Journal Articles

One of the most important aspects of the CERGE-EI dedication to the achievement of excellence found at leading western institutions is that the CERGE-EI faculty members, students, and researchers publish in top international journals. You can find a list of all impact-factor publications of CERGE-EI authors here. A recent selection of CERGE-EI top publications can be found below.

Go to CERGE-EI top publications of:

2012 2011 2010 2009 2008 2007 2006 2005 2004

Forthcoming Articles

Dušek, Libor. Forthcoming. “Crime, Deterrence, and Democracy.” German Economic Review.
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Kováč, Eugen, and Krešimir Žigić. Forthcoming. “International Competition in Vertically Differentiated Markets with Innovation and Imitation: Trade Policy versus Free Trade.” Economica.
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Sákovics, József, and Jakub Steiner. Forthcoming. “Who Matters in Coordination Problems?” American Economic Review.
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Stančík, Juraj, and Timo Välilä. Forthcoming. “Changes in the Fiscal Stance and the Composition of Public Spending.” Empirical Economics.
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2012 

Slobodyan, Sergey, and Raf Wouters. 2012. “Learning in a Medium-Scale DSGE Model with Expectations Based on Small Forecasting Models.” American Economic Journal: Macroeconomics, 4(2): 65–101.
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Matějka, Filip, and Alisdair McKay. 2012. “Simple Market Equilibria with Rationally Inattentive Consumers.” American Economic Review, Papers and Proceedings, 102(3): 24–29.
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Bauer, Michal, Julie Chytilová, and Jonathan Morduch. 2012. “Behavioral Foundations of Microcredit: Experimental and Survey Evidence from Rural India.” American Economic Review, 102(2): 1118–1139.
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Engelmann, Dirk. 2012. “How Not to Extend Models of Inequality Aversion.” Journal of Economic Behavior & Organization, 81(2): 599–605.
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Konečný, Tomáš, Josef Basl, Jan Mysliveček, and Natalie Simonová. 2012. “Alternative Models of Entrance Exams and Access to Higher Education: The Case of the Czech Republic.” Higher Education, 63(2): 219–235.
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Slobodyan, Sergey, and Raf Wouters. 2012. “Learning in an Estimated Medium-Scale DSGE Model.” Journal of Economic Dynamics and Control, 36(1): 26–46.
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Bena, Jan, and Peter Ondko. 2012. “Financial Development and the Allocation of External Finance.” Journal of Empirical Finance, 19(1): 1–25.
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2011 

Žigić, Krešimir, and Ilir Maçi. 2011. “Competition Policy and Market Leaders.” Economic Modelling, 28(3): 1042–1049.
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Malečková, Jitka, and Dragana Stanišić. 2011. “Public Opinion and Terrorist Acts.” European Journal of Political Economy, 27(S1): S107–S121.
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Žigić, Krešimir. 2011. “Does a ‘Non-Committed’ Government Always Generate Lower Social Welfare than Its ‘Committed’ Counter-Part? Strategic Trade Policy When Consumer Surplus Matters.” Journal of Comparative Economics, 39(4): 533–556.
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Hernando-Veciana, Ángel, and Fabio Michelucci. 2011. “Second Best Efficiency and the English Auction.” Games and Economic Behavior, 73(2): 496–506.
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Hanousek, Jan, and Evžen Kočenda. 2011. “Foreign News and Spillovers in Emerging European Stock Markets.” Review of International Economics, 19(1): 170–188.
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Hanousek, Jan, and Evžen Kočenda. 2011. “Public Investment and Fiscal Performance in the New EU Member States.” Fiscal Studies, 32(1): 43–71.
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Hanousek, Jan, and Anastasiya Shamshur. 2011. “A Stubborn Persistence: Is the Stability of Leverage Ratios Determined by the Stability of the Economy?” Journal of Corporate Finance, 17(5): 1360–1376.
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Égert, Balázs, and Evžen Kočenda. 2011. “Time-Varying Synchronization of European Stock Markets.” Empirical Economics, 40(2): 394–407.
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Bubák, Vít, Evžen Kočenda, and Filip Žikeš. 2011. “Volatility Transmission in Emerging European Foreign Exchange Markets.” Journal of Banking and Finance, 35(11): 2829–2841.
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Brůha, Jan, and Jiří Podpiera. 2011. “The Dynamics of Economic Convergence: The Role of Alternative Investment Decisions.” Journal of Economic Dynamics and Control, 35(7): 1032–1044.
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Engelmann, Dirk, and Wieland Müller. 2011. “Collusion through Price Ceilings? In Search of a Focal-Point Effect.” Journal of Economic Behavior & Organization, 79(3): 291–302.
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Jurajda, Štěpán, and Daniel Münich. 2011. “Gender Gap in Performance under Competitive Pressure: Admissions to Czech Universities.” American Economic Review: Papers and Proceedings, 101(3): 514–518.
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Bena, Jan, and Štěpán Jurajda. 2011. “Financial Development and Corporate Growth in the EU Single Market.” Economica, 78(311): 401–428.
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Pakoš, Michal. 2011. “Estimating Intertemporal and Intratemporal Substitutions When Both Income and Substitution Effects Are Present: The Role of Durable Goods.” Journal of Business & Economic Statistics, 29(3): 439–454.
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Blanco, Mariana, Dirk Engelmann, and Hans Theo Normann. 2011. “A Within-Subject Analysis of Other-Regarding Preferences.” Games and Economic Behavior, 72(2): 321–338.
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Gillman, Max, and Michal Kejak. 2011. “Inflation, Investment and Growth: a Banking Approach.” Economica, 78(310): 260–282.
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Commander, Simon, and Jan Švejnar. 2011. “Business Environment, Exports, Ownership, and Firm Performance.” Review of Economics and Statistics, 93(1): 309–337.
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Hanousek, Jan, and Evžen Kočenda. 2011. “Learning by Investing: Evidence from a Naturally-Occurring Auctions.” Economics of Transition, 19(1): 124–149.
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2010 

