The political and economic collapse of communism in the Eastern Europe and the former Soviet Union has created enormous challenge for Western democracies. The challenge has been not that of providing financial developmental aid although it is very important for countries facing the double...

The overall financial framework of the EU for the years 2000-2006 provides for specific transfers in favour of the applicant countries during future eastern enlargement. The purpose of this study is to evaluate the budgetary implications for the applicants joining the Union. Generally, the...

This paper attempts to consider in a systematic way the developments of the public debt in the Czech Republic, Hungary, Poland and Romania during the 1990's. After a brief outline of the public indebtedness of the four countries before 1989, it examines the public debt dynamics after 1990 and...

Pension systems and pension expenditures show large variations among countries worldwide. This variation appears to reflect mainly demographic factors and differences in the level of insurance protection, the latter tending to increase with the level of development. The focus of this paper is...

This paper is focused - using the example of the Czech Republic since 1993 - on a description of the hidden risks, implicitly existing in the system of public finances duringthe transition period (from a centrally planned towards market economy). The starting assumption is that public budgets...

In this paper I estimate a Bayesian structural VAR models for the Czech Republic and Poland, allowing for changes in parameters between the two monetary policy arrangements. The four-variables structural VAR methodology adopted in the study is successful in identifying monetary policy shocks and...

The paper presents series of medium term economic simulations, evaluating fiscal costs of different EMU entry scenarios for six of the new EU members. Projections cover period of 2004- 2012 and use basic macroeconomic equations in an attempt to assess the value of public debtrelated costs that...

In the past ten years all transition economies have adopted modern bankruptcy legislation as part of their institution building efforts. But their approach to insolvency and their determination to use the insolvency process as a selection mechanism have varied widely. The aim of the paper is two...

The paper analyses the relationship between labour costs and employment development in manufacturing industry in Poland, Czech Republic and Hungary. It indicates the need for thorough labour cost analysis in Europe in the context low employment rates among New Member States. The steps taken...

The paper provides an analyses of the economic changes which occurred in the Czech Republic under transition. After providing an economic history of the transition period, the paper describes first the developments in the public finance sector (e.g.: public budget operations developments, public...