Ján Lisý - RENESANCIA EKONÓMIE STRANY DOPYTU 70 ROKOV PO SMRTI J. M. KEYNESA? Renaissance of the demand-oriented economics seventy years after J. M. Keynes’ death?)
Abstract: In the year 2016 seventy years passed from the death of J. M. Keynes and eighty years since the publication of his most important work “The General Theory of Employment, Interest and Money”. Immediately after its publication, this work raised numerous disputes and discussions, which have continued to date. It was aperiod in which two mainstreams of economics known as the neo-classical synthesis overlapped. Despite polemical a and critical opinions of Keynes’ teaching, he can be considered to be the most significant and most frequently cited twentieth century economist. Even today, it appears that Keynes’ theory is the subject of further development, improvement andupdating to contemporary conditions and problems of a globalising world economy.
Keywords: effective demand, savings, investments, macroeconomic equilibrium
JEL Classification: P 16, D 46
str./pp. 405-419
Ľuboš Pavelka – Peter Krchnák – Sergey Aslanyan - INFLUENCE OF THE FINANCIAL AND ECONOMIC CRISIS ON THE DEVELOPMENT OF MACROECONOMIC PARAMETERS OF ECONOMIES IN THE CZECH REPUBLIC, SLOVAKIA AND AUSTRIA SINCE 2008 TILL 2015 (Vplyv finančnej a hospodárskej krízy na rozvoj makroekonomických parametrov v ekonomike Českej republiky, Slovenska a Rakúska od r. 2008 do r. 2015)
Abstract: A mortgage crisis that later hit the real economy, erupted in the United States in 2007. With a two-year delay, the crisis came to the EU as a result of the interconnectedness of the European Union’s and USA’s economies. Economies of the EU member states experienced a severe recession in 2009 and the effects of the said crisis are still visible today. The consequences manifest themselves in far lower GDP average growth rates, very low inflation rates (even deflation in Slovakia), stagnating consumption and higher sovereign debt. This paper focuses on the comparative analysis of selected macroeconomic parameters of three neighbouring countries: the Czech Republic, the Slovak Republic and Austria. Macroeconomic indicators analyzed and compared in this paper are the GDP elements, i.e. capital creation, consumption of government, consumptions of households, and exports/imports. Further, this article compares the GDP as a whole, inflation, unemployment, and the government debt.
Keywords: GDP, debt, crisis, inflation, unemployment
JEL Classification: E 00, E 01
str./pp. 420-439
Július Alexy - EKONOMIKA ZMIEN AINOVÁCIE VPROCESE TVORBY HODNOTY A KONKURENCIESCHOPNOSTI (Economy of Change and Innovations in the Value Creation Process and in Competitiveness)
Abstract: The paper focuses on new indicators of the economic growth and the competitiveness of the Slovak economy in the markets of EU and the third countries. Introduction of new capital assets and increase in the quality of the labour force are important determinants. Consequently, the creation of supportive conditions for the development of firms’ innovations and the rise of the significance of human factor within the production process are key factors of the growth and competitiveness of the economy.
Keywords: innovative development, creativity, modelling of education, science and innovation process
JEL Classification: O 30
str./pp. 439-462
Iryna Yeleyko – Olha Ryndzak -UKRAINIAN IMMIGRANTS IN PORTUGUESE LABOUR MARKET Ukrajinskí prisťahovalci na portugalskom trhu práce)
Abstract: The paper deals with the investigation of the peculiarities of labour migration to Portugal and the analysis of the place and role of Ukrainian migrants in the Portuguese labour market. The reasons for the Ukrainians’ migration to Portugal, fields of migrants’ work and migration character are also considered. Since the end of the 90th, migrants from Eastern Europe (especially from Ukraine) have become one of the three largest foreign communities in the country, together with Cape Verdeans and Brazilians. Besides, the paper presents the results of the survey of the Ukrainian immigrants’ questionnaires (persons of different age and sex) in the region of Algarve, Portugal, in spring 2015. The research is based on the qualitative data and the conclusions on specific features of labour migration from Ukraine obtained by the authors.
Keywords: migration policy, labour migration, Ukrainians’ migration, Portuguese labour market, immigration
JEL Classification: F 22, J 40, J 6
str./pp. 463-477
Olena Ovchinnikova - CLUSTER ANALYSIS IN THE STUDY OF MIGRATION (Klastrová analýza v štúdiu migrácie)
Abstract: The article covers the application of cluster analysis methods in the study of external population movements in the Khmelnytskyi region, which allowed to reveal the features of migration processes in the region’s districts and group them by similar characteristics. Cluster analysis is a method of multivariate statistical analysis, which includes data collection containing information about the sample objects, and organizes them into relatively homogeneous and similar groups. Migration process is akind of demographic and demo-economic “investment” in recipient regions and, conversely, it causes ageing and deterioration of labour resource capacity in donor regions. Thus, information about the migratory clusters should help regional managers carry out immigration policy. Therefore, the application of cluster analysis in the study on management of migration is a relevant investigation today.
Keywords: migration, external displacement, cluster analysis, territory, region, Euclidean distance
JEL Classification: C 50, C 82, J 61, R 10, F 22
str./pp. 478-491
Eva Muchová – Peter Leško - TEORETICKÉ VYMEDZENIE MODELU RASTU ZALOŽENÉHO NA OBMEDZENIACH PLATOBNEJ BILANCIE(Theoretical Concept of the Balance-of-Payments Constrained Growth Model )
Abstract: The balance of payments can act as a constraint on the output growth rate, since it puts a limit on the growth of demand. The aim of this paper is to clarify the Post-Keynesian approach to the Balance-of-Payments-constrained growth by so-called Thirlwall Law. According to Thirlwall’s Law, the balance of payments equilibrium growth rate of an economy can be determined by the ratio of the income elasticities of the demand for exports and imports and the growth of foreign demand. The theoretical concept of Balance-of-Payments-constrained growth model is analyzed. Finally, its different modifications, especially multi-sector version as an alternative approach that considers the structure of the economy are described.
Keywords: Balance-of-Payments-constrained growth, Thirlwall’s Law, sectoral structure
JEL Classification: E 12, F 43
str./pp. 492-507
Andrea Kaderová – Michal Páleš - KONŠTRUKCIA OPTIMÁLNEHO PORTFÓLIA SO STANOVENÝM KONŠTANTNÝM VÝNOSOM(Construction of Optimal Portfolio with Determined Constant Yield)
Abstract: The practical application of the portfolio theory model apparatus depends, apart from mathematical and statistical tools as in particular linear algebra, correlation analysis and probability theory, also on the availability of tools for effective solution to specific tasks related to the selection of portfolio. This instrument can be for instance an appropriately selected software. Mathematically, these tasks are mainly of convex quadratic programming, which can be solved algebraically or numerically. In this paper, we use the R language in the implementation process of algebraic solution to the problem of optimal portfolio construction.
Keywords: portfolio theory, expected return, variance of portfolio, diversification
JEL Classification: G 11, C 61
str./pp. 508-516
