Research Papers
The Research Papers consist of research studies and analyses on subjects related to theoretical and practical aspects, relevant for current and future economic and financial developments.
Note: The views expressed in the Research Papers are solely of the author/s and do not necessarily reflect those of the Bank of Albania.
Research Papers
Fiscal sustainability Across the EU and Other Potential Member countries
This discussion paper focuses on the long-run mean-reverting properties of debt to GdP ratio and the role of the government in shaping the fiscal policy across the different regions for the period 2000-2011. the material, evaluates the solvency condition by mean of panel unit root and also estimate the fiscal responses of fiscal policy in 27 european union and euro area and other future and potential member countries in a panel Var.
The probability of sudden stops of capital flows: The case of Albania
The main goal of this paper is to develop a better understanding of international capital flows based on the episode of sudden stop concept. first, we compute a sudden stop indicator (or our binary variable) in order to analyze movements in foreign capital flows. second, the probability of these episodes is estimated as a function of some economic fundamentals by running a probit estimation with quarterly data over the period 2004–2012.