Volume 11, Issue 3, 2011 1 EDITORIAL Dear readers, Since the last issue we have made several changes towards further impovement of the presentation and the attractiveness of Review of Economic Perspectives. We have redesigned the web pages so that they would be better arranged, and updated its contents, too. We are also continually working on us being included in prominent abstracting and indexing services. We hope to be able in the next few months to announce further success in this field to you. The present issue contains three loosely related articles. The first article from Juraj Nemec, David Špaček, Patrycja Suwaj and Artur Modrzejewski presents the research in the area of public administration resulting from a wider international cooperation. The authors focus on the regions of Central and Eastern Europe, namely the Czech Republic, Slovakia and Poland, and scrutinize public sector performance and public management education. The second article from Petra Dvořáková also deals with the field of public administration. This time, however, fiscal imbalance and fiscal risks management on the level of Czech regions are of author’s interest. The third article from Martin Slanicay has the macroeconomic character. Within the paradigm of New Keynesian DSGE models, his article examines the question whether there exist asymmetric shocks and structural differences between the Czech economy and the Euro Area 12. Jan Jonáš