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Zeitschriftendaten
Format
Zeitschrift
eISSN
1804-1663
Erstveröffentlichung
19 Feb 2010
Erscheinungsweise
4 Hefte pro Jahr
Sprachen
Englisch

Suche

Volumen 16 (2016): Heft 4 (December 2016)

Zeitschriftendaten
Format
Zeitschrift
eISSN
1804-1663
Erstveröffentlichung
19 Feb 2010
Erscheinungsweise
4 Hefte pro Jahr
Sprachen
Englisch

Suche

6 Artikel
Uneingeschränkter Zugang

GDP growth and convergence determinants in the European Union: a crisp-set analysis

Online veröffentlicht: 17 Dec 2016
Seitenbereich: 279 - 296

Zusammenfassung

Abstract

Economic growth and convergence remains a topical issue. This study uses a crisp-set qualitative comparative analysis of data from European Union countries in order to establish which conditions could be considered necessary and sufficient to make these countries converge. Based on six different conditions (GDP, secondary education, life expectancy, fertility rate, government consumption and inflation rate), this study finds that the main conditions affecting convergence are government consumption ratio (lower levels will increase convergence), education levels and life expectancy (both with a positive influence on convergence). The first two conditions show quite interesting results: in fact, reduction of government expenditure and budget constraints are an open debate; and the European Union’s aim to become a more competitive economy can only be attained with higher levels of education.

Schlüsselwörter

  • Convergence
  • crisp-set qualitative comparative analysis
  • European Union
  • necessary conditions
  • sufficient conditions
Uneingeschränkter Zugang

Structural changes in the Czech, Slovak and euro area economies during the Great Recession

Online veröffentlicht: 17 Dec 2016
Seitenbereich: 297 - 336

Zusammenfassung

Abstract

The goal of this paper is to identify and compare the most important changes in the structure of the Czech economy, as a small open economy with independent monetary policy, the Slovak economy, as a small open economy that entered monetary union, and the economy of the euro area, which has a common monetary policy, during the turbulent period of the Great Recession, the subsequent anaemic recovery and recent disinflationary period. Structural changes are identified with the help of nonlinear dynamic stochastic models of general equilibrium with time-varying parameters. The model parameters are estimated using Bayesian methods and a nonlinear particle filter. The results confirm the similarity of the Czech and Slovak economies and show that in certain respects the structure of the Czech economy might be closer to that of the euro area than that of Slovakia. The time-varying estimates reveal many similarities between the parameter changes in the Czech economy and those in the euro area. In Slovakia, the situation during the Great Recession was dominated by the country’s adoption of the euro, which caused large deviations in its Calvo parameters.

Schlüsselwörter

  • DSGE model
  • Great Recession
  • monetary union
  • time-varying parameters
  • particle filter
Uneingeschränkter Zugang

Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) as Social Safety Net: Analysis of Public Works in Odisha, India

Online veröffentlicht: 17 Dec 2016
Seitenbereich: 337 - 360

Zusammenfassung

Abstract

Social safety nets are transfers targeted to the poor or vulnerable. They facilitate access to health and education services to build human capital. To achieve the Sustainable Development Goals (earlier known as Millennium Development Goals), national and state governments as well as international organisations have focused on increasing the investments in social transfer programmes. Public works are the policy instruments for mitigating the negative effects of climatic and systematic risks on poor farmers and unskilled and semi-skilled workers. The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) is the largest social protection programme in the world that provides 100 days of unskilled wage employment to any household residing in rural areas whose adult members volunteer to do unskilled manual work. In the state of Odisha the MGNREGA scheme is widely implemented. However, the irregularities involved in the implementation of this social protection programme are of great concern. The present study focuses on the implementation of MGNREGA in three districts of western Odisha. The study has tried to identify the bottleneck in the success of MGNREGA scheme.

