Judging the Sustainability of Czech Public Finances

Jan Zapal

No 73, Working Papers IES from Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies

Abstract: The position of Czech public finances has been pronounced unsustainable by economists, while politicians claim more or less the opposite. Correct judgment is complicated by the purposeful use of arguments by the two groups in disagreement, by use of different methodology to collect the data and above all, by the fact that there is no precise benchmark for measuring the sustainability. My work attempts to surpass those complications. It attempts to shed more light on Czech public finances sustainability and to present further arguments, presenting Czech public finances in widest international context possible and using comparable, samemethodology based data, as well as different approaches and angles public sector can be looked upon. The analysis suggests that concerns of economists about the future development of Czech public finances are legitimate.

Keywords: Public Finances; Sustainability index; Budget process; Fiscal illusion; Deficit bias; Factor analysis; Open-ended expenditures (search for similar items in EconPapers)
JEL-codes: C10 D70 E62 H11 H61 H62 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2005, Revised 2005
New Economics Papers: this item is included in nep-tra
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Related works:
Journal Article: Judging the Sustainability of Czech Public Finances (2007)
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