Jurajda, Štěpán, and Daniel Münich. 2010. “Admission to Selective Schools, Alphabetically.” Economics of Education Review, 29(6): 1100–1109.
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Kováč, Eugen, Viatcheslav Vinogradov, and Krešimir Žigić. 2010. “Technological Leadership and Persistence of Monopoly under Endogenous Entry: Static versus Dynamic Analysis.” Journal of Economic Dynamics & Control, 34(8): 1421–1441.
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Blanco, Mariana, Dirk Engelmann, Alexander K. Koch, and Hans Theo Normann. 2010. “Belief Elicitation in Experiments: Is There a Hedging Problem?” Experimental Economics, 13(4): 412–438.
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Brůha, Jan, and Jiří Podpiera. 2010. “Real Exchange Rates in Emerging Economies.” Economics of Transition, 18(3): 599–628.
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Earnhart, Dietrich, and Lubomír Lízal. 2010. “Effect of Corporate Economic Performance on Firm-Level Environmental Performance in a Transition Economy.” Environmental & Resource Economics, 46(3): 303–329.
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Bauer, Michal, and Julie Chytilová. 2010. “The Impact of Education on Subjective Discount Rate in Ugandan Villages.” Economic Development and Cultural Change, 58(4): 643–669.
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Poghosyan, Tigran, and Arsen Poghosyan. 2010. “Foreign Bank Entry, Bank Efficiency and Market Power in Central and Eastern European Countries.” Economics of Transition, 18(3): 571–598.
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Engelmann, Dirk, and Hans Theo Normann. 2010. “Maximum Effort in the Minimum-Effort Game.” Experimental Economics, 13(3): 249–259.
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Benk, Szilárd, Max Gillman, and Michal Kejak. 2010. “A Banking Explanation of the US Velocity of Money: 1919–2004.” Journal of Economic Dynamics & Control, 34(4): 765–779.
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Engelmann, Dirk, and Guillaume Hollard. 2010. “Reconsidering the Effect of Market Experience on the ‘Endowment Effect’.” Econometrica, 78(6): 2005–2019.
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Dinga, Marián, and Daniel Münich. 2010. “The Impact of Territorially Concentrated FDI on Local Labor Markets: Evidence from the Czech Republic.” Labour Economics, 17(2): 354–367.
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Lavička, Hynek, Lin Lin, and Jan Novotný. 2010. “Employment, Production and Consumption Model: Patterns of Phase Transitions.” Physica A: Statistical Mechanics and its Applications, 389(8): 1708–1720.
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Baghdasaryan, Delia, and Krešimir Žigić. 2010. “Tariffs, Market Conduct and Government Commitment.” Economics of Transition, 18(1): 91–122.
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2009 

