Michl, Aleš - In: Review of Economic Perspectives 19 (2019) 3, pp. 159-174
We show an example of a small open economy - the Czech Republic - where the fiscal restriction was put in place between … fiscal policy seems to have been mistaken, as the restriction may apparently have caused a second recession in the Czech … policy after the 2008/2009 crisis would probably have led to faster stabilisation of the Czech economy. We simulate a …