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

Suche

Volumen 17 (2017): Heft 3 (September 2017)

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

Suche

6 Artikel
Uneingeschränkter Zugang

Peer Effects and Youth Smoking in the European Global Youth Tobacco Survey

Online veröffentlicht: 23 Sep 2017
Seitenbereich: 219 - 238

Zusammenfassung

Abstract

This paper investigates the effect of peer smoking on individual smoking among youths in 10 countries that participated in the European Global Youth Tobacco Survey (GYTS). I control for endogeneity in school selection and unobserved school-level characteristics through the use of school fixed-effects. I use instrumental variables to address the simultaneity in peer and individual behaviours. Identification arises by comparing students in different classes within the same school. On average, an increase in the share of classmates who smoke by 10 percentage points increases the probability that an individual in that class will smoke by 3 to 6.9 percentage points. The results imply that any policy intervention such as anti-smoking messages, smoking bans, or higher cigarette prices will be even more cost-effective because of the social multiplier effect of peers – policies affecting some individuals in a group will generate spillovers to others through the peer effect.

Schlüsselwörter

  • adolescent smoking
  • European youths
  • peer effects
  • substance use

JEL Classification

  • I12
  • D1
Uneingeschränkter Zugang

Characteristics of the innovation activities of firms in Europe: a critical review of international differences

Online veröffentlicht: 23 Sep 2017
Seitenbereich: 239 - 262

Zusammenfassung

Abstract

A sample of 18 papers and 32 data sets revealed 210,404 firm level observations about European firms making decisions about innovation. A total of 66,965 observations describe activities of innovators between 1986 and 2008. This paper used a basic literature review to assess properties of innovation among quite rare full CDM (Crépon, Duguet, and Mairesse) papers. This study compared results from two systems of estimation and showed that both international and regional comparisons are rather problematic because of different definitions of innovation variables and data set representativeness. On average, a typical firm that engaged in innovation was a large firm competing in international markets in the sample of firms with 20+ employees. Smaller firms, however, invested more in research and development (R&D) and no linear relationship was found for output characteristics. Cooperation on R&D projects increased overall innovation intensity. There is strong evidence that public funding had an ambiguous effect on R&D spending and no additional effect on innovation output on average. This output measured by sales from innovated goods and services was on average in a positive relationship with labour productivity; however, a detailed view suggested this effect was present only in product innovation. In this paper, it is shown that results of innovation studies cannot be compared or used in research without deeper analysis of the data sample (micro companies, industries, active firms, entrants etc.), dependent variable (innovator, R&D expenditures, sales, productivity, new product, new service etc.) and the baseline company that is defined by independent variables.

Schlüsselwörter

  • Innovation
  • Europe
  • attributes
  • properties
  • decision to innovate
  • expenditures
  • value added

JEL Classification

  • O33
  • L60
  • D24
  • O38
Uneingeschränkter Zugang

Determinants of SME Finance: Evidence from Three Central European Countries

Online veröffentlicht: 23 Sep 2017
Seitenbereich: 263 - 285

Zusammenfassung

Abstract

This paper explores the determinants of access to finance for small and medium enterprises (SMEs) in the context of three Central European countries: Czech Republic, Slovak Republic, and Hungary. The data set of the research is obtained from the BEEPS survey, which is conducted by the World Bank and the European Bank for Reconstruction and Development. This paper empirically analyses firms not only from the SMEs point of view, but also shows results for micro, small and medium enterprises separately. Additionally, we have analysed the determinants of access to finance for SMEs at each country level for an in-depth understanding of country-level variations in SME financing. The results indicate that micro firms and firms owned and operated by women are experiencing a shortage of credits from banks. On the other hand, we found a positive relationship between the pledge of collateral and access to finance. With respect to the medium firms, we found evidence that innovative firms have a larger amount of credit from banks. The empirical results also suggest that the loan size increases as the interest rates increase in particular for SMEs on the whole and for micro-firms, although the interest rate is in a negative relationship with the loan size in Czech Republic.

