This paper focuses on investigating the determinants of lending rates and interest rate spreads in Macedonia. In order … panel estimation techniques on a sample of commercial banks in Macedonia. Our results indicate that lending rates are mostly … to quantify the effect of various factors on lending rates and interest rate spreads during the 2001-2009 period, we use …

transmission channels. In addition, the effects of monetary policy on macroeconomic variables during the crisis are also analysed … the acute stage of the crisis, monetary policy was forced to react to pressures on foreign exchange market. However, there … are indications that, once the situation in the foreign exchange market stabilised, monetary policy started to support …

This paper focuses on investigating the determinants of lending rates and interest rate spreads in Macedonia. In order … panel estimation techniques on a sample of commercial banks in Macedonia. Our results indicate that lending rates are mostly … to quantify the effect of various factors on lending rates and interest rate spreads during the 2001-2009 period, we use …

This paper analyses the effects of loan supply, as well as aggregate demand, aggregate supply and monetary policy … well as on economic activity and prices. The effects of monetary policy on lending activity are fairly limited, although … policy instrument. However, the restrictive policy during the crisis for the purposes of maintaining monetary policy goals …

This study investigates the cyclical character of fiscal policy in transition countries in Central, Eastern and … sample and model specification. The study finds discretionary policy in the CESEE EU Member States and in the Western Balkan … to an acyclical stance. In addition, the analysis indicates considerable differences in the cyclical character of fiscal …

exchange rate regime. This model outlines the transmission mechanism of the monetary policy in the Macedonian economy, and it … supporting the monetary policy decision-making of the NBRM. …This paper describes the Macedonian Policy Analysis Model (MAKPAM), which is used at the National Bank of the Republic …