This topical book addresses the need for emerging economies in Central, Eastern and South-Eastern Europe to find a new, sustainable growth model that fosters continued convergence with the EU without leading to the build-up of new vulnerabilities.

The successful implementation of the monetary policy in practice to a large extent depends on the understanding of the functioning of the transmission mechanism of the monetary policy – the channels by which the monetary impulses are transmitted through the economy. In this paper, an analysis...

This paper provides an overview of the macroprudential measures undertaken by the National Bank of the Republic of Macedonia to prevent further deterioration of the systemic risk and to promote resilience of the banking system. The measures were generally aimed at addressing the time dimension...

The ambition of this paper is to analyse real exchange rate dynamics in Macedonia relying on a highly disaggregated dataset. We complement the indirect evidence reported in Loko and Tuladhar (2005) and we provide direct evidence on the irrelevance of the Balassa-Samuelson effect for overall...

This study investigates the degree of economic integration that the group of selected South East European countries have achieved with the euro area. The evidence of this study suggests that all four selected South East European economies are in sync with the euro area cycle, and respectively...