This paper evaluates the direct effects of the Slovenian public work program on the youth. The effectiveness of the program is measured by re-employment probability. A Heckman correction of selection is applied to estimate the average program effects. The Heckman selection estimator is an...

This paper evaluates and compares the direct effects of the Slovenian institutional training program on youth. The effectiveness of the program is measured by reemployment probability. A nonparametric matching approach, based on conditional independence assumption, is applied to estimate the...

Innovation has long been recognized as one of the key elements of economic progress, though some say that its direct relation to the concept of economic growth remains rather controversial. Productivity growth is the key economic indicator of innovation, non-the-less. Growth theory assumes that...

The aim of this paper is to evaluate the controversies of fiscal and monetary policies in defining business cycles in Croatia, i.e. to answer the question whether they can, and in what way, determine the cyclical movements. Using Hodrick-Prescott filter for extracting cycles from selected...