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Publications in 2016


In countries with floating exchange rates, central banks generally intervene to contain market volatility or put a stop to exchange rate overshooting, but not to influence the exchange rate trend. They also intervene to maintain international reserves against vulnerabilities in t...
Published by Ilir Vika on 29.12.2016
This material aims to identify whether or not consumers’ socio – demographics characteristics such as: education, family size, age, gender, employment status and income, play a role on payment choice behavior for the Albanian consumers. Using a binary choice model (Pr...
Published by Alban Pllaha, Kliti Ceca, Valentina Semi on 28.12.2016
Statistical Report - October 2016...
Published by Financial Statistics Department on 20.12.2016
The importance of inflation expectations for monetary policy requires an analysis of their nature: rational or adaptive? This is essential, especially in the inflation targeting regime, recently implemented by the Bank of Albania (BoA). In this paper, we explore inflation expecta...
Published by Merita Boka, Evelina Çeliku, Gent Hashorva on 07.12.2016
Statistical Report - September 2016...
Published by Financial Statistics Department on 18.11.2016
The Albanian economy continued to improve over the last two quarters. Economic activity grew progressively. Inflation is gradually moving towards the target, while financial markets remain calm and financing costs remain at their lowest historical levels. These tendencies reflect...
Published by Monetary Policy Department on 16.11.2016
The MEAM macromodel has been mainly used to analyze various risk scenarios in the Albanian economy, as well as to generate projections about important macroeconomic indicators like inflation, GDP components, labor market, etc. The current MEAM estimation is based on vintage quart...
Published by Ilir Vika, Lorena Skufi, Enian Çela, Esida Abazaj on 24.11.2016
A housing bubble that developed throughout most of the 2000s in the developed world is currently seen as one of the most important causes that led to the global financial crisis of 2008. As a direct result, ever since the crisis, the housing market has become an increasingly impo...
Published by Endrit Yzeiraj on 18.10.2016
In a continuous challenge for increasing economic growth pace, Southeastern Europe economies need to explore all contributing channels to this process. While previous researches do not find a significant relation between financial development and economic growth in SEE countries,...
Published by Arlind Rama on 18.10.2016
Including for the first time macroeconomic variables in the empirical analysis with panel data for commercial banks, this paper aims to shed light on the determinants of net interest margin in the Albanian banking sector. Considered as a good indicator of banking intermediation e...
Published by Meri Papavangjeli, Eralda Leka on 19.10.2016
Statistical Report - August 2016...
Published by Financial Statistics Department on 20.10.2016
The Bank of Albania organised on 30 October 2015 in cooperation with the South East European Studies at Oxford, the annual conference: “Do crises change economic fundamentals in SEE?" The conference was attended by H.E. Edi Rama, the Prime Minister of the Republic of Alban...
Published by Bank of Albania on 20.10.2016
The main focus of this paper is to appraise the money demand function and the velocity of broad money, M3, in the medium and long-term, given its role as a second pivotal pillar for the monetary policy of the Bank of Albania, in accordance with its primary objective, that of pric...
Published by Gerti Shijaku on 18.10.2016
The growth of lending in foreign currency in many Central, Eastern and South Eastern European (CESEE) countries has driven to the expansion of analyses and researches in this regard. In Albania, similar to the other regional countries, the study of main determinants of foreign cu...
Published by Gerti Shijaku on 18.10.2016
Bank lending survey results show tightening of credit standards on loans to enterprises and eased credit standards on loans to households in 2016 Q3. The credit standards were slightly tightened on loans to larger enterprises, and remained unchanged to small and medium-sized ente...
Published by Monetary Policy Department on 17.10.2016
During 2016 H1, economic developments in Albania were positive. Inflationary pressures remained weak and the Bank of Albania deepened the easing monetary policy stance by lowering the policy rate two times by 0.25 percentage point to 1.25%. Fiscal policy maintained its consolidat...
Published by Bank of Albania on 14.10.2016
Statistical Report - July 2016...
