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Forthcoming in the next issue 7(2)

25/06/2013

Valuing Equally the Environmental Goods in Rich and Poor Countries in a Post-Kyoto World

D. Osmani

Abstract: The optimal pollution abatement levels are found by maximizing global social welfare in a permits trade system under the constraint that environmental goods are evaluated equally in rich and poor countries. Evaluating equally environmental goods in poor and rich countries makes possible to build a relation between the income elasticity of marginal utility e and the inequality aversion parameter g (Fankhauser et al. 1997; Johansson-Stenman 2000), which narrows the variation of e for a particular value of g. As a result, smaller variation for optimal abatement levels is obtained, which allows to inspect what Post-Kyoto abatement levels for poor and rich countries respect the requirement of evaluating equally the environmental goods in rich and poor countries. One finding is that in a Post-Kyoto world, the optimal abatement levels of poor countries are always different from zero, if we aim to evaluate equally the environmental goods in poor and rich countries. Furthermore, in a permits trade system, if we increase abatement levels continually, it can happen that poor countries have to carry out higher emission reductions than rich ones.

Keywords: Cost-benefit analysis, distributional weights, global warming, welfare theory, integrated assessment modeling
JEL classification: D61, D62, D63

Education, Endogenous Human Capital, and Monetary Economic Growth with MIU Approach

W.-B. Zhang

Abstract: This study builds a monetary growth model with inflation policy and education. The model is a synthesis of the Uzawa-Lucas two-sector growth model and traditional monetary model with the money-in-utility (MIU) approach. We show how money, physical capital and human capital interact over time under exogenous inflation policy in a free market economy. The dynamics of the economy is described by three differential equations. We show that the monetary economic system has a saddle equilibrium point. We simulate motion of the economic system and carry out comparative statics analysis with regards to the monetary policy, propensities to save wealth and to receive education.

Keywords: Economic growth, MIU approach, inflation policy, physical capital, education and human capital, learning through consuming
JEL classification: I25, O41, E50

Comprehensive Approximate Sequential Tool for Public Service System Design

M. Kvet, J. Janáček

Abstract: This paper deals with the approximate approach to the p-median problem, which constitutes a background for the public service system design. The real instances are characterized by thousands of possible service center locations. The attempts at exact solving of these problems often fail due to enormous computational time or huge memory demands, when the location-allocation model is used. The presented approach uses an approximation of a common distance by some pre-determined distances given by so-called dividing points. Covering formulation of the problem enables the implementation of the solving technique in the frame of commercial optimization software to obtain near-optimal solution in a short term. As the deployment of the dividing points influences the accuracy of the solution, we have developed the sequential method of dividing point deployment. The main goal of this study is to explore the effectiveness of suggested approximate method measured by the solution accuracy in comparison to the saved computational time.

Keywords: p-median problem, approximate covering model, lower bound, sequential method
JEL classification: C61


The Czech Economic Review, Vol. 7, No. 1

23/03/2013

A new issue of the Czech Economic Review is available online. See table of contents:

Articles

Banzhaf Like Value for Games with Interval Uncertainty
L. Pusillo
The Czech Economic Review 7 (1), 5-14

Approval Voting without Faithfulness
U. Ninjbat
The Czech Economic Review 7 (1), 15-20

Investigating Differences Between the Czech and Slovak Labour Market Using a Small DSGE Model with Search and Matching Frictions
D. Němec
The Czech Economic Review 7 (1), 21-41

Outward Labour Migration in the Czech Republic, Poland and Slovakia after the EU Enlargement in 2004
W. Strielkowski, P. Filipec, M. Štefánik, K. Kowalska
The Czech Economic Review 7 (1), 42-54

Possible Modifications of the Multiple Criteria Assignment Method
A. Borovička
The Czech Economic Review 7 (1), 55-67

To view, download, or recommend a single article, click on the article title. To unsubscribe, please fill in the form in the left column (Table of Contents Alert) on the journal homepage.


Forthcoming in the next issue 7(1)

11/03/2013

Banzhaf Like Value for Games with Interval Uncertainty

L. Pusillo

Abstract: This paper focuses on the Banzhaf value for cooperative games with a finite set of players where the coalition values, expressed by the characteristic function, are compact intervals of the real numbers. We generalize the Banzhaf value for TU-cooperative games to the class of games with interval uncertainty which have many applications. Furthermore the Banzhaf like value is here characterized through some axioms.

Keywords: Cooperative situations, interval values games, Banzhaf index
JEL classification: C71

Approval Voting without Faithfulness

U. Ninjbat

Abstract: In this short paper, we analyze the implications of dropping the axiom of faithfulness in the axiomatization of approval voting, due to P. C. Fishburn. We show that a ballot aggregation function satisfies the remaining axioms (neutrality, consistency and cancellation) if and only if it is either a function that chooses the whole set of alternatives, or an approval voting, or a function that chooses the least approved alternatives.

