Czech Republic: Selected Issues

Author: International Monetary Fund

Volume/Issue: Volume 2008 Issue 040

Publication date: January 2008

ISBN: 9781451810271

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Labor , Economics- Macroeconomics , Public Finance , Taxation - General , ISCR , CR , monetary policy , deficit , tax , GDP , expenditure , inflation target , labor market , inflation pressure , debt sustainability , GDP deficit , inflation adjustment , Social security contributions , Income , Personal income , Wages , Corporate income tax , Central and Eastern Europe , Western Europe , Global

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Summary

This paper reviews the fiscal reform of the Czech Republic, its key reform measures, and structural implications. The study also focuses on key challenges and demographic pressures facing the Czech economy, and describes the analytical framework of Global Fiscal Model (GFM) with technical details. It analyzes tax and expenditure measures and implications of additional measures for fiscal consolidation on debt sustainability. It reviews the formulation of the Czech National Bank (CNB) and also the Global Integrated Monetary and Fiscal Model (GIMF) to analyze monetary policy challenges lying ahead and the targets for reducing inflation.