In this paper, we use the structural VAR model to analyse the dynamic effects of (discretionary) fiscal shocks on the economic activity of the private sector in Croatia between 2000 and 2012. Due to the fact that Croatia is a small open transition economy, we assume that shocks of foreign origin...

Croatia has joined the European Union as a country with several substantial structural problems, of which the most important is weak competitiveness. Although competitiveness can be viewed from the ‘institutional’ perspective, which includes World Development Indicators (WDI) and Doing...

This paper deals with real effects of bank-intermediated international capital flows to 11 CESEE coun-tries 1997-2012. The purpose is to check for structural breaks in the short-run relationship between bank-intermediated capital flows and output growth since 2008. The relationship is...

U radu se analiziraju mogućnosti i ograničenja fiskalne politike u Hrvatskoj. Prvo se analiziraju brojna ograničenja fiskalne politike u Hrvatskoj od (ne)koordinacije fiskalne s monetarnom politikom, lošeg proračunskog planiranja, trendova u kretanju javnih prihoda, problem postojeće...

In this paper we use structural VAR model to analyze dynamic effects of fiscal shocks on economic activity in Croatia from 2000Q1-2012Q2. Due to the fact that Croatia is a small open economy we assume that shocks of foreign origination can have notable effects on its performance. Therefore,...

This paper explores the impact of the USD/EUR exchange rate on inflation in the Central and East European countries (CEEC). In particular, we analyse which portion of the variation in inflation in the CEEC can be attributed to the USD/EUR exchange rate, as an external shock. In addition, we...