Schlüsselwörter

  • Access to finance
  • SMEs
  • Czech Republic
  • Slovak Republic
  • Hungary

JEL Classification

  • G21
  • O16
Uneingeschränkter Zugang

A DSGE Model of Slovakia with Frictional Labor Market and Monetary Regime Switch

Online veröffentlicht: 23 Sep 2017
Seitenbereich: 287 - 313

Zusammenfassung

Abstract

The aim of this paper is to examine the dynamical and structural characteristics of Slovakia using a dynamic stochastic general equilibrium model augmented with search and matching mechanisms and other forms of frictions. I implement a switching mechanism to account for the monetary regime change in Slovakia in 2009. My focus lies in the investigation of labor market rigidities that affect the macroeconomic variables. I also examine the long term impact of the recession in 2009 on the Slovak economy. My findings are as follows. Firstly, based on parameter estimates, I identify significant labor market frictions present in the Slovak Republic. Secondly, my results capturing the historical evolution of key macroeconomic variables support the view that the recession in the examined small open economy was mainly caused by shocks originating in the foreign sector. Thirdly, the monetary authority can influence the labor market variables through its transmission channels relatively effectively; and lastly, I discovered that the recession decreased the Slovak economy’s flexibility. While the results of estimations on two sub-samples are quite similar for most of the structural parameters, an increase in price and wage stickiness is observable.

Schlüsselwörter

  • DSGE model
  • labor market
  • search and matching
  • Slovakia
  • small open economy
  • rigidity
  • unemployment

JEL Classification

  • C51
  • E24
  • E52
  • J60
Uneingeschränkter Zugang

Determinants of the Shadow Economy in the Czech Regions: A Region-Level Study

Online veröffentlicht: 23 Sep 2017
Seitenbereich: 315 - 329

Zusammenfassung

Abstract

This paper investigates the size and development of the shadow economy in the Czech Republic on the state-level base over the 2005-2014 period. The multiple indicators multiple causes (MIMIC) model is used to assess the estimation of the shadow economy size. I investigate how labour market, number of people with at least one distraint, and the burden of taxation might contribute to the existence of the shadow economy. While the former two are important determinants of the shadow economy, I find no evidence to prove any significant impact of distraints on the shadow economy size. As for the country’s particular regions, I find that those surrounding big cities, especially Prague, have, on average, a smaller shadow economy size, whereas regions in the borderlands (former Sudetenland) suffer from a larger shadow economy.

Schlüsselwörter

  • Shadow Economy
  • MIMIC Model
  • Regions
  • Tax Burden

JEL Classification

  • O17
  • H26
Uneingeschränkter Zugang

Regional terminals on high-speed lines: to build or not to build? A report from the 11th Telč seminar 2016

Online veröffentlicht: 23 Sep 2017
Seitenbereich: 331 - 334

Zusammenfassung

6 Artikel
Uneingeschränkter Zugang

Peer Effects and Youth Smoking in the European Global Youth Tobacco Survey

Online veröffentlicht: 23 Sep 2017
Seitenbereich: 219 - 238

Zusammenfassung

Abstract

This paper investigates the effect of peer smoking on individual smoking among youths in 10 countries that participated in the European Global Youth Tobacco Survey (GYTS). I control for endogeneity in school selection and unobserved school-level characteristics through the use of school fixed-effects. I use instrumental variables to address the simultaneity in peer and individual behaviours. Identification arises by comparing students in different classes within the same school. On average, an increase in the share of classmates who smoke by 10 percentage points increases the probability that an individual in that class will smoke by 3 to 6.9 percentage points. The results imply that any policy intervention such as anti-smoking messages, smoking bans, or higher cigarette prices will be even more cost-effective because of the social multiplier effect of peers – policies affecting some individuals in a group will generate spillovers to others through the peer effect.

Schlüsselwörter

  • adolescent smoking
  • European youths
  • peer effects
  • substance use

JEL Classification

  • I12
  • D1
Uneingeschränkter Zugang

Characteristics of the innovation activities of firms in Europe: a critical review of international differences

Online veröffentlicht: 23 Sep 2017
Seitenbereich: 239 - 262

Zusammenfassung

Abstract

A sample of 18 papers and 32 data sets revealed 210,404 firm level observations about European firms making decisions about innovation. A total of 66,965 observations describe activities of innovators between 1986 and 2008. This paper used a basic literature review to assess properties of innovation among quite rare full CDM (Crépon, Duguet, and Mairesse) papers. This study compared results from two systems of estimation and showed that both international and regional comparisons are rather problematic because of different definitions of innovation variables and data set representativeness. On average, a typical firm that engaged in innovation was a large firm competing in international markets in the sample of firms with 20+ employees. Smaller firms, however, invested more in research and development (R&D) and no linear relationship was found for output characteristics. Cooperation on R&D projects increased overall innovation intensity. There is strong evidence that public funding had an ambiguous effect on R&D spending and no additional effect on innovation output on average. This output measured by sales from innovated goods and services was on average in a positive relationship with labour productivity; however, a detailed view suggested this effect was present only in product innovation. In this paper, it is shown that results of innovation studies cannot be compared or used in research without deeper analysis of the data sample (micro companies, industries, active firms, entrants etc.), dependent variable (innovator, R&D expenditures, sales, productivity, new product, new service etc.) and the baseline company that is defined by independent variables.

