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The aim of this paper is to test the impacts of oil price increases on monetary policy implementation in the largest oil importers. For that purpose, we estimate structural vector error correction (SVEC) models to sh...

Тaking into account the specific features of the Macedonian economy, as a small, open economy with a fixed exchange rate, the goal of this research is to contribute to the discussion of whether countries with ...

The aim of the paper is to determine the interdependency of both balance of payments and fiscal deficit in the context of liberalized systems of capital flows with mainly stabile and appreciated exchange rate and their i...

For each country, joining the union is a unique process, considering advantages and disadvantages which a country can thus obtain. In order to fulfill conditions for the EU accession, transition countries must achieve di...

This paper examines the causal relationship between interest rate differential (IRD) and international short-term capital flow (SCF) to determine whether such a relationship in China supports the Mundell-Fleming model. W...

The mobility of factors of production from the very beginnings of the theory of the optimal currency area (OCA) stands out as one of the primary mechanisms for achieving a balance of payments, i.e. sustainability of th...

The aim of this paper is to verify the impact of the euro adoption on the complexity of goods in Slovenian exports. To the best knowledge of the authors, it is the first study on the consequences that the elimination o...