Melecký, Aleš; Melecký, Martin - In: Politická ekonomie 2012 (2012) 6, pp. 723-742
This paper analyzes the effects of macroeconomic shocks on the government debt dynamics in an open economy using the analytical framework of Favero and Giavazzi (2007) extended to an open economy. Applying this modelling approach to the data for the Czech Republic, the authors derive some...