Keywords: Approval voting, faithfulness, inverse approval voting
JEL classification: D71, D72 

Investigating Differences Between the Czech and Slovak Labour Market Using a Small DSGE Model with Search and Matching Frictions

D. Němec

Abstract: This contribution reveals some structural properties of the Czech and Slovak labour markets. A search and matching model incorporated into a small standard DSGE model is estimated using Bayesian techniques. Two sources of rigidities are implemented: wage bargaining mechanism and “search and matching” process matching workers and firms. The results show that the search and matching aspect provides satisfactory description of employment flows in both economies, and that the institutional characteristics do not differ too much in both economies. The model estimates provide interesting evidence that wage bargaining process is determined mainly by the power of firms. These results support the view of flexible wage environment in both economies. On the other hand, firms are confronted by increasing vacancy posting costs that limit vacancies creation. Relative low separation rate provides evidence of reduced mobility of the workers.

Keywords: Search and matching model, closed DSGE model, Bayesian estimation, labour market flexibility
JEL classification: C51, E24, J60  

Outward Labour Migration in the Czech Republic, Poland and Slovakia after the EU Enlargement in 2004

W. Strielkowski, P. Filipec, M. Štefánik, K. Kowalska

Abstract: This paper analyzes the outward labour migration from the Czech Republic, Poland and Slovakia to predominantly EU15 countries. It describes the incentives for emigration and evaluates the effect of the EU accession in 2004 for all three countries using the regional data. Our empirical estimation suggests that while outward labour migration from Poland was positively related to lagged emigration and negatively related to employment rate and average real wage, this relationship was less obvious and significant in the case of the Czech Republic and Slovakia. In addition, our results also imply that the EU accession had only indirect impact on emigration for three countries in question.

Keywords: Labour migration, emigration, EU Enlargement, Czech Republic, Poland, Slovakia
JEL classification: F02, F22, J61

Possible Modifications of the Multiple Criteria Assignment Method

A. Borovička

Abstract: The paper introduces the multiple criteria decision making method using one of basic problems of linear programming as its computational principle; thus, the algorithm is based on the assignment problem enabling the assignment of alternatives and rank. The known basic algorithm of the assignment method is described and some modifications are proposed that take into account differences among criterial values or some stochastic elements. Finally, the article offers some practical application in investment decision making process in the field of capital market with shares funds.

Keywords: Assignment method, difference, shares fund
JEL classification: C63, G11


The most downloaded articles in Volume 6 (2012) from the journal website

30/01/2013

6(1)
1. Brauers, W.K.M., Project Management for a Country with Multiple Objectives, (554)
2. Halkos, G.E, Papageorgiou, G.J., Pollution Control Policy: A Dynamic Taxation Scheme, (526)
3. Kumar, V., Cartels in the Kautiliya Arthasastra, (512)
6(2)
1. Varela, D., Prado-Dominguez, J., Negotiating the Lisbon Treaty: Redistribution, Efficiency and Power Indices, (312)
2. Brodzicki, T., Augmented Solow Model with Mincerian Education and Transport Infrastructure Externalities, (274)
3. Mazurkiewicz, M., Analysis of Regional Aspects of Voting Behaviour: The Case of Polish Presidential Election, (215)

6(3)
1. Hosli, M.O., Negotiating the European Constitution: Government Preferences for Council Decision Rules, (134)
2. Berlemann, M., Who Cares about Inflation? Empirical Evidence from the Czech Republic, (128)
3. Romaniuc, R., Judicial Dissent under Externalities and Incomplete Information, (115)


The most downloaded articles per volume from the journal website

30/01/2013

Volume 5 (2011)
1. Yalcinkaya Koyuncu, J., Foreign Bank Presence and Bank Spreads: Evidence from Turkey, 5(1), (775 downloads)
2. Schofield, N., Is the Political Economy Stable or Chaotic?, 5(1), (741)
3. Fidrmuc, J., Süss, P.J., The Outbreak of the Russian Banking Crisis, 5(1), (730)

Volume 4 (2010)
1. Migliardo, C., Monetary Policy Transmission in Italy: A BVAR Analysis with Sign Restriction, 4(2), (1442)
2. Zelený, M., Bata Management System: A Built-In Resilience against Crisis at the Micro Level, 4(1), (1394)
3. Krištoufek, L., Rescaled Range Analysis and Detrended Fluctuation Analysis..., 4(3), (1037)

Volume 3 (2009)
1. Viren, M., Does the Value-Added Tax Shift to Consumption Prices?, 3(2), (1586)
2. Schofield, N., Ozdemir, U., Formal Models of Elections and Political Bargaining, 3(3), (1446)
3. Curini, L., Martelli, P., Electoral Systems and Government Stability: A Simulation of 2006 Italian Policy Space, 3(3), (1201)
 


The most cited articles in Scopus

30/01/2013

The number of citations in Scopus (since 2010 - Volume 4)

7: Kennet, D.Y, et al., Czech Economic Review 4(3), 330-340.

