Impact of Early Retirement Incentives on Labour Market Participation: Evidence from a Parametric Change in the Czech Republic [PDF]
We investigate the impact of a change in the Czech early retirement scheme on the labor force participation of older male workers. Using the difference-in-differences method we find that a reduction in early retirement benefits by 2–3% leads to ...
David Kocourek, Filip Pertold
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The Price Effects of an Emerging Retail Market [PDF]
In this paper we analyze the effects of changing market structure on price dynamics of final goods in the emerging Czech retail market. We estimate the extent of upstream and downstream market power and find that changing market structure was responsible
Jiri Podpiera, Marie Rakova
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Evaluating Changes in the Monetary Transmission Mechanism in the Czech Republic [PDF]
We investigate the evolution of the monetary policy transmission mechanism in the Czech Republic over the 1996-2010 period by employing a time-varying parameters Bayesian vector autoregression model with stochastic volatility.
Marek Rusnak +2 more
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The Effects of Monetary Policy in the Czech Republic: An Empirical Study [PDF]
In this paper, we examine the effects of Czech monetary policy on the economy within the VAR, structural VAR, and factor-augmented VAR frameworks. We document a wellfunctioning transmission mechanism similar to the euro area countries, especially in ...
Magdalena Morgese Borys, Roman Horvath
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Market Power and Efficiency in the Czech Banking Sector [PDF]
Banking competition is expected to provide welfare gains by reducing monopoly rents and cost inefficiencies, favoring a reduction of loan rates and then investment.
Anca Pruteanu-Podpiera +2 more
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Credit Growth and Capital Buffers: Empirical Evidence from Central and Eastern European Countries [PDF]
Excessive credit growth is often considered to be an indicator of future problems in the financial sector. This paper examines the issue of how to determine whether the observed level of private sector credit is excessive in the context of the â ...
Adam Gersl, Jakub Seidler
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The Impact of Capital Measurement Error Correction on Firm-Level Production Function Estimation [PDF]
Based on a large panel of Czech manufacturing firms, we estimate firm-level production functions in 2003-2007 using the Levinsohn and Petrin (2003) and Wooldridge (2009) approaches, correcting for the measurement error in capital.
Kamil Galuscak, Lubomir Lizal
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The Determination of Wages of Newly Hired Employees: Survey Evidence on Internal versus External Factors [PDF]
This paper uses information from a rich firm-level survey on wage and price-setting procedures, in around 15,000 firms in 15 European Union countries, to investigate the relative importance of internal versus external factors in the setting of wages of ...
Daphne Nicolitsas +5 more
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Short-term Forecasting Methods Based on the LEI Approach: The Case of the Czech Republic [PDF]
This paper is aimed at developing short-term forecasting methods based on the LEI (leading economic indicators) approach. We use a set of econometric models (PCA, SURE) that provide estimates of GDP growth for the Czech economy for a co-incident quarter ...
Lubos Ruzicka, Vojtech Benda
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The Origins of Global Imbalances [PDF]
In this paper we study the endogenous response of unequally developed regions to a drop in investment and trade costs in a general equilibrium model. The response is characterized by a rise in foreign direct investment in the underdeveloped region and ...
Jan Bruha, Jiri Podpiera
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