Souvislosti hospodářského a politického cyklu v České republice

Abstract

This paper tests the link between the Business and Political Cycle of the Czech Republic. The paper is based on two basic models. The first model is based on the work of Alesina and Roubini , who testing the presence of political business cycles in the economies of OECD countries. With this model we were able to test four well-known theory of political business cycles. The second model is based on the work of Galeottiho and Salford. This model is focused only on testing opportunistic theories of political business cycle. Unlike the model of Alesina and Roubini the second model tests the response of economy in period preceding and following an election. After the analysis we could not be able to clearly confirm a hypothesis about the effect of the politico business cycle in the Czech Republic. The link between the Business and Political Cycle of the Czech Republic was not confirm.