Politická ekonomie, 2023 (vol. 71), issue 3

Articles

What Drives Inflation in High-inflation Countries? Evidence from Haiti, Sudan, Türkiye and Zambia

Mehmet Mucuk, Sümeyra Evren

Politická ekonomie 2023, 71(3):238-266 | DOI: 10.18267/j.polek.1385

The main purpose of this paper is to investigate the long-term effects of money supply, economic growth, interest rate, exchange rate, domestic credits and the oil price on inflation in Haiti, Sudan, Türkiye and Zambia, which are among the world’s highest-inflation countries according to 2021 data. For this purpose, a panel cointegration approach is applied where fully modified ordinary least squares (FMOLS) and dynamic ordinary least squares (DOLS) techniques are employed to explore the long-term effects with the help of annual data for the period 2000–2019. Also, the Dumitrescu and Hurlin panel causality test is used to determine...

Regional Migration in the Czech Republic: Economic Factors Are the Key

Daniel Pakši, Jakub Vontroba, Milan Šimek

Politická ekonomie 2023, 71(3):267-290 | DOI: 10.18267/j.polek.1386

This article aims to determine and evaluate factors influencing migration behaviour and decision to migrate in 14 regions of the Czech Republic in the periods 1995–2018 and 2004–2018 (after the accession to the EU). The panel data analysis conducted mostly confirms our hypotheses on the impact of the analysed factors, confirming the impact of GDP growth, number of job listings at Labour Offices, number of job applicants, employment in industry and number of finished dwellings. The exceptions are the variables for the crime rate and number of college students in the region, where we found a positive but barely statistically significant...

Determinants of Non-maturing Deposit Pass-through Rates in Eurozone Countries

Milan Fičura, Jiří Witzany

Politická ekonomie 2023, 71(3):291-318 | DOI: 10.18267/j.polek.1388

The non-maturing deposit (NMD) pass-through rate represents a key parameter needed in the process of managing interest rate risk of the banking book (IRRBB). NMD interest rates for retail and corporate segments are usually not directly linked to market interest rates, but depend rather on the bank’s marketing strategy, market competition, liquidity, and possibly on other factors. The ratio at which banks adjust their NMD interest rates to changes in interbank market interest rates is known as the NMD pass-through rate. The goal of this paper is to analyse the variability of NMD pass-through rates in the 19 Eurozone countries and identify...

Multiscale Interdependence Between Consumer and Producer Prices in Emerging Eastern European Countries

Dejan Živkov, Jasmina Đurašković, Sanja Ljubenović

Politická ekonomie 2023, 71(3):319-341 | DOI: 10.18267/j.polek.1390

This paper investigates multiscale causal relations between consumer and producer prices in eight emerging Eastern European countries. We use wavelet coherence to measure the multiscale nexus between inflation types, and wavelet-based Bayesian quantile regression (BQR) to inspect the spillover effect. Wavelet coherence plots indicate low coherence in the short time horizon (up to two months) and higher coherence in the longer time horizons, particularly from four mounts onwards. Areas of very high coherence are found around the Global Financial Crisis and the COVID-19 pandemic. Bidirectional spillover effect exists in all the countries except Poland...

Effect of Economic Complexity on Unemployment in Terms of Gender: Evidence from BEM Economies

Semanur Soyyiğit, Seda Bayrakdar, Cüneyt Kiliç

Politická ekonomie 2023, 71(3):342-365 | DOI: 10.18267/j.polek.1392

The present study aims to indicate whether structural transformation has provided enhancement for the disadvantaged parts of society in terms of gender or whether it has been implemented at the expense of social inequalities in 10 BEM (Big Emerging Market) economies (Argentina, Brazil, China, India, Indonesia, Mexico, Poland, South Africa, South Korea and Türkiye) in the period 1998–2019. The study also aims to understand the dynamics behind the connection between structural transformation and unemployment by comparing the results from each country. This paper also focuses on the effects of economic complexity on the breakdown of unemployment...