The interplay between banks and the macroeconomy is of key importance for financial and economic stability. We analyze this link using a factor-augmented vector autoregressive model (FAVAR) which extends a standard VAR for the U.S. macroeconomy. The model includes GDP growth, inflation, the...

This book examines economic policies utilized within Southeast Europe in response to the COVID-19 pandemic. Covering countries both within and outside the European Union, the human and economic cost of the pandemic is calculated using macroeconomic models from a short and longer term...

This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high...

1. Introduction -- 2. European money and culture before 1914 -- 3. The 1920s: Lessons from Weimar -- 4. The Jazz Age: America in the 1920s -- 5. The money-haters: experiments in socialism -- 6. Europe between the world wars: a ferment of ideas -- 7. How Europe’s culture kept money under...

1. Macroeconomic developments and COVID-19 recession in (CE)SEE -- 2. COVID-19 contagion among countries: Croatia and Slovenia in Comparison -- 3. The Short-Term Economic Impact of the Covid-19 Pandemic in the EU -- 4. Macroeconomics of the COVID-19 Crisis -- 5. Central bank's balance sheet as a...