Schlüsselwörter

  • MGNREGA Scheme
  • Public Works
  • Social Safety Net
  • Workfare
Uneingeschränkter Zugang

Efficiency of Mergers of Mechanical Engineering Companies in the Czech Republic

Online veröffentlicht: 17 Dec 2016
Seitenbereich: 361 - 374

Zusammenfassung

Abstract

This paper presents the research results in the field of the efficiency of mergers and acquisitions in the mechanical engineering industry of the Czech Republic. The aim of this paper is to determine whether mergers taking place in mechanical engineering are successful, or possibly to identify factors which may be deemed as synergies sources. In our research, the success rate of mergers is identified on the basis of the increasing revenues and operating profit. It has been established that out of mergers completed in 2004 - 2011, success has been achieved in approximately half of them. For this reason, we have focused on identifying the factors which may serve as the reasons for such a difference. The selected indicators of the cost-to-revenue ratio and utilization of fixed assets, investments, and net working capital we analysed before and after the mergers in both groups of successful and unsuccessful mergers. The Mann-Whitney U test was used to test the results. The research results have demonstrated that synergies are not achieved due to the change in the market power of the merged companied but owing to operational efficiency which is reflected in a drop in labour costs and depreciation to revenues ratios and increasing asset utilization.

Schlüsselwörter

  • Cost efficiency
  • Investment in fixed assets and net working capital
  • Mann- Whitney U test
  • Mergers in mechanical engineering
  • Operating synergies
Uneingeschränkter Zugang

Gender Disparities, Labor Force Participation and Transfer Payment: What Do Macro Data Say?

Online veröffentlicht: 17 Dec 2016
Seitenbereich: 375 - 387

Zusammenfassung

Abstract

This paper analyzes the relationship between government transfer payments and labor force participation rates for a sample of 34 countries over the period of 1995- 2012. We benefit from two step system Generalized Method of Moments as a methodology and thereby eliminate the biases that may arise from endogenous variables. Our econometric results also confirm the employment of the dynamic methodology. First, we estimate the coefficients for overall population and then we re-estimate the coefficients for different genders. As a result of our estimations we observe that the significances and the values of coefficients increase when we employ labor force participation rates of females as dependent variable. Therefore, our findings suggest that transfer payments are more effective in working decisions of females.

Schlüsselwörter

  • fiscal policy
  • gender
  • transfer payments
Uneingeschränkter Zugang

Competitive Tendering in Public Transport – Opportunities and Risks. Report from the 10th Telč Seminar 2015

Online veröffentlicht: 17 Dec 2016
Seitenbereich: 389 - 394

Zusammenfassung

6 Artikel
Uneingeschränkter Zugang

GDP growth and convergence determinants in the European Union: a crisp-set analysis

Online veröffentlicht: 17 Dec 2016
Seitenbereich: 279 - 296

Zusammenfassung

Abstract

Economic growth and convergence remains a topical issue. This study uses a crisp-set qualitative comparative analysis of data from European Union countries in order to establish which conditions could be considered necessary and sufficient to make these countries converge. Based on six different conditions (GDP, secondary education, life expectancy, fertility rate, government consumption and inflation rate), this study finds that the main conditions affecting convergence are government consumption ratio (lower levels will increase convergence), education levels and life expectancy (both with a positive influence on convergence). The first two conditions show quite interesting results: in fact, reduction of government expenditure and budget constraints are an open debate; and the European Union’s aim to become a more competitive economy can only be attained with higher levels of education.

Schlüsselwörter

  • Convergence
  • crisp-set qualitative comparative analysis
  • European Union
  • necessary conditions
  • sufficient conditions
Uneingeschränkter Zugang

Structural changes in the Czech, Slovak and euro area economies during the Great Recession

Online veröffentlicht: 17 Dec 2016
Seitenbereich: 297 - 336

Zusammenfassung

Abstract

The goal of this paper is to identify and compare the most important changes in the structure of the Czech economy, as a small open economy with independent monetary policy, the Slovak economy, as a small open economy that entered monetary union, and the economy of the euro area, which has a common monetary policy, during the turbulent period of the Great Recession, the subsequent anaemic recovery and recent disinflationary period. Structural changes are identified with the help of nonlinear dynamic stochastic models of general equilibrium with time-varying parameters. The model parameters are estimated using Bayesian methods and a nonlinear particle filter. The results confirm the similarity of the Czech and Slovak economies and show that in certain respects the structure of the Czech economy might be closer to that of the euro area than that of Slovakia. The time-varying estimates reveal many similarities between the parameter changes in the Czech economy and those in the euro area. In Slovakia, the situation during the Great Recession was dominated by the country’s adoption of the euro, which caused large deviations in its Calvo parameters.

