Journal of Economics - Obsahy ročníkov

This empirical paper delivers new insights to understanding the linkages between importing and skill upgrading, and importing and exporting. The propensity score matching analysis uses employer-employee panel dataset for Slovenian manufacturing firms. The results show that firms with a better skill structure start importing and later also sustain a higher skill share, compared to non-importing firms. Meanwhile, firms’ skill structure deteriorates after firms stop importing. The study also highlights the importance of importing, serving as a prerequisite before the start of exporting through importing intermediate goods and/or technology, and exposing a different function of intermediate and capital goods in the production process. Keywords: importing, exporting, skill structure of firms JEL Classification: F14, J24

This paper deals with fiscal regulation in the EU and the UK, analysing the Stability and Growth Pact (SGP) after the Six-pack reform and the recent introduction of British fiscal rules. The main aim of the first section of this paper is to compare the SGP before and after the Six-pack reform in order to determine whether the reform has contributed to conformity of the SGP with theoretical requirements on fiscal rules, as defined by Kopits and Symansky (1998). According to our analysis, it could be concluded that the Six-pack reform has contributed to better fiscal regulation in the EU compared with theoretical requirements. Enforceability in real conditions, nonetheless, still depends on political will. The second section deals with the two recent British fiscal rules, which are also analysed using the Kopits and Symansky framework. The analysis of Eurozone and British fiscal rules aims at contributing to the current discussions about the economic consequences of Brexit. Keywords: European Union, United Kingdom, EU governance, fiscal regulation, fiscal rule, Six-pack, Stability and Growth Pact JEL Classification: E62, E63, H30, H87

The principal aim of this paper is to determine which inputs affect active labour market policy expenditure of nine OECD countries. After the theoretical insight, we have conducted an empirical analysis using data from 2000 to 2013 and applied the dynamic Arellano-Bond panel data model. We checked the robustness of our results by revising our dynamic Arellano-Bond model (by excluding correlated and non-significant variables) and comparing the results with the fixed-effects and random-effects data estimation model. Our results show that, from the practical standpoint, the expenditure on active labour market policy measures in the previous year has had the strongest impact on the expenditure in the following period. We have noticed a change in factors that influence the expenditure from the pre-crisis to the post-crisis period. General economic indicators (such as GDP) and labour market indicators play more important role in times of the economic crisis. Keywords: active labour market policy, unemployment, passive measures, OECD countries JEL Classification: J21, J38, J64

Results in the area related to fiscal decentralization and economic growth are frequently inconsistent and somewhat ambiguous, although the fiscal federalism theory clearly promotes the fiscal decentralization gains in favour of efficiency and economic growth. Paper focuses on investigating the inverted U-shaped relationship between fiscal decentralization and economic growth using the GMM model (Generalized Method of Moments). After these results were obtained, real values of Slovakia are compared to GMM – EU-26 trend. The results of GMM estimation include a threshold value of fiscal decentralization, revealing the point at which a positive relation between fiscal decentralization and economic growth turns into negative. GMM estimation of the EU-26 countries sample confirms the inverted U-shaped relationship in case of revenue and tax decentralization. Expenditure decentralization seems to be insignificant. The case of Slovakia shows the conformity with the EU trend, what is evident in the case of tax decentralization and less in revenue decentralization. Keywords: fiscal decentralization, economic growth, non – linear relation, generalized method of moments JEL Classification: H71, H72, H77, O40

Poverty research in post-communist Europe has been behind its western counterparts but it is recently catching up. However, research of in-work poverty in the post-communist EU members is still rather scarce. This paper contributes to filling that gap. Using EU-SILC microdata, supplemented by various country-level statistics, this paper has two aims. Firstly, it maps the development of in-work poverty in the post-communist EU and compares it to western countries. Secondly, it identifies factors that may influence the probability of becoming a member of the working poor. Using multilevel regression techniques it reveals that individual factors play a considerably larger role in influencing the In-work Poverty (IWP) than institutions. Additionally, the findings show that there were three institutional barriers which prevented workers from becoming poor before the crisis: parental leave, unemployment benefits and union density. However, these institutions lost their influence during the crisis and still have not restored it after the crisis. Keywords: Eastern Central Europe, In-work Poverty, social policy, industrial relations, economic crisis JEL Classification: I32, J48, P51