{"title":"Evolutionary psychology, economic freedom, trade and benevolence","authors":"John Levendis, R. Eckhardt, W. Block","doi":"10.2478/revecp-2019-0005","DOIUrl":"https://doi.org/10.2478/revecp-2019-0005","url":null,"abstract":"Abstract Our thesis is that the reason many of us today are inclined toward socialism (explicit cooperation) and against laissez-faire capitalism (implicit cooperation) is because the first type of behavior was much more genetically beneficial during previous generations of our species. There is, however, a seemingly strong argument against this hypothesis: evidence from human prehistory indicates that trade (implicit cooperation) previously was widespread. How, then, can we be hard-wired in favor of socialism and against capitalism if our ancestors were engaged in market behavior in past millennia? Although trade which is self-centered and beneficial (presumably mutually beneficial to all parties in the exchange) did indeed appear hundreds of thousands of years ago, benevolence was established in our hard-wiring very substantially earlier, literally hundreds of millions of years ago, and is therefore far more deeply integrated into the human psyche.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2019-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46940257","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Criteria for the optimal financing model of public theatres","authors":"Małgorzata Gałecka, Katarzyna Smolny","doi":"10.2478/revecp-2019-0007","DOIUrl":"https://doi.org/10.2478/revecp-2019-0007","url":null,"abstract":"Abstract The research is part of a wider research problem, whose aim is to find an optimal financing model for cultural institutions in Poland. The purpose of this research is to evaluate the performance indicators of municipal and regional theatres in the context of accessibility to cultural public services. The study forms a verification of previously distinguished indicators of the effectiveness of cultural institutions with a general direction: how to find an optimal financing model of public dramatic theatres. The current research problem is the accessibility of public dramatic theatres in the absence of criteria for the allocation of statutory subsidies. We hypothesise that the absence of criteria for the allocation of statutory subsidies highly diversifies the accessibility of performing arts organisations. The object of study is public dramatic theatres in Poland in the period 2011–2015. We investigated the indicators having an impact on the level of accessibility of public theatres. The statistical methods used allowed us to identify criteria affecting availability. These criteria are recognized in the literature. In addition, we indicate the level of diversification of accessibility by individual public theatres.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2019-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47074282","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Output gap in the Czech economy: DSGE approach","authors":"Jakub Bechný","doi":"10.2478/revecp-2019-0008","DOIUrl":"https://doi.org/10.2478/revecp-2019-0008","url":null,"abstract":"Abstract This paper presents three measures of the output gap estimated by a dynamic stochastic general equilibrium model of the Czech economy. We argue that the most plausible description of the business cycle provides the output gap defined as a deviation from a flexible price level of output, which is generated solely by permanent growth shocks. Our model shows that 2006-2008 overheating of the economy and the following 2008-2009 slump can be largely attributed to development in a world economy and export and import sectors, while the 2012-2013 recession was caused mainly by a combination of adverse domestic demand and cost shocks.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2019-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44195402","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The True Nature of the Portfolio Balance Channel of Quantitative Easing Policy","authors":"Jakub Jakl","doi":"10.2478/revecp-2019-0006","DOIUrl":"https://doi.org/10.2478/revecp-2019-0006","url":null,"abstract":"Abstract This paper analyses the effects of the ECB´s Public sector purchase programme (PSPP) on portfolios of the Eurozone investors. The ECB claims that the PSPP works mainly through the portfolio balance channel when the conditions on the asset markets are changed by the presence of a bidding central bank and investors are under those conditions forced to reallocate their portfolio to the state that better corresponds to ECB-changed market conditions and their preferences. This paper incorporates counterfactual analysis approach rather than analysis of direct change of prices and yields of given assets and uses sectoral data regression analysis of asset holdings of different investors in the Eurozone. This study addresses questions regarding size and direction of investors’ reallocations – what types of investors were acting as the main counterparts to the ECB on the market for government bonds and what asset classes were preferred and chosen as an alternative by investors in the Eurozone to reallocate their funds. The series of obtained regression estimates and counterfactual analysis graphic representation answers to questions mentioned above and identifies a nonnegligible effect of the PSPP on the rebalancing of government bond portfolios towards riskier corporate bonds and equities across investor types in major Eurozone countries.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2019-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46463999","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Spatial Distribution of Investment Incentives and the Impact of New Incentive System for Less Developed Regions in Turkey","authors":"O. Sungur","doi":"10.2478/revecp-2019-0002","DOIUrl":"https://doi.org/10.2478/revecp-2019-0002","url":null,"abstract":"Abstract Regional policy has been on the agenda of Turkey since the First Five-Year Development Plan (1963–1967), and so far, Turkey has put into practice to overcome regional disparities, one of the most important is regional-sectoral incentives. Thus, the incentive system, which has undergone many changes until today, has been revised and updated in 2012. Although this incentive system has been put into practice for increasing the investment in eastern provinces/regions, development gap between eastern and western regions still stands. The main purpose of this study is to investigate the success of the new incentive system and to determine whether the new investment incentive system is effective in shifting investments from developed regions to backward regions in Turkey. In the study, the regional distribution of investment incentives during 2001–2016 and the effect of new investment incentive system to change the distribution of investments in favor of less developed provinces/regions will be examined. By using investment incentives data, regional distribution of investments will be revealed with the help of map-graph technique. The study found that both the share of incentive certificates and the share of the investment amount have increased during the period of 2001–2016 in the less developed provinces. From this point of view, it is possible to say that the new investment incentive system has a positive impact on increasing the share of incentives in these provinces.