IDEAS home Printed from https://ideas.repec.org/a/prg/jnlpol/v2006y2006i2id555p227-246.html
   My bibliography  Save this article

Formalizovaný model tranzitívnej ekonomiky - prípad SR
[Formal model of economy in transition - case of Slovak republic]

Author

Listed:
  • Mikuláš Luptáčik
  • Viliam Páleník
  • Vladimír Kvetan
  • Ján Ďuraš
  • Jana Hrivnáková
  • Peter Ondko

Abstract

This paper aims at constructing a model of a small open economy of the Slovak Republic. In essence, the model represents a synthesis of already published modifications of the Mundell - Fleming type of models, describing the market of goods and services in interaction with the money market and paying special attention to foreign trade. As the model construction is aimed at providing a tool for qualitative analyses, the model equations are specified in linear functional form - in order to obtain analytic solutions. Theoretical analyses are confronted with the empirical verification of the constructed model. Not surprisingly, historical experience represented by data on Slovak economy in transition reveals that complex structure of the model degenerates to a much simpler form in early years of transition. It is understood and verified that several economic principles guiding market economies do not apply in transition (e.g. investments evolve independently of interest rates).

Suggested Citation

  • Mikuláš Luptáčik & Viliam Páleník & Vladimír Kvetan & Ján Ďuraš & Jana Hrivnáková & Peter Ondko, 2006. "Formalizovaný model tranzitívnej ekonomiky - prípad SR [Formal model of economy in transition - case of Slovak republic]," Politická ekonomie, Prague University of Economics and Business, vol. 2006(2), pages 227-246.
    • Handle: RePEc:prg:jnlpol:v:2006:y:2006:i:2:id:555:p:227-246
    DOI: 10.18267/j.polek.555
    as

    Download full text from publisher

    File URL: http://polek.vse.cz/doi/10.18267/j.polek.555.html
    Download Restriction: free of charge
    File URL: http://polek.vse.cz/doi/10.18267/j.polek.555.pdf
    Download Restriction: free of charge
    File URL: https://libkey.io/10.18267/j.polek.555?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Klaus Weyerstrass & Gottfried Haber & Reinhard Neck, 2001. "SLOPOL1: A macroeconomic model for Slovenia," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 7(1), pages 20-37, February.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jaanika Meriküll, 2004. "Macroeconometric Modelling of the Estonian Economy," University of Tartu - Faculty of Economics and Business Administration, in: Tiiu Paas & Egle Tafenau (ed.), Modelling the Economies of the Baltic Sea Region, edition 1, volume 17, chapter 5, pages 138-166, Faculty of Economics and Business Administration, University of Tartu (Estonia).
    2. Klaus Weyerstrass & Reinhard Neck, 2008. "Macroeconomic effects of Slovenia’s integration in the Euro Area," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 35(4), pages 391-403, September.
    3. Reinhard Neck & Gottfried Haber & Klaus Weyerstrass, 2010. "Optimal Deterministic and Stochastic Macroeconomic Policies for Slovenia: An Application of the OPTCON Algorithm," Computational Economics, Springer;Society for Computational Economics, vol. 36(1), pages 37-45, June.
    4. Klaus Weyerstrass & Daniela Grozea-Helmenstein, 2013. "A Macroeconometric Model for Serbia," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 19(2), pages 85-106, May.
    5. Weyerstrass, Klaus, 2008. "Economic policies on Slovenia's road to the euro area," Economic Systems, Elsevier, vol. 32(1), pages 92-102, March.
    6. Klaus Weyerstrass & Reinhard Neck, 2007. "A New EU Member Country on the Road to the Euro Area: Monetary and Fiscal Policies for Slovenia," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 35(4), pages 431-449, December.
    7. Michael Getzner & Serhiy Moroz, 2022. "The economic development of regions in Ukraine: with tests on the territorial capital approach," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 49(1), pages 225-251, February.

    More about this item

    Keywords

    mathematical economics; Mundell-Fleming model; small open economy; economic transition;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • P24 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - National Income, Product, and Expenditure; Money; Inflation

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prg:jnlpol:v:2006:y:2006:i:2:id:555:p:227-246. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Stanislav Vojir (email available below). General contact details of provider: https://edirc.repec.org/data/uevsecz.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.