F. Stellner, Marek Vokoun, Tomáš Nigrin, Marek Kasa
{"title":"Characteristics of Austrian passenger transport policy development since the 1950s","authors":"F. Stellner, Marek Vokoun, Tomáš Nigrin, Marek Kasa","doi":"10.2478/revecp-2022-0014","DOIUrl":"https://doi.org/10.2478/revecp-2022-0014","url":null,"abstract":"Abstract This paper investigates the transport policy development and characteristics of the Austrian passenger transport sector from the 1950s onwards. The analysed performance indicators deal with the three most prevalent modes of transport (cars, trains and airplanes) and are linked to independent decision-making units (passengers) and their motives (price, quality and time to destination) as well as to goals and decisions involved in government policies. In this theoretical framework, we identified three developmental phases, using an interdisciplinary approach to assess the development of three variables of interest (number of car, air and train passengers). In the long term, transport policy aimed to solve the rigidity and lack of vision in train transport and the extensive use of cars. Air transport was a steadily growing segment in a close and positive relationship with trains, which is in line with the transport political orientation towards Vienna Airport and train connections to the capital city. The post-war phase (1945–1970) was characterised by enormous growth in the number of cars, an upswing in air transport and stagnant train transport. The second phase (1970–1994) was defined by a progressive liberalisation of rail transport and a plan to balance the growth rates of car, train and airplane performance variables. Finally, in the 1995–2019 phase, the growth in train transport increased; however, this growth remained far below the growth rates of air and car performance variables. Transport policy achievements and shortcomings for future research are suggested.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48907413","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":"Travel behaviour changes during the pandemic: Prague-Pilsen rail case study","authors":"Simona Surmařová, Martin Vrána, Jan Ilík","doi":"10.2478/revecp-2022-0015","DOIUrl":"https://doi.org/10.2478/revecp-2022-0015","url":null,"abstract":"Abstract The COVID-19 pandemic has affected many aspects of our everyday lives. Governments have taken numerous measures to contain the spread of the pandemic, which has had a direct impact on daily mobility, modal choice and the function of public transport. This study uses quantitative and qualitative data to describe how the pandemic influenced travel on the Prague-Pilsen (Praha-Plzeň) railway line. The results of the case study on the Prague-Pilsen railway line are consistent with experiences in other countries. 38% decrease in passenger numbers was found between 2019 and 2020. Although numbers are increasing again, they still have not reached the pre-pandemic level. The number of connections has also decreased by a third on average (2019 to 2020). We also conducted in-depth interviews with train passengers on the above-mentioned route. Two-thirds of passengers stated that the frequency of their journeys had not been affected by the pandemic. However, like the other participants, they described other changes caused by the pandemic. Fear of infection played an important role, and the inconvenience of overcrowding was mentioned several times. The switch from buses to trains was mentioned, as was the fact that more and more travellers prefer to travel first class. In some cases, changes in the temporality of trips were also documented. The survey suggests that respondents travel less frequently by train for systematic, functional, health or social reasons.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47287821","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":"Diversity and Inclusion Practices as a Booster for Firm Sustainability: Evidence from the Czech Automotive Sector","authors":"E. Velinov, P. Strach","doi":"10.2478/revecp-2023-0002","DOIUrl":"https://doi.org/10.2478/revecp-2023-0002","url":null,"abstract":"Abstract The paper investigates implemented diversity and inclusion practices’ effect on firm sustainability. The study covers a sample of small and middle-sized automotive firms in Czechia, where diversity and inclusion practices have been implemented in relation to firm sustainability. The paper’s methodology is based on theoretical models of diversity management and firm sustainability in the automotive sector. The paper provides evidence that a low number of firms in the Czech Republic in the automotive sector have been rolling out any diversity and inclusion measures but at the same time, the majority of the selected firms have been considering the development and implementation of human resource management practices in the area of diversity and inclusion as a vital part of attracting more investors and aligning with the global sustainable goals of the United Nations. Moreover, the paper brings evidence that the automotive firms in the Czech Republic are following global and regional trends on diversity and inclusion as an important step for a sustainable strategic development.