Schlüsselwörter

  • Innovation
  • Europe
  • attributes
  • properties
  • decision to innovate
  • expenditures
  • value added

JEL Classification

  • O33
  • L60
  • D24
  • O38
Uneingeschränkter Zugang

Determinants of SME Finance: Evidence from Three Central European Countries

Online veröffentlicht: 23 Sep 2017
Seitenbereich: 263 - 285

Zusammenfassung

Abstract

This paper explores the determinants of access to finance for small and medium enterprises (SMEs) in the context of three Central European countries: Czech Republic, Slovak Republic, and Hungary. The data set of the research is obtained from the BEEPS survey, which is conducted by the World Bank and the European Bank for Reconstruction and Development. This paper empirically analyses firms not only from the SMEs point of view, but also shows results for micro, small and medium enterprises separately. Additionally, we have analysed the determinants of access to finance for SMEs at each country level for an in-depth understanding of country-level variations in SME financing. The results indicate that micro firms and firms owned and operated by women are experiencing a shortage of credits from banks. On the other hand, we found a positive relationship between the pledge of collateral and access to finance. With respect to the medium firms, we found evidence that innovative firms have a larger amount of credit from banks. The empirical results also suggest that the loan size increases as the interest rates increase in particular for SMEs on the whole and for micro-firms, although the interest rate is in a negative relationship with the loan size in Czech Republic.

Schlüsselwörter

  • Access to finance
  • SMEs
  • Czech Republic
  • Slovak Republic
  • Hungary

JEL Classification

  • G21
  • O16
Uneingeschränkter Zugang

A DSGE Model of Slovakia with Frictional Labor Market and Monetary Regime Switch

Online veröffentlicht: 23 Sep 2017
Seitenbereich: 287 - 313

Zusammenfassung

Abstract

The aim of this paper is to examine the dynamical and structural characteristics of Slovakia using a dynamic stochastic general equilibrium model augmented with search and matching mechanisms and other forms of frictions. I implement a switching mechanism to account for the monetary regime change in Slovakia in 2009. My focus lies in the investigation of labor market rigidities that affect the macroeconomic variables. I also examine the long term impact of the recession in 2009 on the Slovak economy. My findings are as follows. Firstly, based on parameter estimates, I identify significant labor market frictions present in the Slovak Republic. Secondly, my results capturing the historical evolution of key macroeconomic variables support the view that the recession in the examined small open economy was mainly caused by shocks originating in the foreign sector. Thirdly, the monetary authority can influence the labor market variables through its transmission channels relatively effectively; and lastly, I discovered that the recession decreased the Slovak economy’s flexibility. While the results of estimations on two sub-samples are quite similar for most of the structural parameters, an increase in price and wage stickiness is observable.

Schlüsselwörter

  • DSGE model
  • labor market
  • search and matching
  • Slovakia
  • small open economy
  • rigidity
  • unemployment

JEL Classification

  • C51
  • E24
  • E52
  • J60
Uneingeschränkter Zugang

Determinants of the Shadow Economy in the Czech Regions: A Region-Level Study

Online veröffentlicht: 23 Sep 2017
Seitenbereich: 315 - 329

Zusammenfassung

Abstract

This paper investigates the size and development of the shadow economy in the Czech Republic on the state-level base over the 2005-2014 period. The multiple indicators multiple causes (MIMIC) model is used to assess the estimation of the shadow economy size. I investigate how labour market, number of people with at least one distraint, and the burden of taxation might contribute to the existence of the shadow economy. While the former two are important determinants of the shadow economy, I find no evidence to prove any significant impact of distraints on the shadow economy size. As for the country’s particular regions, I find that those surrounding big cities, especially Prague, have, on average, a smaller shadow economy size, whereas regions in the borderlands (former Sudetenland) suffer from a larger shadow economy.

Schlüsselwörter

  • Shadow Economy
  • MIMIC Model
  • Regions
  • Tax Burden

JEL Classification

  • O17
  • H26
Uneingeschränkter Zugang

Regional terminals on high-speed lines: to build or not to build? A report from the 11th Telč seminar 2016

Online veröffentlicht: 23 Sep 2017
Seitenbereich: 331 - 334

Zusammenfassung

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