Browsing by Author "Klazar, Stanislav"

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    Coalition governments and inflation in central and eastern Europe countries
    (Technická univerzita v Liberci, Česká republika, 2013) Potluka, Oto; Klazar, Stanislav
    Článek se zabývá politicko-ekonomickými vazbami koaličních vlád v zemích střední a východní Evropy. Analýza dat odhalila statisticky významný vliv politické většiny na pokles inflace o 0,22 procentních bodů (za každé 1 % většiny vlády v parlamentě). Vlády sestavené z jedné strany a vlády minimální vítězné koalice (všechny strany ve vládě jsou nezbytné pro vytvoření většiny v parlamentu) statisticky významně ovlivnily inflaci ve srovnání s jinými typy vlád. V takovém případě byl pokles inflace přibližně o 3 procentní body.
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    Does the tax relief for homeownership have effect on household mortgage leverage?
    (Technická Univerzita v Liberci, 2018-03-29) Slintáková, Barbora; Klazar, Stanislav; Ekonomická fakulta
    This article presents results of the analysis of the relationship between the tax relief for the homeownership and the household mortgage debt. The advantageous treatment of housing is provided especially by a personal income tax if owner-occupiers do not report imputed rents as income but can deduct mortgage interest costs. This preferred tax status is justified by the existence of positive externalities and a desire to enhance housing opportunities available to citizens. However, evidence that the housing policy via the taxation achieves its objectives is still weak. Moreover the tax provisions for the homeownership benefit rather higher-income households. Furthermore there are indications that the housing taxation encourages levered property purchases and thus contributes to the household debt growth. Since the household indebtedness can have adverse effects on households and macroeconomic performance we focused on the issue whether the income tax relief for homeowners that finance their dwellings via a mortgage does affect the household leverage. We constructed the variable capturing especially the mortgage interest payments deductibility. We employed the multiple regression and data for the former 15 EU member countries (except Greece) for the period 2004-2013. We estimated two models for two representative taxpayers who vary in a family status using the panel data analysis with fixed effects. From our results we inferred that the income tax relief for the homeownership might not have influenced the mortgage leverage significantly in the selected European countries in the given period. The mortgage debt was affected rather by the economic level, price of own housing, mortgage interest payments or demographic structure.
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    Structure of governments and inflation in CEE countries
    (Technická Univerzita v Liberci, 2013-08) Potluka, Oto; Klazar, Stanislav; Ekonomická fakulta
    This paper deals with the political-economic relationships of the coalition governments in the countries of Central and Eastern Europe. The added value of this paper is in its approach to testing the relationship of the political and economic characteristics in the whole region of Central and Eastern Europe, especially for coalition governments. This approach has rarely been applied in recent literature. We used panel regression with fixed effect. Data revealed that the level of the incumbent government's majority in parliament is statistically significant and that the estimates showed a tendency of inflation to decrease by 0.22 pp in the case when the majority of the coalition increases by 1 percent. Single-party government and government with a minimal winning coalition (all parties in the government are necessary to form a majority in parliament) statistically significantly influenced the inflation even more and in comparison with other types of government, decrease the inflation by approximately 3 pp. There were also statistically significant estimates for public expenditure and economic growth. The inflation estimate increased in the case of an increase in public expenditure or an increase in economic growth in Central and Eastern European Countries. Both relationships are predictable using economic principles. The number of political parties did not appear statistically significant in any of the tested models. The same situation appeared in the case of the variable concerning the prime minister belonging to the strongest political party in the coalition government. Text was prepared under the support of IP 100040, institutional project of University of Economics, Prague.