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48988490","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":"Financial shocks and their effects on velocity of money in agent-based model","authors":"J. Bohacik","doi":"10.2478/revecp-2022-0011","DOIUrl":"https://doi.org/10.2478/revecp-2022-0011","url":null,"abstract":"Abstract The interaction of debt and economic performance has been getting more attention over the last few years. However, models making provision for debt are still outnumbered by models completely ignoring it. This paper is the first one to analyze the relationship between household debt (in the form of bank loans) and economic performance (in terms of aggregate income) considering both the impact of wealth and income distribution, and the impact of the MPC distribution under various financial shocks. The outcomes of the model are velocities calculated as ratios of aggregate income to aggregate debt. The paper demonstrates how financial shocks affect the income velocity of money under different distributions of wealth/income and marginal propensity to consume across the population. For this purpose, an original agent-based simulation model with a limited loan supply was designed. Proposed model shocks are shocks to loan demand, loan supply, marginal propensity to consume, macro-prudential regulatory ratios, real estate capital gains, repayment ratios, shocks to the structure of loans provided and to the structure of real estate property transactions. It is shown that the more equal the distributions of wealth/income and of the marginal propensity to consume, the higher is the income velocity of money. From financial shocks, the marginal propensity to consume shock and the shock to the structure of new real estate property purchases have the largest impact on velocity. The shock to regulatory ratios has generally the lowest magnitude.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42385756","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 disutility of driving below the speed limit on highways","authors":"N. Filipi, Bára Karlínová, Ondřej Krčál","doi":"10.2478/revecp-2022-0012","DOIUrl":"https://doi.org/10.2478/revecp-2022-0012","url":null,"abstract":"Abstract Reducing travel speed below the highway speed limit leads to savings in fuel consumption and CO2 emissions. However, car drivers may be reluctant to drive more slowly either because they do not want to lose time or for other reasons we refer to as ‘the disutility of driving at lower speeds’. In this paper, we use a survey experiment to isolate the disutility of driving at lower speeds by comparing drivers’ willingness to accept compensation for a fixed increase in travel time caused either by taking a longer route or by travelling at below-limit speeds. We show that Czech drivers require higher compensation for travelling at lower speeds than they require for the same travel time increment caused by a longer distance. This result represents the first piece of evidence showing that the disutility of driving at below-limit speeds on a highway is substantial and economically relevant.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48030044","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}
Jakub Petříček, Marek Komárek, Miroslav Marada, Jakub Randák
{"title":"Planned construction of HSR in Czechia and occasional long-distance work commuting: impact of passenger income","authors":"Jakub Petříček, Marek Komárek, Miroslav Marada, Jakub Randák","doi":"10.2478/revecp-2022-0013","DOIUrl":"https://doi.org/10.2478/revecp-2022-0013","url":null,"abstract":"Abstract This article analyses occasional work commuting mobility within three major metropolitan areas in Czechia in the context of future HSR routes. The main aim is to explain uneven commuting flows of inter-metropolitan travelers through their level of income, given their potential for the use of HSR from a demand perspective. To achieve the goals, the paper uses quantitative data analysis methods performed on a selection of 228 respondents who realized at least one business trip between Prague and Brno or Prague and Ostrava between January and September 2019. The results reveal that the level of income plays a significant role in the issue of using potential high-speed lines for occasional long-distance commutes.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46754461","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":"Effects of Development Aid on Donor’s Exports: A Case of the Czech Republic","authors":"Gabriela Dufková, Pavel Šálek","doi":"10.2478/revecp-2022-0008","DOIUrl":"https://doi.org/10.2478/revecp-2022-0008","url":null,"abstract":"Abstract The main goal of foreign aid should be the support of developing regions; however, due to the rising international requirements on the amount of provided aid, donors start to focus on the benefits aid can bring them as well. Both country-specific and general studies have been conducted to evaluate the return of aid from the donor’s perspective, with the majority of them suggesting that provided aid boosts donor’s exports to the developing countries. As no such analysis exists for the Czech Republic, this paper tries to fill this gap and aims to find out whether there is a positive relationship between the Czech aid and Czech exports. While employing the gravity model of international trade, the study, however, suggests that the Czech aid is not statistically significant for the volume of Czech exports. Unlike other donors, the Czech Republic thus leaves a considerable trade potential arising from the foreign aid untapped. The reasons might be other motives behind the Czech aid (both official and unofficial), poor co-operation of aid and trade policies, or changes in trade patterns.