{"id":5882,"date":"2026-05-01T04:23:58","date_gmt":"2026-05-01T04:23:58","guid":{"rendered":"https:\/\/www.markus-schall.de\/?p=5882"},"modified":"2026-05-01T06:44:25","modified_gmt":"2026-05-01T06:44:25","slug":"jak-pandemie-ukazala-ze-se-ekonomove-mylili-v-otazce-rustu-inflace-a-hospodarskeho-oziveni","status":"publish","type":"post","link":"https:\/\/www.markus-schall.de\/cs\/2026\/05\/jak-pandemie-ukazala-ze-se-ekonomove-mylili-v-otazce-rustu-inflace-a-hospodarskeho-oziveni\/","title":{"rendered":"Jak pandemie uk\u00e1zala, \u017ee se ekonomov\u00e9 m\u00fdlili v ot\u00e1zce inflace, r\u016fstu a hospod\u00e1\u0159sk\u00e9ho o\u017eiven\u00ed"},"content":{"rendered":"<p>Dokonce i b\u011bhem pandemie koronaviru byli mnoz\u00ed ekonomov\u00e9 p\u0159ekvapiv\u011b jednotn\u00ed: velk\u00fdm nebezpe\u010d\u00edm je f\u00e1ze n\u00edzk\u00e9 inflace, mo\u017en\u00e1 dokonce deflace. O n\u011bkolik let pozd\u011bji se uk\u00e1zal jin\u00fd obraz. Inflace dos\u00e1hla v mnoha zem\u00edch historick\u00fdch maxim, dodavatelsk\u00e9 \u0159et\u011bzce se zhroutily a hospod\u00e1\u0159sk\u00fd v\u00fdvoj dopadl jinak, ne\u017e se o\u010dek\u00e1valo.<\/p>\n<p>Pandemie nebyla jen zdravotn\u00ed kriz\u00ed, ale tak\u00e9 zat\u011b\u017ek\u00e1vac\u00ed zkou\u0161kou ekonomick\u00fdch progn\u00f3z. Tento \u010dl\u00e1nek ukazuje, v \u010dem se odborn\u00edci m\u00fdlili, pro\u010d tomu tak bylo a jak\u00e9 pou\u010den\u00ed si lze vz\u00edt pro budouc\u00ed odhady.<!--more--><\/p>\n<p>V\u00edce ne\u017e t\u0159i roky pot\u00e9, co pandemie COVID ot\u0159\u00e1sla sv\u011btovou ekonomikou, si odborn\u00edci st\u00e1le l\u00e1mou hlavu nad t\u00edm, pro\u010d se tolik p\u0159edpov\u011bd\u00ed uk\u00e1zalo jako myln\u00fdch. Pandemie vedla ke ztr\u00e1t\u011b odbytu ve v\u011bt\u0161in\u011b pr\u016fmyslov\u00fdch odv\u011btv\u00ed a cel\u00e9 st\u00e1ty se st\u00e1le sna\u017e\u00ed z\u00edskat zp\u011bt sv\u00e9 d\u0159\u00edv\u011bj\u0161\u00ed postaven\u00ed. V t\u00e9to nejist\u00e9 dob\u011b se ekonomov\u00e9 sna\u017eili p\u0159edpov\u00eddat inflaci, produktivitu a r\u016fst. Dnes si mnoz\u00ed odborn\u00edci uv\u011bdomuj\u00ed, \u017ee n\u00e1padn\u011b velk\u00e1 \u010d\u00e1st p\u0159edpov\u011bd\u00ed byla nep\u0159esn\u00e1. Od t\u00e9 doby se 55 tis\u00edc lid\u00ed <strong><a href=\"https:\/\/economicsnetwork.ac.uk\/research\/understandingecon#:~:text=There%20is%20a%20big%20problem,and%2033%25%20on%20industry%20regulation\" target=\"_blank\" rel=\"noopener\">Ned\u016fv\u011bra v p\u0159edpov\u011bdi ekonom\u016f<\/a><\/strong>, vyvst\u00e1vaj\u00ed v\u00e1\u017en\u00e9 obavy ohledn\u011b jejich metodiky a pou\u017eit\u00ed, kter\u00e9 odhaluj\u00ed omezen\u00ed ekonomick\u00fdch progn\u00f3z v dob\u011b extr\u00e9mn\u00edch zm\u011bn. S ohledem na to budu n\u00ed\u017ee analyzovat a shrnovat p\u0159esnost historick\u00fdch progn\u00f3z.<\/p>\n<hr \/>\n\n\t\t\t<div class=\"display-post-types\">\n\n\t\t\t\t\t\t\t<style type=\"text\/css\">\n\t\t\t#dpt-wrapper-71 { --dpt-text-align: left;--dpt-image-crop: center;--dpt-border-radius: 5px;--dpt-h-gutter: 10px;--dpt-v-gutter: 9px; }\t\t\t<\/style>\n\t\t\t<style type=\"text\/css\">#dpt-wrapper-71 { --dpt-title-font-style:normal;--dpt-title-font-weight:600;--dpt-title-line-height:1.5;--dpt-title-text-decoration:none;--dpt-title-text-transform:none;--dpt-excerpt-font-style:normal;--dpt-excerpt-font-weight:400;--dpt-excerpt-line-height:1.5;--dpt-excerpt-text-decoration:none;--dpt-excerpt-text-transform:none;--dpt-meta1-font-style:normal;--dpt-meta1-font-weight:400;--dpt-meta1-line-height:1.9;--dpt-meta1-text-decoration:none;--dpt-meta1-text-transform:none;--dpt-meta2-font-style:normal;--dpt-meta2-font-weight:400;--dpt-meta2-line-height:1.9;--dpt-meta2-text-decoration:none;--dpt-meta2-text-transform:none; }<\/style><div class=\"dpt-main-header\">\n\t\t\t\t\t\t<div class=\"dpt-main-title\">\n\t\t\t\t\t\t\t<span class=\"dpt-main-title-text\">Aktu\u00e1ln\u00ed \u010dl\u00e1nky o um\u011bn\u00ed a kultu\u0159e<\/span>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t<\/div>\t\t\t\n\t\t\t\t<div id=\"dpt-wrapper-71\" class=\"dpt-wrapper dpt-mag1 land1 dpt-cropped dpt-flex-wrap\" >\n\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"dpt-entry has-thumbnail\" data-title=\"zukunft mit ladeger\u00e4t &#8211; herr von l&#8217;oreot kauft einen e-scooter\" data-id=\"3229\"  data-category=\"allgemein gesellschaft kunst &amp; kultur stories &amp; humor\" data-post_tag=\"erfahrungen\">\n\t\t\t\t\t\t\t<div class=\"dpt-entry-wrapper\"><div class=\"dpt-featured-content\"><div class=\"dpt-permalink\"><a href=\"https:\/\/www.markus-schall.de\/cs\/2025\/10\/budoucnost-s-nabijeckou-pan-von-loreot-si-koupi-elektronicky-skutr\/\" class=\"dpt-permalink\"><span class=\"screen-reader-text\">Budoucnost s nab\u00edje\u010dkou - pan von L'oreot kupuje e-kolob\u011b\u017eku<\/span><\/a><\/div><div class=\"dpt-thumbnail\"><div class=\"dpt-thumbnail-inner\"><img width=\"1024\" height=\"747\" class=\"attachment-full size-full\" alt=\"\" context=\"dpt\" data-dpt-src=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/loereot-e-scooter-1.jpg\" data-dpt-sizes=\"(max-width: 1024px) 100vw, 1024px\" data-dpt-srcset=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/loereot-e-scooter-1.jpg 1024w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/loereot-e-scooter-1-300x219.jpg 300w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/loereot-e-scooter-1-768x560.jpg 768w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/loereot-e-scooter-1-16x12.jpg 16w\" \/><\/div><span class=\"dpt-thumbnail-aspect-ratio\" style=\"padding-top: 75%\"><\/span><\/div><\/div><div class=\"sub-entry\"><h3 class=\"dpt-title\"><a class=\"dpt-title-link\" href=\"https:\/\/www.markus-schall.de\/cs\/2025\/10\/budoucnost-s-nabijeckou-pan-von-loreot-si-koupi-elektronicky-skutr\/\" rel=\"bookmark\">Budoucnost s nab\u00edje\u010dkou - pan von L'oreot kupuje e-kolob\u011b\u017eku<\/a><\/h3><\/div><\/div>\n\t\t\t\t\t\t<\/div><!-- .dpt-entry -->\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"dpt-entry has-thumbnail\" data-title=\"cancel culture im westen: sport, universit\u00e4ten, milit\u00e4r und eu-sanktionen analysiert\" data-id=\"5009\"  data-category=\"allgemein gesellschaft kunst &amp; kultur\" data-post_tag=\"denkmodelle deutschland europa geopolitik krisen meinungsfreiheit sicherheitspolitik spieltheorie\">\n\t\t\t\t\t\t\t<div class=\"dpt-entry-wrapper\"><div class=\"dpt-featured-content\"><div class=\"dpt-permalink\"><a href=\"https:\/\/www.markus-schall.de\/cs\/2026\/02\/zrusit-kulturu-na-zapade-sportovni-univerzity-vojenske-a-eu-sankce-analyzovany\/\" class=\"dpt-permalink\"><span class=\"screen-reader-text\">Zru\u0161it kulturu na Z\u00e1pad\u011b: anal\u00fdza sportu, univerzit, arm\u00e1dy a sankc\u00ed EU<\/span><\/a><\/div><div class=\"dpt-thumbnail\"><div class=\"dpt-thumbnail-inner\"><img width=\"1024\" height=\"683\" class=\"attachment-full size-full\" alt=\"Zru\u0161it kulturu na Z\u00e1pad\u011b\" context=\"dpt\" data-dpt-src=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/Cancel-Culture-Westen.jpg\" data-dpt-sizes=\"(max-width: 1024px) 100vw, 1024px\" data-dpt-srcset=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/Cancel-Culture-Westen.jpg 1024w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Cancel-Culture-Westen-300x200.jpg 300w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Cancel-Culture-Westen-768x512.jpg 768w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Cancel-Culture-Westen-18x12.jpg 18w\" \/><\/div><span class=\"dpt-thumbnail-aspect-ratio\" style=\"padding-top: 75%\"><\/span><\/div><\/div><div class=\"sub-entry\"><h3 class=\"dpt-title\"><a class=\"dpt-title-link\" href=\"https:\/\/www.markus-schall.de\/cs\/2026\/02\/zrusit-kulturu-na-zapade-sportovni-univerzity-vojenske-a-eu-sankce-analyzovany\/\" rel=\"bookmark\">Zru\u0161it kulturu na Z\u00e1pad\u011b: anal\u00fdza sportu, univerzit, arm\u00e1dy a sankc\u00ed EU<\/a><\/h3><\/div><\/div>\n\t\t\t\t\t\t<\/div><!