This paper analyzes the tax penalty on volatile personal income under progressive tax rates. The phenomenon may have an effect on long-term entrepreneurial decisions as well as risky occupational choice. An options-based model is used to estimate the expected effective rate due from tax-payers...

This article focuses on the development and resolution of Czechoslovak state debt from 1945 to 1953. It describes two distinct periods. Between 1945 and 1948, the budget followed a prewar structure where debt constituted a separate part. These times were characterized by an increase of state...

This article presents the approach to the tax reform in the Czech Republic and uses the normative and the teleology theory view. The impulse of this text we can find in lame solution of the public finance reform, in which the elements of the basic methodology thinking are often missing there....

We survey theories of impacts of budgetary rules in the budget process, review empirical evidence and on the basis of comparative studies attempt to design the optimal shape of the Czech budgetary rules. The theoretical part focuses on conventional and non-intuitive effects of spending caps and...

Mental health has an economic impact on both individuals and societies. There is lack of information on total cost of mental illness in the Czech Republic, especially on social services financed by municipalities and private resources. In the health sector, the share of mental health...

As regards the frequently mentioned risks connected with the EU entry, we feel that the analyzed macroeconomic data do not confi rm that these risks have materialized. The example of the Czech Republic, which joined the EU in 2004, conversely points to an improvement of most macroeconomic...

Gradual narrowing of the gap between consumer and investment demand was one of major achievements of 2003, supporting the long-term sustainability of Czech economic growth. In the first half of 2004, industry and construction witnessed strong growth, retail trade showing a considerable slowdown....

The article analyzes macroeconomic forecasts of tax revenue in the Czech Republic. Forecasts are tested for their biases on data from Czech Republic from 1993 to 2003. The authors argue that Czech tax-revenue forecasts were highly biased and the hypothesis of unbiasedness could not be rejected...