In this Occasional Paper the Directorate General for Economic and Financial Affairs publishes its overview and assessments of the 2011 Economic and Fiscal Programmes (EFP) of the potential candidate countries (Albania, Bosnia and Herzegovina and Serbia). In 2001 a regular economic fiscal...

Vector autoregressive (VAR) models are commonly used for macroeconomic analyses. However, there are several reasons why this tool has not been applied to the case of Bosnia and Herzegovina. As Bosnia and Herzegovina has a currency board system, I use a VAR model with exogenous variables (VARX)...