Ambrisko, Robert; Augusta, Vitezslav; Hajkova, Dana; … - Česká Národní Banka - 2012
We survey discretionary measures of Czech fiscal policy in the period 2001-2011 and analyze their episodes and macroeconomic impacts. We use bottom-up and top-down methods to identify fiscal discretion and we compare the results with Kalman filtering. Fiscal discretion is found to be used...