Naslov
PRICE-SPECIE-FLOW MECHANISAM: THE CASE OF CROATIA

Autori
Nadoveza, Ozana ; Šimurina, Jurica

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
An Enterprise Odyssey: Corporate governance and public policy - path to sustainable future / Galetić, Lovorka ; Šimurina, Jurica - Šibenik : Ekonomski fakultet Sveučilišta u Zagrebu, 2012, 103-119

ISBN
978-953-6025-57-2

Skup
An Enterprise Odyssey: Corporate governance and public policy - path to sustainable future

Mjesto i datum
Šibenik, Hrvatska, 13.06.2012. - 16.06.2012

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
inflation; foreign debt; internal and external stable state; unrestricted VAR

Sažetak
The aim of this paper is to explore how well does the theorethical model of the automatic adjustment of internal (prices) and external (foreign debt) balances fit Croatian reality. In other words, this paper studies the tendency of the Croatian economy to converge to a stable external and internal balance. The first part of the paper is analysing impulse functions derived from the unrestricted VAR model, whereby estimated Jacob matrix denotes coefficients by the prices and external debt. It is important to note that necessary and sufficient conditions for local asymptotic stability of stationary state implies that the trace and determinant of the Jacob matrix exceeds zero and is bellow zero respectively. The estimated model shows probable divergence of prices and external debt from stationary equilibrium. The second part of the paper brings the constraints and suggests possible ways to get 'better' estimator.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA