This theses focuses on evaluation of major developments in czech economic policy since 1997 - financial crises in 1997, inflation targeting, incentives and foreign direct investments in CZ and problems of czech public finances.

The first goal of this thesis is to reveal main causes of increasing public debts of the Czech Republic and Hungary. The results of that analysis should show us whether the both countries differ in such causes or not and if there is a chance that the Czech Republic's public finance system could be in danger, as it happened in Hungary in 2008. At the beginning, we suppose that there are no important differences in those causes and that the main reason for the increasing public debts are long-term budget deficits which are of structural character. That means that those structural deficits are formed on purpose, by irresponsible fiscal policy. The other goal of this thesis is to analyse the most important factors which cause the long-term structural deficits in the Czech Republic, and to suggest some steps which would help to stop the further creation of those deficits.

This work analyses fiscal sustainability and position of old and new members of EU and offers some fiscal policy implications to deal with debt reduction in the aftermath of the current fiscal crisis in the EU. Fiscal policy of Old European countries is different from fiscal policy of the new members. Due to different historical development New European members have lower debt and lower GDP per capita. Many policymakers in New Europe tried to increase GDP of their countries by generating government deficits. On the other hand Old European countries are already having large debts and current fiscal crisis is one result of this fact. The recent fiscal crisis in Europe raised the question what is sustainable fiscal policy and how to achieve it. Sustainability of the policy can be divided into three groups: short term, medium term, and long term. In short term, fiscal policy is sustainable, when government is able to issue and sell government bonds. Otherwise it defaults. In medium term, fiscal policy is sustainable when debt to GDP ratio is constant or decreasing. Situation in long term is very similar to situation in medium term. The difference is in time. Long term fiscal policy is sustainable if debt to GDP ratio converges to some finite number. All the definitions are problematic and problem arises basically from fact that variables that are part of the definitions are volatile. Fiscal policy that might seem to be sustainable in times of economic expansion may become unsustainable even in short time. Exactly this thing happened in Ireland. Ireland shows another problem of sustainability definitions. The problem is that private debt can increase public debt and even threaten its sustainability. Many countries were saving their financial sector which was very expensive and this practice is increased the debt in those countries very fast. Probably the most important indicator of fiscal sustainability is interest rate on government bonds. Reason is that price of the bonds is based on different risks that are in the assets. Countries with sustainable fiscal policy are paying lower interests than countries with unsustainable. This is reason why we tried to explain variation of interest rate on 10 years government bonds by empirical models. Two models were based on fixed effects panel data estimations and one model was based on ordinary least squares model. The panel data model showed that there was and still is huge difference between Old European and New European countries. Old Europe was viewed by markets as one segment which is relatively risk free. This lead to situation, that most important factor driving interest rates in Old Europe is the risk free rate on the German bonds. On the other hand, interest rates in New European countries are influenced by many more indicators. Most important indicator in New Europe is GDP growth and sustainability of foreign exchange reserves. Based on results of the model we came to conclusion that there is high chance that markets will start to differ among Old European countries and this could lead to increase of interest rates in some Old EU members, a conclusion which is to some degree being verified by the increased spreads between German government bonds on one hand, and Italian and Spanish bonds on the other hand in the first few weeks of August 2011. Our conclusions also suggest that the position of New Europe may stand similar in current situation. If it is true policymakers may try to adapt policy of New European countries to increase its sustainability and improve the key variables. The conclusions from this work bring several policy recommendations for improving the fiscal sustainability in Europe. First and probably the most important recommendation to fiscal policy is that policymakers should not underestimate the indicators of fiscal sustainability, which was a common practice in recent history. Countries with high GDP growth were generating large deficits and debt to GDP ratio was constant. Problem is that in recession indicators that were influencing interest rate changed and fiscal policy become unsustainable in many cases. Conclusion for fiscal policy is that policymakers should run responsible fiscal policy in good times to avoid troubles in bad times. Governments should also understand full price of deficits, because increased deficits also increase interest rate that governments have to pay on existing debt.

The diploma thesis deals with changes in the system of taxation in the Czech Republic, 2008 -- 2013. The aim of the thesis is to analyze particular changes in the system of taxation in each year and determine what form of fiscal policy was applied and whether it was in accordance with tax theory. The examined taxes are: personal and corporate income tax, social security contributions, health insurance, value added tax and excise duties. The first part of the thesis deals with causes and consequences of the financial crisis that began in 2008. The second part of the thesis deals with fiscal policy theory and its measures. The third part of the thesis is an analysis anti-crisis measures applied throughout the European Union during the financial crisis. The fourth part analyzes the changes in the system of taxation in the Czech Republic, 2008 -- 2013.

This study is titled and its main purpose is to evaluate possible solutions to the inflation crisis in Argentina. The work will specifically look at the monetary history of Argentina until the most recent days, then it will examine causes of Argentinian inflation and present possible solutions to it. Finally, it examines them and come up with the best theoretical plan.

The aim of the thesis is the analysis of the volume of state receivables overdue arising mainly from the underpayment of taxes, duties, social insurance during the time period from 2000 to 2014. The aim is also an analysis of the recovery of overdue receivables in the Czech Republic that should lead to identification of causes of bad developments in the period. The topic is important and actual because of the fact that the overdue claims are one of the biggest challenges of fiscal policy in the Czech Republic over the past 15 years. Benefit from examining this issue should be to identify the causes of negative developments in the period. The theoretical part describes the theory of economic policy with special reference to one of their major segments, fiscal policy, which is the essence of tackle. Then it analyzes the theory of government failure, the theory of moral hazard, etc. The main content of the practical part is to analyze the volumes of different types of overdue receivables in the period, an analysis of the recovery of overdue receivables in the Czech Republic, the identification and characterization of the causes of negative developments and, last but not least, the draft national economic measures aimed at eliminating these causes.

The thesis takes a look at the reforms of the current Prime Minister of Japan Shinzo Abe and his Cabinet, specifically it evaluates the impact of the second arrow of Abenomics on the sustainability of the critical state of public debt of Japan.

The paper is dedicated to analysis of factors having direct influence on the business cycle of the Czech economy in the previous decade. Indicators for surveillance were chosen not only to inform about current development of the economy but were also chosen such indicators that provide direct news about the status. These both groups were matched and analysed and interlinked in order to get a complex review. The paper comprises a benchmark of the central European region of Visegrad Four -- Czech Republic, Poland, Slovakia, and Hungary which enables to assess Czech economy in a broader context.

Doctoral dissertation thesis deals with the issue of monetary integration within Europe. There are three main parts of it: the first one describes historical, political and also economic aspects of gradual monetary union formation, the second one analyses the impact of financial and economic crisis on the symmetry of Euro area development, and the last one deals with present debt crisis (and EU reaction on it). There are also involved possible future developments, when fiscal policy councils gained the most attention.

The objective of this thesis is the analysis of fiscal policy in the Russian Federation in 2008-2011. The thesis focuses on the beginning of the financial crisis in the Russian Federation, and then a period of economic recovery continued in the present. In the theoretical part is describing structure of the budget and its peculiar properties. Also discusses fiscal policy in the years 2008-2011. Significant emphasis is given to the analysis of changes in tax policy. The result of the analysis of fiscal policy is the evaluation of effect of the major fiscal measures during this period on the business sector.