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TABLE OF CONTENTS: Preface - I. DEVELOPMENT ECONOMICS - 1. GUNTHER GRATHWOHL: The Macroeconomic Structure of Less Developed Countries ... 3 - II. RESEARCH ON THE ALBANIAN ECONOMY - 2. ARJETA ABAZI: Albania and its Monetary Transmission Mechanism ... 27 - 3. DORIANA DERVISHI: The Countries of...
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Based on the experience of the Bank of Albania, the paper proposes a framework to estimate the interest rate lower bound in small, open, and euroized economies. The paper introduces a stylized monitoring tool to assess the unintended consequences of low policy rates. The paper is the first...
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