This study examines the long- and short-run relationship between private consumption, housing wealth, stock market wealth and income. In order to asses this relationship empirically, we use pooled mean group estimators of dynamic heterogeneous panel data on a sample of 30 developed and emerging...

The main objective of this paper was to quantify the long- and short-term impacts of labour market reforms on economic activity in EU countries, including Croatia. Therefore, we derived a model using the pooled mean group estimator (PMG) for the period from 2000 to 2011. Before performing...

This study analyzes the long-run cointegration relationship between equity and real estate prices in 30 developed and emerging economies divided into four subpanels related to the income level and the financial market structure. We test for cointegration between equity and real estate prices...

We explore the link between stock market wealth, housing wealth and aggregate consumption for a sample of four European post-transition economies. We use Johansen co-integration, vector error correction models and impulse response functions in order to assess the long run and the short run...

This paper describes an empirical model of country risk premiums and their determinants, relying on recent theories of balance sheet effects. We approach the latter by introducing a novel approach to country risk premiums that assumes that nominal exchange rates can move away from or towards...

Ovaj članak se bavi statističkom analizom temeljnih pokazatelja poslovanja gradova u Hrvatskoj. Analiza je izvršena na uzorku od 127 hrvatskih gradova, pri čemu je podjednak naglasak stavljen na ocjenu uspješnosti poslovanja gradskih samouprava, kao i na ocjenu uspješnosti poduzetnika koji...

In this paper we asses the ability of alternative time series models to produce accurate fiscal revenue forecasts in a transition country and compare them to offi cial forecast. We take on a disaggregated approach and estimate separate models for seven revenue sources. Alternative time series...

The aim of this paper is to construct a quarterly inflation model for Croatia. In order to model inflation dynamics se use the general-to-specific approach. The advantage of this approach is its ability to deliver results based on underlying economic theories of inflation, which are also...

This paper investigates the long-run and short-run determinants of financial euroization (FE) using both linear and threshold models. We model deposit euroization (DE) and credit euroization (CE) in Croatia, a post-transition country recording very high and persistent unofficial FE. The results...

The authors use a nonlinear framework in order to explore house price determinants and adjustment properties. They test for threshold cointegration using a sample of four developed countries (the United States, the United Kingdom, Spain, and Ireland) and four transition countries (Bulgaria,...