Since the beginning of the decade, numerous economic and monetary unification projects have aroused a lot of interest. The reinforcement of economic and monetary integration, especially in Europe, has set a trend for the creation of a monetary union in many others regions of the world. Since...

This paper analyzes stabilization policy under predetermined exchange rates in a cash-in-advance, staggered-prices model. Under full credibility, a reduction in the rate of devaluation results in an immediate and permanent reduction in the inflation rate, with no effect on output or consumption....

The author starts from the assumption that Croatia will access the European Union. Following assumption, he analyzes the possible scenarios of Croatian strategy based on the achievements the country’ s monetary policy, on the degree of acceptance of the convergence criteria and on...

An alternative theoretical setting is presented to characterise the money demand and the monetary equilibrium. Two main hypotheses are stated that contradict the assumptions normally sustained by scholars and policy-makers: National output is assumed to be a random variable, and people are...

The Long-Wave theories of Nikolai Kondratiev and others claim to find mathematic waves in economic and other social data which are at present in dispute. Currently the theory is considered outside the scope of mainstream economics under several rationales. Despite the lack of mainstream...

Through their goals, the macroeconomic policies aim to the near or farther future, this being the reason for which evolutions have to be anticipated. Deliberately or not, the decision-makers continuously operate with mental schemes of prospective nature. Many times, these procedures are purely...

The Mean Value Theorem is a great theory and guide for any body who deals with the rate of change. This paper aims to add something to the theory. Even a small addition is better than none, only time will tell the significance of the addition.

The present study investigates the role of exchange rate and interest rate in stock price discovery in Indonesia. Indonesia is experiencing a kind of bubble which is indicated by surplus of current account accompanied by high capital inflow. Capital inflow simustaneusly influences exchange rate,...