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 article analyses the relationship between housing wealth and consumption for four European post-transition economies: Bulgaria, Croatia, Estonia and the Czech Republic. We use a vector error correction model and a threshold error correction model in order to asses the long-run and the...

Although researchers have confirmed the impact of tourism on housing prices in many destinations affected with overtourism, they do not consider housing affordability in relation to the population’s income levels. This study explores the relationship between tourism activity and housing...

We explore how improvements in digital infrastructure contribute to digital transformation of the Croatian economy. More specifically, we investigate under what conditions improvements in broadband speed are conductive for firm entry in digitally intensive sectors at the local level (cities and...

Although theoretical models describing the influence of tourism on welfare of the host economy suggest that increase in prices is a direct outcome of intensified tourism activity, so far this outcome has not been put to the empirical test. Therefore, we use panel data models on a data set...

The aim of this paper is to analyze the main determinants of the economic life in Croatian municipalities. For that purpose, we collected data related to the municipal budgets and business results of entrepreneurs registered in 427 municipalities during 2007-2011 period. In order to determine...

The goal of this research is to estimate the effect of resource eallocation from the manufacturing to the real estate economic sector on exporting activity in Croatia, a small open post-transition country that experienced a real estate boom during the previous decade. This paper follows the work...

Cyclically adjusted government budget balance has often been used in the evaluation of fiscal stance. It indicates how much room fiscal authorities have to act anticyclically. The main idea is to separate temporary (cyclical) effects on the budget from those caused by discretionary measures of...

This article studies house price developments in six European countries: Croatia, Estonia, Poland, Ireland, Spain and the United Kingdom. The main goal is to explore the factors driving the rise of house prices in transition countries. Because house price increases in the last two decades are...

We use a nonlinear framework in order to explore house price determinants and their adjustment properties. We 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, Croatia,...