-- .dpt-entry -->\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"dpt-entry has-thumbnail\" data-title=\"was ist der sinn des lebens? religionen, philosophen und helmut thielicke im vergleich\" data-id=\"6071\"  data-category=\"allgemein gesellschaft ki-systeme kunst &amp; kultur stories &amp; humor\" data-post_tag=\"denkmodelle erfahrungen gesundheit krisen k\u00fcnstliche intelligenz meinungsfreiheit pers\u00f6nlichkeitsentwicklung portrait\">\n\t\t\t\t\t\t\t<div class=\"dpt-entry-wrapper\"><div class=\"dpt-featured-content\"><div class=\"dpt-permalink\"><a href=\"https:\/\/www.markus-schall.de\/cs\/2026\/05\/jaky-je-smysl-zivota-nabozenstvi-filozofove-a-helmut-thielicke-ve-srovnani\/\" class=\"dpt-permalink\"><span class=\"screen-reader-text\">Jak\u00fd je smysl \u017eivota? Srovn\u00e1n\u00ed n\u00e1bo\u017eenstv\u00ed, filozof\u016f a Helmuta Thielickeho<\/span><\/a><\/div><div class=\"dpt-thumbnail\"><div class=\"dpt-thumbnail-inner\"><img width=\"1024\" height=\"682\" class=\"attachment-full size-full\" alt=\"Ot\u00e1zka smyslu \u017eivota\" context=\"dpt\" data-dpt-src=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/Sinn-des-Lebens.jpg\" data-dpt-sizes=\"(max-width: 1024px) 100vw, 1024px\" data-dpt-srcset=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/Sinn-des-Lebens.jpg 1024w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Sinn-des-Lebens-300x200.jpg 300w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Sinn-des-Lebens-768x512.jpg 768w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Sinn-des-Lebens-18x12.jpg 18w\" \/><\/div><span class=\"dpt-thumbnail-aspect-ratio\" style=\"padding-top: 75%\"><\/span><\/div><\/div><div class=\"sub-entry\"><h3 class=\"dpt-title\"><a class=\"dpt-title-link\" href=\"https:\/\/www.markus-schall.de\/cs\/2026\/05\/jaky-je-smysl-zivota-nabozenstvi-filozofove-a-helmut-thielicke-ve-srovnani\/\" rel=\"bookmark\">Jak\u00fd je smysl \u017eivota? Srovn\u00e1n\u00ed n\u00e1bo\u017eenstv\u00ed, filozof\u016f a Helmuta Thielickeho<\/a><\/h3><\/div><\/div>\n\t\t\t\t\t\t<\/div><!-- .dpt-entry -->\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"dpt-entry has-thumbnail\" data-title=\"dieter bohlen im klartext: warum deutschland an der eigenen b\u00fcrokratie scheitert\" data-id=\"3546\"  data-category=\"allgemein b\u00fccher gesellschaft kunst &amp; kultur\" data-post_tag=\"buch deutschland erfahrungen krisen meinungsfreiheit musik\">\n\t\t\t\t\t\t\t<div class=\"dpt-entry-wrapper\"><div class=\"dpt-featured-content\"><div class=\"dpt-permalink\"><a href=\"https:\/\/www.markus-schall.de\/cs\/2025\/11\/dieter-bohlen-srozumitelne-o-tom-proc-nemecko-selhava-kvuli-vlastni-byrokracii\/\" class=\"dpt-permalink\"><span class=\"screen-reader-text\">Dieter Bohlen srozumiteln\u011b: Pro\u010d N\u011bmecko selh\u00e1v\u00e1 kv\u016fli vlastn\u00ed byrokracii<\/span><\/a><\/div><div class=\"dpt-thumbnail\"><div class=\"dpt-thumbnail-inner\"><img width=\"1536\" height=\"1024\" class=\"attachment-full size-full\" alt=\"Dieter Bohlen v rozhovoru s Dominikem Kettnerem\" context=\"dpt\" data-dpt-src=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/bohlen-kettner-germany.jpg\" data-dpt-sizes=\"(max-width: 1536px) 100vw, 1536px\" data-dpt-srcset=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/bohlen-kettner-germany.jpg 1536w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/bohlen-kettner-germany-300x200.jpg 300w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/bohlen-kettner-germany-1024x683.jpg 1024w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/bohlen-kettner-germany-768x512.jpg 768w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/bohlen-kettner-germany-18x12.jpg 18w\" \/><\/div><span class=\"dpt-thumbnail-aspect-ratio\" style=\"padding-top: 75%\"><\/span><\/div><\/div><div class=\"sub-entry\"><h3 class=\"dpt-title\"><a class=\"dpt-title-link\" href=\"https:\/\/www.markus-schall.de\/cs\/2025\/11\/dieter-bohlen-srozumitelne-o-tom-proc-nemecko-selhava-kvuli-vlastni-byrokracii\/\" rel=\"bookmark\">Dieter Bohlen srozumiteln\u011b: Pro\u010d N\u011bmecko selh\u00e1v\u00e1 kv\u016fli vlastn\u00ed byrokracii<\/a><\/h3><\/div><\/div>\n\t\t\t\t\t\t<\/div><!-- .dpt-entry -->\n\t\t\t\t\t\t\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\n<hr \/>\n<h2>V\u00fdvoj inflace<\/h2>\n<p>V\u00fdvoj inflace je jednou z oblast\u00ed, v n\u00ed\u017e se nejistota ekonomick\u00fdch progn\u00f3z projevuje obzvl\u00e1\u0161\u0165 v\u00fdrazn\u011b. M\u00e1lokter\u00e9 jin\u00e9 t\u00e9ma bylo v pr\u016fb\u011bhu pandemie diskutov\u00e1no tak intenzivn\u011b - a z\u00e1rove\u0148 hodnoceno tak rozd\u00edln\u011b.<\/p>\n<p>Jedn\u00edm z kl\u00ed\u010dov\u00fdch aspekt\u016f, na kter\u00fd se zam\u011b\u0159ilo mnoho odborn\u00edk\u016f, byla inflace. A\u010dkoli se diskutovalo o tom, zda pandemie povede k vy\u0161\u0161\u00ed, ni\u017e\u0161\u00ed nebo dokonce deflaci, v\u011bt\u0161ina odborn\u00edk\u016f se shodla na tom, \u017ee skute\u010dn\u011b dojde k deflaci. Mnoz\u00ed ekonomov\u00e9 to vysv\u011btlovali vy\u0161\u0161\u00ed nezam\u011bstnanost\u00ed, kter\u00e1 by omezila r\u016fst mezd a vedla k vy\u0161\u0161\u00edm \u00faspor\u00e1m.<\/p>\n<p>Men\u0161ina ekonom\u016f zaujala kriti\u010dt\u011bj\u0161\u00ed postoj a varovala p\u0159ed podce\u0148ov\u00e1n\u00edm infla\u010dn\u00edch rizik. Podle Oliviera Blancharda <a href=\"https:\/\/www.piie.com\/blogs\/realtime-economic-issues-watch\/high-inflation-unlikely-not-impossible-advanced-economies\" target=\"_blank\" rel=\"noopener\"><strong>\u010cl\u00e1nek PIIE z roku 2020<\/strong><\/a> vysok\u00e1 inflace je nepravd\u011bpodobn\u00e1 a nastane pouze ve vz\u00e1cn\u00e9m p\u0159\u00edpad\u011b, kdy se sou\u010dasn\u011b vyskytnou t\u0159i specifick\u00e9 faktory: konzistentn\u00ed vl\u00e1dn\u00ed dluh, investo\u0159i po\u017eaduj\u00edc\u00ed vy\u0161\u0161\u00ed \u00farokov\u00e9 sazby a tlak vl\u00e1dy na centr\u00e1ln\u00ed banky, aby udr\u017eovaly n\u00edzk\u00e9 \u00farokov\u00e9 sazby. P\u0159esto\u017ee Blanchard tuto pravd\u011bpodobnost odhadoval na m\u00e9n\u011b ne\u017e 3 %, nepravd\u011bpodobn\u00e9 se v mnoha zem\u00edch stalo skute\u010dnost\u00ed.<\/p>\n<hr \/>\n<h3>Aktu\u00e1ln\u00ed pr\u016fzkum d\u016fv\u011bry v politiku a m\u00e9dia<\/h3>\n<div class='bootstrap-yop yop-poll-mc'>\n\t\t\t\t\t\t\t<div class=\"basic-yop-poll-container\" style=\"background-color:#ffffff; border:0px; border-style:solid; border-color:#000000; border-radius:5px; padding:0px 5px;\" data-id=\"1\" data-temp=\"basic-pretty\" data-skin=\"square\" data-cscheme=\"blue\" data-cap=\"0\" data-access=\"guest\" data-tid=\"\" data-uid=\"8fc0c3f19bf2a852838a4309fd992f3e\" data-pid=\"3546\" data-resdet=\"votes-number,percentages\" data-show-results-to=\"guest\" data-show-results-moment=\"after-vote\" data-show-results-only=\"false\" data-show-message=\"true\" data-show-results-as=\"bar\" data-sort-results-by=\"as-defined\" data-sort-results-rule=\"asc\"data-is-ended=\"0\" data-percentages-decimals=\"2\" data-gdpr=\"no\" data-gdpr-sol=\"consent\" data-css=\"\" data-counter=\"0\" data-load-with=\"1\" data-notification-section=\"top\"><div class=\"row\"><div class=\"col-md-12\"><div class=\"basic-inner\"><div class=\"basic-message hide\" style=\"border-left: 10px solid #008000; padding: 0px 10px;\" data-error=\"#ff0000\" data-success=\"#008000\"><p class=\"basic-message-text\" style=\"color:#000000; font-size:14px; font-weight:normal;\"><\/p><\/div><div class=\"basic-overlay hide\"><div class=\"basic-vote-options\"><\/div><div class=\"basic-preloader\"><div class=\"basic-windows8\"><div class=\"basic-wBall basic-wBall_1\"><div class=\"basic-wInnerBall\"><\/div><\/div><div class=\"basic-wBall basic-wBall_2\"><div class=\"basic-wInnerBall\"><\/div><\/div><div class=\"basic-wBall basic-wBall_3\"><div class=\"basic-wInnerBall\"><\/div><\/div><div class=\"basic-wBall basic-wBall_4\"><div class=\"basic-wInnerBall\"><\/div><\/div><div class=\"basic-wBall basic-wBall_5\"><div class=\"basic-wInnerBall\"><\/div><\/div><\/div><\/div><\/div><form class=\"basic-form\" action=\"\"><input type=\"hidden\" name=\"_token\" value=\"5c9da0c686\" autocomplete=\"off\"><div class=\"basic-elements\"><div class=\"basic-element basic-question basic-question-text-vertical\" data-id=\"1\" data-uid=\"9843b15f2cd838496a51f1c4d9f88ded\" data-type=\"question\" data-question-type=\"text\" data-required=\"yes\" data-allow-multiple=\"no\" data-min=\"1\" data-max=\"1\" data-display=\"vertical\" data-colnum=\"\" data-display-others=\"no\" data-others-color=\"\" data-others=\"\" data-others-max-chars=\"0\"><div class=\"basic-question-title\"><h5 style=\"color:#000000; font-size:16px; font-weight:normal; text-align:left;\">Jakou d\u016fv\u011bru m\u00e1te v politiku a m\u00e9dia v N\u011bmecku?