account movement in the case of the Macedonian economy, hoping to shed light on the influence of the fiscal policy on the … connection is only contemporaneous, implying that fiscal policy stance does not cause long lasting changes in the balance of … external position of the economy, as well as to provide useful guidance for policy makers about the sensitivity of the current …

This paper analyses the effects of loan supply, as well as aggregate demand, aggregate supply and monetary policy … well as on economic activity and prices. The effects of monetary policy on lending activity are fairly limited, although … policy instrument. However, the restrictive policy during the crisis for the purposes of maintaining monetary policy goals …

This study investigates the cyclical character of fiscal policy in transition countries in Central, Eastern and … sample and model specification. The study finds discretionary policy in the CESEE EU Member States and in the Western Balkan … to an acyclical stance. In addition, the analysis indicates considerable differences in the cyclical character of fiscal …

exchange rate regime. This model outlines the transmission mechanism of the monetary policy in the Macedonian economy, and it … supporting the monetary policy decision-making of the NBRM. …This paper describes the Macedonian Policy Analysis Model (MAKPAM), which is used at the National Bank of the Republic …

This paper aims to assess the usefulness of leading indicators in business cycle research and forecast. Initially we … indicators performs in forecasting turning points of the Macedonian business cycle by employing the Qual VAR approach of Dueker … (2005). In continuation, we evaluate the quality of the selected indicators in pseudo-out-of-sample context. The results …

GVCs in the last decade. Additionally, a short overview of the recent trade disputes between the US and China is given …This analysis is aimed at investigating the response of the CESEE economies, and especially of the Macedonian economy …, to the changing global environment in the latest period, predominantly to the recent challenges coming from the global …