Rydval, Ondřej, Andreas Ortmann, Sasha Prokosheva, and Ralph Hertwig. 2009. “How Certain Is the Uncertainty Effect?” Experimental Economics, 12(4): 473–487.
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Kočenda, Evžen, and Tigran Poghosyan. 2009. “Macroeconomic Sources of Foreign Exchange Risk in New EU Members.” Journal of Banking and Finance, 33(11): 2164–2173.
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Rydval, Ondřej, Andreas Ortmann, and Michal Ostatnický. 2009. “Three Very Simple Games and What It Takes to Solve Them.” Journal of Economic Behavior & Organization, 72(1): 589–601.
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Katuščák, Peter. 2009. “Taxes and Executive Compensation: Evidence from the 1990s.” CESifo Economic Studies, 55(3–4): 542–568.
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Estrin, Saul, Jan Hanousek, Evžen Kočenda, and Jan Švejnar. 2009. “Effects of Privatization and Ownership in Transition Economies.” Journal of Economic Literature, 47(3): 699–728.
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Krueger, Alan, and Jitka Malečková. 2009. “Attitudes and Action: Public Opinion and the Occurrence of International Terrorism.” Science, 325(5947): 1534–1536.
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Kováč, Eugen, and Tymofiy Mylovanov. 2009. “Stochastic Mechanisms in Settings without Monetary Transfers: The Regular Case.” Journal of Economic Theory, 144(4): 1373–1395.
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Jurajda, Štěpán, and Teodora Paligorova. 2009. “Czech Female Managers and Their Wages.” Labour Economics, 16(3): 342–351.
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Engelmann, Dirk, and Veronika Grimm. 2009. “Bidding Behaviour in Multi-Unit Auctions—an Experimental Investigation.” Economic Journal, 119(537): 855–882.
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Jurajda, Štěpán, and Katherine Terrell. 2009. “Regional Unemployment and Human Capital in Transition Economies.” Economics of Transition, 17(2): 241–274.
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Hanousek, Jan, Evžen Kočenda, and Jan Švejnar. 2009. “Divestitures, Privatization and Corporate Performance in Emerging Markets.” Economics of Transition, 17(1): 43–73.
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2008

Kočenda, Evžen, Jan Hanousek, and Dirk Engelmann. 2008. “Currencies, Competition, and Clans.” Journal of Policy Modeling, 30(6): 1115–1132.
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Boháček, Radim. 2008. “Efficiency–Equality Trade-off of Social Insurance.” Macroeconomic Dynamics, 12(5): 619–640.
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Ortmann, Andreas. 2008. “Prospecting Neuroeconomics.” Economics and Philosophy, 24(3): 431–448.
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Hertwig, Ralph, and Andreas Ortmann. 2008. “Deception in Social Psychological Experiments: Two Misconceptions and a Research Agenda.” Social Psychology Quarterly, 71(3): 222–227.
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Krajč, Marian, and Andreas Ortmann. 2008. “Are the Unskilled Really That Unaware? An Alternative Explanation.” Journal of Economic Psychology, 29(5): 724–738.
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Jurajda, Štěpán, and Katherine Terrell. 2008. “Job Reallocation in Two Cases of Massive Adjustment in Eastern Europe.” World Development, 36(11): 2144–2169.
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Van Koten, Silvester, and Andreas Ortmann. 2008. “The Unbundling Regime for Electricity Utilities in the EU: A Case of Legislative and Regulatory Capture?” Energy Economics, 30(6): 3128–3140.
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Benk, Szilárd, Max Gillman, and Michal Kejak. 2008. “Money Velocity in an Endogenous Growth Business Cycle with Credit Shocks.” Journal of Money, Credit and Banking, 40(6): 1281–1293.
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Jeong, Byeongju, Michal Kejak, and Viatcheslav Vinogradov. 2008. “Changing Compositon of Human Capital: The Czech Republic, Hungary and Poland.” Economics of Transition, 16(2): 247–271.
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Gupta, Nandini, John Ham, and Jan Švejnar. 2008. “Priorities and Sequencing in Privatization: Evidence from Czech Firm Panel Data.” European Economic Review, 52(2): 183–208.
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Poghosyan, Tigran, Evžen Kočenda, and Petr Zemčík. 2008. “Modeling Foreign Exchange Risk Premium in Armenia.” Emerging Markets Finance and Trade, 44(1): 41–61.
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Ryvkin, Dmitry, and Andreas Ortmann. 2008. “The Predictive Power of Three Prominent Tournament Formats.” Management Science, 54(3): 492–504.
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Boháček, Radim. and Marek Kapička. 2008. “Optimal Human Capital Policies.” Journal of Monetary Economics, 55(1): 1–16.
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Hertwig, Ralph and Andreas Ortmann. 2008. “Deception in Experiments: Revisiting the Arguments in Its Defense.” Ethics & Behavior, 18(1): 59–92.
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2007