<\/h5><\/div><ul class=\"basic-answers\"><li class=\"basic-answer\" style=\"padding:0px 0px;\" data-id=\"1\" data-type=\"text\" data-vn=\"11\" data-color=\"#000000\" data-make-link=\"no\" data-link=\"\"><div class=\"basic-answer-content basic-text-vertical\"><label for=\"answer[1]\" class=\"basic-answer-label\"><input type=\"radio\" id=\"answer[1]\" name=\"answer[1]\" value=\"1\"><span class=\"basic-text\" style=\"color: #000000; font-size: 14px; font-weight: normal;\">Velmi vysok\u00e1 - pln\u011b d\u016fv\u011b\u0159uji ofici\u00e1ln\u00edm org\u00e1n\u016fm<\/span><\/label><\/div><\/li><li class=\"basic-answer\" style=\"padding:0px 0px;\" data-id=\"2\" data-type=\"text\" data-vn=\"29\" data-color=\"#000000\" data-make-link=\"no\" data-link=\"\"><div class=\"basic-answer-content basic-text-vertical\"><label for=\"answer[2]\" class=\"basic-answer-label\"><input type=\"radio\" id=\"answer[2]\" name=\"answer[1]\" value=\"2\"><span class=\"basic-text\" style=\"color: #000000; font-size: 14px; font-weight: normal;\">St\u0159edn\u00ed - Jsem opatrn\u00fd, ale ne z\u00e1sadn\u011b podez\u0159\u00edvav\u00fd.<\/span><\/label><\/div><\/li><li class=\"basic-answer\" style=\"padding:0px 0px;\" data-id=\"3\" data-type=\"text\" data-vn=\"57\" data-color=\"#000000\" data-make-link=\"no\" data-link=\"\"><div class=\"basic-answer-content basic-text-vertical\"><label for=\"answer[3]\" class=\"basic-answer-label\"><input type=\"radio\" id=\"answer[3]\" name=\"answer[1]\" value=\"3\"><span class=\"basic-text\" style=\"color: #000000; font-size: 14px; font-weight: normal;\">N\u00edzk\u00e1 - mnoho v\u011bc\u00ed si kontroluji s\u00e1m<\/span><\/label><\/div><\/li><li class=\"basic-answer\" style=\"padding:0px 0px;\" data-id=\"4\" data-type=\"text\" data-vn=\"259\" data-color=\"#000000\" data-make-link=\"no\" data-link=\"\"><div class=\"basic-answer-content basic-text-vertical\"><label for=\"answer[4]\" class=\"basic-answer-label\"><input type=\"radio\" id=\"answer[4]\" name=\"answer[1]\" value=\"4\"><span class=\"basic-text\" style=\"color: #000000; font-size: 14px; font-weight: normal;\">T\u00e9m\u011b\u0159 neexistuj\u00edc\u00ed - domn\u00edv\u00e1m se, \u017ee mnoh\u00e9 je zast\u0159en\u00e9 nebo zinscenovan\u00e9.<\/span><\/label><\/div><\/li><\/ul><\/div><div class=\"clearfix\"><\/div><\/div><div class=\"basic-vote\"><a href=\"#\" class=\"button basic-vote-button\" role=\"button\" style=\"background:#027bb8; border:0px; border-style: solid; border-color:#1636f0; border-radius:5px; padding:10px 10px; color:#ffffff; font-size:14px; font-weight:normal;\">Hlasujte na<\/a><\/div><input type=\"hidden\" name=\"trp-form-language\" value=\"cs\"\/><\/form><\/div><\/div><\/div><\/div>\n\t\t\t\t\t\t<\/div>\n<hr \/>\n<p>S pr\u016fm\u011brnou m\u00edrou inflace 8 % dos\u00e1hly USA nejvy\u0161\u0161\u00ed \u00farovn\u011b od po\u010d\u00e1tku 80. let. D\u016fvodem byly p\u0159edev\u0161\u00edm poruchy v dodavatelsk\u00fdch \u0159et\u011bzc\u00edch. Zejm\u00e9na v\u00fdluky donutily uzav\u0159\u00edt mnoho tov\u00e1ren, co\u017e vedlo k nejistot\u011b v hospod\u00e1\u0159sk\u00e9 aktivit\u011b a m\u011blo za n\u00e1sledek ztr\u00e1ty ve v\u00fdrob\u011b r\u016fzn\u00e9ho pr\u016fmyslov\u00e9ho zbo\u017e\u00ed.<\/p>\n<p>Dal\u0161\u00edm faktorem, kter\u00fd p\u0159isp\u011bl k vy\u0161\u0161\u00ed inflaci, byly n\u00e1hl\u00e9 zm\u011bny spot\u0159ebitelsk\u00fdch preferenc\u00ed. B\u011bhem pandemie mnoho dom\u00e1cnost\u00ed omezilo sv\u00e9 v\u00fddaje na nepot\u0159ebn\u00e9 zbo\u017e\u00ed. Odhaduje se, \u017ee pandemie byla p\u0159\u00ed\u010dinou sn\u00ed\u017een\u00ed b\u011b\u017en\u00fdch v\u00fddaj\u016f dom\u00e1cnost\u00ed o <a href=\"https:\/\/www.ons.gov.uk\/peoplepopulationandcommunity\/personalandhouseholdfinances\/expenditure\/articles\/morethanonefifthofusualhouseholdspendinghasbeenlargelypreventedduringlockdown\/2020-06-11\" target=\"_blank\" rel=\"noopener\"><strong>asi jedna p\u011btina odpov\u011bdnosti<\/strong><\/a>. Po skon\u010den\u00ed v\u00fdluky do\u0161lo k obrovsk\u00e9mu n\u00e1r\u016fstu popt\u00e1vky po mnoha nov\u00fdch, obvykle pr\u016fmyslov\u011b vyr\u00e1b\u011bn\u00fdch produktech.<\/p>\n<p>P\u0159i zp\u011btn\u00e9m pohledu je z\u0159ejm\u00e9, \u017ee na situaci m\u011blo vliv n\u011bkolik ud\u00e1lost\u00ed sou\u010dasn\u011b: naru\u0161en\u00ed dodavatelsk\u00fdch \u0159et\u011bzc\u016f, vl\u00e1dn\u00ed z\u00e1sahy, zm\u011bny v chov\u00e1n\u00ed spot\u0159ebitel\u016f a celkov\u011b vysok\u00e1 m\u00edra nejistoty. Pr\u00e1v\u011b tato kombinace byla v mnoha progn\u00f3z\u00e1ch podcen\u011bna. V\u00fdvoj inflace b\u011bhem pandemie a po n\u00ed tak ukazuje, jak obt\u00ed\u017en\u00e9 je spolehliv\u011b p\u0159edv\u00eddat ekonomickou dynamiku za v\u00fdjime\u010dn\u00fdch podm\u00ednek.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-5884\" src=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/Pandemie-Oekonomen-Wirtschaft-Gleichgewicht.jpg\" alt=\"Ekonomick\u00e1 rovnov\u00e1ha\" width=\"1024\" height=\"682\" srcset=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/Pandemie-Oekonomen-Wirtschaft-Gleichgewicht.jpg 1024w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Pandemie-Oekonomen-Wirtschaft-Gleichgewicht-300x200.jpg 300w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Pandemie-Oekonomen-Wirtschaft-Gleichgewicht-768x512.jpg 768w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Pandemie-Oekonomen-Wirtschaft-Gleichgewicht-18x12.jpg 18w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<h2>Hospod\u00e1\u0159sk\u00fd r\u016fst<\/h2>\n<p>Pokud jde o hospod\u00e1\u0159sk\u00fd r\u016fst, tak\u00e9 se brzy uk\u00e1zalo, jak obt\u00ed\u017en\u00e9 je ve v\u00fdjime\u010dn\u00fdch podm\u00ednk\u00e1ch vytv\u00e1\u0159et spolehliv\u00e9 progn\u00f3zy. Mnoh\u00e9 p\u0159edpoklady se zpo\u010d\u00e1tku zd\u00e1ly b\u00fdt v\u011brohodn\u00e9 - ale na skute\u010dn\u00e9m v\u00fdvoji se potvrdily jen z\u010d\u00e1sti. A\u010dkoli se nep\u0159edpokl\u00e1dalo, \u017ee r\u016fst HDP z\u016fstane konstantn\u00ed, mnoho ekonom\u016f spekulovalo o ni\u017e\u0161\u00edm dlouhodob\u00e9m trendu, p\u0159i\u010dem\u017e n\u011bkte\u0159\u00ed kontroverzn\u011b p\u0159edpov\u00eddali prudk\u00fd pokles n\u00e1sledovan\u00fd rychl\u00fdm o\u017eiven\u00edm.<\/p>\n<p>V sou\u010dasn\u00e9 dob\u011b je v\u011bt\u0161ina evropsk\u00fdch zem\u00ed st\u00e1le pod \u00farovn\u00ed trend\u016f p\u0159ed pandemi\u00ed koronaviru a zaznamen\u00e1v\u00e1 pomalej\u0161\u00ed r\u016fst ne\u017e p\u0159ed pandemi\u00ed. Jednou z m\u00e1la v\u00fdjimek jsou v tomto ohledu USA, kter\u00e9 se na rozd\u00edl od N\u011bmecka a Kanady ji\u017e n\u011bjakou dobu vracej\u00ed na \u00farove\u0148 p\u0159ed pandemi\u00ed.<\/p>\n<p>V USA je d\u00edky pru\u017en\u011bj\u0161\u00edmu trhu pr\u00e1ce mnohem snaz\u0161\u00ed p\u0159ech\u00e1zet mezi r\u016fzn\u00fdmi odv\u011btv\u00edmi. Vy\u0161\u0161\u00ed v\u00fddaje a <a href=\"https:\/\/www.piie.com\/research\/piie-charts\/pandemic-led-consumers-spend-more-goods-less-services#:~:text=The%20pandemic%20has%20forced%20countless,data%20tell%20us%20about%202020\" target=\"_blank\" rel=\"noopener\"><strong>Investice obyvatelstva a podnik\u016f<\/strong><\/a> podpo\u0159il hospod\u00e1\u0159sk\u00e9 o\u017eiven\u00ed zem\u011b. Krom\u011b toho byly USA m\u00e9n\u011b vystaveny vn\u011bj\u0161\u00edm \u0161ok\u016fm ne\u017e v\u011bt\u0161ina evropsk\u00fdch zem\u00ed. Evropu nap\u0159\u00edklad t\u011b\u017ece zas\u00e1hl \u00fatok na Ukrajinu a s n\u00edm spojen\u00e1 energetick\u00e1 krize.<\/p>\n<p>V USA zajistila vl\u00e1dn\u00ed opat\u0159en\u00ed, jako je rozs\u00e1hl\u00e1 finan\u010dn\u00ed podpora v podob\u011b d\u00e1vek v nezam\u011bstnanosti a podpory podnik\u00e1n\u00ed, mnohem rychlej\u0161\u00ed o\u017eiven\u00ed, zat\u00edmco podniky v ostatn\u00edch zem\u00edch dostaly t\u00e9to podpory podstatn\u011b m\u00e9n\u011b. Programy jako z\u00e1kon o sn\u00ed\u017een\u00ed inflace a z\u00e1kon CHIPS, oba p\u0159ijat\u00e9 v roce 2022, zajistily r\u016fst v kl\u00ed\u010dov\u00fdch odv\u011btv\u00edch, jako je dom\u00e1c\u00ed v\u00fdroba a zelen\u00e1 energie, prost\u0159ednictv\u00edm zv\u00fd\u0161en\u00fdch investic.<\/p>\n<p>Celkov\u011b je z\u0159ejm\u00e9, \u017ee hospod\u00e1\u0159sk\u00e9 o\u017eiven\u00ed je do zna\u010dn\u00e9 m\u00edry z\u00e1visl\u00e9 na struktur\u00e1ln\u00edch podm\u00ednk\u00e1ch: Pru\u017enost trhu pr\u00e1ce, vl\u00e1dn\u00ed z\u00e1sahy a vn\u011bj\u0161\u00ed tlaky na sebe r\u016fzn\u011b p\u016fsob\u00ed a vedou ke zna\u010dn\u011b odli\u0161n\u00e9mu v\u00fdvoji v jednotliv\u00fdch regionech. Progn\u00f3zy, kter\u00e9 tyto rozd\u00edly dostate\u010dn\u011b nezohled\u0148uj\u00ed, v praxi rychle naraz\u00ed na sv\u00e9 limity.<\/p>\n<p>Kr\u00e1tk\u00fd \u010dl\u00e1nek z roku 2021 ukazuje, \u017ee ekonomick\u00fd dopad pandemie byl na po\u010d\u00e1tku vyhodnocen jinak, ne\u017e se p\u016fvodn\u011b p\u0159edpokl\u00e1dalo.