Michl, Aleš - In: Národohospodářský obzor : časopis věnovaný … 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 … Republic in 2012/2013 (after the global recession in 2008/2009). Instead of the dynamic stochastic general equilibrium approach …