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  Optimization of Monetary Aggregates from the Point of View of the Austrian Monetary Theory - Possibilities and Effects

  The money supply is calculated by different monetary aggregates with a certain structure and scope. The Federal Reserve calculates and publishes two units - M1 and M2. The correct measurement of money supply plays a fundamental role in the conduct of effective monetary policy by central banks. Unfortunately, official monetary aggregates do not ... The money supply is calculated by different monetary aggregates with a certain structure and scope. The Federal Reserve calculates and publishes two units - M1 and M2. The correct measurement of money supply plays a fundamental role in the conduct of effective monetary policy by central banks. Unfortunately, official monetary aggregates do not have a clearly defined theoretical basis in the selection of individual components, which can lead to inaccuracies in their disclosure and management. This makes the current study relevant, through which an optimized monetary aggregate can be presented, based on the Austrian monetary theory. One of the most accurate monetary aggregates is based on the Rothbard-Salerno concept and is referred to in English-language financial theory as True Money Supply (TMS). The monetary instruments that are part of it cover two main criteria - whether they are the final means of payment of all transactions and whether they are a claim to cash that is convertible at face value.

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  The Public Pension System in the Conditions of Covid-19 – Short-Term Effects and Long-Term Challenges

  The emergence and spread of Covid - 19 in late 2019 and early 2020 posed an unexpected challenge to the development and progress of modern society. A series of restrictions aimed at limiting the spread of the disease have had an adverse effect, both economically and socially. Overcoming the unfavourable consequences of the pandemic is becoming a ... The emergence and spread of Covid - 19 in late 2019 and early 2020 posed an unexpected challenge to the development and progress of modern society. A series of restrictions aimed at limiting the spread of the disease have had an adverse effect, both economically and socially. Overcoming the unfavourable consequences of the pandemic is becoming a priority for the development of modern society, engaging a significant amount of public resources and testing the mechanisms of social protection systems. The aim of this study is to highlight the short-term effects and long-term challenges facing the public pension system in pandemic and post-pandemic environments, as a basis for outlining the directions of its development and improvement.

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  Public Attitudes towards European Social Policy (according To ESS 8 Wave)

  Social policy is often overlooked in public discourses over European integration despite that it is a significant instrument for raising its legitimacy. On the basis of systematic analysis of mass attitudes to European unification, measured in the 8th wave of European Social Survey (ESS), this paper shows that in the EC as a whole European tend to ... Social policy is often overlooked in public discourses over European integration despite that it is a significant instrument for raising its legitimacy. On the basis of systematic analysis of mass attitudes to European unification, measured in the 8th wave of European Social Survey (ESS), this paper shows that in the EC as a whole European tend to support the introduction of an all-European scheme for social assistance and to consider that more decisions taken on the supranational level will improve social security for all. At the level of the separate countries the citizens are divided in their preferences for a national or a supranational European social security system. On the individual level, the low-status groups are more inclined to support all-European social measures than the citizens at the higher ranks of the social hierarchy. The expansion of integration towards a more pro-active supranational social policy will secure the support precisely of the groups who today feel left behind in the European project.