<abstract xmlns="http://www.w3.org/1999/xhtml"> In this paper I propose a flexible trend specification for estimating DSGE models on log differences. I demonstrate this flexible trend specification on a New Keynesian DSGE model of two economies, which I consequently estimate on data from the Czech economy and the euro area, using Bayesian techniques. The advantage of the trend specification proposed is that the trend component and the cyclical component are modelled jointly in a single model. The proposed trend specification is flexible in the sense that smoothness of the trend can be easily modified by different calibration of some of the trend parameters. The results suggest that this method is capable of finding a very reasonable trend in the data. Moreover, comparison of forecast performance reveals that the proposed specification offers more reliable forecasts than the original variant of the model.</abstract>

A Proposal for a Flexible Trend Specification in DSGE Models

<abstract xmlns="http://www.w3.org/1999/xhtml"> The aim of this paper is to identify the impacts of different taxes and expenditures on economic growth. The research is focused on 20 selected European Union Member States. These countries are equally divided into four groups based on their average tax burden as presented in the World Tax Index. A comparison of fiscal attributes among these groups is important for the analysis. Annual government finance data from the years 1995 to 2012 are used for an empirical study. The indicators observed are real GDP change, the composition and volume of total government expenditures, tax quotas of individual taxes and total budget balance. These indicators are used within an endogenous growth model together with capital stock and an approximation of human capital. A panel regression with fixed effects is used as an analytic tool. The main results are that an increase in social contributions, property, production and personal income tax quotas has an adverse effect on economic growth.</abstract>

Economic Growth and Budget Constraints: EU Countries Panel Data Analysis

<abstract xmlns="http://www.w3.org/1999/xhtml"> Educational mismatch in labour markets is a phenomenon that has been widely analysed, mainly with respect to rising concerns about a possible oversupply of graduates. Like most European countries, the Czech Republic has experienced a boom in tertiary education in the last decade. The incidence and determinants of over- and undereducation vary substantially depending both on the mismatch measurement approach and the data source applied. Educational mismatch is also reflected in wage levels: overeducated workers have lower wages and undereducated workers have higher wages than workers with the same education whose jobs match their education level. Second, overeducated workers earn more and undereducated workers earn less than their co-workers with exactly the required level of education. The effects are qualitatively the same regardless of the data source and measurement approach applied, but their sizes differ slightly.</abstract>

Educational mismatch in the Czech Labour Market

<abstract xmlns="http://www.w3.org/1999/xhtml"> The aim of this study is to estimate the unexplained gender pay gap in individual departments of a Czech hospital, to find out whether this gap varies between departments and, if so, to identify the possible causes of these differences. To estimate the unexplained part of the gender pay gap, we use the average treatment effect on the treated (ATT), and to identify the causes behind differences in the unexplained gender pay gap we use a linear regression model. We find that the ATT varies significantly between departments. To explain these differences, we use selected characteristics of the departments: the department’s size, the proportion of women in the department, and the gender of the departmental head. We come to the conclusion that women’s wages increase relative to male wages as the proportion of female employees grows. On the other hand, the unexplained gender wage gap is not proven to be lower in smaller or female-led departments.</abstract>

Gender Wage Differences in the Czech Public Sector: A Micro-level Case

<abstract xmlns="http://www.w3.org/1999/xhtml"> This paper examines the efficiency and public transport accessibility of indirect (devolved) state administration performed by municipalities with extended powers (hereinafter MEPs) in the Czech Republic. Our aim is to evaluate the efficiency of the revenues made by municipalities with extended powers, through performing powers delegated to them by the state administration, and those municipalities’ public transport accessibility as of 31 December, 2014. The rate of efficiency is tested on an output-oriented Free Disposable Hull model. One input variable is selected - the operating expenses of the municipal offices recalculated per inhabitant of the municipality’s administrative district - and two output variables are selected: contribution to the performance of state administration, recalculated per inhabitant of the municipality’s administrative district, and revenues from administrative fees per inhabitant of the municipality’s administrative district. The municipality’s offices’ transport accessibility is evaluated via network analysis using ArcGIS software. The article investigates the hypothesis that public administration deconcentration practices logically result in higher security costs and therefore inefficiency. The results reveal that only 66 of the country’s 205 MEPs are efficient and that operating expenses and state contributions for the performance of state administrative tasks play a significant role in these results. Efficiency is less significantly influenced by administrative fee revenues. Public transport accessibility is analyzed for two time intervals - 6:00 to 8:00 am and 1:00 to 2:00 pm - on Tuesdays. The degree of accessibility is defined using a six-point scale of accessibility. The results show that the best accessibility is in the morning hours, when the offices are accessible for 68.8% of the population aged 15+ in the Czech Republic; the worst accessibility is in the afternoon hours when only 2% of the population aged 15+ can access the offices.</abstract>

VŠB – Technical University of Ostrava, Faculty of Economics, Department of Public Economics

VŠB – Technical University of Ostrava, Faculty of Mining and Geology, Institute of Geoinformatics

The Efficiency and Public Transport Accessibility of Indirect State Administration in the Czech Republic

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 Review of Economic Perspectives (REP) – Národohospodářský obzor (in Czech) is a peer-reviewed scientific quarterly focused on issues in economic policy, economics and econometrics that have practical relevance for Central and Eastern European countries. The articles are published in English, in print and online versions. The journal has freely continued the tradition of Obzor národohospodářský, a Czech economic journal, first issue of which was published in 1895.  Why submit    Free of charge submission and no publication fees  Fast review and editing process  High quality of editing and language revision services by native speaker   Beyond scientific articles REP welcomes and publishes also other works related to its aim like    Reports from important scientific conferences and workshops  Book reviews    Rejection Rate    42 % (2012–2015 average)   Archiving  Sciendo archives the contents of this journal in Portico - digital long-term preservation service of scholarly books, journals and collections.  Plagiarism Policy  The editorial board is participating in a growing community of Similarity Check System's users in order to ensure that the content published is original and trustworthy. Similarity Check is a medium that allows for comprehensive manuscripts screening, aimed to eliminate plagiarism and provide a high standard and quality peer-review process. 