The real exchange rate is one of the key economic variables determining country’s macroeconomic performance. It reflects international competitiveness of the domestic economy and has a direct impact on country’s export and import development. The equilibrium exchange rate is crucial as it...

The development of the output during the last decades and the same time with growing population namely energy, raw material demands for industry and food have highlighted the conflict between man and nature, between the processes of social-economic development and natural resources with...