The paper delineates the properties and specificities of modern Croatian money-market transactions and their transition as well as the Solutions applied in this segment by the Republic of Croatia from the moment of declaration ofits in dependence up to nowadays. Such a contemporary monetary...

The steps in this paper are: (1) to recall the S = I relation and its position in macro-economics, (2) to observe how this equation is very relevant again with the renewed relunctance of banks to finance investments, (3) to point out that consumer durables are investments too, (4) to highlight...

In this paper we examine the importance of institutional arrangements and factors related to the economic structure to explain inflation outcomes in Latin America. We perform a dynamic panel data analysis with an ample set of variables that allowed us to consider the temporal dimension of the...

We analyze if and to what extent fundamental macroeconomic factors, temporary influences or more structural factors have contributed to the low levels of US bond yields over the last few years. For that purpose, we start with a general model of interest rate determination. The empirical part...

In both developed and developing countries, there are basically two main sources of economic instability: exogenous shocks and inappropriate policies. Exogenous shock (terms-of-trade shocks, natural disasters and capital flow reversals) can throw an economy into disequilibrium and therefore...

This paper evaluates the main effects of the implementation of tax flat system in Romanian economy. If accompanying measures are not going to be enforced, the introduction of the flat rate of 16% in Romania will lead to unsustainable budgetary deficits and inflationist pressures. The flat tax...

This paper outlines the practical steps which need to be undertaken to use autoregressive integrated moving average (ARIMA) time series models for forecasting Irish inflation. A framework for ARIMA forecasting is drawn up. It considers two alternative approaches to the issue of identifying ARIMA...

Using an analog of the boundary element method in engineering and science, we analyze and model unemployment rate in Austria, Italy, the Netherlands, Sweden, Switzerland, and the United States as a function of inflation and the change in labor force. Originally, the model linking unemployment to...

It has been recently argued that the flattening of the Phillips curve, observed in the main industrial countries over the last two decades, is due to globalisation, which exposes domestic firms to fiercer international competition and severs the link between domestic demand and pricing. A more...

This paper analyses the major changes in textile products, production costs, prices, and market orientations during the era when the ‘draperies’ or cloth industries of the late-medieval Low Countries and England had become increasingly dependent upon northern markets and the German Hanseatic...