<?xml version="1.0" encoding="UTF-8"?>
<feed xmlns="http://www.w3.org/2005/Atom" xmlns:dc="http://purl.org/dc/elements/1.1/">
  <title>EconStor Collection:</title>
  <link rel="alternate" href="https://hdl.handle.net/10419/173683" />
  <subtitle />
  <id>https://hdl.handle.net/10419/173683</id>
  <updated>2026-05-07T03:03:10Z</updated>
  <dc:date>2026-05-07T03:03:10Z</dc:date>
  <entry>
    <title>Fiscal stance amidst rising risks and interest rates: The CESEE perspective</title>
    <link rel="alternate" href="https://hdl.handle.net/10419/289502" />
    <author>
      <name>Mitreska, Ana</name>
    </author>
    <author>
      <name>Mitesk, Mite</name>
    </author>
    <id>https://hdl.handle.net/10419/289502</id>
    <updated>2024-04-11T01:23:19Z</updated>
    <published>2023-01-01T00:00:00Z</published>
    <summary type="text">Title: Fiscal stance amidst rising risks and interest rates: The CESEE perspective
Authors: Mitreska, Ana; Mitesk, Mite</summary>
    <dc:date>2023-01-01T00:00:00Z</dc:date>
  </entry>
  <entry>
    <title>Savings in the age of zero interest rate: Some evidence from SEE countries</title>
    <link rel="alternate" href="https://hdl.handle.net/10419/233945" />
    <author>
      <name>Georgievska, Ljupka</name>
    </author>
    <id>https://hdl.handle.net/10419/233945</id>
    <updated>2023-12-09T02:20:07Z</updated>
    <published>2020-01-01T00:00:00Z</published>
    <summary type="text">Title: Savings in the age of zero interest rate: Some evidence from SEE countries
Authors: Georgievska, Ljupka
Abstract: The past decade following the global economic crisis (2008-09) will be certainly marked as the era of historically low interest rates, while the current juncture of COVID-19 pandemic outbreak raises the occasion of another extended period of very low interest rates. Yields have been falling across the whole spectrum of financial assets, including bank deposits, raising the concern of possible negative impact of low interest rates on households' propensity to save. In this analysis, we briefly discuss developments in household savings against the low interest rates environment in the countries from the European Union (EU) and Southeastern Europe (SEE). The aim is to shed some light on the interest rate-savings relationship, observe the potential disruptions to this relation due to the persistently low interest rates and the role that the interest rates played vis-à-vis other factors in shaping households' decisions to save. The analysis points that low interest rates and their dynamics over time have not been a key determinant of saving and investment behavior of households in the region. Factors relating to disposable income and wealth, households' preferences and risk attitudes, as well as institutional frameworks, are likely to have been far more important determinants in this sense. In SEE countries, bank deposits have sustained and further strengthened their role as leading saving instrument in households' financial assets post-crisis, despite the low interest rate environment, while households' saving ratio has improved from very low and even negative levels in some countries pre-crisis.</summary>
    <dc:date>2020-01-01T00:00:00Z</dc:date>
  </entry>
  <entry>
    <title>Monetary policy conundrum in developed economies: Is the region different?</title>
    <link rel="alternate" href="https://hdl.handle.net/10419/233944" />
    <author>
      <name>Mitreska, Ana</name>
    </author>
    <author>
      <name>Georgievska, Ljupka</name>
    </author>
    <author>
      <name>Ramadani, Gani</name>
    </author>
    <id>https://hdl.handle.net/10419/233944</id>
    <updated>2023-12-26T02:34:43Z</updated>
    <published>2020-01-01T00:00:00Z</published>
    <summary type="text">Title: Monetary policy conundrum in developed economies: Is the region different?
Authors: Mitreska, Ana; Georgievska, Ljupka; Ramadani, Gani
Abstract: Ten years after the global crisis, it is more than certain that the context for monetary policy making has not returned to the pre - crisis "normal". Central banks, in advanced economies in particular, have deployed unprecedented measures to ensure proper functioning of financial markets, and to provide impetus to the economy. Despite the recent global recovery, uncertainties remain elevated and possible vulnerabilities come to the fore. At the same time, certain macro-economic linkages on which conventional monetary policy making was based on have been challenged. To streamline the matter, we will tackle few important issues, which as monetary policy makers we have been faced with. First, though the monetary accommodation helped the recovery, easy financing conditions might have encouraged excessive risk-taking and building of debt vulnerabilities. Second, inflation rate has been low for long, despite the wage growth in many countries, giving ground to the so called "wage - price puzzle", and questioning the traditional Phillips curve concept. Third, given the lingering monetary accommodation, policy space has narrowed, thus constraining the room for reaction if severe shocks occur. In this note, we will make an effort to transpose these challenges to the countries of the CESEE region and asses how relevant these global matters are for them.</summary>
    <dc:date>2020-01-01T00:00:00Z</dc:date>
  </entry>
  <entry>
    <title>Resilience to global headwinds? CESEE responses to changing trade and financial landscape - focus on the Macedonian economy</title>
    <link rel="alternate" href="https://hdl.handle.net/10419/233942" />
    <author>
      <name>Stojchevska, Vesna</name>
    </author>
    <id>https://hdl.handle.net/10419/233942</id>
    <updated>2023-11-04T02:14:36Z</updated>
    <published>2019-01-01T00:00:00Z</published>
    <summary type="text">Title: Resilience to global headwinds? CESEE responses to changing trade and financial landscape - focus on the Macedonian economy
Authors: Stojchevska, Vesna
Abstract: This analysis is aimed at investigating the response of the CESEE economies, and especially of the Macedonian economy, to the changing global environment in the latest period, predominantly to the recent challenges coming from the global trade and financial landscape. It offers a historical overview of the trade and financial linkages between these countries and the EU, as well as the EU largest economy - Germany, with a further focus on the growing importance of the Global Value Chains for the trade integration between the CESEE region and Germany. More detailed perspective is given for the Macedonian economy, through the recent change in the trade and production structure, driven by the deeper integration into the GVCs in the last decade. Additionally, a short overview of the recent trade disputes between the US and China is given, focused on the potential adverse effect on the global and EU economy, as an increasing external risk for the prospects of the domestic economy and the region as a whole.</summary>
    <dc:date>2019-01-01T00:00:00Z</dc:date>
  </entry>
</feed>