<\/p>\n<div class=\"lyte-wrapper\" style=\"width:640px;max-width:100%;margin:5px;\"><div class=\"lyMe\" id=\"WYL_za7AsS4z2Fc\"><div id=\"lyte_za7AsS4z2Fc\" data-src=\"https:\/\/www.markus-schall.de\/wp-content\/plugins\/wp-youtube-lyte\/lyteCache.php?origThumbUrl=%2F%2Fi.ytimg.com%2Fvi%2Fza7AsS4z2Fc%2Fhqdefault.jpg\" class=\"pL\"><div class=\"tC\"><div class=\"tT\"><\/div><\/div><div class=\"play\"><\/div><div class=\"ctrl\"><div class=\"Lctrl\"><\/div><div class=\"Rctrl\"><\/div><\/div><\/div><noscript><a href=\"https:\/\/youtu.be\/za7AsS4z2Fc\" rel=\"nofollow noopener\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.markus-schall.de\/wp-content\/plugins\/wp-youtube-lyte\/lyteCache.php?origThumbUrl=https%3A%2F%2Fi.ytimg.com%2Fvi%2Fza7AsS4z2Fc%2F0.jpg\" alt=\"Miniatura videa na YouTube\" width=\"640\" height=\"340\" \/><br \/>Pod\u00edvejte se na toto video na YouTube<\/a><\/noscript><\/div><\/div><div class=\"lL\" style=\"max-width:100%;width:640px;margin:5px;\"><\/div><br \/>\nPandemie korony: n\u011bmeck\u00e1 ekonomika zasa\u017eena v\u00edce, ne\u017e se o\u010dek\u00e1valo | <a href=\"https:\/\/www.youtube.com\/@faz\" target=\"_blank\" rel=\"nofollow noopener\">faz<\/a><\/p>\n<h2>Zm\u011bny v produktivit\u011b<\/h2>\n<p>B\u011bhem pandemie se tak\u00e9 intenzivn\u011b diskutovalo o v\u00fdvoji produktivity. Mnoz\u00ed pozorovatel\u00e9 vid\u011bli krizi nejen jako z\u00e1t\u011b\u017e, ale tak\u00e9 jako p\u0159\u00edle\u017eitost pro struktur\u00e1ln\u00ed zlep\u0161en\u00ed - zejm\u00e9na prost\u0159ednictv\u00edm urychlen\u00e9 digitalizace.<\/p>\n<p>Mnoz\u00ed odborn\u00edci se nav\u00edc domn\u00edvali, \u017ee pandemie COVID-19 povede ke zv\u00fd\u0161en\u00ed produktivity podnik\u016f, proto\u017ee budou nuceny rychleji investovat do digitalizace. Ve skute\u010dnosti byla produktivita ve druh\u00e9m \u010dtvrtlet\u00ed roku 2020 o 11,1 % vy\u0161\u0161\u00ed ne\u017e ve \u010dtvrt\u00e9m \u010dtvrtlet\u00ed roku 2019, co\u017e v\u0161ak bylo \u010d\u00e1ste\u010dn\u011b zp\u016fsobeno uzav\u0159en\u00edm odv\u011btv\u00ed s ni\u017e\u0161\u00ed produktivitou, jako je maloobchod, co\u017e v\u00fdrazn\u011b zv\u00fd\u0161ilo pod\u00edl vysoce produktivn\u00edch odv\u011btv\u00ed, jako je finan\u010dnictv\u00ed a zpracovatelsk\u00fd pr\u016fmysl.<\/p>\n<p>K tomuto n\u00e1r\u016fstu z\u00e1rove\u0148 p\u0159isp\u011bla skute\u010dnost, \u017ee zam\u011bstnanci p\u0159e\u0161li z odv\u011btv\u00ed s n\u00edzkou produktivitou do odv\u011btv\u00ed s vy\u0161\u0161\u00ed produktivitou. Kdy\u017e se po pandemii znovu otev\u0159el sektor slu\u017eeb, tento efekt se op\u011bt sn\u00ed\u017eil. Podle anal\u00fdzy ECB p\u0159edstavoval pozitivn\u00ed efekt realokace pracovn\u00edch sil v roce 2020 p\u0159ibli\u017en\u011b polovinu celkov\u00e9ho r\u016fstu produktivity v letech 2020 a\u017e 2023.<\/p>\n<p>To ukazuje, \u017ee kr\u00e1tkodob\u00e9 zv\u00fd\u0161en\u00ed produktivity je \u010dasto zp\u016fsobeno sp\u00ed\u0161e efekty slo\u017een\u00ed ne\u017e skute\u010dn\u00fdm zv\u00fd\u0161en\u00edm efektivity, co\u017e mnoh\u00e9 progn\u00f3zy dostate\u010dn\u011b nezohled\u0148uj\u00ed.<\/p>\n<p>P\u0159i zp\u011btn\u00e9m pohledu je z\u0159ejm\u00e9, \u017ee ne ka\u017ed\u00e9 nam\u011b\u0159en\u00e9 zv\u00fd\u0161en\u00ed produktivity automaticky znamen\u00e1 trval\u00e9 zlep\u0161en\u00ed. Zejm\u00e9na ve v\u00fdjime\u010dn\u00fdch situac\u00edch mohou statistick\u00e9 efekty poskytovat zkreslen\u00fd obraz, pokud jsou struktur\u00e1ln\u00ed zm\u011bny pouze do\u010dasn\u00e9 povahy.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-5885\" src=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/Pandemie-Oekonomen-Produktivitaet-Wachstum.jpg\" alt=\"Produktivita, r\u016fst a \u00farove\u0148 zadlu\u017een\u00ed\" width=\"1024\" height=\"682\" srcset=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/Pandemie-Oekonomen-Produktivitaet-Wachstum.jpg 1024w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Pandemie-Oekonomen-Produktivitaet-Wachstum-300x200.jpg 300w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Pandemie-Oekonomen-Produktivitaet-Wachstum-768x512.jpg 768w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Pandemie-Oekonomen-Produktivitaet-Wachstum-18x12.jpg 18w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<h2>\u00darove\u0148 zadlu\u017een\u00ed<\/h2>\n<p>Dal\u0161\u00edm kl\u00ed\u010dov\u00fdm aspektem hospod\u00e1\u0159sk\u00e9ho v\u00fdvoje b\u011bhem pandemie byl prudk\u00fd n\u00e1r\u016fst zadlu\u017een\u00ed v mnoha zem\u00edch. Snad \u017e\u00e1dn\u00e1 jin\u00e1 oblast nebyla diskutov\u00e1na tak intenzivn\u011b, proto\u017ee kr\u00e1tkodob\u00e1 stabilizace a dlouhodob\u00e1 rizika se zde dostaly do p\u0159\u00edm\u00e9ho st\u0159etu.<\/p>\n<p>O rostouc\u00edm zadlu\u017een\u00ed se vedly rozs\u00e1hl\u00e9 debaty a p\u0159evl\u00e1daj\u00edc\u00ed n\u00e1zor se uk\u00e1zal b\u00fdt do zna\u010dn\u00e9 m\u00edry spr\u00e1vn\u00fd. Mnoho vl\u00e1d se b\u011bhem pandemie obrovsky zadlu\u017eilo, aby financovaly finan\u010dn\u00ed opat\u0159en\u00ed na podporu ekonomiky a zabr\u00e1nily dal\u0161\u00edm kolaps\u016fm. Odhaduje se, \u017ee pom\u011br ve\u0159ejn\u00e9ho dluhu k HDP vzrostl z 88 % v roce 2019 na 105 % v roce 2020.<\/p>\n<p>A\u010dkoli mnoz\u00ed ekonomov\u00e9 tradi\u010dn\u011b pova\u017eovali vy\u0161\u0161\u00ed zadlu\u017een\u00ed za hrozbu pro ekonomiku, prosadil se n\u00e1zor, \u017ee vy\u0161\u0161\u00ed zadlu\u017een\u00ed m\u016f\u017ee b\u00fdt \u00fa\u010dinn\u00fdm prost\u0159edkem stabilizace cel\u00fdch ekonomik. Zejm\u00e9na v\u00fdchodoasijsk\u00e9 a tichomo\u0159sk\u00e9 zem\u011b byly posti\u017eeny kv\u016fli ji\u017e d\u0159\u00edve existuj\u00edc\u00ed vysok\u00e9 \u00farovni zadlu\u017een\u00ed, kter\u00e9 se zv\u00fd\u0161ilo o 26 procentn\u00edch bod\u016f HDP. Dal\u0161\u00ed regiony byly d\u00e1le ovlivn\u011bny omezen\u00fdm p\u0159\u00edstupem na dom\u00e1c\u00ed trhy, co\u017e nutilo vl\u00e1dy p\u016fj\u010dovat si v zahrani\u010d\u00ed, a poklesem produkce a p\u0159\u00edjm\u016f, zejm\u00e9na ve v\u011bt\u0161in\u011b vysp\u011bl\u00fdch ekonomik a na Bl\u00edzk\u00e9m v\u00fdchod\u011b.<\/p>\n<p>V n\u011bkter\u00fdch africk\u00fdch zem\u00edch do\u0161lo k v\u00fdrazn\u00e9mu n\u00e1r\u016fstu zadlu\u017een\u00ed, a to p\u0159edev\u0161\u00edm kv\u016fli jejich velk\u00e9 z\u00e1vislosti na mezin\u00e1rodn\u00ed pomoci a omezen\u00e9mu fisk\u00e1ln\u00edmu prostoru. Nap\u0159\u00edklad vysok\u00fd dluh Sierry Leone, kter\u00fd byl p\u016fvodn\u011b zp\u016fsoben kriz\u00ed zp\u016fsobenou ebolou v letech 2014 a 2015, se d\u00e1le v\u00fdrazn\u011b zvy\u0161oval v d\u016fsledku zadlu\u017eov\u00e1n\u00ed b\u011bhem pandemie COVID, co\u017e vedlo k v\u00fdrazn\u00fdm \u0161krt\u016fm ve ve\u0159ejn\u00fdch v\u00fddaj\u00edch.<\/p>\n<p>I kdy\u017e Evropa nebyla posti\u017eena tak siln\u011b jako mnoho jin\u00fdch region\u016f, pandemie p\u0159esto zp\u016fsobila zna\u010dn\u00e9 hospod\u00e1\u0159sk\u00e9 \u0161kody a vysokou m\u00edru zadlu\u017een\u00ed a pravd\u011bpodobn\u011b bude i nad\u00e1le omezovat soci\u00e1ln\u00ed v\u00fddaje a investice soukrom\u00e9ho sektoru.<\/p>\n<p>Celkov\u011b je z\u0159ejm\u00e9, \u017ee st\u00e1tn\u00ed dluh m\u016f\u017ee b\u00fdt nezbytn\u00fdm n\u00e1strojem k zaji\u0161t\u011bn\u00ed hospod\u00e1\u0159sk\u00e9 stability v dob\u011b krize. Z\u00e1rove\u0148 je st\u00e1le obt\u00ed\u017en\u00e9 posoudit dlouhodob\u00e9 d\u016fsledky tohoto v\u00fdvoje, kter\u00e9 budou charakterizovat rozsah finan\u010dn\u00ed politiky mnoha zem\u00ed v n\u00e1sleduj\u00edc\u00edch letech.<\/p>\n<div style=\"overflow-x: auto;\">\n<table style=\"width: 100%; border-collapse: collapse;\">\n<tbody>\n<tr style=\"background-color: #f2f2f2;\">\n<th style=\"border: 1px solid #ccc; padding: 8px; text-align: left;\">Rozsah<\/th>\n<th style=\"border: 1px solid #ccc; padding: 8px; text-align: left;\">O\u010dek\u00e1v\u00e1n\u00ed mnoha ekonom\u016f<\/th>\n<th style=\"border: 1px solid #ccc; padding: 8px; text-align: left;\">Aktu\u00e1ln\u00ed v\u00fdvoj a v\u00fduka<\/th>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #ccc; padding: 8px;\"><strong>Inflace<\/strong><\/td>\n<td style=\"border: 1px solid #ccc; padding: 8px;\">Mnoz\u00ed odborn\u00edci o\u010dek\u00e1vaj\u00ed n\u00edzkou inflaci nebo dokonce deflaci, proto\u017ee nezam\u011bstnanost a nejistota by m\u011bly tlumit popt\u00e1vku.