The objective of this study is to investigate whether remittances in Macedonia affect poverty and inequality. Using two household surveys, one conducted in 2008, one in 2012, we find that remittances reduce both poverty and inequality. The inequality-reducing effect has been particularly present...

Any attempt to model monetary policy in China has to take into account two ‘specifics’ of the Chinese monetary policy: the reliance on several operational instruments, both quantitative (open market operations, discount rate, reserve requirement) and qualitative (selective credit allowances,...

The recent financial and economic crisis has triggered bold and diverse policy responses to prevent further, sharper and prolonged adverse effects to the financial and the real sector. The measures for alleviating the cycle were a feature both of the advanced and the emerging and developing...

The real exchange rate is a macroeconomic variable of a crucial importance, since it determines relative price of goods and services home and abroad, and influences economic agents’ decisions. The real exchange rate needs to be on the right level, as it can result in wrong signals and economic...

In this paper we construct a hedonic house price index for Macedonia, for the period 2000-2008. Then we investigate whether house prices in Macedonia are in line with the fundamentals, finding a positive answer.

The objective of this paper is to assess if inflation targeting post-communist economies performed better, in terms of output growth, during the crisis than their non-inflation targeting counterparts. The paper also puts the issue in the context of the preconditions of inflation targeters to...

This study investigates if and how different episodes of large net inflows – export boom, remittances, FDIs, or aid – caused Dutch disease in Latin American countries. We investigate this disease – i.e. the decline of manufacturing output – with special reference to the channels through...

The objective of this paper is to test the exchange rate regime – growth nexus in transition economies by looking if and how some inherent characteristics of the transition process might have affected the de-facto classifications of exchange rate regimes. 28 transition countries of Central and...

The objective of this paper is to simulate the effects of two alternative social policies – individual and family in-work benefits – on labour market choices in Macedonia, with special reference to poor and females. To that end, we use ex-ante analysis relying on a combination of a tax and...

The objective of this research is to understand if large gender employment and participation gaps in Macedonia can shed some light on the gender wage gap. A large contingent of inactive women in Macedonia including long-term unemployed due to the transition process, female remittance receivers...