In this paper we investigate Harrod Balassa Samuelson (HBS) effect in 11 transition countries. A large number of empirical papers based on quite limited datasets has already been published on HBS in Eastern Europe. The major contribution of this paper is the fact that we estimate HBS with NACE6...

The paper investigates effects of the tourism boom on the real estate market in Croatia. According to the general equilibrium models of the tourism intensive small open economy, the most important benefit of the tourism is reflected in the fixed-factors rents, namely real estate market rents....

In this paper exchange rate pass-through effect in Croatia is estimated with nonlinear (asymmetric) threshold autoregressive model (TAR). In total 12285 regressions is estimated and a strong case of nonlinearity with single threshold is proven. According to our estimation there is a threshold at...

The focus of this paper is to investigate technology changes and influence on economies since the First Industrial Revolution. The First Industrial Revolution was the first point in time when both increase of GDP per capita and population occurred at the same time (avoiding the Malthusian trap)....

In this paper we investigate purchasing power parity in the CEE and post-War former-Yugoslav states during EU integration process 1994-2006. This work stems from longer term tests of real exchange rate convergence in the former Yugoslavia. This period is of interest on two fronts: First, it...

In this paper multivariate Johansen cointegration technique is used in order to estimate health demand function in Croatia. Empirical estimate is based on the theoretical foundation of Grossman's model. According to the estimate, the number of physician visits in Croatia is a function of...

In this paper we investigate the real interest parity condition in ten Eastern European transition countries during 1997-2009 period. Our sample is interesting for three reasons: It covers the second stage of economic transition in the aftermath of the collapse of socialism; the establishment of...

The paper surveys empirical evidence on the Harrod-Balassa-Samuelson effect. The survey encompasses the published empirical work on the phenomenon since its (re)discovery in 1964. In total, 58 empirical papers are examined within a specialized analytical framework. The body of empirical evidence...

In this paper, framework of the relative labor cost has been used in order to analyze relative competitiveness of the economic agents in the Croatia and five accession countries. Therefore, unit labor costs have been calculated for the Croatia, Czech Republic, Hungary, Poland, Slovakia and...