Modern monetary policy focuses on inﬂation expectations. It is consistent with modern monetary theory: new neoclassical synthesis (NNS). NNS gives the background of monetary transmission mechanism. New Keynesian Phillips Curve, IS curve (production equation) as well as central bank’s reaction function include economic agents’ expectations.
Ligita Gasparėnienė, Yuriy Bilan, Rita Remeikienė, Romualdas Ginevičius, Martin Čepel
Although following the Regulation No. 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union (EU Commission, 2013), EU Member States are not obliged to measure the scopes of non-observed economy in the European system of national accounts, the economists and statisticians stress the need to estimate the scopes of this phenomenon to have reliable and comparable data on the structure and trends of both national and regional economies.
In this article, we discuss the relationship of banks, or loans provided by them, and economic development. We decided to investigate this relationship as banks in today’s economies play a signiﬁcant role as a vital institution in the ﬁnancial markets, where there is a distribution of monetary funds from surplus entities to deﬁcit entities. A necessary precondition of a functioning economy, in its present mostly mixed form, is a functioning and stable banking system. Currently, uncovered money is to a great extent the money generated by private banks, mainly in the form of loans.
Ondřej Vojáček, Jiří Louda
The Eastern Ore Mountains landscape has its speciﬁc and unique character. In particular, it is due to several speciﬁc landscape elements and biotopes, which either do not exist in other locations or are not as frequent. These locally speciﬁc ecosystems include notably montane meadows, clearance cairns and natural streams.
Gheorghe Săvoiu, Emil Burtescu, Vasile Dinu, Ligian Tudoroiu
In the economic, econometric and demographic literature, there coexist a few concepts, seemingly similar but signiﬁcantly different, whose purposes are predictive, intended to restructure and optimize, but also from a natural scientiﬁc need to know, understand, predict or prevent processes and systems; such concepts as forecasting, estimation, designing, assessing, planning, prediction and prospecting (Săvoiu, 2007, p. 351) and, last but not least, the simulation.