The bulk of recent literature on foreign-exchange interventions has overlooked the potential interdependencies that may exist between these operations and the conduct of monetary policy. This is the case even under inflation targeting and especially in emerging-market economies, because central...

This paper looks at ways of ensuring Czech regions and municipalities are fully motivated to make efficiency improvements in public service provision and so help achieve countrywide fiscal sustainability. The very large number of small municipalities in the Czech Republic means that scale...

This paper discusses the tax system in the Czech Republic and offers some specific suggestions for reform. Viewed in international context, the Czech system is broadly similar to those operated in other OECD countries. Like them, it exhibits a number of non-neutral features, some of which...

This paper studies the behaviour of the CZK/USD exchange rate based on four major models. Using the Mean Absolute Percent Error (MAPE) as a criterion, the IS-MP model performs best, followed by the monetary model, the Purchasing Power Parity (PPP) model using the relative Producer Price Index...

In recent years, media pluralism has become the key theme of media policy debates both at the EU and national levels. This article examines normative grounds of media pluralism and considers different approaches to the issue. It also maps out regulatory concepts and responses at the level of EU...

As regards the frequently mentioned risks connected with the EU entry, we feel that the analyzed macroeconomic data do not confi rm that these risks have materialized. The example of the Czech Republic, which joined the EU in 2004, conversely points to an improvement of most macroeconomic...

The Geopolitical divide that separated Europe did not allow Germany on one side and Poland and Czechoslovakia on the other side to prosper from the potential of their relations. It has rapidly changed after the end of the Cold War, when both sides concluded and began to engage in many bilateral...

A proper picture of the Czech labour market emerges by focusing on its nuanced details from various perspectives. First we focus on the specific phases of the labour market as it developed in the 1990s. Second, we observe the changing composition of the labour force and labour mobility. Third,...

The changing social status of pensioners is described and structured according to stylized periods. First, I identify the salient features of the communist regime that shifted pensioners to the margins of society. Second, I attempt to trace how the position of pensioners changed as a result of...

EU enlargement is hardly to be seen as the major push factor for migration. There are mainly economic factors that influence the migration decisions. Besides it seems that there is a migration potential, unique for every country, that pre-determines the migration or labour mobility. In our paper...