<\/td>\n<td style=\"border: 1px solid #ccc; padding: 8px;\">Naru\u0161en\u00ed dodavatelsk\u00e9ho \u0159et\u011bzce, zm\u011bny v chov\u00e1n\u00ed spot\u0159ebitel\u016f a vl\u00e1dn\u00ed opat\u0159en\u00ed vedly k prudk\u00e9mu n\u00e1r\u016fstu cen. Pou\u010den\u00ed: probl\u00e9my s dod\u00e1vkami mohou rychle zvr\u00e1tit progn\u00f3zy.<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #ccc; padding: 8px;\"><strong>Hospod\u00e1\u0159sk\u00fd r\u016fst<\/strong><\/td>\n<td style=\"border: 1px solid #ccc; padding: 8px;\">Mnoh\u00e9 progn\u00f3zy p\u0159edpov\u00eddaly v\u00fdrazn\u00fd propad a nejist\u00e9, v n\u011bkter\u00fdch p\u0159\u00edpadech slab\u0161\u00ed o\u017eiven\u00ed v dlouhodob\u00e9m horizontu.<\/td>\n<td style=\"border: 1px solid #ccc; padding: 8px;\">O\u017eiven\u00ed se v jednotliv\u00fdch regionech zna\u010dn\u011b li\u0161ilo. USA se vr\u00e1tily rychleji ne\u017e mnoh\u00e9 evropsk\u00e9 zem\u011b. Pou\u010den\u00ed: kl\u00ed\u010dov\u00fd je trh pr\u00e1ce, energetick\u00e1 z\u00e1vislost a vl\u00e1dn\u00ed podpora.<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #ccc; padding: 8px;\"><strong>Produktivita<\/strong><\/td>\n<td style=\"border: 1px solid #ccc; padding: 8px;\">N\u011bkte\u0159\u00ed odborn\u00edci o\u010dek\u00e1vaj\u00ed, \u017ee digitalizace a nov\u00e9 formy pr\u00e1ce povedou k trval\u00e9mu zv\u00fd\u0161en\u00ed produktivity.<\/td>\n<td style=\"border: 1px solid #ccc; padding: 8px;\">\u010c\u00e1st n\u00e1r\u016fstu byla zp\u016fsobena vlivy slo\u017een\u00ed, nap\u0159\u00edklad v d\u016fsledku uzav\u0159en\u00fdch odv\u011btv\u00ed s ni\u017e\u0161\u00ed produktivitou. Pou\u010den\u00ed: ne ka\u017ed\u00fd nam\u011b\u0159en\u00fd n\u00e1r\u016fst je skute\u010dn\u00fdm pokrokem.<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #ccc; padding: 8px;\"><strong>Ve\u0159ejn\u00fd dluh<\/strong><\/td>\n<td style=\"border: 1px solid #ccc; padding: 8px;\">Mnoz\u00ed ekonomov\u00e9 o\u010dek\u00e1vali v\u00fdrazn\u00fd n\u00e1r\u016fst dluhu v d\u016fsledku rozs\u00e1hl\u00fdch program\u016f pomoci.<\/td>\n<td style=\"border: 1px solid #ccc; padding: 8px;\">Toto hodnocen\u00ed se do zna\u010dn\u00e9 m\u00edry potvrdilo. Pou\u010den\u00ed: dluh se m\u016f\u017ee v kriz\u00edch stabilizovat, ale v dlouhodob\u00e9m horizontu omezuje mo\u017enosti fisk\u00e1ln\u00ed politiky.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h2>D\u016fle\u017eit\u00e1 zji\u0161t\u011bn\u00ed<\/h2>\n<p>Souhrnn\u011b lze \u0159\u00edci, \u017ee mnoh\u00e9 ekonomick\u00e9 p\u0159edpov\u011bdi b\u011bhem pandemie byly p\u0159esn\u00e9 jen \u010d\u00e1ste\u010dn\u011b. A\u010dkoli jednotliv\u00e9 p\u0159edpoklady nebyly z\u00e1sadn\u011b chybn\u00e9, soub\u011b\u017en\u00fd dopad n\u011bkolika faktor\u016f byl \u010dasto podhodnocen. Pr\u00e1v\u011b to je jedno z kl\u00ed\u010dov\u00fdch pou\u010den\u00ed z tohoto obdob\u00ed.<\/p>\n<p>Jak inflace, tak hospod\u00e1\u0159sk\u00fd r\u016fst a produktivita uk\u00e1zaly, \u017ee hospod\u00e1\u0159sk\u00fd v\u00fdvoj se z\u0159\u00eddkakdy odehr\u00e1v\u00e1 izolovan\u011b. Probl\u00e9my v dodavatelsk\u00e9m \u0159et\u011bzci, vl\u00e1dn\u00ed z\u00e1sahy, zm\u011bny v chov\u00e1n\u00ed spot\u0159ebitel\u016f a struktur\u00e1ln\u00ed rozd\u00edly mezi n\u00e1rodn\u00edmi ekonomikami se vz\u00e1jemn\u011b prol\u00ednaly a vedly k v\u00fdsledk\u016fm, kter\u00e9 se v t\u00e9to podob\u011b daly jen st\u011b\u017e\u00ed p\u0159edv\u00eddat. To se uk\u00e1zalo zejm\u00e9na v p\u0159\u00edpad\u011b inflace, jej\u00ed\u017e dynamiku mnoh\u00e9 modely nedok\u00e1zaly zobrazit.<\/p>\n<p>Uk\u00e1zalo se tak\u00e9, do jak\u00e9 m\u00edry hraj\u00ed p\u0159i hospod\u00e1\u0159sk\u00e9m r\u016fstu roli institucion\u00e1ln\u00ed r\u00e1mcov\u00e9 podm\u00ednky. Zem\u011b s pru\u017en\u011bj\u0161\u00edmi trhy pr\u00e1ce a rozs\u00e1hl\u00fdmi vl\u00e1dn\u00edmi podp\u016frn\u00fdmi opat\u0159en\u00edmi se dok\u00e1zaly zotavit rychleji ne\u017e ostatn\u00ed. V\u00fdvoj produktivity z\u00e1rove\u0148 uk\u00e1zal, \u017ee kr\u00e1tkodob\u00e9 efekty jsou \u010dasto p\u0159ece\u0148ov\u00e1ny, pokud jsou zalo\u017eeny na statistick\u00fdch posunech, a nikoli na udr\u017eiteln\u00e9m zlep\u0161en\u00ed.<\/p>\n<p>Rostouc\u00ed ve\u0159ejn\u00fd dluh zase zd\u016fraz\u0148uje nap\u011bt\u00ed mezi kr\u00e1tkodobou stabilizac\u00ed a dlouhodobou udr\u017eitelnost\u00ed. A\u010dkoli byl b\u011bhem krize d\u016fle\u017eit\u00fdm n\u00e1strojem, jeho budouc\u00ed dopad z\u016fst\u00e1v\u00e1 nejist\u00fd a bude mnoho ekonomik prov\u00e1zet je\u0161t\u011b \u0159adu let.<br \/>\nCelkov\u011b pandemie jasn\u011b ukazuje, \u017ee ekonomick\u00e9 progn\u00f3zy nar\u00e1\u017eej\u00ed na sv\u00e9 limity v dob\u00e1ch hlubok\u00fdch ot\u0159es\u016f. Zd\u016fraz\u0148uje, \u017ee je d\u016fle\u017eit\u00e9 br\u00e1t v \u00favahu r\u016fzn\u00e9 sc\u00e9n\u00e1\u0159e a ch\u00e1pat nejistotu nikoli jako v\u00fdjimku, ale jako ned\u00edlnou sou\u010d\u00e1st ekonomick\u00e9 reality.<\/p>\n<h3>Pohled zp\u011bt: kde to v\u0161echno za\u010dalo<\/h3>\n<p><a href=\"https:\/\/www.markus-schall.de\/cs\/2025\/11\/odkud-pochazi-sars-cov-2-vecny-prehled-vsech-teorii-o-korone\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-3527 size-medium\" src=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/sars-covii-corona-300x213.jpg\" alt=\"SARS-CoV-2 - Corona\" width=\"300\" height=\"213\" srcset=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/sars-covii-corona-300x213.jpg 300w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/sars-covii-corona-768x546.jpg 768w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/sars-covii-corona-18x12.jpg 18w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/sars-covii-corona.jpg 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>Chceme-li pochopit ekonomick\u00e9 d\u016fsledky pandemie, nelze obej\u00edt jednu z\u00e1sadn\u00ed ot\u00e1zku: <a href=\"https:\/\/www.markus-schall.de\/cs\/2025\/11\/odkud-pochazi-sars-cov-2-vecny-prehled-vsech-teorii-o-korone\/\"><strong>Jak to v\u0161echno za\u010dalo?<\/strong><\/a> Zat\u00edmco tento \u010dl\u00e1nek se zab\u00fdv\u00e1 dopady na inflaci, r\u016fst a ekonomick\u00e9 progn\u00f3zy, stoj\u00ed za to pod\u00edvat se dopl\u0148kov\u011b na p\u016fvod samotn\u00e9ho viru. P\u0159esn\u011b tomuto bodu se v\u011bnuje samostatn\u00fd \u010dl\u00e1nek - objektivn\u011b, klidn\u011b a bez un\u00e1hlen\u00fdch z\u00e1v\u011br\u016f. Porovn\u00e1v\u00e1 r\u016fzn\u00e9 teorie o p\u016fvodu SARS-CoV-2, od p\u0159irozen\u00e9ho p\u016fvodu a\u017e po laboratorn\u00ed hypot\u00e9zy, ani\u017e by n\u011bkterou z nich p\u0159edj\u00edmal. C\u00edlem je poskytnout orientaci a z\u00e1klad pro vlastn\u00ed \u00fasudek. Pr\u00e1v\u011b proto, \u017ee ekonomick\u00fd v\u00fdvoj byl v prvn\u00edch m\u011bs\u00edc\u00edch pandemie tak siln\u011b ovlivn\u011bn, pom\u00e1h\u00e1 tento p\u0159ehled l\u00e9pe pochopit celkov\u00fd obraz. Ka\u017ed\u00fd, kdo se zaj\u00edm\u00e1 o to, jak se m\u00edstn\u00ed zdravotn\u00ed zpr\u00e1va zm\u011bnila v celosv\u011btovou krizi, zde najde dob\u0159e podlo\u017eenou kategorizaci.<\/p>\n<h2>Zdroje pou\u017eit\u00e9 v \u010dl\u00e1nku<\/h2>\n<div class=\"quellenblock\">\n<ul>\n<li><strong><a href=\"https:\/\/economicsnetwork.ac.uk\/research\/understandingecon\" target=\"_blank\" rel=\"noopener noreferrer\">Ekonomick\u00e1 s\u00ed\u0165<\/a><\/strong>: P\u0159\u00edsp\u011bvek k vn\u00edm\u00e1n\u00ed ekonomick\u00fdch prohl\u00e1\u0161en\u00ed ve\u0159ejnost\u00ed a d\u016fv\u011b\u0159e v ekonomick\u00e9 p\u0159edpov\u011bdi.<\/li>\n<li><strong><a href=\"https:\/\/www.piie.com\/blogs\/realtime-economic-issues-watch\/high-inflation-unlikely-not-impossible-advanced-economies\" target=\"_blank\" rel=\"noopener noreferrer\">Peterson\u016fv institut pro mezin\u00e1rodn\u00ed ekonomiku - Olivier Blanchard<\/a><\/strong>Anal\u00fdza z roku 2020 o tom, pro\u010d byla vysok\u00e1 inflace ve vysp\u011bl\u00fdch ekonomik\u00e1ch pova\u017eov\u00e1na za nepravd\u011bpodobnou, ale ne nemo\u017enou.<\/li>\n<li><strong><a href=\"https:\/\/www.ons.gov.uk\/peoplepopulationandcommunity\/personalandhouseholdfinances\/expenditure\/articles\/morethanonefifthofusualhouseholdspendinghasbeenlargelypreventedduringlockdown\/2020-06-11\" target=\"_blank\" rel=\"noopener noreferrer\">\u00da\u0159ad pro n\u00e1rodn\u00ed statistiku<\/a><\/strong>: Studie o dopadu v\u00fdluk na v\u00fddaje dom\u00e1cnost\u00ed a chov\u00e1n\u00ed spot\u0159ebitel\u016f b\u011bhem pandemie.