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 objective of this paper is to examine the factors influencing worker’s job satisfaction aside the conventional factors (personal background, individual labour market characteristics, organisational culture, and so on) and introduce the basic cultural values and beliefs, and then to put...

In this paper we analyze the determinants of real wages in Macedonia’s manufacturing sector. We emphasize the macroeconomic aspects involved, and use econometric panel data techniques to model the behaviour of real wages for the period 2005:1-2010:12, using monthly data. In the study we found...

The objective of this paper is to empirically examine the determinants of bilateral trade of Macedonia, with particular emphasis on the trade with the EU and CEFTA-2006 countries. The standard Gravity model is used to measure the determinants of the bilateral trade in a panel framework. Results...

Income inequality came to the fore with the recent financial crisis, when many authors pointed at it as the main cause of the crisis. This paper aims to contribute to the understanding of the relationship between income inequality and the recent global financial crisis. It assesses whether...

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...

The objective of the paper is to evaluate the forecasting power of the leading composite index of Macedonia. The leading index is a weighted index of indicators which are considered to lead the economic cycle. The main dynamic model in which, first, GDP is represented as autoregressive process,...

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...

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...

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...