Petr Rozmahel

Mendel University in Brno · Department of Economics

This paper reviews the role of bilateral fiscal differences, fiscal indiscipline and their joint effects in particular in determining business cycle synchronicity in the European Union (EU). Panel data comprising 28 EU members from 1999–2019 are used in the analysis. The two-step Instrumental Variable–Generalized Method of Moments (IV–GMM) is emplo...

Job polarization simply refers to the decline or disappearance of employment in middle skill occupations. Recent literature focuses on this phenomenon as a source of rising income inequality in countries. The hypothesis is that growth in employment over the last decades has favoured jobs at the low and high skill occupations with declines in employ...

We follow the multi-dimensional approach to socio-economic sustainability and distinguish among the needs of society in the four dimensions that make up the basic pillars in our model. Thus, we focus on the sustainable development of the economy, society, environment and institutions.

Within the context of the continuing integration process in Europe, this paper addresses the question of whether policies in the EU should head towards autonomy, coordination or harmonization. Taking the path dependence effect into account, it is the authors’ opinion that Europe has gone too far in its integration process to be able to continue wit...

Considering the changing concepts of competitiveness in current economic literature, the chapter evaluates competitiveness using various approaches to definition and measurement across the EU countries. In particular, three dimensions of competitiveness evaluation were identified and used in the analysis. In the first dimension, the traditional cos...

The paper examines the causal relation between the stock markets development and economic growth in the EU countries. In particular, the nature and causality direction is investigated. Panel data techniques including cointegration tests, vector error correction models and Granger causality tests were applied to indicate the nature and direction of...

The paper deals with the applications and comparison of various filtering techniques, which is an integral part of the business cycles identification and their further analysis. In particular, the paper examines four high-pass and band-pass filters and compares them to an ideal filter. The gain function is estimated and shown by the periodogram to...

We examine the effects of Eastern and Northern enlargement of the EU on regional business-cycle synchronization and sector specialization. Difference-in-difference estimates show that cyclical synchronicity decreased and differences in sector structure increased in acceding region-pairs after Eastern enlargement. For Northern enlargement, results a...

According to difference-indifference estimates business cycle synchronisation and similarity in sector structures between acceding and pre-existing regions reduced after Eastern Enlargement. Results for Northern enlargement are more ambiguous. In both enlargements, however, region pairs affected by enlargement with highly synchronised business cycl...

This book brings together the work of researchers in Eastern and Western Europe, who analyze competitiveness, social exclusion and sustainability from a range of perspectives. It examines the key challenges faced by the EU in its efforts to establish a socially inclusive and greener path to growth and develops policy recommendations to simultaneous...

The paper deals with different approaches to evaluation of competitiveness of the EU countries. Alternative measures of competitiveness indicators are applied and compared in the paper. The traditional approach of cost-based productivity measures is applied in the analysis. In addition, the set of infrastructure and human capital quality indices re...

The paper deals with assessing the EU from the new optimum currency area theory perspective. It focuses on measuring of the business cycle coherence applying the composite indicators of output gap similarity and synchronicity. Static as well as dynamic business cycle analysis is applied in the paper. In addition, the OCA endogeneity hypothesis is t...

This report deals with the structure of the service sector in CENTROPE and compares the supply and demand side of tourism industry and its structure. This part also pays attention to issues of cooperation in tourism within CENTROPE. We find that there are obvious disparities in the development of knowledge intensive services between the urban agglo...

The paper deals with assessing the common trends in business cycle similarity and convergence in Europe. The main goal of the paper is to identify common cyclical co-movements and trends in convergence among the European countries so that the emerging European business cycle could be identified. Concerning the factors of business cycle, the researc...

The economic crisis had a deep impact on the CENTROPE Region. In average the CENTROPE countries were harder hit than the EU 27. Moreover the relative growth performance of regions within CENROPE shifted. While before 2008 the new EU countries among the CENTROPE countries experienced (with the exception of Hungary) higher growth rates than Austria,...

The adoption of Euro in Slovakia since January 2009 and current world economic crises revived a debate on timing of the Euro adoption in the Czech Republic and other Central and Eastern European countries. The purpose of the article is to contribute to a discussion on the process of joining the Eurozone by the Czech Republic and other candidate cou...

The article sheds some light on the process of measuring business cycle similarity and points out the fact that contemporary studies usually simplify this problem by measuring a simple correlation of cyclical development in GDP. The main goal is to assess the level of business cycle similarity in selected Eurozone member and candidate countries usi...

The paper deals with the evaluation of the preparedness of the Czech Republic and other candidate countries to join the Eurozone. The main goal is to asses the level of business cycle similarity in the selected Eurozone member and candidate countries using the Concordance index. Business cycle similarity belongs among the criteria defined within th...

The adoption of the Euro by Slovakia from January 2009 and the current world economic crises revived a debate on the timing of the adoption of the Euro in the Czech Republic and other CEECs. The purpose of the paper is to contribute to a discussion on the process of joining the Eurozone by the Czech Republic and other candidate countries. The paper...

The risk of a rapid rise in inflation or long-standing higher inflation related to the process of the Euro adoption is often mentioned argument in discussions on the timing of Eurozone enlargement process. The proponents of late terms of joining the Eurozone mostly point out the risk of price shock in the acceding countries with respect to a loss o...

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Ed. 1st