<\/li>\n<li><strong><a href=\"https:\/\/www.piie.com\/research\/piie-charts\/pandemic-led-consumers-spend-more-goods-less-services\" target=\"_blank\" rel=\"noopener noreferrer\">Peterson\u016fv institut pro mezin\u00e1rodn\u00ed ekonomiku<\/a><\/strong>: Ilustrace toho, jak pandemie p\u0159esunula spot\u0159ebitelsk\u00e9 v\u00fddaje ze slu\u017eeb na zbo\u017e\u00ed.<\/li>\n<\/ul>\n<\/div>\n<hr \/>\n\n\t\t\t<div class=\"display-post-types\">\n\n\t\t\t\t\t\t\t<style type=\"text\/css\">\n\t\t\t#dpt-wrapper-72 { --dpt-text-align: left;--dpt-image-crop: center;--dpt-border-radius: 5px;--dpt-h-gutter: 10px;--dpt-v-gutter: 9px; }\t\t\t<\/style>\n\t\t\t<style type=\"text\/css\">#dpt-wrapper-72 { --dpt-title-font-style:normal;--dpt-title-font-weight:600;--dpt-title-line-height:1.5;--dpt-title-text-decoration:none;--dpt-title-text-transform:none;--dpt-excerpt-font-style:normal;--dpt-excerpt-font-weight:400;--dpt-excerpt-line-height:1.5;--dpt-excerpt-text-decoration:none;--dpt-excerpt-text-transform:none;--dpt-meta1-font-style:normal;--dpt-meta1-font-weight:400;--dpt-meta1-line-height:1.9;--dpt-meta1-text-decoration:none;--dpt-meta1-text-transform:none;--dpt-meta2-font-style:normal;--dpt-meta2-font-weight:400;--dpt-meta2-line-height:1.9;--dpt-meta2-text-decoration:none;--dpt-meta2-text-transform:none; }<\/style><div class=\"dpt-main-header\">\n\t\t\t\t\t\t<div class=\"dpt-main-title\">\n\t\t\t\t\t\t\t<span class=\"dpt-main-title-text\">Soci\u00e1ln\u00ed ot\u00e1zky sou\u010dasnosti<\/span>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t<\/div>\t\t\t\n\t\t\t\t<div id=\"dpt-wrapper-72\" class=\"dpt-wrapper dpt-mag1 land1 dpt-cropped dpt-flex-wrap\" >\n\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"dpt-entry has-thumbnail\" data-title=\"vicco von b\u00fclow alias loriot &#8211; ordnung, form und der leise widerstand des humors\" data-id=\"4169\"  data-category=\"allgemein gesellschaft kunst &amp; kultur stories &amp; humor\" data-post_tag=\"deutschland erfahrungen pers\u00f6nlichkeitsentwicklung portrait\">\n\t\t\t\t\t\t\t<div class=\"dpt-entry-wrapper\"><div class=\"dpt-featured-content\"><div class=\"dpt-permalink\"><a href=\"https:\/\/www.markus-schall.de\/cs\/2025\/12\/vicco-von-buelow-alias-loriot-objednavkovy-formular-a-tichy-odpor-humoru\/\" class=\"dpt-permalink\"><span class=\"screen-reader-text\">Vicco von B\u00fclow alias Loriot - \u0159\u00e1d, forma a tich\u00fd odpor humoru<\/span><\/a><\/div><div class=\"dpt-thumbnail\"><div class=\"dpt-thumbnail-inner\"><img width=\"1024\" height=\"747\" class=\"attachment-full size-full\" alt=\"\" context=\"dpt\" data-dpt-src=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/Loriot-Titel.jpg\" data-dpt-sizes=\"(max-width: 1024px) 100vw, 1024px\" data-dpt-srcset=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/Loriot-Titel.jpg 1024w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Loriot-Titel-300x219.jpg 300w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Loriot-Titel-768x560.jpg 768w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Loriot-Titel-16x12.jpg 16w\" \/><\/div><span class=\"dpt-thumbnail-aspect-ratio\" style=\"padding-top: 75%\"><\/span><\/div><\/div><div class=\"sub-entry\"><h3 class=\"dpt-title\"><a class=\"dpt-title-link\" href=\"https:\/\/www.markus-schall.de\/cs\/2025\/12\/vicco-von-buelow-alias-loriot-objednavkovy-formular-a-tichy-odpor-humoru\/\" rel=\"bookmark\">Vicco von B\u00fclow alias Loriot - \u0159\u00e1d, forma a tich\u00fd odpor humoru<\/a><\/h3><\/div><\/div>\n\t\t\t\t\t\t<\/div><!-- .dpt-entry -->\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"dpt-entry has-thumbnail\" data-title=\"cloud-act, datenhoheit und die schweiz: ein wendepunkt f\u00fcr europ\u00e4ische it-strategien?\" data-id=\"3727\"  data-category=\"allgemein gesellschaft\" data-post_tag=\"datenbanken datenschutz digitales eigentum eu-gesetze europa\">\n\t\t\t\t\t\t\t<div class=\"dpt-entry-wrapper\"><div class=\"dpt-featured-content\"><div class=\"dpt-permalink\"><a href=\"https:\/\/www.markus-schall.de\/cs\/2025\/11\/suverenita-dat-v-ramci-cloudoveho-zakona-a-svycarsko-jako-bod-obratu-pro-evropske-strategie-v-oblasti-it\/\" class=\"dpt-permalink\"><span class=\"screen-reader-text\">CLOUD Act, datov\u00e1 suverenita a \u0160v\u00fdcarsko: bod obratu pro evropsk\u00e9 IT strategie?<\/span><\/a><\/div><div class=\"dpt-thumbnail\"><div class=\"dpt-thumbnail-inner\"><img width=\"1024\" height=\"683\" class=\"attachment-full size-full\" alt=\"Co znamen\u00e1 \u0161v\u00fdcarsk\u00e9 usnesen\u00ed o cloudu pro Evropu?\" context=\"dpt\" data-dpt-src=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/schweiz-cloud-resolution-eu.jpg\" data-dpt-sizes=\"(max-width: 1024px) 100vw, 1024px\" data-dpt-srcset=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/schweiz-cloud-resolution-eu.jpg 1024w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/schweiz-cloud-resolution-eu-300x200.jpg 300w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/schweiz-cloud-resolution-eu-768x512.jpg 768w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/schweiz-cloud-resolution-eu-18x12.jpg 18w\" \/><\/div><span class=\"dpt-thumbnail-aspect-ratio\" style=\"padding-top: 75%\"><\/span><\/div><\/div><div class=\"sub-entry\"><h3 class=\"dpt-title\"><a class=\"dpt-title-link\" href=\"https:\/\/www.markus-schall.de\/cs\/2025\/11\/suverenita-dat-v-ramci-cloudoveho-zakona-a-svycarsko-jako-bod-obratu-pro-evropske-strategie-v-oblasti-it\/\" rel=\"bookmark\">CLOUD Act, datov\u00e1 suverenita a \u0160v\u00fdcarsko: bod obratu pro evropsk\u00e9 IT strategie?<\/a><\/h3><\/div><\/div>\n\t\t\t\t\t\t<\/div><!-- .dpt-entry -->\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"dpt-entry has-thumbnail\" data-title=\"europa zwischen meinungsfreiheit und regulierung: neues us-infoportal wirft fragen auf\" data-id=\"5102\"  data-category=\"allgemein gesellschaft\" data-post_tag=\"denkmodelle deutschland eu-gesetze europa geopolitik krisen meinungsfreiheit spieltheorie\">\n\t\t\t\t\t\t\t<div class=\"dpt-entry-wrapper\"><div class=\"dpt-featured-content\"><div class=\"dpt-permalink\"><a href=\"https:\/\/www.markus-schall.de\/cs\/2026\/03\/evropa-mezi-svobodou-projevu-a-regulaci-novy-informacni-portal-usa-vyvolava-otazky\/\" class=\"dpt-permalink\"><span class=\"screen-reader-text\">Evropa mezi svobodou projevu a regulac\u00ed: Nov\u00fd informa\u010dn\u00ed port\u00e1l USA vyvol\u00e1v\u00e1 ot\u00e1zky<\/span><\/a><\/div><div class=\"dpt-thumbnail\"><div class=\"dpt-thumbnail-inner\"><img width=\"1024\" height=\"683\" class=\"attachment-full size-full\" alt=\"Cenzura EU, nen\u00e1vistn\u00e9 projevy a nov\u00fd port\u00e1l USA\" context=\"dpt\" data-dpt-src=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/EU-Hatespeech-US-Portal.jpg\" data-dpt-sizes=\"(max-width: 1024px) 100vw, 1024px\" data-dpt-srcset=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/EU-Hatespeech-US-Portal.jpg 1024w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/EU-Hatespeech-US-Portal-300x200.jpg 300w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/EU-Hatespeech-US-Portal-768x512.jpg 768w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/EU-Hatespeech-US-Portal-18x12.jpg 18w\" \/><\/div><span class=\"dpt-thumbnail-aspect-ratio\" style=\"padding-top: 75%\"><\/span><\/div><\/div><div class=\"sub-entry\"><h3 class=\"dpt-title\"><a class=\"dpt-title-link\" href=\"https:\/\/www.markus-schall.de\/cs\/2026\/03\/evropa-mezi-svobodou-projevu-a-regulaci-novy-informacni-portal-usa-vyvolava-otazky\/\" rel=\"bookmark\">Evropa mezi svobodou projevu a regulac\u00ed: Nov\u00fd informa\u010dn\u00ed port\u00e1l USA vyvol\u00e1v\u00e1 ot\u00e1zky<\/a><\/h3><\/div><\/div>\n\t\t\t\t\t\t<\/div><!