Wyniki wyszukiwania - Biblioteka Nauki

1

FORMOVANIE NÁZOROV NA POCIŤOVANÚ A OČAKÁVANÚ INFLÁCIU. POHĽAD BEHAVIORÁLNEJ EKONÓMIE

100%

Baláž V.

Ekonomický časopis (Journal of Economics)

|

2009

|

tom 57

|

nr 6

568-586

EN

This paper analyses formation of consumer opinions on perceived and expected inflation in the Euro area and selected transition economies in 1985 - 2008. Selected social and demographic groups accounted for their own patterns of price perception and forecasting. These patterns repeated in all observed countries. Consumer's sense of his/her familiarity and competence regarding the price development were main factors in evaluation of inflation rates by knowledgeable individuals and proved useful, when estimating actual price growth. Familiarity and competence, however, misled when estimating future price growth.

2

STRUCTURAL FUNDS AND BUIILDING KNOWLEDGE-BASE ECONOMY IN SLOVAKIA: EXPERIENCE, MAJOR CHALLENGES AND IMPLICATIONS FOR INNOVATION POLICIES

100%

Baláž V.

Ekonomický časopis (Journal of Economics)

|

2006

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tom 54

|

nr 8

755-770

EN

This paper analyses impacts of the Structural Funds implementation on fostering Research Technological Development Innovation (RTDI) in Slovakia. It explores absorption of the RTDI investments from the the Structural Funds in different types of Slovak regions and analyses it via in-depth interviews with the experts on RTDI policies and professionals involved in implementation of the Structural Funds in Slovakia. Concluding section summarises findings from the statistical data and interviews, and discusses policy options for implementation of the Structural Funds in planning period of 2007 - 2013.

3

ŠTRUKTURÁLNE ZÁVISLOSTI NÁRODNÝCH INOVAČNÝCH SYSTÉMOV: MODELOVANIE NELINEÁRNEJ DYNAMIKY INŠTITÚCIÍ POMOCOU NEURONOVÝCH SIETÍ

100%

Baláž V.

Ekonomický časopis (Journal of Economics)

|

2011

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tom 59

|

nr 1

3 – 28

EN

This paper examines structural dependencies within the national innovation systems of 125 countries in period 2006 – 2008. Some 37 partial indicators from the World Economic Forum and World Bank databases are aggregated into 11 independent and 2 dependent variables. Variable relations account for distinctive non-linear dynamics and are modelled via two-step cluster analysis and artificial neural networks. Overall quality of education system, property rights, law and ethics, and competition forces are identified by major predictors for innovativeness. The paper also examines some assumptions by the varieties of capitalism theory on institution complementarities and level of innovativeness. No evidence is found for liberal (coordinated) economies having more efficient innovation systems than mixed ones.

4

POPULAČNÁ DYNAMIKA KOMUNIKAČNÝCH TECHNOLÓGIÍ

100%

Baláž V.

Ekonomický časopis (Journal of Economics)

|

2008

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tom 56

|

nr 2

113-130

EN

The paper applies concepts of population dynamics on evolution of communication technologies. 'Lotka-Volterra' equations are applied to examine dynamics of the communication technologies in Slovakia and Czech Republic in 1948 - 2006. The fixed lines and mobile phones are considered predatory technologies hunting for their 'prey' - voice service subscribers. Cohabitation of two technologies is modeled within framework of full competition. Each technology squeezes out carrying capacity of its competitor. The mobile phones, however, exert considerable larger impact on the number of fixed telephone lines than vice versa. The paper also considers some limitations of the population dynamics approaches in economic modeling and discusses the different growth strategies by the particular types of technologies.

5

POCIŤOVANÁ A SKUTOČNÁ FINANČNÁ GRAMOTNOSŤ

100%

Baláž V.

Ekonomický časopis (Journal of Economics)

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2012

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tom 60

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nr 7

681 – 697

EN

Perceived and actual financial literacy in Slovakia was examined via standard questions used in the international surveys. The levels of perceived competence were well-related to actual knowledge of basic financial concepts, such as inflation, compound interest, time value of money and investment costs and socio-demographic variables (education, gender). Psychological variables (risk tolerance levels) impacted perceived financial knowledge indirectly, via willingness to invest in risky classes of financial products.

6

INVESTIČNÉ SPRÁVANIE SLOVÁKOV A JEHO MODELOVANIE POMOCOU ŠTRUKTURÁLNYCH ROVNÍC

100%

Baláž V.

Ekonomický časopis (Journal of Economics)

|

2010

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tom 58

|

nr 2

109-125

EN

This paper examines investment behaviour by Slovak investors. Data provided by the Slovak Survey of Investor Behaviour are analysed via structural equation modelling. Two major sub-samples of the Survey (standard population sample and sophisticated investors) account for similar determinants of investor behaviour. Risk tolerance, emotions and life-cycle factors explain significant proportion of variance in investment decisions.