Earnhart, Dietrich, and Lubomír Lízal. 2007. “Direct and Indirect Effects of Ownership on Firm-Level Environmental Performance.” Eastern European Economics, 45(4): 66–87.
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Devetag, Giovanna, and Andreas Ortmann. 2007. “When and Why? A Critical Survey on Coordination Failure in the Laboratory.” Experimental Economics, 10(3): 331–344.
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Boháček, Radim, and Hugo Mendizábal. 2007. “Credit Markets and the Propagation of Monetary Policy Shocks.” Journal of Money, Credit and Banking, 39(6): 1429–1455.
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Münich, Daniel, and Jan Švejnar. 2007. “Unemployment in East and West Europe.” Labour Economics, 14(4): 681–694.
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Chen, Yan, Peter Katuščák, and Emre Ozdenoren. 2007. “Sealed Bid Auctions with Ambiguity: Theory and Experiments.” Journal of Economic Theory, 136(1): 513–535.
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Kazakova, Elena. 2007. “Wages in a Growing Russia: When Is a 10 Per Cent Rise in the Gender Wage Gap Good News?” Economics of Transition, 15(2): 365–392.
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Jurajda, Štěpán, and Heike Harmgart. 2007. “When do Female Occupations Pay More?” Journal of Comparative Economics, 35(1): 170–187.
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Noguera, José, and Rowena Pecchenino. 2007. “OPEC and the International Oil Market: Can a Cartel Fuel the Engine of Economic Development?” International Journal of Industrial Organization, 25(1): 187–199.
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Blume, Andreas, and Andreas Ortmann. 2007. “The Effects of Costless Pre-play Communication: Experimental Evidence from Games with Pareto-Ranked Equilibria.” Journal of Economic Theory, 132(1): 274–290.
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Hanousek, Jan, Evžen Kočenda, and Jan Švejnar. 2007. “Origin and Concentration: Corporate Ownership, Control and Performance in Firms after Privatization.” Economics of Transition, 15(1): 1–31.
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2006

Kočenda, Evžen, and Juraj Valachy. 2006. “Exchange Rate Volatility and Regime Change: Visegrad Comparison.” Journal of Comparative Economics, 34(4): 727–753.
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Boháček, Radim. 2006. “Financial Constraints and Entrepreneurial Investment.” Journal of Monetary Economics, 53(8): 2195–2212.
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Hanousek, Jan, and Filip Palda. 2006. “Problems Measuring the Underground Economy in Transition.” Economics of Transition, 14(4): 707–718.
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Noguera, José, and Susan Linz. 2006. “Barter, Credit and Welfare: A Theoretical Inquiry into the Barter Phenomenon in Russia.” Economics of Transition, 14(4): 719–745.
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Earnhart, Dietrich, and Lubomír Lízal. 2006. “Effects of Ownership and Financial Status on Corporate Environmental Performance.” Journal of Comparative Economics, 34(1): 111–129.
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Gilbert, Scott, and Petr Zemčík. 2006. “Who's Afraid of Reduced-Rank Parameterizations of Multivariate Models? Theory and Example.” Journal of Multivariate Analysis, 97(4): 925–945.
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2005

Benk, Szilárd, Max Gillman, and Michal Kejak. 2005. “A Comparison of Exchange Economies within a Monetary Business Cycle.” Manchester School, 73(4): 542–562. (Abstract) (Journal Homepage)

