The paper considers the impact of the business cycle on Czech fiscal balance in the past decade. The authors employed two different calculation methods in their analysis: an OECD and an ESCB method. Two crucial findings emerged from the analysis. First, the estimates of cyclically adjusted...

The paper explores the long-term fiscal implications of population aging in the Czech Republic. The results, although bearing a significant margin of uncertainty due to the very long-term character of the projection exercise, do not impart encouraging fiscal outlooks for the Czech Republic. This...

The paper analyzes the fiscal position of Czech public budgets. It focuses on the structural and the cyclical parts of the budget deficits and concludes that public budgets were in structural deficit as early as 1994. The authors propose three methods toward estimating the potential output of...