Apostolov, Mico; Josevski, Dusko - In: Journal of Central Banking Theory and Practice 5 (2016) 1, pp. 141-157
Applying IS-MP-IA model and the Taylor rule to selected Southeast European economies (Albania, Bosnia and Herzegovina, Macedonia and Serbia) we find that the change of effective exchange rate positively affects output, while the change of the world interest rate negatively affects output or it...