the others to be constant in time. If we extend the model by assumption that oligopolies expect...

In the paper we analyze the Sidrauski model similar by Walsh (2003) (see for example Sterken, 2005). For analyses it is needed to use Dynamic optimization techniques. The model is extended by endogenous labor. We show that all Walsh's conditions are kept. Even though in steady state analysis in...