The paper seeks to contribute to the empirical analysis of financial uncertainty and investment from a Post Keynesian perspective. The paper uses the volatility of the exchange rate, the volatility of the stock market index, and the real gold price as indicators for financial uncertainty. An increase in the volatility of a variable is a sufficient, but not a necessary condition for an increase in uncertainty (regarding this variable). The effects of changes in uncertainty on investment are investigated econometrically for the USA, the UK, the Netherlands, Germany, and France. Financial uncertainty has significant negative effects in the USA and the Netherlands. (author´s abstract) / Series: Department of Economics Working Paper Series

An increase in the wage share has contradictory effects on the subaggregates of aggregate demand. Private consumption expenditures ought to increase because wage incomes typically are associated with higher consumption propensities than capital incomes. Investment expenditures ought to be negatively affected because investment will positively depend on profits. Net exports will be negatively affected because an increase in the wage share corresponds to an increase in unit labor costs and thus a loss in competitiveness. Theoretically aggregate demand can therefore be either wage led or profit led depending on how these effects add up. The results will crucially depend on how open the economy is internationally. The paper estimates a Post-Kaleckian macro model incorporating these effects for the Euro area and finds that the Euro area is presently in a wage-led demand regime. Implications for wage policies are discussed. (author's abstract) / Series: Department of Economics Working Paper Series

Denna uppsats består av en flerfallstudie som tagits fram i ändamålet att utreda möjliga positiva och negativa konsekvenser i och med etablering av de nya förbifarterna i Söderköping och Bergkvara i Torsås kommun. Syftet med denna uppsats har varit att utreda huruvida förändrade rörelsemönster kan påverka planeringsförutsättningarna för svenska små och mellanstora tätorter. Det som har legat i fokus är centrum- och sällanköpshandeln, näringsliv, bostadsutveckling samt verksamhet- och industrietablering i städerna men främst vid förbifarterna. Det visade sig att kommunerna identifierat liknande konsekvenser men att Söderköping hade djupare analyser om den framtida planeringen. Bergkvara har därför större odds för att påverkas av negativa effekter, framför allt på den nuvarande handeln vid utvecklingen av nytt handelsområde som planeras ske mellan Torsås tätort och Bergkvara tätort. I kommunerna finns en önskan om att möjliggöra för bättre förutsättningar för kollektivtrafik och expressbussar vilket kan öka den regionala pendlingen. Däremot saknas information i form av enkäter eller intervjuer med boende eller verksamma i tätorterna för att ta reda på om det kommer leda till en ökning av människor som åker kollektivt. Vad som märkts utifrån tidigare forskning är att det i stället kan få motsatt effekt, att det sker en ökning i antalet biltrafikanter och att en minskad efterfrågan för kollektiv pendling sker.

The finance-dominated growth regime has affected key macroeconomic variables in several contradictory ways. This paper investigates some of these effects: an increase of rentiers income, housing wealth and net financial wealth on private consumption expenditures and the effects of changes in payments to the rentier by the business on private investment expenditures. A Post-Kaleckian macro model is used as a starting point for this investigation. The paper thus contributes to two debates. First, it aims at clarifying some important macroeconomic effects of financialization. Second, it extends the analysis of distribution-led demand regimes by controlling for financialization variables. / Series: Department of Economics Working Paper Series

III Title: Determinants of Residential Development Prices in Prague Author: David Mazáček Department: Institute of economic studies Diploma Theises Supervisor: PhDr. Pavel Streblov, MSc. Supervisor's e-mail address: streblov@pentainvestmens.cz Abstract: This thesis analyzes the progression and current situation on the Prague new residential development market. The beggining of the thesis is focused on performance of new residential development market in Prague and its comparison with other cities in European union including different housing standards and its economical severity. Performance analysis and current situation on the market indicate the presence of real estate bubble in past years on Prague market. This bubble has even deepened the problems on the market caused by the European economic crisis, however currently there is slow upsarge on the residential real estate market in Prague. Remaining two chapters are focused on relations between performance of residential development price per sqm in Prague and the performance of macroeconomic determinants in the range of income, financing or subsitutionary housing solution. This relation is explored through the econometric model, that explains the average aggregate price per sqm of new residential development in Prague through its macroeconomic...