-- .dpt-entry -->\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"dpt-entry has-thumbnail\" data-title=\"digitales eigentum erkl\u00e4rt &#8211; so entstehen nachhaltige online-verm\u00f6genswerte\" data-id=\"4766\"  data-category=\"allgemein b\u00fccher featured gesellschaft ki-systeme\" data-post_tag=\"buch datenbanken denkmodelle digitales eigentum erp-software k\u00fcnstliche intelligenz prozesse publishing\">\n\t\t\t\t\t\t\t<div class=\"dpt-entry-wrapper\"><div class=\"dpt-featured-content\"><div class=\"dpt-permalink\"><a href=\"https:\/\/www.markus-schall.de\/cs\/2026\/02\/digitalni-majetek-vysvetlil-jak-se-vytvareji-udrzitelne-online-aktiva\/\" class=\"dpt-permalink\"><span class=\"screen-reader-text\">Vysv\u011btlen\u00ed digit\u00e1ln\u00edho vlastnictv\u00ed - Jak se vytv\u00e1\u0159ej\u00ed udr\u017eiteln\u00e9 online aktiva<\/span><\/a><\/div><div class=\"dpt-thumbnail\"><div class=\"dpt-thumbnail-inner\"><img width=\"1024\" height=\"683\" class=\"attachment-full size-full\" alt=\"Co je digit\u00e1ln\u00ed vlastnictv\u00ed\" context=\"dpt\" data-dpt-src=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/Digitales-Eigentum.jpg\" data-dpt-sizes=\"(max-width: 1024px) 100vw, 1024px\" data-dpt-srcset=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/Digitales-Eigentum.jpg 1024w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Digitales-Eigentum-300x200.jpg 300w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Digitales-Eigentum-768x512.jpg 768w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Digitales-Eigentum-18x12.jpg 18w\" \/><\/div><span class=\"dpt-thumbnail-aspect-ratio\" style=\"padding-top: 75%\"><\/span><\/div><\/div><div class=\"sub-entry\"><h3 class=\"dpt-title\"><a class=\"dpt-title-link\" href=\"https:\/\/www.markus-schall.de\/cs\/2026\/02\/digitalni-majetek-vysvetlil-jak-se-vytvareji-udrzitelne-online-aktiva\/\" rel=\"bookmark\">Vysv\u011btlen\u00ed digit\u00e1ln\u00edho vlastnictv\u00ed - Jak se vytv\u00e1\u0159ej\u00ed udr\u017eiteln\u00e9 online aktiva<\/a><\/h3><\/div><\/div>\n\t\t\t\t\t\t<\/div><!-- .dpt-entry -->\n\t\t\t\t\t\t\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\n<hr \/>\n<h2>\u010casto kladen\u00e9 ot\u00e1zky<\/h2>\n<ol>\n<li><strong>Pro\u010d je pandemie tak nespolehliv\u00e1 pro ekonomick\u00e9 p\u0159edpov\u011bdi?<\/strong><br \/>\nPandemie spojila n\u011bkolik mimo\u0159\u00e1dn\u00fdch faktor\u016f najednou - od naru\u0161en\u00ed glob\u00e1ln\u00edho dodavatelsk\u00e9ho \u0159et\u011bzce p\u0159es vl\u00e1dn\u00ed z\u00e1sahy a\u017e po zm\u011bny v chov\u00e1n\u00ed spot\u0159ebitel\u016f. Tato kombinace nebyla v mnoha modelech dostate\u010dn\u011b zohledn\u011bna.<\/li>\n<li><strong>Pro\u010d se mnoz\u00ed ekonomov\u00e9 m\u00fdlili v n\u00e1zoru na inflaci?<\/strong><br \/>\nMnoz\u00ed p\u0159edpokl\u00e1dali, \u017ee vysok\u00e1 nezam\u011bstnanost a opatrn\u00e9 chov\u00e1n\u00ed spot\u0159ebitel\u016f udr\u017e\u00ed ceny stabiln\u00ed. Skute\u010dn\u00e1 \u00fazk\u00e1 m\u00edsta ve v\u00fdrob\u011b a logistice v\u0161ak vedla k prudk\u00e9mu r\u016fstu cen.<\/li>\n<li><strong>Jakou roli hr\u00e1ly v inflaci dodavatelsk\u00e9 \u0159et\u011bzce?<\/strong><br \/>\nByly rozhoduj\u00edc\u00edm faktorem. Zastaven\u00ed v\u00fdroby a probl\u00e9my s dopravou vedly k omezen\u00ed dod\u00e1vek, co\u017e v mnoha oblastech zp\u016fsobilo v\u00fdrazn\u00fd n\u00e1r\u016fst cen.<\/li>\n<li><strong>Pro\u010d se inflace vyv\u00edjela tak odli\u0161n\u011b od o\u010dek\u00e1v\u00e1n\u00ed?<\/strong><br \/>\nProto\u017ee sou\u010dasn\u011b p\u016fsobilo n\u011bkolik ovliv\u0148uj\u00edc\u00edch faktor\u016f, v\u010detn\u011b vl\u00e1dn\u00edch program\u016f pomoci, doh\u00e1n\u011bc\u00edch efekt\u016f ve spot\u0159eb\u011b a glob\u00e1ln\u00edch poruch - co\u017e je kombinace, kter\u00e1 se v t\u00e9to podob\u011b vyskytuje jen z\u0159\u00eddka.<\/li>\n<li><strong>Pro\u010d se USA dok\u00e1zaly zotavit rychleji ne\u017e mnoh\u00e9 evropsk\u00e9 zem\u011b?<\/strong><br \/>\nUSA t\u011b\u017eily z pru\u017en\u011bj\u0161\u00edho trhu pr\u00e1ce, rozs\u00e1hl\u00fdch vl\u00e1dn\u00edch podp\u016frn\u00fdch opat\u0159en\u00ed a men\u0161\u00ed z\u00e1vislosti na vn\u011bj\u0161\u00edch ot\u0159esech, jako byla energetick\u00e1 krize v Evrop\u011b.<\/li>\n<li><strong>Jak d\u016fle\u017eit\u00fd je trh pr\u00e1ce pro hospod\u00e1\u0159sk\u00fd r\u016fst?<\/strong><br \/>\nPru\u017en\u00fd trh pr\u00e1ce umo\u017e\u0148uje rychleji reagovat na zm\u011bny. Zam\u011bstnanci mohou snadn\u011bji p\u0159ej\u00edt do rostouc\u00edch odv\u011btv\u00ed, co\u017e urychluje o\u017eiven\u00ed.<\/li>\n<li><strong>Pro\u010d byla produktivita b\u011bhem pandemie \u010d\u00e1ste\u010dn\u011b nadhodnocena?<\/strong><br \/>\n\u010c\u00e1st n\u00e1r\u016fstu byla zp\u016fsobena statistick\u00fdmi vlivy, nap\u0159\u00edklad uzav\u0159en\u00edm m\u00e9n\u011b produktivn\u00edch odv\u011btv\u00ed. D\u00edky tomu se celkov\u00e1 produktivita jevila vy\u0161\u0161\u00ed, ne\u017e ve skute\u010dnosti byla.<\/li>\n<li><strong>Jak\u00e9 jsou tzv. kompozi\u010dn\u00ed efekty v produktivit\u011b?<\/strong><br \/>\nT\u00edm se m\u011bn\u00ed struktura ekonomiky tak, \u017ee se zvy\u0161uje v\u00fdznam produktivn\u011bj\u0161\u00edch odv\u011btv\u00ed. T\u00edm se zvy\u0161uje m\u011b\u0159en\u00e1 produktivita bez skute\u010dn\u00e9ho zv\u00fd\u0161en\u00ed efektivity.<\/li>\n<li><strong>Zv\u00fd\u0161ila digitalizace trvale produktivitu?<\/strong><br \/>\n\u010c\u00e1ste\u010dn\u011b ano, ale mnoh\u00e9 \u00fa\u010dinky byly kr\u00e1tkodob\u00e9. Dlouhodob\u00e9 zlep\u0161en\u00ed z\u00e1vis\u00ed na tom, jak trvale budou integrov\u00e1ny nov\u00e9 pracovn\u00ed metody a technologie.<\/li>\n<li><strong>Pro\u010d se st\u00e1tn\u00ed dluh tak prudce zv\u00fd\u0161il?<\/strong><br \/>\nVl\u00e1dy musely financovat rozs\u00e1hl\u00e9 programy pomoci na podporu podnik\u016f, zaji\u0161t\u011bn\u00ed pracovn\u00edch m\u00edst a zm\u00edrn\u011bn\u00ed hospod\u00e1\u0159sk\u00fdch propad\u016f.<\/li>\n<li><strong>Je vysok\u00e1 \u00farove\u0148 st\u00e1tn\u00edho dluhu z\u00e1sadn\u011b problematick\u00e1?<\/strong><br \/>\nV dlouhodob\u00e9m horizontu m\u016f\u017ee skr\u00fdvat rizika, ale v dob\u011b krize je \u010dasto nezbytn\u00e1, aby se zabr\u00e1nilo velk\u00fdm hospod\u00e1\u0159sk\u00fdm \u0161kod\u00e1m.<\/li>\n<li><strong>Kter\u00e9 zem\u011b byly rostouc\u00edm dluhem zasa\u017eeny obzvl\u00e1\u0161t\u011b tvrd\u011b?<\/strong><br \/>\nZejm\u00e9na v zem\u00edch, kter\u00e9 ji\u017e maj\u00ed vysokou m\u00edru zadlu\u017een\u00ed nebo omezen\u00fd p\u0159\u00edstup na kapit\u00e1lov\u00e9 trhy, nap\u0159\u00edklad v n\u011bkter\u00fdch \u010d\u00e1stech Afriky nebo v\u00fdchodn\u00ed Asie.<\/li>\n<li><strong>Jak\u00e9 dlouhodob\u00e9 d\u016fsledky m\u016f\u017ee m\u00edt zadlu\u017een\u00ed?<\/strong><br \/>\nM\u016f\u017ee omezit budouc\u00ed investice, v\u00e9st k \u00fasporn\u00fdm opat\u0159en\u00edm nebo omezit man\u00e9vrovac\u00ed prostor vl\u00e1d.<\/li>\n<li><strong>Jak\u00e9 je nejd\u016fle\u017eit\u011bj\u0161\u00ed pou\u010den\u00ed z chybn\u00fdch odhad\u016f pandemie?<\/strong><br \/>\n\u017ee ekonomick\u00fd v\u00fdvoj je slo\u017eit\u011bj\u0161\u00ed, ne\u017e dok\u00e1\u017ee zobrazit mnoho model\u016f, zejm\u00e9na v dob\u011b krize, kdy p\u016fsob\u00ed n\u011bkolik faktor\u016f sou\u010dasn\u011b.<\/li>\n<li><strong>Jak by se m\u011bly v budoucnu zlep\u0161it ekonomick\u00e9 progn\u00f3zy?<\/strong><br \/>\nV\u011bt\u0161\u00ed zohledn\u011bn\u00ed nejistot, alternativn\u00edch sc\u00e9n\u00e1\u0159\u016f a v\u011bt\u0161\u00ed otev\u0159enost v\u016f\u010di r\u016fzn\u00fdm v\u00fdvojov\u00fdm trend\u016fm nam\u00edsto p\u0159\u00edli\u0161 rigidn\u00edch p\u0159edpoklad\u016f.<\/li>\n<\/ol>\n<hr \/>\n\n\t\t\t<div class=\"display-post-types\">\n\n\t\t\t\t\t\t\t<style type=\"text\/css\">\n\t\t\t#dpt-wrapper-73 { --dpt-text-align: left;--dpt-image-crop: center;--dpt-border-radius: 5px;--dpt-h-gutter: 10px;--dpt-v-gutter: 9px; }\t\t\t<\/style>\n\t\t\t<style type=\"text\/css\">#dpt-wrapper-73 { --dpt-title-font-style:normal;--dpt-title-font-weight:600;--dpt-title-line-height:1.5;--dpt-title-text-decoration:none;--dpt-title-text-transform:none;--dpt-excerpt-font-style:normal;--dpt-excerpt-font-weight:400;--dpt-excerpt-line-height:1.5;--dpt-excerpt-text-decoration:none;--dpt-excerpt-text-transform:none;--dpt-meta1-font-style:normal;--dpt-meta1-font-weight:400;--dpt-meta1-line-height:1.9;--dpt-meta1-text-decoration:none;--dpt-meta1-text-transform:none;--dpt-meta2-font-style:normal;--dpt-meta2-font-weight:400;--dpt-meta2-line-height:1.9;--dpt-meta2-text-decoration:none;--dpt-meta2-text-transform:none; }<\/style><div class=\"dpt-main-header\">\n\t\t\t\t\t\t<div class=\"dpt-main-title\">\n\t\t\t\t\t\t\t<span class=\"dpt-main-title-text\">Aktu\u00e1ln\u00ed \u010dl\u00e1nky o um\u011bl\u00e9 inteligenci<\/span>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t<\/div>\t\t\t\n\t\t\t\t<div id=\"dpt-wrapper-73\" class=\"dpt-wrapper dpt-mag1 land1 dpt-cropped dpt-flex-wrap\" >\n\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"dpt-entry has-thumbnail\" data-title=\"der iran-israel-konflikt: warum diese eskalation der strategische albtraum des westens ist\" data-id=\"5212\"  data-category=\"allgemein gesellschaft\" data-post_tag=\"denkmodelle energiepolitik europa geopolitik krisen k\u00fcnstliche intelligenz meinungsfreiheit sicherheitspolitik spieltheorie\">\n\t\t\t\t\t\t\t<div class=\"dpt-entry-wrapper\"><div class=\"dpt-featured-content\"><div class=\"dpt-permalink\"><a href=\"https:\/\/www.markus-schall.de\/cs\/2026\/03\/iransko-izraelsky-konflikt-proc-je-eskalace-konfliktu-strategickou-nocni-murou-zapadu\/\" class=\"dpt-permalink\"><span class=\"screen-reader-text\">\u00cdr\u00e1nsko-izraelsk\u00fd konflikt: Pro\u010d je eskalace konfliktu strategickou no\u010dn\u00ed m\u016frou Z\u00e1padu?