Politická ekonomie, 2023 (vol. 71), issue 2

How Do Productivity Benefits Spill Over Across Firms? Explorations in a Heterogeneous Firm Applied General Equilibrium Trade Model

Gouranga G. Das, Zeynep Akgul, Badri G. Narayanan

Politická ekonomie 2023, 71(2):104-129 | DOI: 10.18267/j.polek.1382  

Considerable diffusion of technology occurs via global trade and foreign direct investment (FDI) while firm heterogeneities cause considerable production heterogeneities. Hi-tech products and investment goods of differentiated varieties from emerging and developed economies are vehicles of superior technology. Given this stylized evidence, we analyse factors facilitating (or inhibiting) technological spillover to domestic firms in the host nations in a counterfactual scenario of a Trans-Pacific-Partnership (TPP) deal. By using a mixture interface of global computable general equi-librium (CGE) models of FDI (GTAP-FDI) and firm heterogeneity...

Human Development Index: Changes in East Central Europe, 1913-2010

Stanislav Holubec, Béla Tomka

Politická ekonomie 2023, 71(2):130-152 | DOI: 10.18267/j.polek.1378  

Studies on the long-term trends of quality of life, and more specifically, the Human Development Index (HDI), have thus far largely neglected East Central Europe, and the existing scholarship tends to be fragmented. The paper seeks to address these shortcomings in research by investigating the trends of the HDI in Poland, Czechoslovakia and its successor states, Czechia and Slovakia, as well as Hungary between 1913 and 2010 within a broader international context. The analysis is based on a new data set developed by the authors. The results demonstrate that the HDI performance of the later decades of state socialism was more moderate than it is commonly...

Empirická verifikace vztahu mezi saldem hospodaření sektoru vládních institucí a běžného účtu platební bilance: Případ zemí Evropské unie

Verification of Relationship Between General Government and Current Account Balances: An Example of EU Countries

Kateřina Šímová

Politická ekonomie 2023, 71(2):153-176 | DOI: 10.18267/j.polek.1381  

The article focuses on the relationship between the general government balance and the current account of the balance of payments. The aim is to summarize the existing knowledge about the relationship based on the twin deficit theory and to carry out an empirical verification. As part of the analysis, the Granger causality method is first applied to each EU country separately, and then the threshold panel regression method is used. For the subsequent estimation of the threshold panel model, the direction of the relationship from the general government balance to the current account is considered based on the results of Granger causality. Within the...

Potenciální produkt a mezera výstupu v období ekonomických krizí

Potential Output and Output Gap in a Period of Economic Crises

Andrea Čížků

Politická ekonomie 2023, 71(2):177-198 | DOI: 10.18267/j.polek.1380  

The article investigates potential output and output gap modelling and estimation in the Czech Republic in the period 1996-2021, including the global recession from 2008 and the recent crisis caused by government measures against the COVID-19 pandemic. The unobserved components (UC) methodology is applied, coefficients are estimated by the maximum likelihood method, unobserved variables are estimated using the Kalman filter. The standard UC model is modified in an original way to nonlinearly describe the hysteresis effect by allowing the output gap to have an asymmetrical influence on potential output. The econometric model verification proved significance...

Několik statisticko-analytických poznámek k charakteru krize 2020-2021

Some Statistical and Analytical Notes on the Nature of the 2020–2021 Crisis

Eva Kislingerová

Politická ekonomie 2023, 71(2):199-225 | DOI: 10.18267/j.polek.1384  

The present work is based on a hypothesis that the Czech economy was showing signs of economic deceleration and a potential slump into deeper growth problems way before the outbreak of the COVID-19 pandemic, i.e., at least in the year 2019. However, the present text does not intend to thoroughly confirm this hypothesis because in order to do so, a longer timeline of key economic indicators needs to be analysed. What it does present is at least a partial argumentation supporting the abovementioned hypothesis and some basic calculations. It proposes two ways towards its confirmation. The first one is a comparative analysis of individual - especially...

Nositelé Nobelovy ceny za ekonomii pro rok 2022

Pavel Sirůček, Jaroslav Šetek

Politická ekonomie 2023, 71(2):226-237 | DOI: 10.18267/j.polek.1383