This paper aims to analyse macroeconomic and institutional empirical determinants of growth of NPL ratios. Research is focused on selected CEEC and SEE countries in the period 2006-2013. For our analysis we use static panel model approach with the logarithm of share of NPLs to total loans as a...

The large volatility of GDP due to the economic crisis, particularly in transition economies, has brought the issue of automatic stabilizers back into the focus of economic policy. The vast majority of empirical literature in this field relates to the estimation of the size of automatic...

Contemporary tax theory and practice provides two fundamental concepts for taxation of personal income: scheduler and global. Several systems have been derived from these basic models, including combined, flat, dual and negative income tax. Dual income tax, the subject of this paper, requires...

For many years Serbia has been running fiscal deficit, which has considerably increased since 2008, leading to rise in public debt from 29.2% of GDP in 2008 to 60.3% of GDP in the end of 2012. This paper is aimed at resolving the dilemma if the economic recovery would be sufficient to reduce...