The newly created economies in the former Yugoslav space advance on the transition road with more or less success. Each of the former Yugoslav republics has implemented its own transition policy, encountering different economic, political and social opportunities, as well as constraints. From...

Since the mid-1990s, Yugoslavia, a once relatively prosperous region of Eastern Europe, has slowly started to move on through several separate and different entities. Although they belonged to the same system, evidence of inherent discrepancies within the regional parts was difficult to ignore...

The newly created economies in the former Yugoslav space advance on the transition road with more or less success. Each of the former Yugoslav republics has implemented its own transition policy, encountering different economic, political and social opportunities, as well as constraints. From...

Fixed versus flexible exchange rate dilemma has become a subject of rigorous academic discussions for decades. Advantages of exchange rates flexibility contrasted benefits of exchange rate stability though a phenomenon known as the fear of floating favoured exchange rate variability and its...

This paper contributes to the understanding of the international financial linkages created by US banks by looking at the geographical composition and structure of the balance sheet of foreign branches. The empirical investigation, which is based on a novel dataset containing balance sheet...

Vulnerability of exchange rates to the external price shocks as well as their absorption capabilities represents one of the most discussed area in the fixed versus flexible exchange rate dilemma. Ability of exchange rates to serve as a traditional vehicle for a transmission of external shocks to...

Time-varying exchange rate pass-through effects to domestic prices under fixed euro exchange rate perspective represent one of the most challenging implications of the common currency. The problem is even more crucial when examining crisis related redistributive effects associated with relative...

In the following paper we examine the main aspects of international investment position development in the selected new European Union member countries since the year 1999, with an emphasis on their international financial assets and liabilities structure. We assess the extent of the...

The stable macroeconomic environment, as one of the primary objectives of the Visegrad countries in the 1990s, was partially supported by the exchange rate policy. Fixed exchange rate systems within gradually widen bands (Czech republic, Slovak republic) and crawling peg system (Hungary, Poland)...

One of the most challenging areas relating to the European Monetary Union (EMU) enlargement is the question of new member countries’ vulnerability to exogenous shocks related to euro adoption. Even if well prepared, and also considering the business cycles of the EMU candidate countries became...