Publication detail

Structural Deficits of Czech Budgets

Author(s): doc. Ing. Ondřej Schneider MPhil., Ph.D., Ales Krejdl
Type: Articles in journals with impact factor
Year: 2000
Number: 0
ISSN / ISBN: ISSN: 0015-1920
Published in: Finance a úvěr 2000, Vol. 50, No. 3
Publishing place: Prague
Keywords:
JEL codes:
Suggested Citation:
Grants: IES Research Framework (1999-2004) "The Czech Economy in the Context of European Integration and Globalization"
Abstract: 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 the Czech economy and demonstrate how these estimates lead to different conclusions vis-à-vis fiscal policy. Their analysis shows that the Czech economy under-performs with respect to its perceived convergence with the European Union. The authors also adjust the official budget numbers for one-off privatization revenues. These revenues considered, public budgets appear significantly less balanced, and recent practice suggests a mounting budgetary dependence on privatization revenues.
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