As was first stressed by the classical economists Adam Smith and David Ricardo, international trade plays a crucial role in the growth process. The paper aims to analyze the influence of foreign trade on economic performance in the wood processing industry (WPI) of Czechia and Slovakia. The...

Different theoretical and empirical studies lead to the different results. Different theories suggest a positive as well as a negative relation between the terms-of-trade and trade balance. The traditional Keynesian Harberger-Laursen-Metzler effect of the terms-of-trade on the trade balance is...

Following Surico (2007a, b), we analyse the monetary policy of the National Bank of Slovakia (NBS). We can verify by mentioned approach potential asymmetries in preferences of the monetary authority as well as potential nonlinearity in the economic structure. If a monetary policymaker has...