Journal of Economics - Obsahy ročníkov

In the Slovak Republic, 2003 was the year of intensive economic-policy activities focused not only on the strengthening of macro-economic stability but on the creating of reforming conditions of its sustaining. The results of economic development of the SR were satisfactory in 2003 in spite of restraining of domestic demand by restrictive measures. Relatively high, 4.2 % rate of economic growth was achieved in 2003 mostly thanks to wide export increase. Concurrently with this, also the results of public finance have improved, the development of current account and employment were favourable as well. The rate of inflation has risen due to price deregulation. The prediction of economic development for 2004 expects further modest increase in GDP growth rate and persisting of the trends in macro-stability indicators development recorded in the year 2003.

In present monetary policy practice the category of core inflation takes an important place. It adjusts the level of total price increase by specific factors that can be generally assigned to the aggregate supply. In order to provide principal framework the article deals with the issues of inflation caused by the aggregate supply and it includes graphic analysis oriented also to dynamic aspect. It shows that fighting supply inflation brings about further economic distortions and fluctuations. Then the paper moves to the causes of supply inflation and enumerates the adjustment factors. The central bank is fully responsible for the level of core inflation. As presented in the article even central banks which target total inflation (CPI) take into account relevant adjustment factors in their analyses and decisions.

This paper is focused on presentation of the consolidation of financial statements in as such way, which allows to compare the consolidation procedures under the provision of the 8th Directive of the EU against the consolidation approach prescribed in the IAS’s. The main focus of this paper is to put on an analysis of how the respective consolidation procedures are able to provide the preparer of financial statements with a possibility of affecting the structure of the consolidation group, structure and the content of the financial statements, and (mainly) the way of how the consolidated profit or loss for the reporting period is presented. As a result of the accession process to the EU, Slovak will enforce the IAS/IFRS’s for the group accounts as of the January 1st, 2005.

We consider these tendencies to be decisive in modern management firm ima-ge building, searching for new elements of communication, adjusting to globalization, of market space, pursuing of value chain. For marketing to be successful it needs to get into all elements of management, mainly into setup, planning and controlling. To fulfil all previous marketing dimensions and mainly to application of complex access to marketing strategy information is decisive. At conclusion, we stress the need for thinking about main direction, or basic dimension, in single branch of science development. This introduce article is small experiment for such access.

The article deals with the measuring of individual risk aversion and the study of factors correlating with this measure. We used the model for quantification of risk aversion developed in research [8] which is based on derivation of Arrow-Pratt measure. Our research also proved that risk aversion is dominant attitude and risk aversion decreases with the increasing income and men have lower risk aversion than women. There were two significant factors: the overweight (stated by BMI) and the will to set up own business.

Various authors interested in social policy have different definitions of welfare state, its perspective and efficiency or development of social structure and social inequality. Globalization and international crises change the hierarchy of values. Today the global solidarity is a term used by politicians. The world has changed. The rich of the world think it is not easy to realise the values of tolerance, democracy and human rights in poor countries with low level of education and no health care. The welfare state helps to make globalization more humanistic. We can define welfare state as a state that concentrates power through social legislation and public sector. Welfare state guaranties minimum standard of income, nutrition, health, housing, education for every citizen as a political right and does not provide it as social benefits.

The article appraises development of transformation process in the view of social economic factors in the treated countries of Central and East Europe. For evaluation the author applies the system of rating of democratic development, law system, economic liberalization, level of corruption, human potential growth, freedom, initial conditions etc. In summary political economical appraisal of transformation in treated countries is compared.

In this paper we investigate the specification of the production function in Turkish manufacturing industries. Three types of production functions (Cobb-Douglas, CES and translog) are estimated for selected industries by using a panel data set for the period of 1980 – 1998. Data are taken from the Annual Manufacturing Industry Statistics of State Institute of Statistics. In addition, we examine if the changes in the growth rate of production in different industries are random or due to sectoral characteristics in the framework of random and fixed effect models. We conclude that the Cobb-Douglas function performs best and the differences in growth rates are found to be random.