Journal of Economics - Obsahy ročníkov

A static computable general equilibrium model of an open economy applied to the economy of Slovak Republic is presented in this paper. The data base of the model is a social accounting matrix created and adapted for purposes of this model and based on 2004 data. A methodology of a social accounting matrix disaggregation as an optimization problem of goal programming is proposed. The model applies to the automotive sector and shows how to analyze the im-pacts of changes in policy making such as increase of export, increase of export price and drop in production.

In this paper we investigate how Total Factor Productivity (TFP) has developed in Slovenian agriculture during the ten years of the transition for the period 1994 – 2003, and which agricultural production specializations recorded the highest TFP growth. Empirical results indicate that TFP, on average, progressed only slightly, by 1.8 percent, over the ten-year period. The decomposition of the TFP change indicates that it is mostly due to technological progress of 2.7 percent. Technical efficiency has remained rather stable on average, suggesting that farmers were able to implement the new technologies on time. Crop farms have performed the best, with a TFP progress on average by 9.5 percent solely due to technological progress. As we used a common frontier, our result indicates that crop specialization is leading the country’s agricultural technology.

This paper deals with the analysis of the purchasing power parity between Lat-via and the euro area and between Slovakia and the euro area using the Engle-Granger and Johansen cointegration techniques. Latvia and Slovakia became members of the European Union in May 2004 and have been already the members of the Exchange Rate Mechanism II (ERM II) preparing for the euro adoption. The whole analysis was done on monthly data covering the period January 1999 – May 2008. Both the Engle-Granger and the Johansen method did not confirmed the purchasing power parity (PPP) validity in both analysed cases.

The relationship between sales revenues per full time employee, research and development (R&D) expenditure and employment in Poland’s most advanced enterprises was examined for 2007 using econometric modelling. The level of innovation intensity varied from 1% to 10%. The research demonstrated that knowledge resources and sales revenues are positively correlated and that the former is having an ever greater impact on the latter. Ceteris paribus, a positive correlation between R&D expenditure on the one hand and sales revenues on the other was observed even in enterprises with an innovation intensity of 1%. In enterprises with an innovation intensity of 1 – 10%, R&D expenditure contributed to a more efficient allocation and utilisation of labour resources. This was a significant factor in developing enterprises and enhancing their competitiveness.

Strategic planning went pass theory and practice with inconsistent development, but it found a strong place in the theory, the practice and business environment. It became a natural part of business management. However there are permanently emerging questions considering its development. The most impor-tant issues in contemporary time are a rate of formalization of strategic plan content, standardization procedures of strategic planning, effectiveness of stra-tegic planning and methods of strategic plan formation. Submitted article tries to give a basic knowledge about a state of strategic planning practice in companies on territory of Slovakia.

This paper concerns the Keynesian topic of the Euthanasia of the Rentier. We summarize discussions appearing throughout the second half of the 20th century and concentrate on recent reflections on this topic. We develop a microeconomical foundation of the accumulation of capital indicating important linkages between the concepts of abstinence loss, varying levels of rentier consumption and slow convergence of the abstinence loss curve to zero. The outcome of the model offers an explanation of the capital accumulation process in the course of reducing interest rates and supports the feasibility of the reduction of interest rate to zero. However, recent studies on the rentier income share give no evidence about the rate of capital accumulation reaching the Euthanasia of the Rentier.