This paper deals with real effects of bank-intermediated international capital flows to 11 CESEE coun-tries 1997-2012. The purpose is to check for structural breaks in the short-run relationship between bank-intermediated capital flows and output growth since 2008. The relationship is...

U radu se analiziraju mogućnosti i ograničenja fiskalne politike u Hrvatskoj. Prvo se analiziraju brojna ograničenja fiskalne politike u Hrvatskoj od (ne)koordinacije fiskalne s monetarnom politikom, lošeg proračunskog planiranja, trendova u kretanju javnih prihoda, problem postojeće...

In this paper we use structural VAR model to analyze dynamic effects of fiscal shocks on economic activity in Croatia from 2000Q1-2012Q2. Due to the fact that Croatia is a small open economy we assume that shocks of foreign origination can have notable effects on its performance. Therefore,...