<\/span><\/a><\/div><div class=\"dpt-thumbnail\"><div class=\"dpt-thumbnail-inner\"><img width=\"1024\" height=\"683\" class=\"attachment-full size-full\" alt=\"Izrael-Ir\u00e1n - strategick\u00e1 no\u010dn\u00ed m\u016fra\" context=\"dpt\" data-dpt-src=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/Israel-Iran-Strategischer-Albtraum.jpg\" data-dpt-sizes=\"(max-width: 1024px) 100vw, 1024px\" data-dpt-srcset=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/Israel-Iran-Strategischer-Albtraum.jpg 1024w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Israel-Iran-Strategischer-Albtraum-300x200.jpg 300w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Israel-Iran-Strategischer-Albtraum-768x512.jpg 768w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Israel-Iran-Strategischer-Albtraum-18x12.jpg 18w\" \/><\/div><span class=\"dpt-thumbnail-aspect-ratio\" style=\"padding-top: 75%\"><\/span><\/div><\/div><div class=\"sub-entry\"><h3 class=\"dpt-title\"><a class=\"dpt-title-link\" href=\"https:\/\/www.markus-schall.de\/cs\/2026\/03\/iransko-izraelsky-konflikt-proc-je-eskalace-konfliktu-strategickou-nocni-murou-zapadu\/\" rel=\"bookmark\">\u00cdr\u00e1nsko-izraelsk\u00fd konflikt: Pro\u010d je eskalace konfliktu strategickou no\u010dn\u00ed m\u016frou Z\u00e1padu?<\/a><\/h3><\/div><\/div>\n\t\t\t\t\t\t<\/div><!-- .dpt-entry -->\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"dpt-entry has-thumbnail\" data-title=\"als ich mit einem roboter telefonierte &#8211; wie ki das telefon erobert und wie man sie erkennt\" data-id=\"5130\"  data-category=\"allgemein gesellschaft ki-systeme stories &amp; humor\" data-post_tag=\"datenschutz erfahrungen k\u00fcnstliche intelligenz prozesse\">\n\t\t\t\t\t\t\t<div class=\"dpt-entry-wrapper\"><div class=\"dpt-featured-content\"><div class=\"dpt-permalink\"><a href=\"https:\/\/www.markus-schall.de\/cs\/2026\/03\/kdyz-jsem-telefonoval-s-robotem-jak-ki-ovlada-telefon-a-jak-ho-rozpoznat\/\" class=\"dpt-permalink\"><span class=\"screen-reader-text\">Kdy\u017e jsem telefonoval s robotem - jak um\u011bl\u00e1 inteligence dob\u00fdv\u00e1 telefon a jak ji rozpoznat<\/span><\/a><\/div><div class=\"dpt-thumbnail\"><div class=\"dpt-thumbnail-inner\"><img width=\"1024\" height=\"683\" class=\"attachment-full size-full\" alt=\"Telefonn\u00ed rozhovor s robotem s um\u011blou inteligenc\u00ed\" context=\"dpt\" data-dpt-src=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/Telefonanrufe-KI-Werbung.jpg\" data-dpt-sizes=\"(max-width: 1024px) 100vw, 1024px\" data-dpt-srcset=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/Telefonanrufe-KI-Werbung.jpg 1024w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Telefonanrufe-KI-Werbung-300x200.jpg 300w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Telefonanrufe-KI-Werbung-768x512.jpg 768w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Telefonanrufe-KI-Werbung-18x12.jpg 18w\" \/><\/div><span class=\"dpt-thumbnail-aspect-ratio\" style=\"padding-top: 75%\"><\/span><\/div><\/div><div class=\"sub-entry\"><h3 class=\"dpt-title\"><a class=\"dpt-title-link\" href=\"https:\/\/www.markus-schall.de\/cs\/2026\/03\/kdyz-jsem-telefonoval-s-robotem-jak-ki-ovlada-telefon-a-jak-ho-rozpoznat\/\" rel=\"bookmark\">Kdy\u017e jsem telefonoval s robotem - jak um\u011bl\u00e1 inteligence dob\u00fdv\u00e1 telefon a jak ji rozpoznat<\/a><\/h3><\/div><\/div>\n\t\t\t\t\t\t<\/div><!-- .dpt-entry -->\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"dpt-entry has-thumbnail\" data-title=\"ki-studio 2025: welche hardware wirklich lohnt &#8211; 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anleitungen\" data-post_tag=\"buch datenlogik denkmodelle digitales eigentum erfahrungen k\u00fcnstliche intelligenz prozesse publishing ratgeber\">\n\t\t\t\t\t\t\t<div class=\"dpt-entry-wrapper\"><div class=\"dpt-featured-content\"><div class=\"dpt-permalink\"><a href=\"https:\/\/www.markus-schall.de\/cs\/2026\/04\/od-obsahu-k-podstate-jak-se-vytvareji-digitalni-systemy-ktere-nelze-kopirovat\/\" class=\"dpt-permalink\"><span class=\"screen-reader-text\">Od obsahu k podstat\u011b: jak vznikaj\u00ed digit\u00e1ln\u00ed syst\u00e9my, kter\u00e9 nelze kop\u00edrovat<\/span><\/a><\/div><div class=\"dpt-thumbnail\"><div class=\"dpt-thumbnail-inner\"><img width=\"1024\" height=\"682\" class=\"attachment-full size-full\" alt=\"Syst\u00e9m m\u00edsto individu\u00e1ln\u00edho obsahu\" context=\"dpt\" data-dpt-src=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/Organische-Reichweite.jpg\" data-dpt-sizes=\"(max-width: 1024px) 100vw, 1024px\" data-dpt-srcset=\"https:\/\/www.markus-schall.de\/wp-content\/uploads\/Organische-Reichweite.jpg 1024w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Organische-Reichweite-300x200.jpg 300w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Organische-Reichweite-768x512.jpg 768w, https:\/\/www.markus-schall.de\/wp-content\/uploads\/Organische-Reichweite-18x12.jpg 18w\" \/><\/div><span class=\"dpt-thumbnail-aspect-ratio\" style=\"padding-top: 75%\"><\/span><\/div><\/div><div class=\"sub-entry\"><h3 class=\"dpt-title\"><a class=\"dpt-title-link\" href=\"https:\/\/www.markus-schall.de\/cs\/2026\/04\/od-obsahu-k-podstate-jak-se-vytvareji-digitalni-systemy-ktere-nelze-kopirovat\/\" rel=\"bookmark\">Od obsahu k podstat\u011b: jak vznikaj\u00ed digit\u00e1ln\u00ed syst\u00e9my, kter\u00e9 nelze kop\u00edrovat<\/a><\/h3><\/div><\/div>\n\t\t\t\t\t\t<\/div><!-- .dpt-entry -->\n\t\t\t\t\t\t\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\n<hr \/>","protected":false},"excerpt":{"rendered":"<p>Dokonce i b\u011bhem pandemie koronaviru byli mnoz\u00ed ekonomov\u00e9 p\u0159ekvapiv\u011b jednotn\u00ed: velk\u00fdm nebezpe\u010d\u00edm je f\u00e1ze n\u00edzk\u00e9 inflace, mo\u017en\u00e1 dokonce deflace. O n\u011bkolik let pozd\u011bji se uk\u00e1zal jin\u00fd obraz. Inflace dos\u00e1hla v mnoha zem\u00edch historick\u00fdch maxim, dodavatelsk\u00e9 \u0159et\u011bzce se zhroutily a hospod\u00e1\u0159sk\u00fd v\u00fdvoj nabral jin\u00fd sm\u011br, ne\u017e se o\u010dek\u00e1valo. Pandemie nebyla jen zdravotn\u00ed kriz\u00ed ... <a title=\"Od obsahu k podstat\u011b: jak vznikaj\u00ed digit\u00e1ln\u00ed syst\u00e9my, kter\u00e9 nelze kop\u00edrovat\" class=\"read-more\" href=\"https:\/\/www.markus-schall.de\/cs\/2026\/04\/od-obsahu-k-podstate-jak-se-vytvareji-digitalni-systemy-ktere-nelze-kopirovat\/\" aria-label=\"\u010c\u00edst v\u00edce o Od obsahu k podstat\u011b: Jak vznikaj\u00ed digit\u00e1ln\u00ed syst\u00e9my, kter\u00e9 nelze kop\u00edrovat\">\u010c\u00edst d\u00e1l<\/a><\/p>","protected":false},"author":3,"featured_media":5883,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":141,"footnotes":""},"categories":[1,466],"tags":[444,480,481,475,482,426],"class_list":["post-5882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-allgemein","category-gesellschaft","tag-denkmodelle","tag-deutschland","tag-energiepolitik","tag-europa","tag-geopolitik","tag-krisen"],"_links":{"self":[{"href":"https:\/\/www.markus-schall.de\/cs\/wp-json\/wp\/v2\/posts\/5882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.markus-schall.de\/cs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.markus-schall.de\/cs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.markus-schall.de\/cs\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.markus-schall.de\/cs\/wp-json\/wp\/v2\/comments?post=5882"}],"version-history":[{"count":10,"href":"https:\/\/www.markus-schall.de\/cs\/wp-json\/wp\/v2\/posts\/5882\/revisions"}],"predecessor-version":[{"id":5971,"href":"https:\/\/www.markus-schall.de\/cs\/wp-json\/wp\/v2\/posts\/5882\/revisions\/5971"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.markus-schall.de\/cs\/wp-json\/wp\/v2\/media\/5883"}],"wp:attachment":[{"href":"https:\/\/www.markus-schall.de\/cs\/wp-json\/wp\/v2\/media?parent=5882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.markus-schall.de\/cs\/wp-json\/wp\/v2\/categories?post=5882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.markus-schall.de\/cs\/wp-json\/wp\/v2\/tags?post=5882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}