MELECKY, Ales; MACHACEK, Martin - In: Journal of Applied Economic Sciences 5 (2010) 4(14)/ Winter 2010, pp. 375-382
This paper summarizes recent international evidence on the design, functioning and effects of fiscal rules. Special attention is paid to small open economies such as the Czech Republic. This paper (1) discusses pros and cons of the rules focusing on different types of fiscal constraints (e.g.,...