7

POLITIKY VÝSKUMU A VÝVOJA V NOVÝCH ČLENSKÝCH ŠTÁTOCH EURÓPSKEJ ÚNIE

100%

Baláž V.

Ekonomický časopis (Journal of Economics)

|

2011

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tom 59

|

nr 9

875 – 894

EN

This paper examines goals, themes, instruments and outcomes of research and development policies in ten new Member Countries of the EU. Intensity of the public and business R&D expenditure approaches the EU averages in the Czech Republic, Slovenia, Hungary and Estonia. These countries may consider shifts in their R&D policies and increase importance of indirect forms of support (tax allowances, financial engineering tools), and also cluster policies and networking initiatives. Slovakia, Poland, Latvia, Lithuania, Bulgaria, Romania and Latvia, on the other hand, should primarily invest in improvements in the R&D infrastructure and increasing stocks and quality of researchers in public and private sectors.

8

POZNATKOVO INTENZÍVNE SLUŽBY A POZNATKOVÁ EKONOMIKA V MALÝCH EKONOMIKÁCH EURÓPSKEJ ÚNIE

100%

Baláž V.

Ekonomický časopis (Journal of Economics)

|

2005

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tom 53

|

nr 5

511-526

EN

This paper analyses development of the knowledge intensive business services (KIBS) in the small EU economies. After examination of historical trends in growth in KIBS the paper analyses relation between the KIBS consumption and development of the knowledge-based economy via an econometric model. The model identified employment in the KIBS, KIBS imports and investments in R&D as the major factors behind increases in high-tech exports. The concluding part of the paper sets development scenarios for growth in KIBS and advance of the knowledge-based economy in Slovakia.

9

GEOGRAPHICAL PATTERNS IN THE INTRA-EUROPEAN MIGRATION BEFORE AND AFTER EASTERN ENLARGEMENT: THE CONNECTIVITY APPROACH

63%

Baláž V. , Karasová K.

Ekonomický časopis (Journal of Economics)

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2017

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tom 65

|

nr 1

3 – 30

EN

This paper analyses spatial patterns in intra-European migration flows in the periods 1997 – 2004 and 2005 – 2013. The paper uses network analysis, and regression and factor analysis in order to establish the major determinants of the spatial patterns exhibited by intra-European migrant stocks. The EU’s Eastern enlargement generated vast East-West migrant flows and prompted a particular reconfiguration of the migration network. The basic topology of the network, however, did not change across the two observed periods: The whole network remains dominated by a ‘rich club’ structure. The topology of the network was seen to rely on a complex and stable set of long-term institutions, such as culture and language structures, and/or established pathways of trade in goods and knowledge.

10

ARE THE CONFIDENCE INDICATORS MEANINGFUL FOR FORECASTING REAL ECONOMY? TESTING POWER OF CONFIDENCE INDICATORS FOR INDUSTRY OUTPUT, PRICES AND EMPLOYMENT IN THE VISEGRÁD GROUP COUNTRIES

63%

Nežinský E. , Baláž V.

Ekonomický časopis (Journal of Economics)

|

2016

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tom 64

|

nr 10

923 – 936

EN

This paper examines predictive power of the confidence indicators for developments in industrial output, producer prices and employment in the Czech and Slovak Republics, Hungary, and Poland (V4 countries). The Granger Causality tests are used for establishing potential causation between the confidence indicators and real economy data. The best OLS models with autoregressive terms complemented by confidence indicators are selected and their predictive accuracy is tested against the ARMA benchmarks with the Diebold-Mariano test. All OLS models performed better than the naïve ones .We conclude that the actual CI variables seem to reflect future patterns of economic development in next 1 – 2 months, and not just opinions by economic agents based on current or past economic trajectories.

11

NAÏVE INVESTMENT STRATEGIES IN COMPLEX FINANCIAL CHOICES

63%

Baláž V. , Bačová V.

Ekonomický časopis (Journal of Economics)

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2015

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tom 63

|

nr 6

599 – 616

EN

This study analysed efficiency of heuristic strategies in complex financial choices. Some 200 naïve investors evaluated 15 financial products with eight attributes. Complex choices developed in two stages. The stage one employed non-compensatory strategies for reducing information burden, eliminating inadequate options and specifying a more narrow decision set. Attribute-based compensatory strategies are accounted for a significant majority of strategies in stage two. Naïve decision strategies worked relatively well. Average Sharpe ratios and product ranks were higher than random choices of financial products. The best results were delivered by the normative strategy, however, at the cost of a high information burden.

12

DUAL ECONOMY AND IMPACTS OF FOREIGN INVESTMENT ON PRIVATE R&D IN SLOVAKIA

63%

Zajac Š. , Baláž V.

