The paper is concerned with the microeconomic foundations of fertility, analyzing three approaches: the Chicago approach, the Pennsylvanian approach and Julian Simon´s approach. The paper highlights the Chicago tradition that perceives children as either consumer goods or capital goods. The...

The study focuses on evaluation of institutional quality in European Union countries and its possible impact on economic performance and competitiveness. The text stems from the theoretical framework of new institutional economics, especially historical and comparative institutionalism, and it...

We evaluate the economic impact of Summer Olympic Games (SOG) potentially organized by the City of Prague in 2016. We focus on the so called Modified Northern Variant of the Games proposed by the PriceWaterhouseCoopers-Czech Republic. The first step in our analysis is quantification of a primary...

In the last years there has been a growing discrepancy between gross domestic product and gross disposable income (more than a double of government budget deficit in 2006)in favour of non-residents. The difference between the real interest rate and the rate of growth of GDP has been negative in...

Starting from endogenous growth models we test the impacts of both taxes (distortionary and non-distortionary) and expenditures (taking into account economic and functional classification of general government expenditure) using the government constraint. We do not neglect the implicit financing...

Tax reliefs (tax expenditures) in the Czech Republic, as well as in other countries, are frequent topic of political and public finance discussion. Sometimes they are presented in a positive spirit as administratively inexpensive tool for promoting desirable public policies. More often, however,...

The article contests an argument that the creation of a capital market in educational "human capital" and subsequent voluntary transactions on this market are sufficient to create equal opportunities in education, consequently reducing the income premium enjoyed by households with higher initial...

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...