Journal of Economics - Obsahy ročníkov

This study applies Narayan and Popp’s (2010) unit-root test with two endogenous breaks, which has been proven to be more powerful than the other unit root tests with two breaks (Narayan and Popp, 2013) to assess the non-statio¬nary properties of the real interest rate parity (RIRP) for thirteen Central and Eastern European (CEE) countries. We examine the validity of RIRP from the unit root with two breaks of view and provide robust evidence which clearly indicates that RIRP holds true for six countries. Our findings point out their real interest rate convergence is mean reversion towards RIRP equilibrium values with two structural breaks. Our results have important policy implications for these CEE countries under study. Keywords: unit root test with two endogenous breaks, real Interest Rate Parity JEL Classification: C22, F36

In the article, we model education and human capital as major endogenous growth elements in a small open economy general equilibrium framework and consider several policy scenarios for Slovenia. Decrease of the personal income tax rate and increase of government spending on education turned out to be the most effective policy measures. It is important, though, to understand its transitory dynamic. Namely, as education expenditure is increased, certain amount of labour is temporarily withdrawn from its productive use and put into the educational system. Higher skill upgrade of labour requires longer and higher short-term labour force decrease, but also provides us with higher long-term growth. The households that would gain more utility from such policy scenarios are those with more skilled labour and thus higher income level. Keywords: education, endogenous growth, general equilibrium modelling, Slovenia JEL Classification: C68, D58, E24, H52

The paper offers an insight into the relationship between the euro to US dollar nominal exchange rate and the cost of sovereign credit default swaps (CDSs) of five selected countries of the eurozone: Germany and the PIGS countries. The investigation is undertaken under the rationalized belief that the former indicator represents the status of external economic stability of a country and the latter indicator is a descriptor of their internal debt capacity. The results affirm, inter alia, that there were substantial differences in the intensity and quality of the relation between external economic stability and internal debt capacity during the pre-crisis period as opposed to the crisis period. Keywords: euro to US dollar exchange rate, sovereign credit default swaps, cointegration, Granger causality, impulse response analysis, VAR model JEL Classification: F31, F34

This paper brings an analysis of the impact of banning the use of gender in insurance, with special focus on supplementary pension saving called also third pillar pension, according to the requirements of the European Court of Justice. By means of actuarial formulas of m-thly paid annuities and also mortality tables, it models and analyzes the amounts of pension annuities in the designed products of the third pillar pension. Keywords: annuity, gender, premium, pension JEL Classification: G22, G28

There are clear disparities between the health needs of residents and the financial sources of the public health system. The basic determinants of their formation is a development of health needs that is caused by age extension, increase in chronic diseases, as well as by increasing demands of the residents on healthcare services. The expenses related to the provision of healthcare may be increased by suitable implementation of e-Health project. The aim of this contribution is to evaluate the use of ICT in the health facilities in Slovakia as a basis of their effective strategic control. On the set platform we specified the disparities among the health facilities in the analyzed region may be specified on the basis of the platform and also it is possible to determine the decisive determinants that influence their further development. Keywords: healthcare, public health electronization, determinants of healthcare, e-medicine, tele-medicine, e-commerce in public health, state health politics JEL Classification: F60, H51, M15, I15