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Working Papers - 2012 Serie

 


July-December 2012...
Published by Research Department on 05.02.2013
Developments of rapid credit growth during 2004-08 in Albania, and then the immediate slowdown that lending suffered after 2008 are important events worth an in-depth analysis, not only from the macroeconomic but also from the financial system’s stability point of view. Thi...
Published by Irini Kalluci on 16.08.2012
This paper tries to assess the current account norm in Albania. For this reason, the study is based on the accounting framework developed by Lane and Milesi-Ferretti (2006) as well as the empirical framework that is based on panel data estimations. The “equilibrium” l...
Published by Ilir Vika on 15.08.2012
This discussion material focuses on evaluating the long-run meanreverting properties of debt to GDP ratio by unit root approach. Findings demonstrate that the debt to GDP is mean-reverting over time, while there seems to be no evidence when this indicator is measured in real term...
Published by Gerti Shijaku on 14.08.2012
This paper evaluates trade flows among SEE-9 countries by including dynamics into a panel data gravity model. The GMM approach seems to be the right econometrical model in allowing dynamics into the gravity models for trade. The model produced robust outcomes (in terms of statist...
Published by Alban Pllaha on 13.08.2012
This research attempts modelling equilibrium real exchange rate for Albanian currency. For high-growth economies, factors like Balassa-Samuelson effect and terms of trade, referring to internal and external equilibrium in an economy, play a substantial role in guiding equilibrium...
Published by Bledar Hoda on 12.08.2012
In 2006, the Bank of Albania decided to abandon its Monetary Targeting regime in favour of Inflation Targeting one. Against this setting, the Bank of Albania focused its research and analytic efforts on the development of empirically-based models for forecasting inflation and, in...
Published by Altin Tanku, Elona Dushku, Kliti Ceca on 11.08.2012
This discussion material analyses the change in international reserve holdings and their determinants, and evaluates their optimal level from a cost opportunity perspective. The material is based on the Buffer Stock model. This model assumes that reserve holdings are affected by ...
Published by Gerti Shijaku on 10.08.2012
This paper aims to present the developments in the inflation forecasting process for the period 2007-2010 and their integration into the monetary policy decision-making at the Bank of Albania (BoA). The history of forecasting at the BoA is still recent compared to earlier experie...
Published by Evelina Çeliku, Gent Hashorva on 09.08.2012
January-June 2012...
Published by Research Department on 27.07.2012

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