Published by Financial Statistics Department on 20.09.2016
Statistical Report - June 2016...
Published by Financial Statistics Department on 22.08.2016
January - June 2016...
Published by Research Department on 24.08.2016
The Bank of Albania judges that the Albanian economy continues on a positive development trajectory. Economic activity expanded in the first half of the year, inflation showed upward trends in the second quarter, and the accommodative monetary policy stance provided for a liquid ...
Published by Monetary Policy Department on 10.08.2016
Bank of Albania’s Economic Review contains research articles by Bank of Albania staff members on a wide range of economic and financial topics, as well as data on Bank of Albania and the Albanian banking system. The articles are published in the name of the author/s, upon t...
Published by Research Department on 29.08.2016
Statistical Report - May 2016...
Published by Statistics Department on 19.07.2016
Bank Lending Survey results evidence tight credit standards applied to enterprises, and a continued easing trend of credit standards to households in 2016 Q2. Business credit standards were tight for small and medium-sized enterprises and for large enterprises. Meanwhile, standar...
Published by Monetary Policy Department on 18.07.2016
Supervision is one of the main functions of the Bank of Albania. Its purpose is to consistently exercise adequate control over the banks and other entities that carry out financial activities licensed by the Bank of Albania. Pursuant to its legal responsibilities as the superviso...
Published by Bank of Albania on 29.07.2016
Statistical Report - April 2016...
Published by Statistics Department on 20.06.2016
Year 2015 was full of challenges both for the Albanian economy and the Bank of Albania. The return of inflation to target, fostering economic growth, and improving banking system soundness indicators has required special attention. These challenges became even more difficult due ...
Published by Bank of Albania on 24.06.2016
Statistical Report - March 2016...
Published by Statistics Department on 20.05.2016
The Bank of Albania deems that the Albanian economy remains on a positive development trajectory. In the medium-term horizon, we expect economic growth to improve and inflation to gradually return to target. Yet, new information illustrates the risk and uncertainties surrounding ...
Published by Monetary Policy Department on 24.05.2016
Statistical Report - February 2016...
Published by Financial Statistics Department on 20.04.2016
Results summarised under Bank Lending Survey show eased lending standards to enterprises during 2016 Q1 as well. Also, the easing trend of lending standards to households continued for some consecutive quarters. Lending standards applied to both small and medium-sized enterprises...
Published by Monetary Policy Department on 18.04.2016
In the second half of 2015, economic activity expanded, driven mainly by the positive contribution of private investments and net exports. The performance of public investments and private consumption was weaker. Economic growth has not been translated in lower unemployment as ye...
Published by Bank of Albania on 21.06.2016
Bank of Albania’s Economic Review contains research articles by Bank of Albania staff members on a wide range of economic and financial topics, as well as data on Bank of Albania and the Albanian banking system. The articles are published in the name of the author/s, upon t...
Published by Research Department on 24.03.2016
Statistical Report - January 2015...
Published by Financial Statistics Department on 21.03.2016
Statistical Report - December 2015...
Published by Financial Statistics Department on 18.03.2016
During the second half of 2015, the economy performed on the up side of Bank of Albania expectations. The expected growth for the year was therefore revised slightly up. The Bank of Albania expects economic growth to accelerate progressively over the years ahead driven by low int...
Published by Monetary Policy Department on 10.02.2016
July - December 2015...
Published by Research Department on 27.01.2016
Statistical Report - November 2015...
Published by Financial Statistics Department on 20.01.2016
Bank Lending Survey results evidence eased credit standards applied to enterprises, and a continued easing trend of credit standards to households in 2015 Q4. The positive developments in lending to enterprises were mainly recorded for small and medium-sized enterprises. Banks co...
Published by Monetary Policy Department on 15.01.2016
The banknotes of a country are part of its national identity. The Bank of Albania is the only issuer of the Albanian banknotes and coins and it has chosen to pursue the concept of reflecting historical periods through the portraits of icon personalities printed on the current se...
Published by Bank of Albania on 21.12.2016
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