Journal of Economics - Obsahy ročníkov

After the unexpectedly severe recession (2009) and equally unexpected re-covery (2010), the Slovak economy balanced between recovery and a second recession for two years (2011 and 2012). The Slovak economy was more resilient against “the second wave of the crisis” than previously expected. Although the euro area was in recession in 2012, the Slovak economy grew (albeit slightly). However, after the significant deceleration of economic growth in the last quarter of 2012, the expectations of a recession have returned. After approximately one and a half year of waiting, the Slovak economy will be fully confronted with the second wave of the crisis. The economy cannot resist the second wave of the recession (which has already hit the euro area) forever. Significant slowdown hits the economy at a time when the euro area economy has started to improve gradually. This could mean that the significant decline in economic growth could be coupled with a possible alleviation of the difficulties. Keywords: economic growth, economic stability, economic policy, country study – Slovakia, forecast, labour market, public finance, monetary policy JEL Classification: D11, E23, E37, E52, E62, F14, F32, J20, L60, O10, O52

EU accession has changed the agri-food trade of New Member States, including Hungary. The article focuses on analysing the changing structure and comparative advantage of Hungarian agri-food trade by product group and degree of processing. It aims to provide a clearer analysis of the effects of EU accession on Hungarian primary and processed agri-food trade by employing the latest data. Results confirm that revealed comparative advantages have weakened after accession and that the vast majority of products had a revealed comparative disadvantage after 2004. It is clear that accession has radically changed the survival time of agri-food trade, reasons for which are also identified. Keywords: comparative advantages, agri-food trade, EU accession JEL Classification: Q17

The realization of the silver economy concept presupposes the growth of potential demand of elderly in EU countries. It depends on the increase in the proportion of elderly in the population and on the growth of their income. Increased potential demand of the older generation has to generate a significant segment of the consumer market in the field of specific goods and services for the elderly. The crisis in a meaningful way impinges on the conditions of income formation of the population. It is possible to register the transition from the phase of the debt crisis into a consumption crisis. The growth of unemployment and stagnation of wages significantly limits the basics for generating future pensions in EU countries. The potential demand of the elderly for the regions and countries of the EU is examined, especially in the Slovak conditions. Keywords: crisis, silver economy, incomes in EU countries, senior’s income, income stratification in Slovak regions JEL Classification: D1, D31, G01, J11, J14, I32