For proper valuation of risk to which the portfolio of financial assets is exposed, it is necessary to forecast the second moments of financial time series, that is variabilities. The empirical investigations show that financia time series are heteroskedastic, i.e. their volatility is not...

(1) ... abandonment of own currency and irrevocable fixing or persistent stabilization on inadequate exchange rate level of national currency limits the space of establishing own economic policy of a country in case of recession: + (2) ... Croatia still needs its own development strategy in...