Schlüsselwörter

  • DSGE model
  • Great Recession
  • monetary union
  • time-varying parameters
  • particle filter
Uneingeschränkter Zugang

Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) as Social Safety Net: Analysis of Public Works in Odisha, India

Online veröffentlicht: 17 Dec 2016
Seitenbereich: 337 - 360

Zusammenfassung

Abstract

Social safety nets are transfers targeted to the poor or vulnerable. They facilitate access to health and education services to build human capital. To achieve the Sustainable Development Goals (earlier known as Millennium Development Goals), national and state governments as well as international organisations have focused on increasing the investments in social transfer programmes. Public works are the policy instruments for mitigating the negative effects of climatic and systematic risks on poor farmers and unskilled and semi-skilled workers. The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) is the largest social protection programme in the world that provides 100 days of unskilled wage employment to any household residing in rural areas whose adult members volunteer to do unskilled manual work. In the state of Odisha the MGNREGA scheme is widely implemented. However, the irregularities involved in the implementation of this social protection programme are of great concern. The present study focuses on the implementation of MGNREGA in three districts of western Odisha. The study has tried to identify the bottleneck in the success of MGNREGA scheme.

Schlüsselwörter

  • MGNREGA Scheme
  • Public Works
  • Social Safety Net
  • Workfare
Uneingeschränkter Zugang

Efficiency of Mergers of Mechanical Engineering Companies in the Czech Republic

Online veröffentlicht: 17 Dec 2016
Seitenbereich: 361 - 374

Zusammenfassung

Abstract

This paper presents the research results in the field of the efficiency of mergers and acquisitions in the mechanical engineering industry of the Czech Republic. The aim of this paper is to determine whether mergers taking place in mechanical engineering are successful, or possibly to identify factors which may be deemed as synergies sources. In our research, the success rate of mergers is identified on the basis of the increasing revenues and operating profit. It has been established that out of mergers completed in 2004 - 2011, success has been achieved in approximately half of them. For this reason, we have focused on identifying the factors which may serve as the reasons for such a difference. The selected indicators of the cost-to-revenue ratio and utilization of fixed assets, investments, and net working capital we analysed before and after the mergers in both groups of successful and unsuccessful mergers. The Mann-Whitney U test was used to test the results. The research results have demonstrated that synergies are not achieved due to the change in the market power of the merged companied but owing to operational efficiency which is reflected in a drop in labour costs and depreciation to revenues ratios and increasing asset utilization.

Schlüsselwörter

  • Cost efficiency
  • Investment in fixed assets and net working capital
  • Mann- Whitney U test
  • Mergers in mechanical engineering
  • Operating synergies
Uneingeschränkter Zugang

Gender Disparities, Labor Force Participation and Transfer Payment: What Do Macro Data Say?

Online veröffentlicht: 17 Dec 2016
Seitenbereich: 375 - 387

Zusammenfassung

Abstract

This paper analyzes the relationship between government transfer payments and labor force participation rates for a sample of 34 countries over the period of 1995- 2012. We benefit from two step system Generalized Method of Moments as a methodology and thereby eliminate the biases that may arise from endogenous variables. Our econometric results also confirm the employment of the dynamic methodology. First, we estimate the coefficients for overall population and then we re-estimate the coefficients for different genders. As a result of our estimations we observe that the significances and the values of coefficients increase when we employ labor force participation rates of females as dependent variable. Therefore, our findings suggest that transfer payments are more effective in working decisions of females.

Schlüsselwörter

  • fiscal policy
  • gender
  • transfer payments
Uneingeschränkter Zugang

Competitive Tendering in Public Transport – Opportunities and Risks. Report from the 10th Telč Seminar 2015

Online veröffentlicht: 17 Dec 2016
Seitenbereich: 389 - 394

Zusammenfassung

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