Slemrod, Joel, and Peter Katuščák. 2005. “Do Trust and Trustworthiness Pay Off?” Journal of Human Resources, 40(3): 621–646.
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Lodewijks, John. 2005. “The ET Interview: Professor Jan Kmenta.” Econometric Theory, 21(3): 621–645.
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Gilbert, Scott, and Petr Zemčík. 2005. “Testing for Latent Factors in Models with Autocorrelation and Heteroskedasticity of Unknown Form.” Southern Economic Journal, 72(1): 236–252.
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Rydval, Ondřej, and Andreas Ortmann. 2005. “Loss Avoidance as Selection Principle: Evidence from Simple Stag-Hunt Games.” Economics Letters, 88(1): 101–107.
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Benk, Szilárd, Max Gillman, and Michal Kejak. 2005. “Credit Shocks in the Financial Deregulatory Era: Not the Usual Suspects.” Review of Economic Dynamics, 8(3): 668–687.
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Münich, Daniel, Jan Švejnar, and Katherine Terrell. 2005. “Is Women's Human Capital Valued More by Markets than by Planners?” Journal of Comparative Economics, 33(2): 278–299.
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Basu, Swati, Saul Estrin, and Jan Švejnar. 2005. “Employment Determination in Enterprises under Communism and in Transition: Evidence from Central Europe.” Industrial and Labor Relations Review, 58(3): 353–369.
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Gillman, Max, and Michal Kejak. 2005. “Contrasting Models of the Effect of Inflation on Growth.” Journal of Economic Surveys, 19(1): 113–136.
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Tyran, Jean-Robert, and Dirk Engelmann. 2005. “To Buy or Not to Buy? An Experimental Study of Consumer Boycotts in Retail Markets.” Economica, 72(285): 1–16.
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Münich, Daniel, Jan Švejnar, and Katherine Terrell. 2005. “Returns to Human Capital from the Communist Wage Grid to Transition: Retrospective Evidence from Czech Micro Data.” Review of Economics and Statistics, 87(1): 100–123.
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Slobodyan, Sergey. 2005. “Indeterminacy, Sunspots, and Development Traps.” Journal of Economic Dynamics and Control, 29(1–2): 159–185.
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Babetskii, Ian. 2005. “Trade Integration and Synchronization of Shocks: Implications for EU Enlargement.” Economics of Transition, 13(1): 105–138.
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Gillman, Max, and Michal Kejak. 2005. “Inflation and Balanced-Path Growth with Alternative Payment Mechanisms.” Economic Journal, 115(500): 247–270.
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2004

Babetskaia-Kukharchuk, Oxana, and Matilde Maurel. 2004. “Russia's Accession to the WTO: The Potential for Trade Increase.” Journal of Comparative Economics, 32(4): 680–699.
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Rydval, Ondřej, and Andreas Ortmann. 2004. “How Financial Incentives and Cognitive Abilities Affect Task Performance in Laboratory Settings: An Illustration.” Economics Letters, 85(3): 315–320.
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Hanousek, Jan, and Randall Filer. 2004. “Consumers' Opinion of Inflation Bias Due to Quality Improvements.” Economic Development and Cultural Change, 53(1): 235–254.
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Engelmann, Dirk, and Martin Strobel. 2004. “Inequality Aversion, Efficiency, and Maximum Preferences in Simple Distribution Experiments.” American Economic Review, 94(4): 857–869.
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Gillman, Max, and Michal Kejak. 2004. “The Demand for Bank Reserves and Other Monetary Aggregates.” Economic Inquiry, 42(3): 518–533.
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Babetskii, Ian, Laurence Boone, and Matilde Maurel. 2004. “Exchange Rate Regimes and Shocks Asymmetry: The Case of the Accession Countries.” Journal of Comparative Economics, 32(2): 212–229.
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Ortmann, Andreas, and Michal Ostatnický. 2004. “Proper Experimental Design and Implementation Are Necessary Conditions for a Balanced Social Psychology.” Behavioral and Brain Sciences, 27(3): 352–353.
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Hanousek, Jan, and Filip Palda. 2004. “Quality of Government Services and the Civic Duty to Pay Taxes in the Czech and Slovak Republics, and Other Transition Countries.” Kyklos, 57(2): 237–252.
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Hanousek, Jan, and Randall Filer. 2004. “Investment, Credit Rationing, and the Soft Budget Constraint: What Would a Well-Functioning Credit Market Look Like?” Economics Letters, 82(3): 385–390.
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