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2019-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45412521","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The determinants of consumer behaviour of students from Brno when purchasing organic food","authors":"J. Švecová, Pavla Odehnalová","doi":"10.2478/revecp-2019-0003","DOIUrl":"https://doi.org/10.2478/revecp-2019-0003","url":null,"abstract":"Abstract The subject of this paper is the analysis of consumer behaviour in the organic market, focused on the behavior of students from Brno. Our study brings information which can potentially be used for further research and will also be useful for organizations with a practical interest in the production sale and distribution of organic food. To investigate the influence of the various factors was used the extended model of Theory of Planned Behaviour (TPB). In the current concept, there is no research in the Czech Republic that would apply the approach of Yadav and Pathak (2016) to examine of consumer behaviour on the sample of students, i.e. young Czech generations who are a potential target group. The theoretical part deals with the concept of consumer behaviour, based on the findings of the latest studies, dealing with this topic. In the practical part, the own research is presented, realized on a sample of 403 young consumers, studying in the second largest city of the Czech Republic, the city of Brno. In the Czech Republic, the young consumer is influenced mainly by factors such as personal attitude and subjective norms. Limitations of this study are the fact that in our questionnaire we were interested in how the consumer viewed the purchase of organic food in general and not how they view the purchase of individual organic products and that the research may be limited by the fact that the questionnaire was aimed solely at the younger generation of consumers studying in Brno, the second largest city in the Czech Republic. The behaviour of the younger generation has received little investigation, and in the Czech Republic, there is a lack of research on the behaviour of this sector.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2019-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42158298","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Socio-economic Development and its Impact on Health Personnel in Regions of Visegrad Group Plus Countries","authors":"I. Majerova","doi":"10.2478/revecp-2019-0001","DOIUrl":"https://doi.org/10.2478/revecp-2019-0001","url":null,"abstract":"Abstract The quality of life and economic development of economies and their regions is influenced by socio-economic indicators such as unemployment, healthcare and education, environmental issues or household equipment. The question remains whether these indicators within regions can also influence each other and whether they have positive or negative effects. The paper aims to describe the impact of the selected socioeconomic indicators on health personnel, which was also divided from the gender perspective. For this purpose, the regions of the Visegrad Group Plus countries at NUTS II level were selected. The research was performed in the period from 2004 to 2013. According to our results based on the Generalized Method of Moments with panel data, we found out that a change in household income and a change in the number of vehicles in the monitored regions have the greatest (positive) impact on staff in hospitals. The research may contribute to the discussion about levels of regional economic development and the related competitiveness in terms of the socio-economic approach, and it may also provide a basis for further discussion on its measurement and use of appropriate indicators.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2019-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49166203","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Eva Daniela Cvik, Radka Macgregor Pelikánová, M. Malý
{"title":"Selected Issues from the Dark Side of the General Data Protection Regulation","authors":"Eva Daniela Cvik, Radka Macgregor Pelikánová, M. Malý","doi":"10.2478/revecp-2018-0020","DOIUrl":"https://doi.org/10.2478/revecp-2018-0020","url":null,"abstract":"Abstract The Regulation (EU) 2016/679 on the protection of personal data (GDPR) was enacted in 2016 and applies from 25thMay 2018 in the entire EU. The GDPR is a product of an ambitious reform and represents a direct penetration of the EU law into the legal systems of the EU member states. The EU works on the enhancement of awareness about the GDPR and points out its bright side. However, the GDPR has its dark side as well, which will inevitably have a negative impact. Hence, the goal of this paper is twofold - (i) to scientifically identify, forecast, and analyze selected problematic aspects of the GDPR and its implementation, in particular for Czech municipalities, and (ii) to propose recommendations about how to reduce, or even avoid, their negative impacts. These theoretic analyses are projected to a Czech case study focusing on municipalities, which offers fresh primary data and allows a further refining of the proposed recommendations. An integral part of the performed analyses is also a theoretic forecast of expenses linked to the GDPR, which municipalities will have to include in their mandatory expenses and mid-term prognostic expectations regarding the impact on the budgets of these municipalities from Central Bohemia. The GDPR, like Charon, is at the crossing, the capacity and knowledge regarding its application is critical for operating in the EU in 2018. It is time both to admit that the GDPR has its dark side and to present real and practical recommendations about how to mitigate it.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44355547","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Loose Monetary Policy and Corporate Investment of Manufacturing Firms in the Czech Republic","authors":"Veronika Kajurová, Dagmar Linnertová","doi":"10.2478/revecp-2018-0019","DOIUrl":"https://doi.org/10.2478/revecp-2018-0019","url":null,"abstract":"Abstract The aim of the paper is to evaluate the effects of loose monetary policy on corporate investment of manufacturing firms in the Czech Republic during the period between 2006 and 2015. The main focus of the paper is on the effect of low interest rates on investment activity of Czech firms; additionally, the effects of interactions between interest rate and other firm-specific variables are investigated. The results indicate that corporate investment is positively associated with firm size, investment opportunities, and long term debt. Also, a negative effect of the cash position is found. Further, the findings show that monetary policy is a significant determinant of firm investment activity: when the monetary policy is loose, investment is positively affected. Furthermore, differences in the determinants of investment between highly and low leveraged firms were revealed.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43969409","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}