Vládní výdaje v dobách recese a růstu

The thesis provides an appraisal of government spending in the countries of the European Union during a business cycle. The theoretical part is dedicated to fiscal policy and expert studies concerned with this area. This kind of studies points at the issue of wrong timing of fiscal policy not only in the developing countries, but also in some of the European Union countries. The practical part assesses government and investment spending in particular European countries and decides in which of them government spending is pro-cyclical and in which it has a counter-cyclical function. A closer look is then given to the analysis of fiscal policy in the Czech Republic.