The European integration process is theoretically supported by optimum currency area (OCA) theory which originates from debates about fixed versus flexible exchange rates, treating a common currency as the extreme case of a fixed exchange rate. The key issues of theoretical and empirical...

The economic performance of an enterprise obviously depends on various internal and external factors. Those factors are not only the input variables entering various aggregated calculations but also analytical inputs as the effectiveness of company processes, management of costs, innovation...

One of the most enchanting areas in economics is the forward thinking. While Malthus and Ricardo agreed on the gloomy vision of the future, Mill described the wider stationary state and foresaw it in a more optimistic way. Space sciences and improvements in our technology provided us with the...

The paper deals with the issues concerning evaluating the quality of a destination in the context of tourism. A destination has to be looked on as a complex product of tourism consisting of products, services, natural resources, artificially created attractions and information being connected....

How can errors in decision-making by rationally behaving individuals be explained? The concepts of bounded rationality proposed by H. Simon and of imperfect information in the complex reality by F. Hayek attack the over-restrictive assumption of perfectly informed individuals or organisms in...

Scholars making economic policy recommendations to resolve corruption problem use several approaches, the most dominant of which are the principal-agent and rent-seeking theories. In this paper, we argue that the principal-agent theory has problems accounting for the environment in which the...

One of the most enchanting areas in economics is the forward thinking. While Malthus and Ricardo agreed on the gloomy vision of the future, Mill described the wider stationary state and foresaw it in a more optimistic way. Space sciences and improvements in our technology provided us with the...

The purpose of our paper is to define rules for decision of existence spurious synchronization of countries within the currency area. We devote this new methodological approach from an empirical research based on the variability of a dynamic correlation (correlation in frequency domain). We...

The paper deals with assessing the common trends in business cycle similarity and convergence in Europe. The main goal of the paper is to identify common cyclical co-movements and trends in convergence among the European countries so that the emerging European business cycle could be identified....

At vero Agricultural activity and forestry are largely different from other activities that the entities perform in order to achieve profit. Unlike other business entities, agricultural produce is significantly dependent on natural climatic conditions, and therefore a particular specialization...