Politická ekonomie 2020, 68(4):462-482 | DOI: 10.18267/j.polek.1290

Vztah mezi saldem hospodaření a dluhem vládních institucí

Václav Rybáčeka, Petr Musilb
a Univerzita Jana Evangelisty Purkyně, Fakulta sociálně ekonomická, Ústí nad Labem, Česká republika
b Vysoká škola ekonomická v Praze, Fakulta informatiky a statistiky, Praha, Česká republika


Relation Between Government Balance and Debt

The relation between government deficit and debt is not straightforward and draws intensive attention of users and analysts. In reality, surplus balances can accompany increasing debt even in the long term. The objective of the paper is thus to scrutinize, by analysing international data, the closeness of both aggregates, which is essential for assessment of the long-term sustainability of public finances. The text explains factors entering between both macroeconomic indicators, as they are currently defined. Furthermore, the text discusses alternatives to currently defined debt and their closeness to the government final balance. The development of indicators is analysed using data for the Czech Republic. Within the data availability constraints, an international comparison of balance sheet indicators is presented.

Keywords: convergence criteria, balance, debt, government
JEL classification: E62, H11, H6

Received: September 14, 2019; Revised: March 18, 2020; Accepted: June 16, 2020; Published: August 24, 2020  Show citation

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Rybáček, V., & Musil, P. (2020).
Relation Between Government Balance and Debt. Politická ekonomie, 68(4), 462-482. doi: 10.18267/j.polek.1290
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