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...

The recent financial and economic crisis has triggered bold and diverse policy responses to prevent further, sharper and prolonged adverse effects to the financial and the real sector. The measures for alleviating the cycle were a feature both of the advanced and the emerging and developing...

In this paper we construct a hedonic house price index for Macedonia, for the period 2000-2008. Then we investigate whether house prices in Macedonia are in line with the fundamentals, finding a positive answer.

The real exchange rate is a macroeconomic variable of a crucial importance, since it determines relative price of goods and services home and abroad, and influences economic agents’ decisions. The real exchange rate needs to be on the right level, as it can result in wrong signals and economic...

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,...