In this paper, we combine macro and microeconomic approaches to a pension reform. First, we modify an OLG model and estimate macroeconomic effects of a pension systém switch from a pure PAYG to a mixed system. Second, we employ macroeconomic results in a microeconomic simulation in which we...

In this paper, we analyze the Czech social and tax systems and their impact on income distribution. We use regular household surveys, organized and published by the Czech Statistical Office (CSO), for years 1999-2002. This longer time span allows us to identify some trends in the Czech social...

The European Union (EU) accepted ten new member states (NMS) in 2004. These countries, mostly former socialist countries, have had to adjust their economic policies to the EU’s standards. Perhaps most difficult has proven to be fiscal policy whereby NMS must comply with the Stability and...

In this paper, we track behaviour of fiscal authorities of the ten new EU member states (NSM) in the period which immediately preceded their EU accession. We first present basic stylized facts about public budgets of those countries. The paper then analyses reasons which led to periods of fiscal...

This paper focuses on the role of labour market institutions in explaining different labour market developments in European countries, with a special attention to the new European Union member countries. Labour market in these two parts of the EU witnessed diverging developments in the late...

This paper analyses the European budget and the position of the ten new member states. We argue that the EU budget should be reconsidered, as the Union has expanded to 27 member states and has become more heterogeneous. The budget priorities must be re-oriented towards potentially productive...

In this paper, we set out to examine an efficient fiscal policy framework for a monetary union. We find that a monetary union can survive with diverging fiscal policies and that the financial markets are efficient enough to separate between “good” and “bad” fiscal policies and punish the...

In this paper, we set out to examine an efficient fiscal-policy framework for a monetary union. We illustrate that fiscal policy’s bias toward budget deficit only temporarily ceased at the end of the 20th century as European countries endeavored to qualify for euro-zone membership, which...

In this paper, we summarize our previous research into the distributive effects of the tax and social systems in the Czech Republic. We construct a measure of the total tax burden for ten income deciles and we measure it against social benefits distribution. Our analysis shows that the poorest...