In this paper the issue of causality between wages and prices in R. Macedonia has been tested. OLS relationship between prices and wages is positive; productivity is not significant in determination of prices or wages too. Engle-Granger test proved that variables of interest CPI and average real...

In this paper we test New Keynesian propositions about inflation and unemployment trade off with the New Keynesian Phillips curve and the proposition of non-neutrality of money. The main conclusion is that there is limited evidence in line with the New-Keynesian theory. Money and growth are...

The main aim of this study is to investigate the relationship between public spending on education after the process of decentralization and economic growth in Macedonia as low income state. This paper do not have intention to make a picture of education system in Macedonia, how it functions or...