Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/274109 
Year of Publication: 
2022
Series/Report no.: 
Working Paper No. 2/2022
Publisher: 
National Bank of the Republic of North Macedonia, Skopje
Abstract: 
The paper deals with the challenges stemming from the phenomenon of unofficial euroization in the Republic of North Macedonia. It tries to identify the main drivers of the households' deposit euroization in the Republic of North Macedonia and contributes to the literature by providing an empirical measure of optimal level of euroization. With focus on the household deposits, it is an additional attempt to empirically estimate the optimal level of euroization in the Republic of North Macedonia, following an already published IMF study on this issue. Looking ahead, persistence in stability-oriented macroeconomic policies and measures for promotion of the use of local currency could further support the deeuroization trend in the Republic of North Macedonia.
Subjects: 
euroization
local currency
financial stability
monetary policy
prudential policy
Republic of North Macedonia
JEL: 
C32
E47
E58
Document Type: 
Working Paper

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