This article summarizes the main findings on problems related to the measurement and identification of business cycles. The aim of this study is to define and identify the determinants of business cycles. This paper provides an overview of the methodology and its future course. Our investigation...

This article aims to explain the idea of X-efficiency, which indicates the difference between potential and actual output. If any business subject produces below its own potentials, it can be considered X-inefficient. To determine whether X-inefficiency in Croatian companies exists, how large it...

In this paper we analyse the short- and long-run relationship between employment growth, inflation and output growth in Phillips' tradition. For this purpose we apply FMOLS, DOLS, PMGE, MGE, DFE, and VECM methods to a nonstationary heterogeneous dynamic panel including annual data for 119...

This paper analyses the long-memory properties of both the conditional mean and variance of UK real GDP over the period 1851-2013 by estimating a multivariate ARFIMA-FIGARCH model (with the unemployment rate and inflation as explanatory variables). The results suggest that this series is...

Academic analyses and impact evaluation studies produced by the international development community almost all conclude that the microfinance model has made an important net contribution to the economic and social recovery of post-war Bosnia and Herzegovina (hereafter Bosnia). However, as we now...

This paper presents a new model for defining the poverty line using the Kakwani (2010) approach and developing a possible candidate for the construction of a new official poverty line. The model uses consumer theory to construct both food and non-food poverty thresholds and ensures that the...

Innovation has long been recognized as one of the key elements of economic progress, though some say that its direct relation to the concept of economic growth remains rather controversial. Productivity growth is the key economic indicator of innovation, non-the-less. Growth theory assumes that...

This study shows the relationship between income distribution and other relevant economic variables and their impact on income distribution. Panel data analysis is used to study 200 world economies and identify main income determinants. Using such a large panel to study income distribution and...

Human capital as a critical engine of economic growth is present in many empirical and theoretical body of knowledge on growth models and theory. However, the conclusion on its importance as a driver of economic growth remains inconclusive. The aim of this study is to provide and detailed...

For centuries, scientists from various scientific fields have been leading lively discussions on the (bidirectional) relationship between population growth and economic growth. Particular attention was given to the nature of the population growth variable, i.e. whether it is an endogenous or...