The aim of this paper is to investigate the size of the government in 12 OECD countries. Data are gathered from Penn Tables. Clustered robust OLS estimation techniques have been used. Also Panel estimation techniques have been applied, FE and RE estimation. The functional form is quadratic is...

The aim of this paper is to examine current macroeconomic thought about economic and financial crisis. Since 1960's two schools of thought are pre-dominant in macroeconomics Keynesian and neo-classical. Many authors from neo-classical economists such as Robert Lucas (1976), gave a critique to...

There are different types of audit, such as financial audit, regulatory audit, operational audit of performances, audit of information systems, environmental audit and others. But basically, we distinguish two types of audit which will be the main focus of attention in this work. External audit,...

Many empirical studies have been done to investigate whether trade is influenced by exchange rate volatility. Conventional wisdom is that increased exchange rate volatility inhibits the growth of foreign trade.This MRA extends by 10 studies and 100 observations Pugh's and Coric (2008) meta...

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...

The aim of this paper is to investigate the issue of R&D investment and the market value of the firm. This idea dating back from Arrow paper, later developed by Paul Romer, but in the area of economic growth. Zvi Griliches (1979), first introduced the production function, which later would be...

In this paper we investigate Feldstein Horioka puzzle for 14 CEE countries (Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Greece, Hungary, Kosovo, Latvia, Lithuania, Macedonia, Estonia, Poland, Romania, Serbia). In our paper when we investigate the whole sample of 14 CEE countries we find...

This paper uses quarterly data on Macedonian nominal effective exchange rate for the time period 1992 to 2009 along with six other variables to investigate the nominal effective exchange rate neutrality. SVAR and Impulse response functions had been used to prove the hypothesis. Empirical...

The research in this paper is focus on macroeconomic analysis of trade and other relevant indicator for real economy such as government net debt, exchange rate, interest rate, and especially the correlation between trade and growth. Today is widely accepted that openness of counties have...

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...