5: Kristoufek, L., Czech Economic Review 4(3), 315-329.

1: Brauers, W.K.M, Czech Economic Review 6(1), 80-101.

1: Hosli, M.O., Uriot, M.C.J., Czech Economic Review 5(3), 231-248.

1: Fidrmuc, J., Suss, P.J., Czech Economic Review 5(1), 46-63.

1: Migliardo, C., Czech Economic Review 4(2), 139-167.

1: Zelený, M., Czech Economic Review 4(1), 102-117.
 


IDEAS/RePEc Simple Impact Factor

30/01/2013

Out of Czech economics journals, our journal has the following position measured by the IDEAS/RePEc Simple Impact Factor:

  530.  Czech Economic Review 0.448 
  580.  Prague Economic Papers 0.355
  661.  Czech Journal of Economics and Finance (Finance a uver) 0.257 
  738.  Politická ekonomie 0.18
  791.  Bulletin of the Czech Econometric Society 0.128

1097 journals are listed in January 2012 ranking (only journals with 50 or more papers and at least one citation are considered). The full ranking is available here.

RePEc (Research Papers in Economics) is a volunteer-driven initiative to create a public-access database that promotes scholarly communication in economics and related disciplines. The database contains information on more than 585,000 items. RePEc is providing ranking of leading economic journals by so called simple impact factor (a ratio of citations by the number of items in the journals, citation counts being adjusted to exclude citations from the journal considered).


The most cited articles according to Harzing's Publish or Perish, 2007-2012

30/01/2013

Aggregate statistics

Papers: 130
Citations: 194
Years: 7
Cites/paper: 1.49
h-index: 8 
g-index: 9

Number of citations, Authors, Title, Volume (Issue)

11, F Turnovec, New Measure of Voting Power, 1(1)
11, SZ Alparslan Gok, R Branzei…, Some characterizations of convex interval games, 2(3)
11, DY Kenett, Y Shapira, A Madi…, Dynamics of stock market correlations, 4(3)
10, J Babecký, Aggregate wage flexibility in new EU member states, 2(2)
10, MO Hosli, Council decision rules and European Union constitutional design, 2(1)
8, L Mallozzi, S Tijs, Partial Cooperation and Non-Signatories Multiple Decision, 2(1)
8, F Turnovec, National, Political and Institutional Influence in European Union Decision Making, 2(2)
8, J Fidrmuc…, The outbreak of the Russian banking crisis, 5(1)
6, R Branzei, G Ferrari, V Fragnelli…, A flow approach to bankruptcy problems, 2(2)
6, M Viren, Does the Value-Added Tax Shift to Consumption Prices?, 3(2)
6, V Fragnelli…, Strategic manipulations and collusions in Knaster procedure, 3(2)
5, N Schofield, Is the Political Economy Stable or Chaotic?, 5(1))
5, L Krištoufek, Rescaled Range Analysis and Detrended Fluctuation Analysis..., 4(3)


Citations in impacted journals

30/01/2013

At the moment, the Web of Knowledge identifies citations to the CER from the following journals:

PLOS ONE
GAMES AND ECONOMIC BEHAVIOR
EPL
OMEGA-INTERNATIONAL JOURNAL OF MANAGEMENT SCIENCE
CHAOS
SOCIAL CHOICE AND WELFARE
THEORY AND DECISION
ECONOMIC RECORD
MATHEMATICAL AND COMPUTER MODELLING
INTERNATIONAL JOURNAL OF INTELLIGENT SYSTEMS
JOURNAL OF MATHEMATICAL ECONOMICS
PHYSICA A-STATISTICAL MECHANICS AND ITS APPLICATIONS
GROUP DECISION AND NEGOTIATION
ECONOMICS OF TRANSITION
INTERNATIONAL JOURNAL OF UNCERTAINTY FUZZINESS AND KNOWLEDGE-BASED SYSTEMS
MATHEMATICAL SOCIAL SCIENCES
EURASIAN GEOGRAPHY AND ECONOMICS
POST-COMMUNIST ECONOMIES
FINANCE A UVER-CZECH JOURNAL OF ECONOMICS AND FINANCE
POLITICKA EKONOMIE
EKONOMICKY CASOPIS
CENTRAL EUROPEAN JOURNAL OF OPERATIONS RESEARCH
PRAGUE ECONOMIC PAPERS
EKONOMSKA ISTRAZIVANJA-ECONOMIC RESEARCH
BALTIC JOURNAL OF ECONOMICS
METALURGIA INTERNATIONAL
CONTROL AND CYBERNETICS
INTERNATIONAL JOURNAL OF INFORMATION TECHNOLOGY & DECISION MAKING


List of authors

28/01/2013

The updated list of authors together with their affiliations can be downloaded here.


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