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44097518","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":"Best proxy to determine firm performance using financial ratios: A CHAID approach","authors":"Muhammad Yousaf, S. Dey","doi":"10.2478/revecp-2022-0010","DOIUrl":"https://doi.org/10.2478/revecp-2022-0010","url":null,"abstract":"Abstract The main purpose of this study is to investigate the best predictor of firm performance among different proxies. A sample of 287 Czech firms was taken from automobile, construction, and manufacturing sectors. Panel data of the firms was acquired from the Albertina database for the time period from 2016 to 2020. Three different proxies of firm performance, return of assets (RoA), return of equity (RoE), and return of capital employed (RoCE) were used as dependent variables. Including three proxies of firm’s performance, 16 financial ratios were measured based on the previous literature. A machine learning-based decision tree algorithm, Chi-squared Automatic Interaction Detector (CHAID), was deployed to gauge each proxy’s efficacy and examine the best proxy of the firm performance. A partitioning rule of 70:30 was maintained, which implied that 70% of the dataset was used for training and the remaining 30% for testing. The results revealed that return on assets (RoA) was detected to be a robust proxy to predict financial performance among the targeted indicators. The results and the methodology will be useful for policy-makers, stakeholders, academics and managers to take strategic business decisions and forecast financial performance.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43694046","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":"Exploring the limitations of GDP per capita as an indicator of economic development: a cross-country perspective","authors":"Radek Dědeček, Viktar Dudzich","doi":"10.2478/revecp-2022-0009","DOIUrl":"https://doi.org/10.2478/revecp-2022-0009","url":null,"abstract":"Abstract In this paper, we explore the drawbacks of GDP per capita in purchasing power parity as an indicator of economic development and well-being and evaluate the factors which diminish its ability to represent the level of life. Firstly, we theoretically outline the issues that might be undermining the suitability of GDP per capita as a measure of well-being, and debate other development indicators. Subsequently, we confront GDP per capita with the most well-known development indicator – the Human Development Index HDI – and calculate the deviations between these two indicators for a panel of 141 countries. To empirically evaluate the potential limitations of GDP in measuring development, we regress the computed deviations between development and GDP on an array of economic, social, and political variables employing a heterogeneous panel dataset and robust fixed effects estimators. The results reveal that countries with higher income inequality and level of economic freedom are characterised by lower development than implied by their GDP per capita. Contrarily, the size of the shadow economy is negatively linked to the deviations of HDI from GDP. Certain sociocultural, geographic, and ecological factors, such as higher fertility rates, cold climate, and the depletion of natural resources, are prevalent among nations ranking higher in GDP per capita than in development.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46689103","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":"Activation programs for unemployment benefit recipients in Slovenia","authors":"S. Laporšek, Milan Vodopivec, Matija Vodopivec","doi":"10.2478/revecp-2022-0004","DOIUrl":"https://doi.org/10.2478/revecp-2022-0004","url":null,"abstract":"Abstract Activation of the unemployed has been an important topic among policymakers during the last decades. This paper reviews the current measures in Slovenia in the area of activation of unemployment benefit recipients and it compares its formal requirements related to activation against the international background. The paper focuses on five activation areas: adjustment of unemployment benefit eligibility, improving employment services, participation in active labour market policies, monitoring and sanctions. The review lists several recommendations Slovenia should apply to activate unemployment benefit recipients, including introducing more demanding job search requirements and increased monitoring of the compliance with these requirements, introducing compulsory participation in active labour market programs, checking the consistency and effectiveness of the current profiling system, and strengthening the ex-ante effect of sanctions.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43349533","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}