This paper studies whether the dynamic behavior of real GDP, unemployment and inflation is systematically affected by the timing of elections and by changes of governments in the Czech Republic. Two basic models of political cycles are tested – the political business cycle models and the...

The Stability and Growth Pact has become a primary fiscal policy framework in all European countries since 1997. Together with Maastricht fiscal criteria it determines the fiscal discipline of integration process. The aim of this study is to evaluate ex-post effectiveness of the fiscal rules...

Stárnutí obyvatelstva se stalo v poslední době jedním z důležitých témat v mnoha rozvinutých zemích. Důchodové systémy a systémy financování zdravotnictví založené na solidaritě jsou výrazně citlivé na demografické změny související s klesající porodností a...

The Czech Republic has introduced new energy taxation in connection with implementation of the directive 2003/96/EC, restructuring the Community framework for the taxation of energy products and electricity. New energy taxes are imposed on electricity, solid fuels and natural gas, with term of...

Hedging strategies represent basic instrument used toward eliminating financial risk. Increasing volatility of financial markets and their globalization also lead to higher financial risks. These aspects are especially important for transitional and small open economies. The basic goal of the...

The paper considers modern frameworks of public debt management from a credibility perspective. It focuses on the institutional and operational arrangements of effective debt management. In particular, the author seeks to shed light upon the contemporary problems of Czech debt manager compared...