Joint-stock companies are among the most fundamental components of a market economy. “Voucher privatization” in the Czech Republic saw an abrupt mushrooming of joint-stock companies where none had appeared for over a generation. This occurred in an environment lacking in guiding...

Paper analyzes the Czech social security and tax system as their redistribution aspects are concerned. On a basis of individual data, authors find that social security programs are usually properly targeted but that the tax breaks favor richer households. A microanalysis of tax expenditures is...