Ekonomický časopis (Journal of Economics)

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2007

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tom 55

|

nr 9

851-872

EN

This paper analyses development of the private R&D system in Slovakia after 1989. In 1990s, Slovakia experienced a painful economic transition, privatization and influx of the foreign direct investment. These developments were major factors behind sharp fall in R&D spending and levels of innovativeness. Moreover, Slovakia became a dual economy. Branch-plants of the multinational companies benefited from technology diffusion and accounted for the high productivity levels. The domestic companies generated low demand on innovative solutions and competed with the low costs of production. There, however, were some 'islands of excellence'. This was a case of the 'Zentiva' pharmaceutical firm, which accounted for a distinctive system of R&D and innovation patterns. The 'Zentiva' case study is analysed via patterns of corporate governance, entry of a smart foreign investor and firm's international expansion. Concluding chapter summarizes the findings on role of FDI in fostering innovations and private R&D.

13

ELLSBERGOV PARADOX: ROZHODOVANIE ZA PODMIENOK RIZIKA A NEISTOTY

51%

Baláž V. , Fifeková E. , Nemcová E.

Ekonomický časopis (Journal of Economics)

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2009

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tom 57

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nr 3

213-229

EN

This research analysed decisions under risk and ambiguity on a sample of 539 students of the Bratislava University of Economics. Experiments with bets on Ellsberg paradox and familiar events generated results similar to those obtained by Fox and Tversky in 1995. New findings relate to gender differences in decisions under risk and uncertainty. Female students were more ambiguity averse, if they had felt less competent in area of decision. While bets by male participants were significantly higher in financial topics, gender differences were much lower in bets on linguistic topics.

14

FINANCIAL PLANNING FOR RETIREMENT IN YOUNG ADULTS: INTERACTION OF PROFESSIONAL EXPERIENCE, KNOWLEDGE, AND BELIEFS

51%

Bačová V. , Dudeková K. , Kostovičová L. , Baláž V.

Studia Psychologica

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2017

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tom 59

|

nr 2

84 – 99

EN

The aim of the present study was to examine the impact of professional financial experience on the relationships between financial knowledge and beliefs on financial planning for retirement (FPR) in young adults. We designed a domain-specific personal belief inventory comprising all important components involved in FPR. Financial professionals (n = 145) demonstrated greater knowledge of the financial retirement system compared with non-professionals (n = 382). The two groups, however, differed neither in objective nor self-rated general financial literacy. In non-professionals, higher financial literacy was positively linked to trust in the 2nd pension pillar, self-assessed competence in FPR, personal engagement in FPR, perceiving FPR as less emotionally loaded and FPR task as fewer complex. These predicted relationships were not found among professionals. Thus, professional experience in financial domain seems to bring a deeper and particularized insight into the pros and cons of the pension system, and consequently vacillating beliefs about FPR.

15

EFFICIENCY OF THE ACTIVE LABOUR MARKET POLICIES: EVIDENCE FROM THE SLOVAK REPUBLIC

51%

Karasová K. , Baláž V. , Polačková Z.

Ekonomický časopis (Journal of Economics)

|

2019

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tom 67

|

nr 1

3 – 32

EN

This paper analyses the performance of active labour market policies (ALMP) in Slovakia. We found limited evidence of the economic efficiency of the ALMP in Slovakia. We quantify the relative importance of the ALMP compared to other factors for the employability of job seekers. ALMP performance relates to a host of external factors, such as business cycles, the number of local job vacancies, discrimination towards some ethnic minorities, and levels of regional development. Furthermore, we quantify policy effectiveness of the most important ALMP instruments. The concluding part of the paper points towards the importance of the ongoing demographic transition for revamping the current structure of ALMP.

16

DO MOTORWAYS INDUCE WIDER ECONOMIC BENEFITS? EVIDENCE FROM THE SLOVAK REPUBLIC

51%

Baláž V. , Dokupilová D. , Nežinský E.

Ekonomický časopis (Journal of Economics)

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2018

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tom 66

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nr 5

431 – 464

EN

This paper analyses wider economic and social impacts of motorways. It analyses the development of socioeconomic variables in the Slovak LAU 1 regions in the period 1997 – 2016. Difference in differences, panel regression with fixed effects, and synthetic control methods (SCM) are applied so as to identify potential long-run effects of motorways on regional economies and societies. The paper finds positive effects of motorways on wages, the number of firms, and internal migration. An SCM is the best procedure for measuring wider economic benefits of motorways when the number of treated units is low or there is only one treated unit.

17

TESTING PROSPECT THEORY PARAMETERS

45%

Baláž V. , Bačová V. , Drobná E. , Dudeková K. , Adamík K.

Ekonomický časopis (Journal of Economics)

|

2013

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tom 61

|

nr 7

655 – 671

EN

This research study used the original Tversky and Kahneman (1992) methodology to establish values of the key prospect theory parameters in samples of Slovakian construction managers and tertiary students. Median sample values for choice tasks with gains elicited in both samples were fairly similar to those established by the Tversky and Kahneman work (1992). When the same estimation techniques and data types are used, the prospect theory parameter values in Slovakian samples seem fairly similar for standard student populations in developed countries. Based on our results we assume that estimation techniques and data types may be more important for determining parameter values than testing environments and gender or experience of participants.