Journal of Economics - Obsahy ročníkov

The problem of food deserts became a study object of more fields in the last decennium. This paper concentrates on the identification possibilities of food deserts by the means of accessibility measures of supermarkets and hypermarkets by the application of geographical information systems (GIS). The identification basis was presented by eight diverse accessibility measures analysed in the public transport network. Accessibility measures proved to be an appropriate analytical tool for food deserts identification. However, their selection must correspond to the specified targets considering the absence of a complex accessibility measure. Keywords: food deserts, Bratislava, accessibility measure, supermarket and hypermarket, public transport JEL Classification: C02, C88, R12, R40, R58

Mezzanine finance is a term for hybrid forms of finance. It has features of both debt and equity. Mezzanine finance instruments have been gaining in importance but remain little used compared to classic loan financing. The significance of mezzanine financing becomes more important when it comes to SMEs, which are the backbone of the European economy. SMEs often do not meet the criteria to obtain mezzanine finance or they do not have access to it. However, the problem is up-to-date. This paper focuses on definition, purpose and use of mezzanine finance in European region. In detail this article analyses the application of mezzanine finance for different classes of SMEs. Finally, it points out the significance and role of mezzanine finance and compares its advantages and possible disadvantages. Keywords: mezzanine finance, equity, senior debt, subordinate debt, SME JEL Classification: F36, G21, G32, M21

German Mortgage Banking served as a basis model for implementation in many European countries, Czech and Slovak republic including. The first mortgage act in Germany was adopted in 1900 and with a few changes validated for 105 years. In 2005 was adopted new mortgage bonds act, which on first place takes mortgage bonds, gives up the specialization principle, takes many inspirations for European countries, which have a system on German mortgage principle based. Keywords: mortgage obligations, mortgage covered securities, Jumbo and Glo-bal mortgage obligations, mortgage credit, principles of mortgage banking JEL Classification: G21, G28

The change of the climate on the Earth has impact on Slovakia as well. The article gives offers the suggestion of ART in Slovakia. In the year 2004 there was a hurricane across the High Tatras and Slovakia was not prepared for the insurance of such a catastrophe. The article is aimed at the suggestion of introducing the parametrical index for the hurricane in Slovakia which would save as a basis for further financial products which would insure against this kind of risk. Keywords: alternative risk transfer, risk insurance, risk retention groups, insurance-linked securities, parametric loss index. JEL Classification: G22

Why is rent-seeking highly relevant for recent economic theory? In this paper, I argue that recent criticism of rent seeking theory is not new and relevant. First, I explain the basis of rent seeking and the main contributions to this theory. Then I explain the criticism of this approach, which attacks the static grounds of this theory stemming out of the perfect competition equilibrium model and the normative concretizing of rent-seeking actions. I argue that rent-seeking theory had already abandoned the static perfect competition model in the eighties and that arguments using dynamic rent-seeking theory remain normative until they explain the institutional causes of economic development, which has been the centre of the economic profession for centuries. Keywords: economic growth, market process, profit-seeking, rent-seeking JEL Classification: B25, D42, O43

This paper includes a model of price movements (market values) based on the general premise that price is equivalent to market value, as well as other prem-ises. A concrete case involving the application of the dynamic theory of models to a description of the behaviour of price and use in a perfect competitive market is analyzed. The model is constructed from a first-order linear ordinary differen-tial equation and shows, given the market assumptions referred to above for certain types of commodity (such as furs or textiles), that the theory conforms closely to practice, which can be used to construct an estimation theory (for details see Drozen, F. (2003): Price – Value – Model. Praha: VŠE v Praze. ISBN 80-245-0501-0). Keywords: model, price, value, market value, value in exchange, equation, dif-ferential equation JEL Classification: C00, D40