First go to the AMD web site and ensure you have the latest driver for your graphics card.
Then go to C:/ProgramData/Adobe/Premiere Elements/12.0 and delete the BadDrivers.txt file and restart the program. (You may need to enable Show All Files in your Folder Options to see these files.)
I installed new display driver and now the application seems to act correctly. However I wonder what the chipset drivers are? There was said that the package doesn't contain chipset drivers and you can load them from chipset drivers.
Those drivers should be available from your computer manufacturer's web site (Dell, HP, etc).
Thank you for your help. Now everything seems to be all right.