The coordination of the economic policies of the EU Member countries started in the early 90´ s has become a permanent feature of the European integration process. Gradually a rather complicated mechanism has evolved aiming to combine and complement policies pursued at EU level with policies...

The paper is the first part of a broader empirical study that considers the entry timing of accession economies into the eurozone and their exchange-rate regimes between the EU entry and prior to the eurozone entry. The presented empirical analysis is based on model simulations and on the...

The paper presents a shortened version of Finance Minister Jiri Rusnok’s addresses to the lower house of the Czech Parliament in which he sketched the main macroeconomic, political and financial assumptions of the government’s 2002 state budget proposal. As the government’s proposal was...

The paper presents a shortened version of Finance Minister Bohuslav Sobotka's addresses to the lower house of the Czech Parliament in which he sketched the main macroeconomic, political and financial assumptions of the government's 2003 state budget proposal.

Finance Minister Pavel Mertlík outlined the principles of 2001 state budget. First he analysed the macroeconomic conditions that influence the state budget ? expected inflation rate, GDP growth the rate of unemployment. Further affecting the state budget arithmetic are the exchange rate of the...

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...

The interpretation of the relation between a budget deficit and a government debt in the standard economic theory is based on its unilateral causality, where the government debt comes into being due to the accumulation of budget deficits. The logic of the development of the government...

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...

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...