Recently the popularity of fiscal rules has been increasing also due to the impact of macroeconomic and financial shocks on fiscal sustainability. This paper reviews supranational and national fiscal rules implemented in the Visegrad countries (V4). Namely, we base the review and comparison of...

The convergence criterions nessesary for the entrance of EU-member to European Monetary Union are divided to monetary and fiscal area. To fiscal criterions (after Pact of Stability and Growth) belong the low long-run deficit of public budget in the maximum 3 % of GDP and maximal public debt 60 %...

This paper analyzes the effects of macroeconomic shocks on the government debt dynamics in an open economy using the analytical framework of Favero and Giavazzi (2007) extended to an open economy. Applying this modeling approach to the data for the Czech Republic, the authors derive some...

Pøeklad pøednášky profesora Josepha Stiglitze, kterou pronesl na pùdì IES FSV UK v èervnu 2001. Hlavním pøedmìtem pøednášky byly otázky ekonomické transformace a specifické role, kterou v této transformaci hrají otázky morálního hazardu a morálky obecnì.