Politická ekonomie, 2021 (vol. 69), issue 3

Dynamický model spoločného trhu s emisnými povoleniami ako spôsob riešenia problému znečisťovania perzistentnými látkami

Dynamic Model of Common-pool Emission Permit Market as a Method for Solving the Persistent Pollutant Problem

Anetta Čaplánová, Rudolf Sivák, Keith Willett

Politická ekonomie 2021, 69(3):273-297 | DOI: 10.18267/j.polek.1317  

Dynamic Model of Common-pool Emission Permit Market as a Method for Solving the Persistent Pollutant Problem In the paper, we develop a common-pool permit market formulated as a dynamic gross pool for trading emission discharge permits (EDPs) for persistent pollutants. We discuss individual agents' demand decisions concerning EDPs and develop a common-pool market dynamic gross pool formulation, including a general set of marginal-cost pricing rules used in this type of permit trading market. Numerical simulations are used to illustrate the usefulness of this type of permit market design for addressing environmental problems.

Service Exports and Productivity: Evidence from OECD Panel Data

Seymur Ağazade

Politická ekonomie 2021, 69(3):298-321 | DOI: 10.18267/j.polek.1319  

This study aims to investigate the relationship between service exports and productivity in 27 OECD countries by using a panel dataset for the years 1995-2018. In the theoretical context, this relationship is basically handled by the learning-by-exporting and self-selection mechanisms. Additionally, product life cycle and technological gap theories also have implications related to the export and productivity association. In the study, after detecting the cross-sectional dependence, the stationarity characteristics of the exports and productivity series were investigated by Pesaran's (2007) panel unit root tests. The findings of...

Rozdiely v kapitálovej štruktúre verejne obchodovateľných podnikov Európy a USA

Differences in Capital Structure of Publicly Traded Companies in Europe and USA

Peter Krištofík, Lea Šlampiaková

Politická ekonomie 2021, 69(3):322-339 | DOI: 10.18267/j.polek.1320  

Differences in Capital Structure of Publicly Traded Companies in Europe and USA The paper aims at analysing the difference in capital structure and debt maturity choices of firms in Europe and in the USA. Employing logical and comparative study of theoretical knowledge in accordance with analysis of empirical data, the authors define the variations in leverage and long-term debt ratios. Specifically for comparability of studied markets, the analysis was based on financial data of companies that are members of STOXX600, which is considered the primary index for the European market, and S&P 500, which is considered one of the best representations...

Analýza vzájemných vztahů v nekryté úrokové paritě (příklad měnového páru CZK/EUR)

Analysis of Relations in Uncovered Interest Rate Parity: Example of CZK/EUR Exchange Rate

Martin Mandel, Jan Vejmělek

Politická ekonomie 2021, 69(3):340-359 | DOI: 10.18267/j.polek.1322  

Analysis of Relations in Uncovered Interest Rate Parity: Example of CZK/EUR Exchange Rate The aim of the paper is to make an empirical verification of both concepts of the validity of uncovered interest rate parity, ex post and ex ante, using the predicted CZK/EUR exchange rate (for one month and one year) as a proxy variable for market expectations. We formulate the difference between the econometric procedures applied in the case of stationary and non-stationary time series. We perform a cointegration analysis and empirical verification of the error correction model, where PRIBOR interest rates and the actual and expected development of the CZK/EUR...

Okupační politika v průmyslu protektorátu Čechy a Morava na příkladu Škodových závodů

Occupation Policy in Protectorate of Bohemia and Moravia Industry: An Example of Škoda Works

Klára Fabianková, Tereza Burianová

Politická ekonomie 2021, 69(3):360-381 | DOI: 10.18267/j.polek.1316  

Occupation Policy in Protectorate of Bohemia and Moravia Industry: An Example of Škoda Works The study describes occupation policy and administration, including goals in the Pro-tectorate of Bohemia and Moravia. It analyses measures carried out by the occupation administration in the manufacturing, more specifically in the armament industry, and presents selected specific measures and their impacts on the industrial sector and arms production. In this regard, the company Škoda Works, the largest arms manufacturer, serves as an illustrative case study. The measures affected the Protectorate industry, which was completely restructured based on the needs...

Nová kniha o mezinárodní měnové a finanční stabilitě

Jana Marková

Politická ekonomie 2021, 69(3):382-390 | DOI: 10.18267/j.polek.1315