This paper explains the various concepts of government debt in the euro area with particular emphasis on its size and composition. In terms of size, the paper focuses on different definitions that are in use, in particular the concept of gross general government debt used in the surveillance of...

We use a threshold VAR analysis to study whether the effects of fiscal policy on economic activity differ depending on financial market conditions. In particular, we investigate the possibility of a non-linear propagation of fiscal developments according to different financial market stress...

We extend the scarce evidence on the labor supply in post-transition countries by estimating the wage elasticity of labor force participation in the Czech Republic. Using household income survey data, we find that a one-percent rise in the gross wage increases the probability of working by 0.16...

This contribution undertakes to outline the state space models and the recursive technique called the Kalman filter to a wider audience of the Czech economics readers. One can find both terms in a whole range of empirical studies from recent years. Following this approach also allows us among...

The author uses microeconomic theory, particularly demand theory, and econometrics to investigate the impact of proposed tax changes on the consumers. The effect of taxation can be investigated in two ways: the first possibility is to construct a multi-equation model able to analyze all taxes...

This paper considers and provides estimates of the term structure of interest rates based on observable bond prices. The paper opens with an account of the usefulness of the so-called zero-coupon yield curve as a tool for term structure modelling. Toward this, three methods are considered ? the...