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,...

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 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...

In this paper we investigate if tariffs affect manufacturing value added in 25 countries from Central and Southeast Europe, the Commonwealth of Independent States and Middle East and North Africa over the period1990-2010. We use an instrumental variable approach, with the World Trade...

The objective of this paper is to assess whether the level of unionization and the rigidity of the exchange rate affected wages and monetary policy in SEE and CIS during the ongoing economic crisis. Towards that end, a New Keynesian model with price and wage rigidities is used. The model is...

The objective of this paper is to assess how the level of unionisation and the rigidity of the exchange rate affects wages and monetary policy in South-East Europe and the Commonwealth of Independent States, with a particular focus on the recent economic crisis. Towards that end, a New Keynesian...

In this paper we investigate if tariffs affect manufacturing value added in 25 countries from Central and Southeast Europe, the Commonwealth of Independent States and Middle East and North Africa over the period1990-2010. We use an instrumental variable approach, with the World Trade...

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...

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 shed some light on the role of the qualitative instruments for monetary policy conduct in China. The unobservable qualitative instruments are calculated by Kalman filtering and then are used in a Taylor rule regression, to estimate if and how they react to...