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Working Papers - 2011 Serie


January - June 2011...
Published by Research Department on 05.10.2011
Fiscal policy is an important determinant of economic developments and often government decisions on spending and taxes are assigned a crucial role in speeding up or slowing down economic growth. The recent global financial and economic turmoil highlighted the importance of fisca...
Published by Armela Mançellari on 25.08.2011
In this paper the authors develop a small Structural model for the Albanian economy and estimate it using Bayesian estimation techniques. The model captures the essential of small, open, flexible exchange rate economy linkages between the policy instrument (repo rate) and the mai...
Published by Elona Dushku Vasilika Kota on 25.08.2011
Albania opted for a flexible exchange rate from the beginning of transition not simply because of its limited international reserves but also to avoid costly adjustments of possible exchange rate misalignments that usually characterize pegged regimes. While it is tempting to intu...
Published by Ilir Vika, Erjon Luçi on 25.08.2011
The recent financial crisis showed that the credit risk is an important source of risk of the financial system. In this paper the authors have devised a macro stress test for Albania assessing the impact of the direct and indirect credit risk channels using aggregated banks data....
Published by Hilda Shijaku, Kliti Ceca on 25.08.2011
The Monetary Conditions Index (MCI) was first introduced by the Central Bank of Canada [Freedman (1995)] and then many banks and international institutes used this index as a mechanism to interpret the orientation of monetary policy and the effect it has on the economy. MCI is ca...
Published by Oriela Kodra on 12.07.2011
The objective of this paper is to estimate inflation persistence in Albania for the period 1993 to 2008. We apply the univariate approach with constant and time varying mean of inflation for headline and core inflation, and also test whether there are structural changes of persis...
Published by Vasilika Kota on 12.07.2011
The banking industry is the most important segment of the Albanian financial system and, for that reason, it requires more attention when it comes to financial analysis. This paper handles theoretically and analytically some indicators of risk and performance, and for the first t...
Published by Irini Kalluci on 12.07.2011
The purpose of this special workshop book is to make available to the wider public the proceedings of the 4th SEE Economic Research Workshop. This book contains a collection of papers that place special emphasis on three important topics to central banking in transition and SEE s...
Published by Bank of Albania on 06.07.2011
The study aims at estimating the efficiency and the competitive profile of the Albanian economy, based on the labour productivity indicator (LP ) and unit labour costs (UL C). These indicators are calculated in accordance with best statistical practices outlined in the respective...
Published by Evelina Çeliku, Iris Metani on 07.06.2011

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