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Effect of depreciation of the exchange rate on the trade balance of Albania
Safet Kurtović, Blerim Halili, Nehat Maxhuni, 2017, original scientific article

Abstract: The paper investigates the effect of the real effective exchange rate depreciation of the lek on the trade balance of Albania using quarterly data from 1994 to 2015. Bounds testing cointegration approach, vector error correction model (VECM), and impulse response were used for the empirical analysis. The results of the study show a long-term cointegration between the real effective exchange rate (REER) and the trade balance (TB). Specifically, the REER depreciation positively affects the trade balance of Albania in both the long and short run, indicating the weak presence of the J-curve effect. Important recommendations were derived from the results.
Keywords: J-curve, cointegration, elasticity, short-term effect, long-term effect
Published in DKUM: 03.05.2018; Views: 1274; Downloads: 439
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Analysis of personal income taxation determinants in Croatia in long run : evidence from cointegration analysis
Irena Palić, Ksenija Dumičić, Barbara Grofelnik, 2017, original scientific article

Abstract: Personal income taxation remains an ongoing issue in Croatia. It is used as an important instrument of income redistribution. Moreover, it directly affects purchasing power of the working population. Numerous changes have been made in this type of taxation since the establishment of Croatian tax system. The aim of this paper is to analyse possible determinants of personal income taxation in Croatia. After offering brief insight into public finance theory regarding personal income taxation, the structure of personal income taxation in Croatia is explained. The empirical analysis of the determinants of personal income taxation in Croatia is conducted using cointegration analysis. Economic conditions, average monthly wage, and number of taxpayers are used as determinants of personal income tax used in this research. The cointegration analysis is conducted using monthly data from January 2008 to February 2016. The results of the research show a statistically significant negative impact of economic conditions and statistically significant positive impact of average monthly wage and number of taxpayers on personal income taxation in long run, what is in line with economic and public finance theory.
Keywords: personal income taxation determinants, economic conditions, wages, number of taxpayers, johansen cointegration approach, Croatia
Published in DKUM: 03.05.2018; Views: 1260; Downloads: 219
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